[2016-07-08] FEE.ORG: Don't Increase the Block Size for Bitcoin Transactions

[LiteCoinGuy]

Don't Increase the Block Size for Bitcoin Transactions

For those that are unaware, the Bitcoin protocol contains a built-in limitation: only 1 MB of transaction data can be transmitted in each “block” of transactions, which settle about every ten minutes. This blocksize cap was implemented by Satoshi Nakamoto himself, as a means of preventing a particular denial-of-service attack on the network.

As a huge fan of the Foundation for Economic Education, I still disagreed with a recent article by Roger Ver, colloquially known as “Bitcoin Jesus,” in favor of raising the blocksize cap. Let me preface this by saying that Roger Ver is an asset to the libertarian movement. His devoted advocacy for free markets and financial support for so many institutions have done tremendous good. However, when it comes to the issue of the blocksize cap, I believe Roger has let his zeal for Bitcoin take over the world to cloud his better judgement.

https://fee.org/articles/dont-increase- ... nsactions/