Replying to Avatar James A Lewis

Thinking about scaling again. What are the arguments for and against everyday people needing to be able to run full nodes? (small block/big block root arguments)

I'm not saying we need big blocks or Bitcoin is doomed, but I am saying that with technology getting better and storage getting cheaper, the need for small blocks will decrease.

Thoughts?

#askNostr #bitcoinscaling #bitcoin #layer2 #BTC #BCH
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Michael Henke 1y ago

Same arguments had been made before. Read up on the “block size wars” and you will find plenty of thoughts on the topic that are valid today still

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James A Lewis 1y ago

I'm looking for a synopsis. Got a source to which I can go?

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HODLBurger 1y ago

There's a book called The Blocksize War. I have not read it but hear it's a good overview.

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James A Lewis 1y ago

Okay. I'll see about checking it out.

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Durky-Durbin 1y ago

I just read “Hijacking Bitcoin" which features the other side to the block size wars. Ultimately, it seems that power lies with the miners. If there are not enough transaction fees to generate revenue, they will go to other blockchains. Transaction fees being too high, make people not want to spend (not to mention HODL mentality). Small block BTC has another cycle or two in it before these effects are relevant to price. But it’s hard to argue against the fundamental economic principle of a store of value emerging out of a medium of exchange, not the other way around.