On Fri, Jul 14, 2017, at 01:09, Lucas Clemente Vella wrote: > But how can we be prevent the network from operate near the limit if there is > organic and legitimate demand for more transactions to be approved? If there > is demand, miners will inflate the block as much as they can, either to > collect transaction fees, or to preserve Bitcoin economic value as a cheap > transaction medium (which drives price up, as it is more useful to a wider > range of people). This is primarily prevented by the fact that there are few things with less elastic demand then financial transactions. Minimum fees serve miners and the network to eliminate use cases that are inefficient for miners to include and are better served off chain, such as pay-per-second micropayments or dime betting. This is why they were common amongst miners long before blocks were full. For ordinary payments, there is no elasticity in demand whatsoever as people don't *want* to make financial transactions; they *have to*. Bank and cash transfers are free yet limited to a handful a day per person. Bitcoin's growth occurs natural and slowly as more people start using bitcoin for payments; not because people trying to do more payments just because they are too cheap. There has never been any indication of bitcoin's growth surpassing technological improvement or leading to "centralization". Sure there is lots of reasons to worry about mining centralization but this is not solved and more likely worsened by limiting bitcoin's growth and the blocksize. Regards, Tomas Bitcrust
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