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> miners have made it pretty clear they're not going to adopt it Source? Commercial miners make the vast majority of their money on the block reward which has
by aianus 11y ago
> miners have made it pretty clear they're not going to adopt it
Source?
Commercial miners make the vast majority of their money on the block reward which has nothing to do with the size of the block. If anything, they'll make more money with less variance with a larger block (since small miners with worse connectivity will have a higher orphan rate).
The only people I've seen opposing a block size increase are idealists who are afraid of further centralization of mining power as hobbyist/small miners will have a more difficult time participating (you'll need faster internet and larger hard drives).
My money is on a block size increase in the next 1-2 years.
- eru 11y agoHow much money, and what odds are you offering?
- aianus 11y agoI'd put $100 on it but I'm not sure what the prevailing odds are or where we might place the bet. Are there any legitimate prediction markets still operating where we might be able to do this? I googled around a little for it and stumbled across Augur (http://www.augur.net/ http://www.augur.net/) but it seems too alpha for such a long term bet right now.
- bduerst 11y agoThe miners shot down the four proposals to increase block size, even the tiny 2MB increase. Increased competition to get in on the smaller blocks leads to larger transaction fees. Miners benefit from people competing to have their transactions hashed in the next block. If the userbase scales, the competition goes up and transaction fees go higher. If everyone could get their transactions through on a larger block, they're going to pay almost no fee and miner's make less.