|
September 11, 2015, 06:04:49 PM Last edit: September 13, 2015, 10:35:02 AM by coalitionfor8mb |
|
The ideas expressed in the blog (although very interesting) seem too radical for the situation at hand.
While author advocates having hard-forks with regular intervals in order to keep improving Bitcoin (which I support as well), he intends to abolish the limit completely not realizing that it's the only measure that forces people to come together and decide on the future of Bitcoin. Without the limit there will be little to no incentive to do that and the inertia of the process will make sure that any attempts to change it get shut down.
The limit in question serves as a coherency mechanism for Bitcoin and is similar to a barrier in pthread terminology. No thread is allowed to run further until all threads reach the barrier, share their experiences with each other and decide on the next run. The limit determines the bandwidth target for the network and therefore is the only guardian of the consensus.
|