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QuantumAGI
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Increasing Block Size Will Only Impact Decentralization If Bitcoin Growth Exceeds Moore's Law

Sun Mar 06, 2016 12:04 am

Moore's Law leaves plenty of room for growth and I believe Bitcoin will reach a "happy" balance between decentralization and growth. In other words if centralization increases Bitcoin growth will slow down and vice versa.

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arnoudk
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Re: Increasing Block Size Will Only Impact Decentralization If Bitcoin Growth Exceeds Moore's Law

Tue Mar 08, 2016 12:48 am

First, Bitcoin will have to hit the capacity limits of what is possible today. It has not, and even with no technical advancements there is a lot of room for scaling. Especially if you add on chain scaling solutions such as Xtreme Thin Blocks (developed by Bitcoin Unlimited, and portable to all 'competing' client implementations).

Once it has hit the current technical limitations - then you need to look at Moore's law, as the limits of what is possible keep getting pushed back.

I just bought a 6 TB harddisk, for just over $100 I think. That was unthinkable 5 or 10 years ago.

Before that, I bought a $35 raspberry pi 2 with a $35 128 GB micro SD card. It is running a FULL, unpruned, bitcoin classic node. That was unthinkable 5 or 10 years ago.

So you are right, that bitcoin's growth must exceed the current hardware limitations AND Moore's Law for there to be a problem. Those problems could potentially be fixed with LN, Side Chains, etc. They would work then, because there would be sufficient on chain capacity for them to do what they need to do, without ridiculous requirements such as "prepay your LN account with 6 MONTHS of expenses" (seriously!)

Be part of the solution! Let's scale.
Excited about the potential of Bitcoin Cash in the beautiful country of Belize.
Developer of the RegisterDocuments.com Document Registration Service (using the Bitcoin Cash blockchain).

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