I’ve been accused of being too flippant about increasing the block size limit. This series of blog posts is meant to show that I’m not, that I have carefully thought about risks and benefits. I stepped back from the role of lead committer exactly so I would have the time to think about bigger-picture issues like this one. Today I’d like to address, head-on, this argument against changing the one-megabyte blocksize limit:
Larger-than-one-megabyte blocks have had insufficient testing and/or insufficient research into economic implications and/or insufficient security review of the risks versus benefits.
This is tough to respond to– there can always be more testing or research, especially for a security-critical project like Bitcoin. It is easy to suffer from “analysis paralysis,” and I think the Core Bitcoin project has been suffering from analysis paralysis over the block size issue for
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