From mboxrd@z Thu Jan 1 00:00:00 1970 Return-Path: Received: from smtp1.linuxfoundation.org (smtp1.linux-foundation.org [172.17.192.35]) by mail.linuxfoundation.org (Postfix) with ESMTPS id 71A9A7AA for ; Fri, 21 Aug 2015 17:31:32 +0000 (UTC) X-Greylist: domain auto-whitelisted by SQLgrey-1.7.6 Received: from mail.jymx.de (jymx.de [81.169.251.53]) by smtp1.linuxfoundation.org (Postfix) with ESMTPS id A81A7AB for ; Fri, 21 Aug 2015 17:31:31 +0000 (UTC) Received: from b2b-130-180-101-166.unitymedia.biz ([130.180.101.166]:34299 helo=[192.168.88.252]) by mail.jymx.de with esmtpsa (TLS1.2:DHE_RSA_AES_128_CBC_SHA1:128) (Exim 4.80) (envelope-from ) id 1ZSqA5-0004aO-0I; Fri, 21 Aug 2015 19:31:29 +0200 Message-ID: <55D7606F.3050501@olivere.de> Date: Fri, 21 Aug 2015 19:31:27 +0200 From: Oliver Egginger User-Agent: Mozilla/5.0 (X11; Linux x86_64; rv:31.0) Gecko/20100101 Thunderbird/31.8.0 MIME-Version: 1.0 To: Will Madden References: <3B2A58B3-6AF6-4F1C-A6FA-7AEC97F48AD0@petertodd.org> <55D7250D.5@olivere.de> In-Reply-To: Content-Type: text/plain; charset=utf-8 Content-Transfer-Encoding: 8bit X-Spam-Status: No, score=-1.9 required=5.0 tests=BAYES_00 autolearn=ham version=3.3.1 X-Spam-Checker-Version: SpamAssassin 3.3.1 (2010-03-16) on smtp1.linux-foundation.org Cc: bitcoin-dev@lists.linuxfoundation.org Subject: Re: [bitcoin-dev] Core Devs : can you share your thoughts about all BIPs on this website ? X-BeenThere: bitcoin-dev@lists.linuxfoundation.org X-Mailman-Version: 2.1.12 Precedence: list List-Id: Bitcoin Development Discussion List-Unsubscribe: , List-Archive: List-Post: List-Help: List-Subscribe: , X-List-Received-Date: Fri, 21 Aug 2015 17:31:32 -0000 Am 21.08.2015 um 15:34 schrieb Will Madden: > Keeping the block size at 1mb restricts the number of active users of bitcoin to around 100,000 people transacting twice a day on blockchain. > BItcoin is a protocol. Protocols are successful because of their network effect. Capping the block size freezes bitcoin’s network effect, limits users and prevents new users from joining (which will cut demand to exchange bitcoin) and also freeze the economic incentive to mine, because it will hurt the price. As a protocol Bitcoin could support millions of full nodes. What you talking about is the number of shareholders. But these are poorly determined by the block size. The number of shareholders is determined by many parameter but manly by the decreasing-supply algorithm. Which "was chosen because it approximates the rate at which commodities like gold are mined". See: https://en.bitcoin.it/wiki/Controlled_supply While the decreasing-supply algorithm of Bitcoin has many advantage it's very hard to believe that the block chain will ever reach mass adoption. Even after 6 years, hardly anyone owns Bitcoins. Like Gold Bitcoin is distributed in large blocks to a few. Exceptions prove the rule. In the last 6 years the 1MB limit has been sufficient. I don't think that we will hit the 8MB limit in the next 6 years, except for stress tests and spam. > Freezing bitcoin’s growth for any meaningful length of time will > threaten its position as the leading cryptocurrency. I don't think that a relative tight block size could harm Bitcoin middle-term. Only experienced users penetrate the block chain directly. They know what they are doing and deal with problems. When space for transactions starts to become scarce and the fees rise too much, the developers have enough time to make a change. It would then also not so controversial. A matter of a few days or weeks. Especially if all necessary preparations have already been taken. But I know that my opinion is very different from other claims. However, reliable people share some more fatalism as I'm currently find in some parts of the the Bitcoin community. Fear is a very bad adviser and can make a genius stupid. - oliver