Re:The problem with Bitcoin miners
by cowtools on Sunday May 15, 2022 @06:18PM
(#31391696)
Yes. The fees are mostly due to bitcoin's unreasonable 1MB blocksize constraint. Most other cryptocurrencies do not have this problem because they make a more reasonable throughput to bandwidth/storage tradeoff
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That constraint is perfectly reasonable and rational, not a thumbsuck.
It's neither reasonable or rational. As technology improves, the cost of bandwidth and storage decrease, and latency decreases. Rationally block size and block time should reflect that.
Without some way to squash history, I don’t see how it’s possible to fix this. The bitcoin chain is currently 400gb. If we bumped it up to 10mb blocks we would be looking at several terabytes while still not being anywhere near big enough to handle real transactions.
It does not really matter, as only miners (and large buisnesses accepting bitcoin) would need to run a full node.
All these non-mining nodes have no real effect over decentralization, as they can't counter a 51% attack.