{"type":"rich","version":"1.0","author_name":"npub1du3xh5wgds32a5fweqkd9k45kh30wl7kv2kyu8ugz9c2ztdg00tqqvyg93","author_url":"https://nostr.ae/npub1du3xh5wgds32a5fweqkd9k45kh30wl7kv2kyu8ugz9c2ztdg00tqqvyg93","provider_name":"njump","provider_url":"https://nostr.ae","html":"📅 Original date posted:2015-08-11\n📝 Original message:On Tuesday 11. August 2015 00.52.23 Pieter Wuille wrote:\n\u003e The whole point is that whether confirmation at a particular price point is\n\u003e reliable depends on how much demand there is at that price point. And\n\u003e increasing the block size out of fear of what might happen is failing to\n\u003e recognize that it can always happen that there is a sudden change in demand\n\u003e that outcompetes the rest.\n\u003e \n\u003e The point is not that evolution towards a specific higher feerate needs to\n\u003e happen, but an evolution to an ecosystem that accepts that there is never a\n\u003e guarantee for reliability, unless you're willing to pay more than everyone\n\u003e else - whatever that number is.\n\n\nI'm going to go with this one, since we are seeking common ground and all of \nthis makes sense to me. And I bet to Gavin would agree to this too.\n\nThe question I want to ask is this;\n\nHow do you expect to get from the current to the situation outlined above?\n\nThere are several market forces at work;\n\n* people currently expect near-free payments.\n* people currently expect zero-confirmations.\n* Bitcoin is seeing a huge amount of uptake, popularity, etc.\n* With Greece still in flux, there is a potential enormous spike of usage set \nto come when (not if) the Euro falls.\n\n\nI conclude that we need;\n\n* to create and make working solutions like LN, sidechains etc etc etc.\nThis should allow people to get their fast confirmation time. Who cares its of \na different nature, the point is that the coffeeshop owner lets you leave with \nyour coffee. We can sell that.\n\n* To buy ourselves time, LN is not done, Bitpay and friends work on-chain. \nThat won't change for a year at least.\nWe need to move the max-block size to a substantial bigger size to allow \nBitcoin to grow.\n\n\nUnfortunately for us all, Bitcoin is over-sold. We don't have a sales \ndepartment but the worth-of-mouth leaves us in a bad situation. And we need to \nreact to make sure the product isn't killed by bad publicity. What Gox didn't \nmanage can certainly happen when people find out that Bitcoin can't currently \ndo any of the things everyone is talking about.\nSo, while LN is written, rolled out and tested, we need to respond with bigger \nblocks.  8Mb - 8Gb sounds good to me.\n\nCan everyone win?\n-- \nThomas Zander"}