davidsterry.com / By David Sterry / June 10, 2015
Ever since Gavin Andresen’s first post about increasing the block size a month ago, a debate has been raging across all Bitcoin discussion forums on whether or not to increase Bitcoin’s block size limit. Actually the debate has been going on for longer than that but the rate and temperature of discussion have been greatly increased since Gavin began to highlight the issue.
There are as many opinions as there are participants in this debate and the sheer volume of discussion is so high that few have time to follow it all. My feeling is that most people with strong technical knowledge of the system have chosen a way forward and would rather argue for that way than summarize the arguments presented by each side. I put together the following to help myself and others make up our own minds.
Before we get to the arguments, here is some technical background on the block reward, fees, miner considerations and the block size limit itself. If you understand them already, feel free to skip to the For andAgainst sections.
Block Rewards and Fees – Bitcoin miners are currently awarded 25 new bitcoins per block, an