What do we mean, when talking about block size limit issue? I think, we witnessed this discussion shifting from tech level to philosophical one. Right now, maybe we are in front of
the edge of the Bitcoin's udermining, facing this really difficult challenge: to fork or not to fork. But actually, behind this Epic Discussion I didn't find the answer how to solve this
problem. All I've heard is only debates around fixed size of block limit. '20 MB', '8 MB', '2 MB'. The most 'smart' thing I've heard about it is 'to double block size each 2 years'.
Seriously? Is that all that you, ‘Bitcoin Geeks’, can propose? I am already hearing your stringing questions like 'Ok, Mr. Einstein, where is your BIP?” The truth is that there isn’t. I’m
not a developer. I’m just a humble IT project manager and engineer. So, all I can propose is just a concept with hope that somebody will support my idea.
Well, actually It’s not needed to be an Einstein to create a concept of dynamic block size limit. Bitcoin intelligently adjusts such things of itself like difficulty or market price. Why not
to let it adjust itself’s block size limit and make it dynamic?
First concept is to adjust block size limit depending on previous blocks’ fullness. In this case new block size limit will be set as average size of previous, for example, 2016 blocks
+ 10%.
The second concept is to adjust block size to secure average transaction fee at some fair level. In this case, if we want an average fee size to be set at level of, for example, 0,1% of
an average transaction value, then next block size limit must be calculated by the formula:
i - block number,
- average fee in block j
- average transaction volume in block j
Remark: I put an average fee and volume to simplify understanding, but obviously, it can be total fee and total transaction volume in 2016 previous blocks to simplify calculations.
Maybe both approaches are still impefect, but both of them provide quite confident solutions for block-size-limit issue: Bitcoin network is still protected from spam-attacks, miners
are motivated with fair transaction fees, and to guessing proper block size limit is needless - it is adjusted dynamically by algorithm.