Post
Topic
Board Bitcoin Discussion
Re: Alert: chain fork caused by pre-0.8 clients dealing badly with large blocks
by
notme
on 13/03/2013, 04:18:55 UTC
Available slots only works for just so long, and then you MUST adjust it.  Minimal fees are fine as long as the network continues to grow and flourish.  If you are collecting 0.2 - 0.5 BTC per block in fees right now that is GREAT!!!  Because if the network increases 100fold that could rise to 20 - 50 BTC per block.  I know there are other factors to consider, but I am hoping that in 16 - 20 years (yes I'm not looking at tomorrow or next year or two) Our reward for solving a block will be higher than the 50 BTC we started with.

I'm not saying to leave the 1MB limit in place.  I'm just saying this statement is incorrect:
no one will want to LIMIT block size.

Expanding block limits to ridiculous sizes will ensure that blockchain maintenance becomes a rich man's only game .. i.e. only Google, Facebook and Citigroup can afford to maintain full blockchains. Conversely it will keep fees relatively lower for longer ....  decisions, decisions. But better we are kept aware of the impending changes before being rushed into them by an employee of Google.

Exactly.  Make the blocks too large too quick and watch the storage of the blockchain become centralized.  There is plenty of room to expand it without too much concern, but just throwing out the limit completely would never achieve miner consensus.