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10 sats \ 1 reply \ @l0k18 1 Jun 2023 \ on: A discussion on block size bitcoin
There's some calculations of that in the Lightning white paper which gives an estimate of about 138mb to manage channels for every person on the planet.
I have recently discovered it is very easy to extend the storage of a BTRFS filesystem and turn it into any kind of RAID array. With two you can do JBOD or RAID0 for more space or RAID1 for failure tolerance, or 3 and also maybe Raid5, 4 to get RAID10.
I think we are coming to a time where the cost of storage and extending storage drop quite dramatically and if it's cheap enaugh to put a full node on literally every router then I guess we can increase the block size :D
I know that throughput-wise transaction handling is at least 2000/s on the slowest implementation, BTCD - bitcoin core is a lot faster. So, I don't think there is any problem looming. When the block size is needed to grow we are in a position to grow it without a lot of loss of decentralisation. I think at least doubling can happen within the next 10 years. Very likely will.
Yes, I agree over time the technical requirement for running a Bitcoin node have gotten so much cheaper. Nowadays I see you can get a 2TB ssd on Ebay for just $50, pretty crazy!
I still believe that block size should be kept as small as possible and that it is important that the blocks of the future are full in order to provide a sufficient security budget to miners.
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