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Author Topic: Block size 1 MB  (Read 205 times)
wooch4aeye
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November 17, 2017, 02:57:58 PM
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can small block size problem (only 1 MB) destroy bitcoin ?bitcoin will edit it ? or this is normal problem Huh
what happen if all developers make it 2 MB possible?

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November 17, 2017, 03:12:16 PM
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can small block size problem (only 1 MB) destroy bitcoin ? , bitcoin will edit it ? or this is normal problem Huh

Yes, this could be a problem / is already a problem as bitcoin is scaling.

There have been numerous BIPS to improve blocksize, read more about it here -> https://en.bitcoin.it/wiki/Block_size_limit_controversy

This was also one of the reasons that bitcoin cash was created, alot of people wanted less fees and faster transactions, which often consults in larger blocksizes.

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November 17, 2017, 04:12:25 PM
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can small block size problem (only 1 MB) destroy bitcoin ? , bitcoin will edit it ? or this is normal problem Huh

It will not destroy bitcoin, but it will destroy use cases for bitcoin, at least when it comes to on-chain transactions. Once fees are $10 on average, you can't pretend to sell a lot of articles that are on that $1 to $10 range, because the fee costs more than the product you want to sell.

The tradeoff to scale on-chain is that you inevitably reduce decentralization of the network since the nodes are heavier to run.

Lightning Network type solutions have been a proposal to avoid that, or just using other altcoins for small transactions, and leaving BTC as "digital gold".

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November 17, 2017, 04:12:54 PM
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can small block size problem (only 1 MB)

There is no problem.  This is an intentional feature, not a problem.

destroy bitcoin ?

The future is difficult to predict.  Those that are confident about the future are almost always wrong.  It seems unlikely that 1 MB blocks will destroy bitcoin (they've been limited to 1 MB for more than 8 years and it hasn't destroyed it yet), but I guess we'll just have to wait and see.  That's just one of the many reasons that Bitcoin is still considered to be "experimental".

bitcoin will edit it ?

Bitcoin is a protocol.  It is a set of rules.  It can't "edit" anything anymore than http, ftp, tcp/ip, or ssh can "edit" the 1 MB limit.  If you are asking if people will edit the rules, then they already have.  There are several alternatives available for those that want a different set of rules.

or this is normal problem Huh

It is normal.  It is not a problem.

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November 17, 2017, 04:49:33 PM
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...
The future is difficult to predict.  Those that are confident about the future are almost always wrong.  It seems unlikely that 1 MB blocks will destroy bitcoin (they've been limited to 1 MB for more than 8 years and it hasn't destroyed it yet), but I guess we'll just have to wait and see.  That's just one of the many reasons that Bitcoin is still considered to be "experimental".

...

My only note on this is small to point out that I believe the 1MB limit was added in 0.3.1 which was released July 2010 so it hasn't been at the 1MB limit for 8 years yet.  I only point this out because DannyHamilton's posts are always a great tool for people wishing to understand bitcoin and may be used as reference so want to ensure that even small things are correct.  ;-)

See source forge:
https://sourceforge.net/p/bitcoin/code/103/tree/trunk/main.h?diff=515630145fcbc978e39dbaa5:102

And:
https://bitcointalk.org/index.php?topic=383.0

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November 17, 2017, 04:55:23 PM
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My only note on this is small to point out that I believe the 1MB limit was added in 0.3.1 which was released July 2010 so it hasn't been at the 1MB limit for 8 years yet.

You are correct.

The code has had the 1 MB limit since July 2010.  However, the actual block size did not exceed 1 MB before that, so it could be argued that the block size has been limited (either by code or by miners) to less than 1 MB since bitcoin was introduced in the beginning of 2009.

In either case, it is misleading to claim that the blocks are still limited to 1 MB (making both of us "wrong") since SegWit allows for more than 1 MB of data to be associated with a block.

As always, generalizations are useful when introducing a concept to someone, but the actual implementation details matter when discussing limitations and real effects.

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