 It's a short question. What is your opinion on a block size debate? Short question indeed, you know surprisingly enough. I've never been asked that this evening I actually did a talk specifically on scaling and why scaling is not something you solve It's something that you continuously aspire to and push back as a frontier of scaling scaling is the thing you can't yet do today and How you keep pushing that frontier back by failing to scale and then scaling a bit better Which creates opportunities for new applications scaling is not something we're going to solve Scaling is something that we will improve continuously hopefully over decades Until we can do more and more and more interesting things But the thing about the debate today is that there's a lot of noise and a lot of drama and And and part of that is because we're used to financial systems in which there is zero noise or drama, right? So the way traditional financial systems work is that a committee of 12 white men get together They smoke a couple of cigars and they say well, how can we best help our shareholders? Like I don't know should we drop interests again? Well, we've already dropped them a hundred times and the economy is still dead Yeah, but I think a hundred and one times might do the trick Okay, let's drop them again See what happens. I mean, I'm gonna be in the Bahamas next week. It's okay. I don't give a shit It's like, okay, John. Are you gonna do the announcement? Sure. I'll go through the announcements After zero deliberation and with absolutely no disagreement. We are now dropping interest rates That's great. It's like oh at least they're not fighting because that would be bad And democracy is loud and noisy and dirty and weird if Someone in Bitcoin could say It's been a year. You've had your thing. You talked about the block size limit But it's now time to make a decision. So here's what we're going to do And that's the one thing you can't do in Bitcoin because there is no One in control so the fact that we can't simply Dictate our decision to everybody else the fact that consensus is a everyone together or not at all Proposition is not a bug. It's a feature. It's probably the most important feature in Bitcoin Ironically people don't realize that now that we've reached a point where the distance in opinion is very very small so a year ago or like 20 megabyte block size limit with exponential increase until forever and No hard fork Right and now we're like well, how about we do to make now plus Segregated witness later and the other side is how about we do segregated witness now on a two meg hard fork later Right, that's really really close if you haven't noticed one of the interesting things that happened is classic just reached more than 6% Segregated witness activation on Bip9 requires a 95% consensus So now core has veto over the hard fork and classic has veto over segregated witness interesting times ahead Because when you have two parties and they hold veto on each other's most prized possession compromise is just around the corner It is an illusion that one party controls Bitcoin because you might appear to have a lot of power in Bitcoin If you continue to do the things that the consensus wants you to do and when you stop serving that consensus your power evaporates So That's what I think about the scaling debate, which is I'm not pro classic I'm not pro core. I'm pro consensus and consensus is coming within the next year and a half We're going to do segregated witness and a hard fork to two meg and sin blocks and Invertible bloom lookup tables and a number of other optimizations, and then we will hit a scaling wall again And the debate will continue