Post
Topic
Board Development & Technical Discussion
Re: Funding of network security with infinite block sizes
by
jgarzik
on 09/04/2013, 04:24:28 UTC
Satoshi also intended the subsidy-free, fee-only future to support bitcoin.  He did not describe fancy assurance contracts and infinite block sizes; he cleared indicated that fees would be driven in part by competition for space in the next block.

Unlimited block sizes are also a radical position quite outside whatever was envisioned by the system's creator -- who cleared did think that far ahead.
Appeal to authority: Satoshi didn't mention assurance contracts therefore they can not be part of the economics of the network
Strawman argument: The absence of a specific protocol-defined limit implies infinite block sizes.
False premise: A specific protocol-defined block size limit is required to generate fee revenue.

Gathering data does not imply blindly following the data's source.

Fully understanding the intent of the system's designer WRT fees is a very valuable data point in making a decision on block size limits.