Oddbean new post about login | logout Agree on all points. But we're living with the consequences and we can only look forward.
We don't have too . Lowering the limit to 300kb is softforkable AND with the witness discount we can still have 2MB blocks. The mistake is fixable
wait, how does that prevent people from bloating the chain?
You can't prevents that. We could prevent the amunt of data that can be stored with each block.
ah okay, and what would that protect, what would be the reasoning there
What are the cascading unintended consequences of that? Also 1mb is plenty. They'll just stuff bitcoin full of .webp images or vectors lol.
My problem isnt whats being stuffed. My problem is with the amount of data thats being stuffed
Yeah I understand that and that's the part I don't like as well. But the solution should be examined, reviewed, debated, and tested extremely thoroughly. Can't Elon musk the fix imo. And even then we won't know if there are any unintended consequences that come from it in terms of how things play out in practice. Users will be users and the era of tiny blocks might introduce incentives or ways of using bitcoin that we can't anticipate.
It wouldn't be tiny blocks though. They would effectively be double from pre 2017. https://twitter.com/ajtowns/status/1620084733299539970?t=9jOy3C8dVh6lGj5eFUTJjQ&s=19