I respect Fred, but I think he is wrong on the block size increase. An increase in the block size is an inflation bug to the miners revenue. The miners rely on the block size to remain scarce so they can make a living. Increasing the blocksize is stealing from them.

A 4x increase in the blocksize won't work that's linear thinking, we just need other layers that can a pack a billion transactions into a single tx in the #bitcoin base layer.