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I wonder what would happen with bigger blocks besides making the blockchain use more disk space. We have BCH and BSV to compare, but not in BTC's scale, I belie

by haolez 6y ago

I wonder what would happen with bigger blocks besides making the blockchain use more disk space. We have BCH and BSV to compare, but not in BTC's scale, I believe.

gruez 6y ago
initially? lower fees. eventually it will be offset by the induced demand and we'll be back to square one.
- nivexous 6y ago
  By that argument, we should have capped Internet bandwidth at 56kbps.
- bavell 6y ago
  We won't be back at square one even if the fees end up the same, since the transaction thoroughput would be higher. Bigger blocks means more transactions per block and at a constant rate of 6 blocks/hr that means the network can handle more TPS before fees rise. As long as the mempool remains relatively empty, fees will be low.
- wmf 6y ago
  Imagine if they increased the block size and developed Lightning in parallel. On-chain fees would be low until Lightning becomes mainstream then Lightning fees would be even lower.
  - devname 6y ago
    Tried that in 2017, but the stream got blocked.
devname 6y ago
Bitcoin Cash has handled more transactions than small-block core for two months now. https://bitinfocharts.com/comparison/transactions-btc-bch.html#log&1y https://bitinfocharts.com/comparison/transactions-btc-bch.ht... Read the first page of the Bitcoin whitepaper: https://www.bitcoin.com/bitcoin.pdf https://www.bitcoin.com/bitcoin.pdf. It's a protest against fees and intermediaries. Now we see BTC claim to be Bitcoin, but it is crippled by high fees and custodial intermediaries.
- gruez 6y ago
  >Now we see BTC claim to be Bitcoin, but it is crippled by high fees and custodial intermediaries. If only there was a low fee way of doing bitcoin transactions without custodial intermediaries... https://lightning.network/ https://lightning.network/
- CameronNemo 6y ago
  That's great to hear. I was following BCH back when their transactions were just a trickle. I was afraid the Craig Wright nonsense was going to completely end the chain. Refreshing to know that they are not just surviving, but thriving.
- pfundstein 6y ago
  Intersting to see the downvotes, looks like the BTC vs BCH is quite polarizing even on HN

by haolez 6y ago

I wonder what would happen with bigger blocks besides making the blockchain use more disk space. We have BCH and BSV to compare, but not in BTC's scale, I believe.

gruez 6y ago

initially? lower fees. eventually it will be offset by the induced demand and we'll be back to square one.

nivexous 6y ago
By that argument, we should have capped Internet bandwidth at 56kbps.
bavell 6y ago
We won't be back at square one even if the fees end up the same, since the transaction thoroughput would be higher. Bigger blocks means more transactions per block and at a constant rate of 6 blocks/hr that means the network can handle more TPS before fees rise. As long as the mempool remains relatively empty, fees will be low.
wmf 6y ago
Imagine if they increased the block size and developed Lightning in parallel. On-chain fees would be low until Lightning becomes mainstream then Lightning fees would be even lower.
- devname 6y ago
  Tried that in 2017, but the stream got blocked.

devname 6y ago

Bitcoin Cash has handled more transactions than small-block core for two months now. https://bitinfocharts.com/comparison/transactions-btc-bch.html#log&1y https://bitinfocharts.com/comparison/transactions-btc-bch.ht... Read the first page of the Bitcoin whitepaper: https://www.bitcoin.com/bitcoin.pdf https://www.bitcoin.com/bitcoin.pdf. It's a protest against fees and intermediaries. Now we see BTC claim to be Bitcoin, but it is crippled by high fees and custodial intermediaries.

gruez 6y ago
>Now we see BTC claim to be Bitcoin, but it is crippled by high fees and custodial intermediaries. If only there was a low fee way of doing bitcoin transactions without custodial intermediaries... https://lightning.network/ https://lightning.network/
CameronNemo 6y ago
That's great to hear. I was following BCH back when their transactions were just a trickle. I was afraid the Craig Wright nonsense was going to completely end the chain. Refreshing to know that they are not just surviving, but thriving.
pfundstein 6y ago
Intersting to see the downvotes, looks like the BTC vs BCH is quite polarizing even on HN