📅 Original date posted:2015-08-06
📝 Original message:On Thu, Aug 6, 2015 at 4:21 PM, Gavin Andresen <gavinandresen at gmail.com>
wrote:
> On Thu, Aug 6, 2015 at 10:06 AM, Pieter Wuille <pieter.wuille at gmail.com>
> wrote:
>
>> But you seem to consider that a bad thing. Maybe saying that you're
>> claiming that this equals Bitcoin failing is an exaggeration, but you do
>> believe that evolving towards an ecosystem where there is competition for
>> block space is a bad thing, right?
>>
>
> No, competition for block space is good.
>
So if we would have 8 MB blocks, and there is a sudden influx of users (or
settlement systems, who serve much more users) who want to pay high fees
(let's say 20 transactions per second) making the block chain inaccessible
for low fee transactions, and unreliable for medium fee transactions (for
any value of low, medium, and high), would you be ok with that? If so, why
is 8 MB good but 1 MB not? To me, they're a small constant factor that does
not fundamentally improve the scale of the system. I dislike the outlook of
"being forever locked at the same scale" while technology evolves, so my
proposal tries to address that part. It intentionally does not try to
improve a small factor, because I don't think it is valuable.
What is bad is artificially limiting or centrally controlling the supply of
> that space.
>
It's exactly as centrally limited as the finite supply of BTC - by
consensus. You and I may agree that a finite supply is a good thing, and
may disagree about whether a consensus rule about the block size is a good
idea (and if so, at what level), but it's a choice we make as a community
about the rules of the system we want to use.
--
Pieter
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Pieter Wuille [ARCHIVE] /
npub1tj…jtl6r
2023-06-07 15:44:52
in reply to nevent1q…ffzr
Author Public Key
npub1tjephawh7fdf6358jufuh5eyxwauzrjqa7qn50pglee4tayc2ntqcjtl6rPublished at
2023-06-07 15:44:52Event JSON
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"content": "📅 Original date posted:2015-08-06\n📝 Original message:On Thu, Aug 6, 2015 at 4:21 PM, Gavin Andresen \u003cgavinandresen at gmail.com\u003e\nwrote:\n\n\u003e On Thu, Aug 6, 2015 at 10:06 AM, Pieter Wuille \u003cpieter.wuille at gmail.com\u003e\n\u003e wrote:\n\u003e\n\u003e\u003e But you seem to consider that a bad thing. Maybe saying that you're\n\u003e\u003e claiming that this equals Bitcoin failing is an exaggeration, but you do\n\u003e\u003e believe that evolving towards an ecosystem where there is competition for\n\u003e\u003e block space is a bad thing, right?\n\u003e\u003e\n\u003e\n\u003e No, competition for block space is good.\n\u003e\n\nSo if we would have 8 MB blocks, and there is a sudden influx of users (or\nsettlement systems, who serve much more users) who want to pay high fees\n(let's say 20 transactions per second) making the block chain inaccessible\nfor low fee transactions, and unreliable for medium fee transactions (for\nany value of low, medium, and high), would you be ok with that? If so, why\nis 8 MB good but 1 MB not? To me, they're a small constant factor that does\nnot fundamentally improve the scale of the system. I dislike the outlook of\n\"being forever locked at the same scale\" while technology evolves, so my\nproposal tries to address that part. It intentionally does not try to\nimprove a small factor, because I don't think it is valuable.\n\nWhat is bad is artificially limiting or centrally controlling the supply of\n\u003e that space.\n\u003e\n\nIt's exactly as centrally limited as the finite supply of BTC - by\nconsensus. You and I may agree that a finite supply is a good thing, and\nmay disagree about whether a consensus rule about the block size is a good\nidea (and if so, at what level), but it's a choice we make as a community\nabout the rules of the system we want to use.\n\n-- \nPieter\n-------------- next part --------------\nAn HTML attachment was scrubbed...\nURL: \u003chttp://lists.linuxfoundation.org/pipermail/bitcoin-dev/attachments/20150806/d69b8f33/attachment-0001.html\u003e",
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