jameslewis on Nostr: Listening to "The Blocksize War," currently. I just finished "Hijacking Bitcoin" a ...
Listening to "The Blocksize War," currently. I just finished "Hijacking Bitcoin" a couple days ago, too. All that was going on right as I was still a newbie, so it's really good to learn the history. All things said, I think I have been approaching a balanced stance on block size.
Keeping 1MB ad infinitum won't sustain a global self custody future, yet fee pressure is necessary for stability and security. If we are to increase, it'll have to be real strict rules, like the rate of increase must be tight, the consensus must be near complete, etc.
In the future, we may have blocks that today look like what big blockers advocate, but they'll be succinct and packed with high value transactions, maintaining channels, supporting L2s, etc. When the users are there, a fee death spiral won't be an issue. The getting there must be done with extreme caution.
Like the old adage goes, before tearing down a fence, be sure it's not been erected to keep in a bull.
#bitcoin #blocksize #feelingBullish #lightning
Keeping 1MB ad infinitum won't sustain a global self custody future, yet fee pressure is necessary for stability and security. If we are to increase, it'll have to be real strict rules, like the rate of increase must be tight, the consensus must be near complete, etc.
In the future, we may have blocks that today look like what big blockers advocate, but they'll be succinct and packed with high value transactions, maintaining channels, supporting L2s, etc. When the users are there, a fee death spiral won't be an issue. The getting there must be done with extreme caution.
Like the old adage goes, before tearing down a fence, be sure it's not been erected to keep in a bull.
#bitcoin #blocksize #feelingBullish #lightning