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A comment on The senatorial governance of Bitcoin: making (de)centralized money. Parent comment

Re:The senatorial governance of Bitcoin: making (de)centrali... by alasano on Monday January 06, 2020 @10:26PM (#21976530)
Every block has a limited amount of space for transactions (1 MB previously, 4 and up to 8 technically with segregated witness?) , the person mining the block includes transactions based on fees provided by users initiating the transaction.

If there are tons of people looking to make transactions, fees go up or down based on people's willingness to pay to be included in the next block.

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Re:The senatorial governance of Bitcoin: making (de)centrali... by lawn on Tuesday January 07, 2020 @12:19AM (#21977139)
In practice Segwit only increases the blocksize to 1.4 MB for normal transactions and theoretically to 4 MB, but then blocks are filled with special kinds of transactions people don't really use.

It also doesn't really increase the blocksize, but move some data outside of the blocksize calculation to make room for more transactions. The important difference is that Segwit is opt-in and depend on usage for it's effect, while a blocksize increase would immediately increase transaction throughput to its full capacity.

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Re:The senatorial governance of Bitcoin: making (de)centrali... by nighthawk24 on Tuesday January 07, 2020 @10:24AM (#21980752)
Bitcoin Cash chain has done increasing the blocksize rightfully.
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