My comments on each of the major proposed solutions to the bitcoin block size limit issue.
This news item is good summary of the most talked about proposals. ( see http://bw.gl/zj )
• Solution 1 is the best solution.
• Solution 2 simply kicks the can down the road.
• Solution 3 involves being a fortune teller. But nobody can predict accurately enough.
• Solution 4 makes sense. Especially to readjust the block-size limit on the basis of the size of recent blocks over the past month…. or over the past week.
• Solution 5 could work, but only if the miners vote — only. Because a vote of users or shareholders would have no authoritative power anyway. Miners have ultimate veto power. May as well let them vote and be done with it. Imagine users ( who are uneducated ) vote one way, and miners disagree. Miners simply will not use that software. Big mess.
• Solution 6 sounds insane, ridiculous, scary, dangerous, and unnecessary.
What do you think?
Let me know at http://bw.gl