[bitcoin-dev] Bitcoin XT 0.11A
aj at erisian.com.au
Sun Aug 16 15:44:42 UTC 2015
On 16 August 2015 at 15:49, Mike Hearn via bitcoin-dev <
bitcoin-dev at lists.linuxfoundation.org> wrote:
> Sorry you feel that way. I devoted a big part of the article to trying to
> fairly represent the top 3 arguments made, but ultimately I can't link to a
> clear statement of what Bitcoin Core thinks because there isn't one. Some
> people think the block size should increase, but not now, or not by much.
> Others think it should stay at 1mb forever, others think everyone should
> migrate to Lightning, people who are actually *implementing* Lightning
> think it's not a replacement for an increase ..... I think one or two
> people even suggested shrinking the block size!
That's been really unclear to me. Personally, I'd love to see a vote from
the core and XT developers on:
- what should the block size soft limit be in 12 months (min and max)
- what should the block size hard limit be in 12 months (min and max)
- at what rate should the hard limit grow over the next 10 years (min and
- what mechanism should be used to update the soft limit
(manual code change, time based, blockchain history, something else)
- what mechanism should be used to update the hard limit
(hard fork code change, time based, blockchain history, something else)
- what should the
fee level be in 12 months (after the reward halves)?
- what's a good measure of "(de)centralisation" and what value should
everyone aim for in 12 months?
As an interested newbie, I can't actually tell what most people think the
answers to most of those questions are. FWIW, mine would be:
- soft limit in 12 months: 1MB-4MB
- hard limit in 12 months: 2MB-20MB
- hard limit grows at 17-40% a year (and should be >4x average txn volume)
- update the soft limit by code changes or blockchain history
- update the hardlimit by (1) fee level, (2) miner vote, (3) hard coded
time updates at a conservative (low) rate, (4) hard fork every couple of
- transaction fees should in 12months should be lower per kB than today's
defaults, say 20%-50% of today's defaults in USD
- number of bitcoin nodes, should be 20% higher in 12 months than it is now
Anthony Towns <aj at erisian.com.au>
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