Konrad S. Graf: The Bitcoin Block Size Political Economy
Bitcoin.com got the chance to sit down with respected Bitcoin thinker Konrad S. Graf and talk about the ongoing Bitcoin block size controversy. By applying the theories of political economy to the issue, Graf argues that the 1 MB block size limit is economically most similar to a government mandated output ceiling. To get the details on where Graf....
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When I initially got into Bitcoin, the first thing I did was apply the new digital currency to the Austrian economics I had learned in the past. Determined to learn the value of Bitcoin and whether or not it was actual money, I spent hours arguing about the subject throughout online forums. Diving down the rabbit-hole of crypto, through droves of....
The debate to increase the bitcoin block size from its current 1MB has been going on for quite some time now. Those who are calling for a larger limit say that the current size of the network can no longer handle the transactions efficiently with such a small block size. Some say that it should be increased to 20MB while others think that 8MB would suffice. According to lead bitcoin developer Gavin Andresen, the best solution to the limited transactions of the bitcoin network is to increase the maximum block size. He even pointed out that if solution isn't implemented right away, the....
They say women like ambitious men. But men, be advised. Bitcoin is still seen as nerdy more than a sign of ambition. Take it from an expert on relationships who also loves bitcoin. Dr. Jochen Konrad, a dating and relationship specialist well known in Germany, advises men to avoid mentioning bitcoin on a first date. Especially when the woman is not technically inclined. "I think bitcoin should not be discussed by guys because that doesn't really stimulate the imagination of women or deliver any emotional cues," Dr. Konrad said. "I would only recommend even talking about it when she already....
This week, bitcoin Jesus Roger Ver weighed in on the block size debate stating that the block size limit should be increased if it is technologically achievable. Specifically, Ver tweeted: The block size debate has been underway for some time now and a lot of developers including Bitcoin Core Developers and the Bitcoin community are getting exasperated with the current impasse. In addition, many developers are now spending a lot of time and money seeking alternative solutions. If every 1MB block were always full, it would take over 55 years to fill my new HD. Let's raise the block size....
Bitcoin’s block-size dispute rages on. A proposed change to a single parameter in Bitcoin’s reference implementation has spawned into a great debate, resulting in tireless discussion, multiple conferences , a growing split within the Bitcoin community and at least one prominent developer joining a bank-run alternative. The subject of debate itself, moreover, started out in the technical realm, predominantly relating to the increased propagation time of larger blocks, and the level of mining centralization. Over the past year, however, the same debate mostly moved into the political domain,....