[2015-08-21] CD: What is the Bitcoin Block Size Debate and Why Does it Matter?

Carlton Banks

legendary

Activity: 3430

Merit: 3083

Quote from: ?? on ??

Quote from: Carlton Banks on August 21, 2015, 01:26:16 PM

1 MB (1,048,576 bytes), divided by 226 bytes for the minimum transaction size, then divide by 10 minutes, then by 60 seconds.... that'll be a maximum peak rate of, well whaddya know: ~ 7.733 tx/second.

Keep trying, eventually one of these arguments will stick.

You claimed that block size increase is about "increasing the transaction rate". It's possible for Bitcoin to run at more than 7 tx/s, but they aren't being confirmed thus creating a backlog.

...and if they're not being processed, then you can't contribute them towards a tally that determines the rate. This is startlingly duplicitous coming from you. You've seemed like a rational, intelligent and informed member of this community for such a long time, can you really not tell the difference between transactions that get processed and those that don't?

Edit: I think I understand. Do you think I mean "decreasing the block interval" when I say "increasing the transaction rate"? My apologies if that's the impression you got, it's not what I intended.

Carlton Banks

legendary

Activity: 3430

Merit: 3083

Quote from: ?? on ??

Quote from: Carlton Banks on August 21, 2015, 10:29:43 AM

And one would ameliorate transaction backlogs with....?

And 100tx/s? How does 210,000 transactions in a day equate to 100 tx/s? 86, 400 seconds in 24 hours, divide 210,100 by that number and it's much less than 100 tx/s. Maybe my math's wrong, but that sounds off.

Peak rate, not a rate that was maintained for an entire day.

What you're actually referring to is the peak backlog then.

1 MB (1,048,576 bytes), divided by 226 bytes for the minimum transaction size, then divide by 10 minutes, then by 60 seconds.... that'll be a maximum peak rate of, well whaddya know: ~ 7.733 tx/second.

Keep trying, eventually one of these arguments will stick.

Carlton Banks

legendary

Activity: 3430

Merit: 3083

Quote from: ?? on ??

Quote from: Carlton Banks on August 21, 2015, 09:46:58 AM

It's actually a debate about how to incresae the transaction rate, NOT about the block size only.

How so? The stress tests created a backlog of 200MB and transaction rates above 100 tx/s.

And one would ameliorate transaction backlogs with....?

And 100tx/s? How does 210,000 transactions in a day equate to 100 tx/s? 86, 400 seconds in 24 hours, divide 210,100 by that number and it's much less than 100 tx/s. Maybe my math's wrong, but that sounds off.

Carlton Banks

legendary

Activity: 3430

Merit: 3083

How incredibly misleading for Coindesk to describe it that way (stopped reading their corporate/government leaning stuff long, long ago)

I doubt that the community is "split down the middle", that implies there are only two sides to the debate, which is definitely not the case.

It's actually a debate about how to incresae the transaction rate, NOT about the block size only. And it's not only about the size of blocks (totally unimaginative way of framing it). And it's also about whether the limit should have scheduled increases or dynamic resizing. This kind of simplistic presentation can so easily lead people to make simplistic conclusions.

I liked the "constitutional crisis" description though, they did well there.

LiteCoinGuy

legendary

Activity: 1148

Merit: 1014

In Satoshi I Trust

What is the Bitcoin Block Size Debate and Why Does it Matter?

Bitcoin is divided. Some are calling it the currency’s "constitutional crisis", a debate that has split its community right down the middle.

The crux of the issue comes down to a single technical detail: the size of bitcoin’s blocks.

http://www.coindesk.com/what-is-the-bitcoin-block-size-debate-and-why-does-it-matter/

Coindesk is writing an article about block size - wow Cheesy

Topic: [2015-08-21] CD: What is the Bitcoin Block Size Debate and Why Does it Matter? (Read 790 times)