Mike on Nostr: Thought of the day. The Bitcoin Blocksize war of 2015 - 2017 is often referred to by ...
Thought of the day.
The Bitcoin Blocksize war of 2015 - 2017 is often referred to by people in the know as the fork wars and really was about the ability to allow hard forking within the Bitcoin protocol.
If this would have been allowed, then the current FUD issued by Blackrock suggesting the possibility of increasing the 21M coin limit would be real.
However, the actual war was about centralisation, if you allowed bigger blocks, that would enforce centralisation of the blockchain to large companies running it in public data centres. This would create centralisation, which is an attack vector that can be used by governments or large corporations.
Also, the “Big blockers” are right, Bitcoin base layer cannot be used as a scalable "Peer-to-Peer Electronic Cash System", as described in the white paper.
But if it were to be scaled to provide this, it would become the new Visa / Mastercard or Central bank, which can be taken down by any significant government or be taken over in a hostile move by any large corporation or consortium.
I would suggest that the Blocksize wars were actually the Decentralisation wars.
The Bitcoin Blocksize war of 2015 - 2017 is often referred to by people in the know as the fork wars and really was about the ability to allow hard forking within the Bitcoin protocol.
If this would have been allowed, then the current FUD issued by Blackrock suggesting the possibility of increasing the 21M coin limit would be real.
However, the actual war was about centralisation, if you allowed bigger blocks, that would enforce centralisation of the blockchain to large companies running it in public data centres. This would create centralisation, which is an attack vector that can be used by governments or large corporations.
Also, the “Big blockers” are right, Bitcoin base layer cannot be used as a scalable "Peer-to-Peer Electronic Cash System", as described in the white paper.
But if it were to be scaled to provide this, it would become the new Visa / Mastercard or Central bank, which can be taken down by any significant government or be taken over in a hostile move by any large corporation or consortium.
I would suggest that the Blocksize wars were actually the Decentralisation wars.