[bitcoin-dev] Managing block size the same way we do difficulty (aka Block75)
teekhan42 at gmail.com
Sun Dec 11 21:40:21 UTC 2016
On Sun, Dec 11, 2016 at 3:31 PM, James Hilliard <james.hilliard1 at gmail.com>
> What's most likely to happen is miners will max out the blocks they
> mine simply to try and get as many transaction fees as possible like
> they are doing right now(there will be a backlog of transactions at
> any block size). Having the block size double every year would likely
> cause major problems and this proposal allows over a 7x increase it
Block75 is not exponential scaling. It's true the max theoretical increase
in the first year would be 7x, but the next year would be a max of 2x, and
the next could only increase by 50% and so on.
However, to reach the max in the first year: 1) ALL blocks would have to be
100% full and 2) transactions would have to increase at the same rate. We'd
have to be doing 2.1 million transactions a day within a year to make that
happen, and would therefore need blocks to be that big.
Realistically, max block size will grow (and shrink) at a much slower rate
... even more so with SegWit.
> The main problem with this proposal I think is that users effectively
have no way to stop the miners from increasing block size
Yes they could, simply by not sending transactions. Users don't care at all
about block size. They just want their transactions to be fast and
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