This makes me a little upset. If it wasn't intended and within the year this block size will hold the whole of the network back.
It seems like the limit will be increased eventually. Whether or not this happens before the transaction volume overtakes the current 1 MB maximum is an open question.https://bitcoinfoundation.org/blog/?p=135
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There is a non-voluntary, hard-to-change, 1,000,000-bytes-of-transactions-per-block limit that needs to be raised.
And there is… uhh, “vigorous”… debate over when and how to change it. There are always debates over changing things; after the huge kerfuffle last year over multisignature transactions I had to step back and take a break when it was all over, I was so burned out from trying to respond to all the fear, uncertainty, and doubt.
I think a consensus on what to do is starting to emerge; I expect by my next development update we’ll have a plan.
The good news is we all learned a lot from that experience, so I’m confident that raising the 1MB limit will be only slightly painful for most people– you’ll just have to upgrade old Bitcoin software (which you should be doing regularly anyway).
And there is… uhh, “vigorous”… debate over when and how to change it. There are always debates over changing things; after the huge kerfuffle last year over multisignature transactions I had to step back and take a break when it was all over, I was so burned out from trying to respond to all the fear, uncertainty, and doubt.
I think a consensus on what to do is starting to emerge; I expect by my next development update we’ll have a plan.
The good news is we all learned a lot from that experience, so I’m confident that raising the 1MB limit will be only slightly painful for most people– you’ll just have to upgrade old Bitcoin software (which you should be doing regularly anyway).
