rich1.0npub1kf0ppcjaguxekg24yx6smgxlu73qn0k8lm0t2wrqc0scpl7u3sgsmf3f58https://nostr.ae/npub1kf0ppcjaguxekg24yx6smgxlu73qn0k8lm0t2wrqc0scpl7u3sgsmf3f58njumphttps://nostr.ae📅 Original date posted:2015-06-14 📝 Original message:The choice is very real and on-point. What should the block size limit be? Why? There is a large consensus that it needs increasing. To what? By what factor? The size limit literally defines the fee market, the whole damn thing. If software high priests choose a size limit of 300k, space is scarce, fees are bid high. If software high priests choose a size limit of 32mb, space is plentiful, fees are near zero. Market actors take their signals accordingly. Some business models boom, some business models fail, as a direct result of changing this unintentionally-added speedbump. Different users value adoption, decentralization etc. differently. The size limit is an economic policy lever that needs to be transitioned -away- from software and software developers, to the free market. A simple, e.g. hard fork to 2MB or 4MB does not fix higher level governance problems associated with actors lobbying developers, even if a cloistered and vetted Technical Advisory Board as has been proposed. On Sun, Jun 14, 2015 at 1:20 AM, Eric Lombrozo <elombrozo at gmail.com> wrote: > I definitely think we need some voting system for metaconsensus…but if > we’re going to seriously consider this we should look at the problem much > more generally. Using false choices doesn’t really help, though ;) > > - Eric Lombrozo > > > On Jun 13, 2015, at 10:13 PM, Jeff Garzik <jgarzik at bitpay.com> wrote: > > On Sun, Jun 14, 2015 at 1:08 AM, Eric Lombrozo <elombrozo at gmail.com> > wrote: > >> 2) BIP100 has direct economic consequences…and particularly for miners. >> It lends itself to much greater corruptibility. >> >> > What is the alternative? Have a Chief Scientist or Technical Advisory > Board choose what is a proper fee, what is a proper level of > decentralization, a proper growth factor? > > > -- Jeff Garzik Bitcoin core developer and open source evangelist BitPay, Inc. https://bitpay.com/ -------------- next part -------------- An HTML attachment was scrubbed... URL: <http://lists.linuxfoundation.org/pipermail/bitcoin-dev/attachments/20150614/b1a4825d/attachment.html>