Post
Topic
Board Bitcoin Technical Support
Merits 4 from 1 user
Re: [May 2024] Fees are low, use this opportunity to Consolidate your small inputs
by
LoyceV
on 29/05/2024, 18:12:41 UTC
⭐ Merited by BlackHatCoiner (4)
I haven't argued that rising the block size to 10-16 MB will eliminate Bitcoin. I'm just saying that it doesn't solve the problem, it only alleviates it.
I think we can agree on this, but with one difference: I'd like to see the "breathing space" in more Bitcoin transactions, while you don't want it. I'd like to see more on-chain transactions until a more permanent scaling solution is in place.

Quote
With block size 1 MB, it takes around 2 seconds to verify the block. With 1 minute interval, I'd expect a lot of blocks to be stale, by the way.
When syncing Bitcoin Core (on not very recent hardware), I already see multiple blocks per second being verified. I recently did it on a Xeon E-2236 (which was introduced 5 years ago), and it took 11 hours. That's 15 MB blocks per second.