As long as charlatans insist on treating block size as a political football instead of a technical security setting, Bitcoin is in danger.
Indeed the theory is so bad in this area that we need very large engineering margins for safety.
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Agree! Though this can be interpreted multiple ways, eg "we need the block size to be big with large safety margins so blocks don't clog up"
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No. Clogging up is not a matter of safety (security): it's mainly just a matter of fees.
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When fees rise enough to make physical hologram millibitcoins unspendable, that's de-facto loss of funds. That *is* a security failure.
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It's an extremely limited failure based on people using a blockchain in a way it could not sustainably be used (i.e. for micropayments).
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And it's not in the slightest a systemic security failure. It's completely localized to txs that used crypto in a very unscalable way.
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The other faction would say, it's running a node on consumer hardware that's "using crypto in a very unscalable way"
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You could say "ah, but reducing node count is a centralization risk"
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But so is reducing onchain user count. It encourages users to use possibly centralized L2 platforms which may become regulatory choke points
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That the problem with engineers like
@VitalikButerin they believe they are smarter than life itselfThanks. Twitter will use this to make your timeline better. UndoUndo
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