3 ms·
Bitcoin strength and value is on decentralization. If you increase the block size, it will be seized by governments or large corporations. This has long being d
by irae 5y ago
Bitcoin strength and value is on decentralization. If you increase the block size, it will be seized by governments or large corporations. This has long being debated, and the reason it is like it is today, is that everyone really vested into it agreed (in a distributed way) to keep it as so.
More on that here: https://twitter.com/DocumentingBTC/status/1393997171456892933 https://twitter.com/DocumentingBTC/status/139399717145689293...
And you can even buy books explaining this way better than I (or twitter) can.
- xref 5y agoJust says “tweet unavailable” for me, and I don’t understand how a 2mb block means a government can “seize” Bitcoin where they can’t with a 1mb block
- irae 5y agotoday with a raspberry pi and a 1TB hard drive you can have a node and be one of the validators. If hardware is unattainable by the users interested in helping with decentralization (and there are few enough of those) large corporations or governments will be the only validators and defeat the purpose of decentralization
- fidelramos 5y ago> If you increase the block size, it will be seized by governments or large corporations. That doesn't make any sense. Any actor, like for example a government, might seize (control) a blockchain by having overwhelming mining majority (51% attack), but that has little to do with the size of the blockchain itself. The only reason one might have to think that way is believing the false narrative that a BTC "full node" does anything to secure the network. Only mining nodes secure the network, having a copy of the full blockchain is not enough. Edit: typo.