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Author Topic: Why was the block size not increased?  (Read 774 times)
BlackHatCoiner
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December 25, 2023, 03:26:31 PM
Last edit: December 25, 2023, 03:41:27 PM by BlackHatCoiner
 #61

No @BlackHatCoiner , i'm using translator  from my born language:). - I Hope it is not Illegal on this forum?
It is not forbidden, but it seems like I'm chatting with GPT. (Also, don't bold entire sentences, it is not readable)

Reward halves, block size doubles. I think this would be a good solution! Was this even discussed before?
But reward doesn't halve. Subsidy does. There is no correlation between the block size and the subsidy. The reward decreases on the long term, but that's because of the mere assumption that the transaction fees will be less than the current subsidy. The current wave of Ordinal transactions shows that the network can pretty much survive by transaction fees alone, and we're years before it is adopted in a mass scale.

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1715226054
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philipma1957
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December 25, 2023, 04:46:10 PM
 #62

No @BlackHatCoiner , i'm using translator  from my born language:). - I Hope it is not Illegal on this forum?
It is not forbidden, but it seems like I'm chatting with GPT. (Also, don't bold entire sentences, it is not readable)

Reward halves, block size doubles. I think this would be a good solution! Was this even discussed before?
But reward doesn't halve. Subsidy does. There is no correlation between the block size and the subsidy. The reward decreases on the long term, but that's because of the mere assumption that the transaction fees will be less than the current subsidy. The current wave of Ordinal transactions shows that the network can pretty much survive by transaction fees alone, and we're years before it is adopted in a mass scale.

that is the good thing about this

year ——————-rewards————-——- fees
2009/2012         50 >>>>>>>>>> under 0.1
2012/2016.         25.                        under 0.05-0.1
2016/2020.        12.5.                      0.1-2.0
2020/2024.          6.25.                    0.2-5.0
2024/2028.          3.125.                  1.0-6.0.  seems possible


the major pools (foundry) are black box and not transparent.n you need 20ph+ to join them

foundry can down clock to crowd the mempool then over clock to grab extra higher fee blocks which they helped to create by down clocking.


in 2024 the reward penalty for a block lost due to downclocking becomes ½ so right now it costs 250k in rewards for blocks lost trying to clog the chain. april that cost drops to 125k a bargin

should be real interesting after this ½ ing.

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Hamza2424
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December 25, 2023, 06:45:27 PM
 #63

But I am thinking recently that if the block size is increased, more transactions can be processed and the mempool will not be congested.

In a perfect world, yes, but from what we've seen in recent months this would only lead to larger Ordinals Inscriptions rather than an increased transaction throughput. Maybe someone can correct me if I'm wrong, but if I'm not mistaken the current congestion is largely due to Ordinals, rather than regular transactions.

TBH, sir the inscriptions are just the bubbles, the inscription wave was crazy but their actual production is zero, and those who are minting these inscriptions are really not well aware of the DEFI ecosystems and Bitcoin network they are just seeking some temporary profits Rather than deploying a full fledge business.

In simple there's nothing need to be worried about for the overhyped bubble of the inscriptions they are going to be dead sooner they we are expecting.

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