Jun 22, 2015 · 1 min read

What a ridiculous amount of hyperbole and misrepresentation.

First of all, raising the block-size limit was, and always has been, the plan of record to deal with scalability.

In this article the author claims ‘there is no problem’ when, in fact, there is. He wants fee markets to emerge so transactions are processed by the highest bidder, and everyone else is priced out of the network.

At the current transaction limit the bitcoin network can, at most, handle only a few million users and, even then, that is assuming those few million people are making very few transactions.

Is this anyone’s ideal of success for bitcoin? A network that can only handle a few million people at most? Even with raising the block-size by an order of magnitude, we only open up the bitcoin network to a few tens of millions of people; better, but hardly world domination.

I don’t think anyone should feel satisfied that the bitcoin network will only ever support a few million users.

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