Antonopoulos Hard On Block Size Increases: Bitcoin Becomes A Centralized System

10/21/2017 - 21:00 UTC
Antonopoulos Hard On Block Size Increases: We Go To A More and More Centralized System

Andreas M. Antonopoulos is a technologist and serial entrepreneur who has become one of the most well-known and well-respected figures in the bitcoin community.

In this talk, which took place at the 'Bitcoins in Bali' meetup on June 27th, 2017 in Indonesia, Andreas outlines the future micropayment ecosystem, how the fee market works, and why the simple/obvious solution to scaling is not always the right one.

"With each one of these [block size] increases, fewer people can participate in the validation... Fewer people can participate in being independent actors. We go from a system that is decentralised, to a system that is more and more centralised", he notes.

He also reflects on what to learn from the mistakes of internet engineering, and how we will overcome these challenges in Bitcoin to serve the under-served with privacy, security, autonomy, and liberty.

NOTE: This talk was filmed before SegWit activation which happened in August 2017.

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice on Bitcoin, Cryptocurrencies or finance in general.