Bitcoin needs bigger blocks now

in #bitcoin8 years ago

The simple fact is that a low block size limit makes transaction confirmation delays more common. This frustrates new users and requires existing users to give more complicated explanations about how to use bitcoin. This is terrible for the growth of the network. The bitcoin network was not designed to have demand hitting the block size limit.

The main reason given for keeping a low block size limit is "centralization" but this is a false concern. There are plenty of bitcoin nodes at the moment . More than 2000 nodes means plenty of redundancy. So its a terrible idea to buy more nodes for the price of frustrating new users.

We need bigger blocks now to ensure the greatest growth for the bitcoin network. The power to raise the block size limit is in the hands of bitcoin miners and mining pool operators. We can at least spread awareness about this problem and try to educate people about why bitcoin performance may behave unpredictably until this is resolved.

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bring on a Dash revolution? there are several things that could happen in this regard. I'm writing a paper on it atm... but there is no fork planned for a while and looking at the slush votes it still leans toward bitcoin core as opposed to classic (i've got my miners on classic - the 2mb block system)

Check the stats:
https://slushpool.com/stats/

this does not account for other, bigger pools like antpool and the like but that is because of the internet wall of china.... anyway, 1 am here... haha