Vlad hosts the best podcast in Bitcoin
@TheVladCostea
“Big blocker” is a pretty unfair description for guys who favor the most conservative & least risky way to scale Bitcoin.
It’s also filled with silly propaganda, as storage & internet speeds have only gotten faster + cheaper, plus the slippery slope of “gigamegs” is not what anyone proposes.
Oh, you think the inscribooors will exploit the extra block space? Guess what: the logic of their perception of value leverages the limited block space. More space will effectively dilute the value of all collections because the cost to inscribe is an important metric in determining the token’s price.
But in between the cracks, people will be able to get privacy for cheaper, move their “dust” to consolidation outputs, do multisigs without worrying about the fees in the future, onboard L2s at a lower cost & also return to the base layer without worrying that their small amount of BTC becomes dust.
8 MB or 16 MB should suffice for now. These larger blocks won’t get filled all the time. Bitcoin currently supports 4 MB blocks, but the average is still around 2 MB. But the mempool will clear much faster, the transactions will have greater certainty of confirmation without RBF/CPFP, the UX significantly improves.
Miners will also enjoy collecting more fees from more users, at a faster rate. Get over your 2017 PTSD, the world around you has changed since then. Hardware & infrastructure is better, faster & cheaper. And every workaround to increasing the block size comes with lesser understood tradeoffs.
dr.fred /
npub1he…ymce6
2024-09-06 12:14:00
Author Public Key
npub1heysg4r5mq354k7n3hlk0wae4c4x6p5kh7qfu38fe5f24s82vvvqxymce6Published at
2024-09-06 12:14:00Event JSON
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"content": "Vlad hosts the best podcast in Bitcoin\n@TheVladCostea\n“Big blocker” is a pretty unfair description for guys who favor the most conservative \u0026 least risky way to scale Bitcoin. \n\nIt’s also filled with silly propaganda, as storage \u0026 internet speeds have only gotten faster + cheaper, plus the slippery slope of “gigamegs” is not what anyone proposes. \n\nOh, you think the inscribooors will exploit the extra block space? Guess what: the logic of their perception of value leverages the limited block space. More space will effectively dilute the value of all collections because the cost to inscribe is an important metric in determining the token’s price. \n\nBut in between the cracks, people will be able to get privacy for cheaper, move their “dust” to consolidation outputs, do multisigs without worrying about the fees in the future, onboard L2s at a lower cost \u0026 also return to the base layer without worrying that their small amount of BTC becomes dust. \n\n8 MB or 16 MB should suffice for now. These larger blocks won’t get filled all the time. Bitcoin currently supports 4 MB blocks, but the average is still around 2 MB. But the mempool will clear much faster, the transactions will have greater certainty of confirmation without RBF/CPFP, the UX significantly improves. \n\nMiners will also enjoy collecting more fees from more users, at a faster rate. Get over your 2017 PTSD, the world around you has changed since then. Hardware \u0026 infrastructure is better, faster \u0026 cheaper. And every workaround to increasing the block size comes with lesser understood tradeoffs.",
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