billyjoeallen



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Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion December 30, 2015, 12:35:48 AM #287961 Arguing that there is no valid reason to raise the block size limit now doesn't address the issue. The issue is that there is no condition known that will cause Core to raise the limit and no known process by which they would do so. So IF for example, every single block was full for a week and fees go up 100X what they are now, we still don't know how long it would take for the problem to be fixed or even if Core would consider that a problem worth fixing.



We don't even know if there is to be a permanent schedule of increases or a permanent sitting committee to determine such things so we can go through this whole damn thing again in a year or two.



What is the fair price for a transaction fee in the absence of a free market? There is no such thing, only the arbitrary judgement of fallible human controllers.



The philosophical issue boils down to Rule of Law vs. Rule of Man. Is economic policy in the hands of impartial code or in the hands of corruptible, biased humans?



Do we really need another monetary system held hostage to central planners? We need a hard-coded solution, not a goddamned committee. The blocksize limit doesn't just create a market for transaction fees. It creates a market for influence over the people controlling the cap.







