THELOGICALINDIAN - By Bitcoincom CEO Roger Ver
(Editor’s Note: This commodity was originally published in August of 2015 and was anon censored from /r/Bitcoin and several added places. The adaptation beneath has been adapted to acclaim abutment for Bitcoin Unlimited.)
Recently there has been an uproar in the Bitcoin association over a abeyant access of the Bitcoin block size. There are abounding bodies I account acutely on both abandon of this issue, but abominably we’ve apparent some associates of the association resorting to absolute censorship in adjustment to stop the debate. Censorship is never the answer. The acumen myself and abounding others became absorbed in Bitcoin was because of its adeptness to abide banking censorship. Let’s not administer aloft ourselves the actual affair that Bitcoin was advised to advice prevent.
Currently, abounding bodies assume to be beneath the apocryphal consequence that bigger blocks beggarly beneath abounding nodes on the Bitcoin network, arch to added centralization, and a college likelihood of governments actuality able to subvert, censor, or contrarily ascendancy Bitcoin. If this were true, I would absolutely argue any access to the block size, but I anticipate this is acutely amiss for several reasons.
Clearly, bandwidth and accumulator are not attached factors to accretion the block size. Moore’s law will abide to accomplish these factors alike beneath of an affair in the future.
Currently, there are about 6,000 abounding nodes active on the bitcoin network, with a asperous appraisal of 6,000,000 Bitcoin users. That agency about 0.1% of Bitcoin users bother to run a abounding node.
I anticipate it is a fair acceptance that best of these 6,000 people, myself amid them, are active abounding nodes artlessly because they are absorbed in Bitcoin, and it is acceptable that this allotment will not change added than an adjustment of consequence into the future.
The accepted adaptation of Bitcoin Unlimited can calmly access the block admeasurement absolute to 8MB. An 8x block admeasurement access agency there would be allowance for eight times as abounding Bitcoin users, so that would beggarly up to at atomic 48M users from the accepted estimated 6M. 0.1% of 48M would be potentially 48,000 abounding nodes. Even if the accord bulk of bodies active abounding nodes drops by half, we still accept 24,000 abounding nodes or added than four times the accepted amount.
In short, I anticipate it should be bright to anybody that bigger blocks will acceptable beggarly added abounding nodes about the world, and accordingly added decentralization, not less. This will accomplish Bitcoin alike added difficult to control, censor, or be chock-full by anyone, including governments. If you appetite Bitcoin to become an alike bigger Honey Badger of money, we charge to access the block size, not absolute it. If you appetite to appearance your abutment for bigger blocks today, you can do so by active a abounding bulge with the software from xtnodes.com
Let me apperceive why you anticipate adopting the block admeasurement is a acceptable or bad abstraction in the animadversion area below. I’ll do my best to participate in the altercation as well.
Images Courtesy of Reddit, Shutterstock
