[Cryptography] Bitcoin blocksize limit can be removed

[John Levine]

> Most arguments in defense in the current system mask the true intent, in that
>they bought Bitcoins when they were "cheap" and want to artificially
>constrain the creation of currency. This is literally the worst central
>banking scheme I've ever seen. ...

The bitcoin algorithm is designed to make blocks appear about every 10
minutes regardless of the overall mining effort.  That's been true
since Satoshi mined the first block and it surely does not come as a
surprise to anyone at this point.

I wouldn't disagree with the second sentence, other than to nitpick
that it's arguably no worse than the gold standard was, but if you
want a system where the amount of money created changes in response to
economic conditions, you need a real central bank that issues real
money, not bitcoins.

R's,
John