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Author Topic: Roger Ver and blocksize  (Read 8064 times)
martinacar
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July 10, 2016, 03:45:41 PM
 #141

Bitcoin is censorship resistant super money. You got to pay for this flight. Cool
Bitcoin is pretty cheap considering what it offers. It's unfortunate that some are just greedy and want to rush user adoption as soon as possible. What we should be doing is continue developing a very secure and resistant system (the less decentralized it is, the less resistant it is) that was supposed to help us move away from the corrupt traditional system (money out of thin air).

People really need to stop listening to him when it comes to technicalities.

Anyway the real elephant in the room is centralization: https://www.reddit.com/r/btc/comments/4s5ar0/the_top_5_pools_all_chinese_now_have_824_of_the/
This is disheartening.
This is somewhat of an issue right now, and this makes one wonder why anyone in their right mind would propose changes that would give the miners even more control (e.g. control the block size limit).

If blocks were bigger, there could be more users, which would cause bitcoin to be even more decentralized.  With blocks small and the "fix" of the lightning network (which is a centralized off-chain system) bitcoin becomes more centralized.

I am not sure how bigger blocks lead to more users? It will lead to a better and faster block finding which will speed up transactions.
If the blocks are full it can take hours to get a transaction being confirmed.
ATguy
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July 10, 2016, 04:05:24 PM
 #142

In the UK, you can send money to other people for free, even you and the person receiving the funds are with different banks.
Nothing is really free. The banks' networks and computers cost money to operate and someone somewhere is paying for it and the costs will eventually be passed back to you in one form or another.

It doesnt matter someone is paying for this. You can have free bank account and transaction fees. Those who dont put much time how to choose free bank account service, basically pays all the fees for you. The only downside is you still hold fiat, which is not transparent currency (no public ledger availabe) so creating money out of nothing is very likely by those who controls the ledger.

With Bitcoin, miners choose what fees are acceptable to include your transaction. But current tiny block size was set long ago, technology improved since then.

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