Post
Topic
Board Bitcoin Discussion
Merits 3 from 2 users
Re: Mempool Observer Topic
by
cryptosize
on 03/02/2024, 18:56:34 UTC
⭐ Merited by vapourminer (2) ,JayJuanGee (1)
If I had it my way, I would double the block size with every halving.

Every 2 years processing power (and HDD/SSD storage) is doubled, so 4 years seems pretty moderate for doubling the block size, don't you think?

Currently we would have had a 32MB block size (with SegWit) or an 8MB block size (Legacy). Do the math and find out how much the block size would grow until 2140.

BUT maybe (I'm not 100% sure) Satoshi didn't want to ruin the emerging fee market, since BTC is a deflationary currency (unlike XMR which has a tail emission of 0.6 XMR per block).

I don't think it's possible to have our cake (increased block size) and eat it too (healthy fee market).

We can all agree that 1-4MB blocks are too small for 2024 tech (compared to 2009 tech), but we're stuck with what we have and nobody in their right mind wants a hard fork.

Just like nobody wants to abandon IPv4 in favor of IPv6 or 32-bit in favor of 64-bit... backwards compatibility is a necessary evil in the IT space. IT guys get it. Non-IT guys will never get it.