Is Bitcoin going to collapse tomorrow if we do not immediately address the block size increase issue?No. No, of course not. But the fervor surrounding this debate is understandable, even warranted, because we are talking about a technology and an international movement that has never been attempted before. The future of Bitcoin holds so much potential to change people’s lives (even to change history) that we all feel the pressure to get it right. That pressure generates a lot of impassioned argument.
So let’s cut through the hyperbole. Let’s examine the actual arguments for and against a block size increase.
A little background before we dive in. The first thing to note is that, as originally designed, bitcoin had no block size limit. That meant that the vision was for a network that could scale infinitely and process hundreds of gigabytes of information all over the globe.
See the arguments for and against the block size increase...
