[2015-06-20] Bitcoins new block size limit solidifying at 8 megabytes

[LiteCoinGuy]

Bitcoins new block size limit solidifying at 8 megabytes

As Bitcoin grows in popularity, the number of transactions that are recorded in each 10-minute block on the blockchain, are increasing rapidly. Every now and then the one-megabyte limit on blocks is reached, which can create slower transactions that have to wait for the next block in order to be recorded.

http://bravenewcoin.com/news/bitcoins-new-block-size-limit-solidifying-at-8-megabytes/

[DooMAD]

It's a relief we've got most of the drama and FUD out of the way and the community is now having a sensible discussion.  For all the grief about individual personalities taking over, it demonstrates that consensus is still paramount and changes won't be made unless the majority deem it necessary.  Obviously we're never going to please everyone and there's always going to be some dissent, but it's clear that a larger blocksize is needed and, for what little it's worth, I'm personally happy to settle for 8MB.

[LiteCoinGuy]

well said.

[Chef Ramsay]

Well, we haven't got out of the woods just yet but I do hope this tussle ends correctly to benefit bitcoin in the end. This entire battle/argument or whatever should make bitcoin more usable by the many but not increase the monetary supply at all. Let's hope the good happens and that's it at this point.

[bryant.coleman]

So, finally a compromise has been reached, between the sides advocating to increase the block size to 20 MB and the ones who wanted to retain the old 1 MB limit. I don't know whether the Chinese exchanges and miners will agree to increasing the block size to 8 MB. They were the ones, who were most vocal in retaining 1 MB as the block size.

[1Referee]

So, finally a compromise has been reached, between the sides advocating to increase the block size to 20 MB and the ones who wanted to retain the old 1 MB limit. I don't know whether the Chinese exchanges and miners will agree to increasing the block size to 8 MB. They were the ones, who were most vocal in retaining 1 MB as the block size.

What's the difference between the 1MB size that China seems to prefer, compared to the 8MB block size? (Beside the obvious fact that 8MB blocks can handle way more data/transactions)

[Muhammed Zakir]

So, finally a compromise has been reached, between the sides advocating to increase the block size to 20 MB and the ones who wanted to retain the old 1 MB limit. I don't know whether the Chinese exchanges and miners will agree to increasing the block size to 8 MB. They were the ones, who were most vocal in retaining 1 MB as the block size.

Chinese, though not all, agreed to increase block size limit to 8MB.

[LiteCoinGuy]

So, finally a compromise has been reached, between the sides advocating to increase the block size to 20 MB and the ones who wanted to retain the old 1 MB limit. I don't know whether the Chinese exchanges and miners will agree to increasing the block size to 8 MB. They were the ones, who were most vocal in retaining 1 MB as the block size.

they accepted the increase weeks ago. they are ok with 8 MB. and by the way, their whole business depends on a blocksize increase.

[LiteCoinGuy]