[Cryptography] Bitcoin blocksize limit can be removed

Lodewijk andré de la porte l at odewijk.nl
Mon Nov 9 14:52:53 EST 2015


Why speak up now?

Without proof identity there is no saying as to authenticity. Without
authenticity wrt project goals, we're left with arguments in favor of
blocksize increase. It seems rather obvious blocksize should increase, to
ensure Bitcoin's continued cheap usability. The amount of which can be
debated, and no strong arguments seem to be provided for specific amounts.

I'm still in favor of a gradually increasing blocksize. It is reasonable to
introduce a "fee target" - the preferred fee-per-transaction, and to
increase the (increase in) blocksize should the fee target be exceeded to
ensure cheap transactions, and vise versa to prevent spam. But such
measures may be complicated compared to plain geometric increase.

IMHO, the blocksize should roughly follow the improvement in computing
hardware performance, so as to preserve the current degree of
accessibility. More is fine too, expected protocol improvements and use of
SPV (or similar) makes it feasible. Less is not fine, it increases price
per Bitcoin transaction which is a stronger-than-linear negative effect on
Bitcoin's fitness for transfer related purposes.
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