As long as charlatans insist on treating block size as a political football instead of a technical security setting, Bitcoin is in danger.
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Replying to @bendavenport @VitalikButerin
Indeed the theory is so bad in this area that we need very large engineering margins for safety.
2 replies 4 retweets 61 likes -
Replying to @NickSzabo4 @bendavenport
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"
2 replies 6 retweets 35 likes -
Replying to @VitalikButerin @bendavenport
No. Clogging up is not a matter of safety (security): it's mainly just a matter of fees.
4 replies 4 retweets 45 likes -
Replying to @NickSzabo4 @bendavenport
When fees rise enough to make physical hologram millibitcoins unspendable, that's de-facto loss of funds. That *is* a security failure.
12 replies 40 retweets 180 likes -
Replying to @VitalikButerin @bendavenport
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).
7 replies 16 retweets 95 likes -
I was struck down on the bitcointalk forum when I suggested that Bitcoin will never be viable for small transactions.
2 replies 0 retweets 3 likes
Sadly, charlatans will always be with us, pumping crypto by whipping up mobs to promote uses that blockchains can't scalably support.
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