Post
Topic
Board Bitcoin Discussion
Re: SegWit yay or nay? come vote here.
by
ArticMine
on 24/01/2017, 03:42:49 UTC
...

i was also with dynamic block but i've heard there are some problems, first of all is if an attacker is abusing the network by flooding it and increase the dynamic block momentarily, this will lead to some sort of centralization toward strong node

the other thing is to follow the monero project with its dynamic block, but it will change a bit the fundamental economy of bitcoin, making it inflate for a small amount like monero did

The issue with a dynamic blocksize, following a model similar to that of Monero, in Bitcoin is that there is eventually no incentive for the miners as the base reward falls. The reason the dynamic blocksize works in Monero is that Monero has a minimum base reward of 0.6 XMR per block. A rough equivalent in Bitcoin would be 3 XBT per block in perpetuity. Fees have little or no impact on mining security in Monero. They are actually there to control the blocksize increase and deter spam attacks. So unless one is prepared to violate the 21 million XBT maximum limit, I am afraid there may be little that the Monero project may be able to offer Bitcoin on blocksize scaling.

What I must strongly caution against is taking elements of Monero's dynamic blocksize, with critical security components removed, and expecting them to work in Bitcoin. This I am afraid can easily lead to disaster.

Edit: The total fees per block in Monero are actually set to be proportional to the block reward. Think about this when combined with a block reward that falls to zero over time.