All posts made by uxgpf in Bitcointalk's Wall Observer thread

intentionally throttling the network to collect more fees is like strangling the golden goose to get more eggs.

Or like jumping out of a certain wooden sculpture when the walls of Troy first come into view?

Our like trying to charge money for an infinite resource?

Bip 101 timescale:

Year. Size. Reward. blockchain size (rough estimate)
2016 8MB. 12.5. 40GB
2020 32MB 6.25. 3.4TB
2024. 128MB 3.125. 16.8TB
2028. 512MB 1.5625. 70.56TB
2032 2048MB 0.78125. 285.6TB
2036 8192MB 0.390625. 1145TB

How many individuals do you think will be incentivized to store more than a petabyte of data with no compensation? The good news is that Gavin's plan is preposterous and will never gain traction, so fortunately there's nothing to worry about. Cool

2036 is in 21 years. How big was a hard drive 21 years ago? (hint: a tiny fraction of the storage on my current 3 year old phone). Storage is so cheap now that if you include cloud storage like dropbox, it's free.
This is the same fallacy the Malthusians made about mass starvation with population doubling every forty years. Didn't happen. All famines today are political, including ours.

some people have no foresight Cheesy

Since 0.11 (Both core and XT) it's also been possible to run a node with a pruned blockchain

For example to limit blockchain to latest 10 GB of history would be:

Code:

$ bitcoind -prune=10000

When pruning is active the wallet is disabled as a safety feature. But if no problems arise, I guess it will be enabled soon.

Maybe this culls some fears of the blockchain bloat as the user can now choose how much data he/she is willing to store and still run a fully validating node. It's one less obstacle to growth of bitcoin and increasing/lifting blocksize cap.

Quote from: Fatman3001 on September 10, 2015, 06:02:48 AM

Quote from: billyjoeallen on September 10, 2015, 05:36:59 AM

$237. The market is saying what it thinks about 7 tps.

Don't worry. The Devs will meet in Canada. Everyone agrees in Canada. It's the consensus capital of the world!

Well, except the French.

I wouldn't put my hopes up.

They have talked about it since early 2013 and haven't got it done. If anything their views are now more entrenched than ever.

Showing some support for raising the block limit will make their decisions easier and the only way to do that is to run the code. So install Core+BIP 101 or XT and be done with it. Let them veto till the end of days if they wish, the community doesn't need to wait for these guys.