Bitcoin 21 mil limit directly tied with block limit why change ?

AgentofCoin

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Quote from: knolix on August 17, 2015, 06:56:21 PM

Quote from: StevenS on August 17, 2015, 06:36:52 PM

Quote from: knolix on August 17, 2015, 06:19:19 PM

Before now bouth arbitrary numbers 21 mil bitcoints and 1MB block size had fixed values

That is not correct. The 1MB block size limit was added in late 2010. Previously it was much larger.

It was larger but it was a fixed value and the change was possible because there was no transaction fee market yet

32mb was the original amount and the change to 1mb was to prevent a potential spam attack while the system was still in its infancy.

knolix

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MeVu

Quote from: StevenS on August 17, 2015, 06:36:52 PM

Quote from: knolix on August 17, 2015, 06:19:19 PM

Before now bouth arbitrary numbers 21 mil bitcoints and 1MB block size had fixed values

That is not correct. The 1MB block size limit was added in late 2010. Previously it was much larger.

It was larger but it was a fixed value and the change was possible because there was no transaction fee market yet

StevenS

full member

Activity: 206

Merit: 100

Quote from: knolix on August 17, 2015, 06:19:19 PM

Before now bouth arbitrary numbers 21 mil bitcoints and 1MB block size had fixed values

That is not correct. The 1MB block size limit was added in late 2010. Previously it was much larger.

knolix

member

Activity: 176

Merit: 10

MeVu

The market is based on suply and demand for bouth BTC and BTC blocksize
With each halving the security of the network relies more on transaction fees and less on block reward

Before now bouth arbitrary numbers 21 mil bitcoints and 1MB block size had fixed values

Why change that now?

Please advise what to do not to lose value of my BTC investment

Best Regards

Topic: Bitcoin 21 mil limit directly tied with block limit why change ? (Read 458 times)