{"type":"rich","version":"1.0","author_name":"npub18gjvug29c4yg46lmplq38e75gg6wn5mn8taytckcsr4jt8p74h3s5knkzl","author_url":"https://nostr.ae/npub18gjvug29c4yg46lmplq38e75gg6wn5mn8taytckcsr4jt8p74h3s5knkzl","provider_name":"njump","provider_url":"https://nostr.ae","html":"📅 Original date posted:2015-05-08\n📝 Original message:As the author of a popular SPV wallet, I wanted to weigh in, in support of\nthe Gavin's 20Mb block proposal.\n\nThe best argument I've heard against raising the limit is that we need fee\npressure.  I agree that fee pressure is the right way to economize on\nscarce resources. Placing hard limits on block size however is an\nincredibly disruptive way to go about this, and will severely negatively\nimpact users' experience.\n\nWhen users pay too low a fee, they should:\n\n1) See immediate failure as they do now with fees that fail to propagate.\n\n2) If the fee lower than it should be but not terminal, they should see\ndegraded performance, long delays in confirmation, but eventual success.\nThis will encourage them to pay higher fees in future.\n\nThe worst of all worlds would be to have transactions propagate, hang in\nlimbo for days, and then fail. This is the most important scenario to\navoid. Increasing the 1Mb block size limit I think is the simplest way to\navoid this least desirable scenario for the immediate future.\n\nWe can play around with improved transaction selection for blocks and\nencourage miners to adopt it to discourage low fees and create fee\npressure. These could involve hybrid priority/fee selection so low fee\ntransactions see degraded performance instead of failure. This would be the\nconservative low risk approach.\n\nAaron Voisine\nco-founder and CEO\nbreadwallet.com\n-------------- next part --------------\nAn HTML attachment was scrubbed...\nURL: \u003chttp://lists.linuxfoundation.org/pipermail/bitcoin-dev/attachments/20150508/61a099ec/attachment.html\u003e"}