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Increasing the block size doesn't seem to me like a long-term solution for Bitcoin's scalability problem. From the tone of your post though, it seems like you'r
by amackera 9y ago
Increasing the block size doesn't seem to me like a long-term solution for Bitcoin's scalability problem. From the tone of your post though, it seems like you're mind is unlikely to be changed about Bitcoin Cash.
- JonnyNova 9y agoCan you elaborate on why you think that increasing the block size doesn't seem like a solution for scaling?
- nmj 9y agoFor the same reason we do not make bigger cars when we want to go to space.
- JonnyNova 9y agoThat is not a good comparison to the situation. Cars and outer space have nothing to do with each other at all. Whereas the number of transactions is directly impacted by the available size on the block that they consume.
- tobiaswk 9y agoWell. Satoshi even suggested that to scale bigger blocks would be required. In fact before the 1MiB limit was introduced there was no limit. Believe it or not. I know this is not a valid reason to say that increasing the block size is the only solution. Of course there are other solutions. One is segwit... but that has not solved anything at all. The thing is that increasing the block size would fix Bitcoin's problem right now. Compare segwit implementation with increasing the block size. Segwit is a very complex implementation and frankly I would call it over-engineered. Worst. It hasn't done ANYTHING for Bitcoin. Currently the Bitcoin has had 100k+ unconfirmed transactions for weeks... and a ever growing mempool. You cannot transact or move your coins confidently without paying large fees. 500 satoshis/byte or about 30 dollars. The original vision is completely destroyed. Sentences like "store of value" are now the term used to describe Bitcoin. Very far from what the Bitcoin used to be.