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The Reduction in BTC Block Size Is Controversial But Conversations Continue
A chart from Veriblock’s recent Medium blog post describing how they have switched to Segwit bech32 transactions.

The Reduction in BTC Block Size Is Controversial But Conversations Continue


When several people told Luke this week that there were no problems with the Segwit transaction and blocked the abuse of space, the developer responded: "Rejecting the problem won't fix it - Reducing the block size is possible." Coldcard founder and founder Rodolfo Novak agreed with Luke Jr.'s assessment and tweeted that "smaller blocks can be broadcast by radio around the world at very cheap prices - I support this." Hours later, Luke again insisted that the block size needed to be reduced for technical reasons and "Segwit solved his theory." by creating broken incentives. "Luke says there are various methods that can be used to implement block size reduction:" Miners can only do the right thing and reverse the settings, users can pay higher fees to miners that they can only collect if they do the right thing. (bad precedent?), and users can use UASF to enforce new limits. "Then someone asked the programmer if a hard fork was needed to reduce the block size and Luke just said" no. "

Luke's statement was not welcomed by everyone and the topic was discussed on social media, it even appeared on the funny Reddit / r / buttcoin forum. " There is no such thing as bitcoin spam, I hate Veriblock. Either you pay for space or you don't get onchain at all, "an individual chimed in on Twitter. Others ask Luke to explain more accurately why the Veriblock transaction did not achieve its intended purpose." What bitcoin features are designed to prevent this? Who is the user Bitcoin? How do you measure what they agree on? "They asked but didn't receive a reply from the developer. Another person wrote: "There is no problem here - Veriblock will issue its own price." The following day, the developer continued to promote the idea of reducing the block size. "At present, Veriblock pays half of the fees that have to be paid by equivalent legitimate users to defeat them," Luke exclaimed. Next, the programmer adds:

Reducing the block size allows us to fix it by making the same fee rates for both.

BTC Traffic Increases and Costs Continue to Increase After Prices Jump Over the $ 10K Zone


At the moment, we don't know whether Luke's idea will convince other BTC developers because the concept has never gained traction before. Nonetheless, the conversation about reducing block size continues to emerge every few months, in addition to BTC supporters discussing the pros and cons of lifting the supply limit of 21 million coins in the future. In addition, there are people who believe that if certain groups get prices from block space, individuals can easily migrate to the Lightning Network and maybe even to the Liquid Blockstream chain.

https://twitter.com/LukeDashjr/status/1174371421063192578

However, with the BTC chain limited to 1MB, there are people who believe that many people have been given a price for using bitcoin. This week the cost of the BTC network is between $ 0.50-1.00 per transaction, which excludes billions of people from third world countries. When costs are growing higher than now, some bitcoin decimals have really become neutral and even more users are given prices out of 'sacred' block space. Those who believe that maintaining a 1MB block size for the BTC chain is still a striking problem and that Segwit doesn't help much thinking that reducing the block size even further is a ridiculous idea. In fact, network costs have jumped significantly and fighting for block space has become very clear again during the spring and summer of 2019. To this day, traders continue to stop supporting cryptocurrency because of network congestion and high transaction costs.

What do you think about BTC supporters who don't like Veriblock transactions? What do you think of Luke Jr. asking the community to consider reducing the block size? Let us know what you think of this subject in the comments section below.

Source: https://news.bitcoin.com/
Tiny Block Advocates Speak Up After Veriblock 'Abuses' of Bitcoin Block Size.
Bitcoin Block Size

Tiny Block Advocates Speak Up of Bitcoin Block Size After Veriblock 'Abuses'


The Bitcoin community recently celebrated the fact that Segregated Witness transactions accounted for 50% of transactions and bech32 transactions also doubled. However, the celebration quickly ended when some BTC developers found out where the transaction came from and got angry at the Veriblock project for using scarce block space. Bitcoin Core developer Luke Jr. urges the BTC community to reduce the block size limit. He further called Veriblock "spammers" and perpetrators "increasing the size of the Segwit block to benefit from legitimate Bitcoin users."

Arguments for Rare Block Spaces and Bitcoin Users 'Legit'.


Block space is a contentious subject in the BTC community because many people believe it is sacred and is only intended for "legitimate" users. Although this opinion is very subjective, many BTC supporters believe that only certain transactions may be allowed on the chain and others are considered "spam" or "abuse." For example, founder of the consulting firm Bitcoin Advisory, Pierre Rochard, discussed how people mistakenly used the term "cost market" when it had to be considered a "block market" at the Baltic Honeybadger conference.

Then,  BTC advocate Brad Mills published a post called "Transaction Eugenics: Bitcoin Block Spaces are Rare Resources & Protocol Developers are Scientific Innovators." on September 15. The post outlines why he considers the BTC block space to be valuable and why "the 1MB stamp is transaction eugenics and the developer of Bitcoin is a scientist who innovates at the edge of making humanity better."  The post was controversial because of Mills's choice of words because of the term "eugenics" refers to the science of population control and eliminating undesirable traits from humans.

Core Developers Experiencing Problems with Veriblock Project, Asks BTC Community to Consider Reducing Block Size


A few days after BTC supporters celebrated the increase in Segwit and bech32 transactions, they learned that the project was blamed by Veriblock. Veriblock even wrote a post about it on September 16 and specifically said the protocol would "now take up more space on Bitcoin." The step towards the Segwit transaction comes from the Veriblock team which released a proof-of-proof (PoP) alpha activated Segwit-enabled proofer. In addition, the team highlighted that Segwit PoP transactions (bech32) will be ~ 28.9% cheaper for operations. Veriblock made headlines a few months ago when the project captured more than 30% of all BTC transactions in February and March. At that point, several BTC influencers despised the Veriblock project and developer Jameson Lopp aforesaid it absolutely was "inefficient" et al. known as it "trash." Now, once the Veriblock protocol captures plenty of bw32 Segwit transactions, BTC developers like Luke son. get irritated with matters.

A chart from Veriblock’s recent Medium blog post describing how they have switched to Segwit bech32 transactions.
"So it turns out (not too surprising) that spammers are abusing the increasing block size of Segwit to benefit from legitimate Bitcoin users," Luke said on September 17. "Reducing the block size limit can balance the unfair advantages / bad incentives that Segwit has made." BTC developer Luke Jr is famous for proposing a reduction in block size and has submitted a proposal for progress. In the proposal specifications published in 2017, Luke argues that The developer must consider reducing the block size to 300 kilobytes. The developer claims the block size should shrink to "safe price, and step by step increase over time, eventually developing on the far side this limit." When programmers insist the block size must be reduced, the BTC chain is dense with transaction stacks (67,000 unconfirmed) and network costs continue to increase. Next - Controversial Over the Reduction in Block BTC Size, the Conversations Continues.

Source: https://news.bitcoin.com/tiny-block-advocates-speak-up-after-veriblock-abuses-bitcoins-block-size/