{"type":"rich","version":"1.0","author_name":"npub1kf0ppcjaguxekg24yx6smgxlu73qn0k8lm0t2wrqc0scpl7u3sgsmf3f58","author_url":"https://nostr.ae/npub1kf0ppcjaguxekg24yx6smgxlu73qn0k8lm0t2wrqc0scpl7u3sgsmf3f58","provider_name":"njump","provider_url":"https://nostr.ae","html":"📅 Original date posted:2015-06-26\n📝 Original message:On Fri, Jun 26, 2015 at 8:24 AM, Pieter Wuille \u003cpieter.wuille at gmail.com\u003e\nwrote:\n\n\u003e On Fri, Jun 26, 2015 at 5:22 PM, Milly Bitcoin \u003cmilly at bitcoins.info\u003e\n\u003e wrote:\n\u003e\n\u003e\u003e \u003eNone of this is a reason why the size can't increase. However, in my\n\u003e\u003e opinion, we should do it because we believe it increases utility and\n\u003e\u003e understand the risks; not because we're afraid of what might happen if we\n\u003e\u003e don't hurry up. And from that point of view, it seems silly to make a huge\n\u003e\u003e increase at once...\n\u003e\u003e\n\u003e\u003e Yes.  I think people/businesses want some kind of assurance that there is\n\u003e\u003e a path to get things done when needed rather than immediate changes.  Since\n\u003e\u003e there is currently no clear path/schedule to get any changes accomplished\n\u003e\u003e they gets anxious.\n\u003e\u003e\n\u003e\n\u003e I think you just proved my point by saying \"when needed\".\n\u003e\n\nProposing inaction is not the way you convince people that bitcoin can\nscale.\n\nPeople and businesses cannot perform any capacity planning and future\nprojections under the proposal of \"economic change through inaction.\"\n\nThere will be no growth, by your argument, until there is fee pressure.\nAnd what happens then?\n\na) Block size limit increases, disrupting and rebooting the fee market.\n      or\nb) You argue that fees have taken care of the capacity.\n\nWaiting until blocks are full before taking action produces even more\ndisruption and market-unpredictable behavior than today.\n\nI understand you want a fee market to develop, and increasing the block\nsize limit retards/prevents that.  The fact remains that that is a _major_\nchange to economic policy that creates a _more_ unpredictable system.\n\nWho knows when Pieter will agree that a fee market is healthy?  And at that\ntime, once blocks are full, changing the block size limit then will produce\neven more disruption, going from\n\n            little pressure -\u003e lots of pressure -\u003e little pressure\n\nInaction produces fee pressure produces volatility.  And makes it more\ndifficult for system users to perform capacity planning.\n\nI see a lot of microscopic fee analysis - economically insignificant for at\nleast 12 months to come - and very little holistic analysis from people\narguing that inaction is the best course.\n-------------- next part --------------\nAn HTML attachment was scrubbed...\nURL: \u003chttp://lists.linuxfoundation.org/pipermail/bitcoin-dev/attachments/20150626/469d8757/attachment-0001.html\u003e"}