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It's not a tragedy of the commons. Whether we grow the blocks or keep them the same, the network continues to function just fine. It's a matter of values and ho
by brighton36 11y ago
It's not a tragedy of the commons. Whether we grow the blocks or keep them the same, the network continues to function just fine. It's a matter of values and how to grow the network. If the miners do nothing, Lightning Network and off-chain networks will route most transactions outside of the blocks. Some in the network want Bitcoin only to be used for settlement, instead of for every payment. We've actually had larger blocks in the past (32 MiB I believe) and it was reduced to combat spam.
- bduerst 11y agoThat's not a counter-argument to tragedy of the commons. You just described off-chain transactions which aren't considered Bitcoin, and if anything are only a temporary fix to the block-size problem. Tragedy of the commons exists because any of the solutions to a number of problems in the Bitcoin implementation need to be directly profitable for the miners in order to happen. For block-size and supply, they are the opposite of profitable for the miners.