Date: Thu, 17 Dec 2015 11:44:08 -0800
From: Peter Todd <pete@petertodd.org>
To: Tier Nolan <tier.nolan@gmail.com>
Message-ID: <20151217194407.GB1351@muck>
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Cc: Bitcoin development mailing list <bitcoin-dev@lists.linuxfoundation.org>
Subject: Re: [bitcoin-dev] Block size: It's economics & user preparation &
 moral hazard
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On Thu, Dec 17, 2015 at 04:58:02PM +0000, Tier Nolan via bitcoin-dev wrote:
> This is really the most important question.
>=20
> Bitcoin is kind of like a republic where there is separation of powers
> between various groups.
>=20
> The power blocs in the process include
>=20
> - Core Devs
> - Miners
> - Exchanges
> - Merchants
> - Customers
>=20
> Complete agreement is not required for a change.  If merchants and their
> customers were to switch to different software, then there is little any =
of
> the other groups could do.

If Bitcoin remains decentralized, miners have veto power over any
blocksize increases. You can always soft-fork in a blocksize reduction
in a decentralized blockchain that actually works.

--=20
'peter'[:-1]@petertodd.org
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