Oddbean new post about login | logout Remember when Elon was brand new to Bitcoin and immediately thought he'd fix it by increasing block size? But everyone cheered anyway because he was a billionaire pumping BTC? It never ends well, as the simps are about to find out
Suits holding bitcoin on Coinbase have no authority telling us how we should use bitcoin.
If you don't run a node, you have no say on the code.
Stupid question (especially to miners) but will/should the block size ever increase? Seems like it should be on a set schedule like the halving, considering Moore’s Law but way less frequent.
If you 10x the blocksize, it's still awfully small. You need to economize another way. I think something like segwit is acceptable though, because it incentivized a behavior that aided scaling. (ignore ordinals)
You want us to ignore that it also incentivized bad behavior LIKE ordinals? lol They really should have just simply raised blocksize to 2-4Mb instead of dancing around the what was the end result anyway 10x is small versus the entire world being users. But we dont have to support the world *right now* (if ever). That is not reality. There are far fewer user using the network (not a hypothetical) 10x is huge improvement for actual users.
Well, yes, but if we run into blockspace limitations, increasing blockspace won't fix much. Ordinals came and went, I don't think it was segwit's fault. Spammers gonna spam, as long as they pay for it it's fine. And I'm not running no 10 terabyte node btw. But the point was that the base layer going from 5-7 to 50-70 tps is not overly relevant in the context of scaling new financial solutions.
It was definitely aided by Segwit. You can argue it was worth whatever advantage Segwit brought, but "spammers" were given a massive discount (tbh not even sure if we should call them spammers since they paid the fee which *is* the spam deterrent mechanism). Without Segwit it would've made it not possible, reduced it, and/or made it significantly shorter. Anyone could easily say "I'm not running no 700+ gigabyte node". Why not 100kb blocks then? 10kb? It would make nodes cheaper to run and more decentralize. 5-7 to 50-70 tps, 10x, is huge for current users for the forseeable future wdym?
