Why? I don’t understand this part. Please assist.
Discussion
BLOCK SPACE IS SCARCE.
ONLY SO MANY TRANSACTIONS CAN FIT IN EACH BLOCK.
AS MORE PEOPLE USE BITCOIN A SUSTAINED FEE MARKET SHOULD DEVELOP.
Block space is scare because energy consumption? Right?
WE INTENTIONALLY LIMIT BLOCK SPACE AT THE PROTOCOL LEVEL SO RUNNING NODES AND MINING BLOCKS IS MORE DISTRIBUTED.
Who are “ we “ in this situation?
No, it's about data limits.
Imagine a Bitcoin block as a Microsoft word page. With times new Roman letters in size 10 you can only write a certain amount of transactions into that page until it's completely clogged with letters. The more transactions, the less space on pages.
Small blocks mean that there is greater chance for a more decentralized network. Large blocks require processing and bandwidth out of the reach of people running commodity hardware (laptops, raspberry pi's, home computers). The less accessible bitcoin becomes to normal hardware and bandwidth, the more fuckery and collusion that can occur between large, powerful miners, and MINERS ARE OUR BITCHES AND ALWAYS SHOULD BE
Heard. 🫡
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Are you the arbiter of scarcity? Perhaps 1MB is too big?
The ant doesn’t know what’s best for the colony.