Here’s What Crypto Decentralists Think about the Block Size Debate
Ethereum hard forks might serve as an important lesson for Bitcoin about how such a technical change to a distributed system unfolds. Ethereum’s first hard fork, for instance, resulted in a competing Ethereum chain. Wildly engaged in their own debates on forums and Reddit, Bitcoiners are currently deliberating changing key aspects of Bitcoin’s code. But the Ethereum hard fork might give them a peek into their own future. One’s position in the block size debate likely revolves around the value system each individual has developed around crypto-currency. The Bitcoin block size debate....
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As much as most people would like to think otherwise, the Bitcoin block size debate is far from over. Various new proposals have been suggested in the past, and another interesting concept was posted on Reddit earlier today. According to this user, a small block size increase should be done first, followed by the integration of Segregated Witness. Addressing the key issue as soon as possible should be the top priority for all Bitcoin developers. Based on the findings of the Reddit in question, Segregated Witness should not be the first and foremost solution to settling the Bitcoin block....
There seems to be no end in sight for the block size debate as the Bitcoin community continues to go around in circles trying to drive the same set of points home... The Bitcoin block size debate rages on. It has been almost a year since we started hearing the Bitcoin community fiercely contesting about whether to increase the bitcoin block size from the existing 1 MB or not. Both the sides have so far come up with some valid arguments, of which few are very convincing towards both the causes. Recently the “Jesus of Bitcoin”, Roger Ver wrote an article about why the Bitcoin block size....
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....
There has been an ongoing Bitcoin block size debate, and most recently a radical, old idea resurfaced: instead of increasing the block size from 1MB to 2,4 or 8MB, the protocol should be changed to accommodate 32MB blocks. This probably pissed off Bram Cohen. Are 32MB Blocks Too Big? Here’s why that’s not a radical idea: it’s how Satoshi Nakamoto, creator of Bitcoin, for a time had designed Bitcoin before settling on a 1MB transaction size — a decision which, perhaps, led to Bitcoin being christened “digital gold.” Calls for large block sizes are not so uncommon: Gavin Andresen himself....
Maybe you haven’t noticed it, but I know I have. My Bitcoin wallet has recently taken longer and longer to receive a Bitcoin payment, have advised me of a delay, and sometimes even told me why I am still waiting. This wasn’t happening 2-3 months ago, but the issue of Blockchain delays for transactions has been happening off-and-on all year long. It is a two part problem, from what I can gather, so let’s review the main factors and potential solutions. Block size debate was kicked down the road. In the summer of 2015, the block size debate was all the rage, as the Bitcoin protocol showed....