Part 17/19:
Proposals like increasing block size to 8MB or more are motivated by the need to handle billions of daily transactions, aligning Bitcoin more closely with traditional systems like Visa. The speaker argues that higher bandwidth and improved hardware, guided by Moore's Law, could support this scaling over the next decades, transforming Bitcoin into a global transactional platform.
The Evolution of Consensus and Protocol Hardening
Finally, the presentation underscores that consensus rules are embedded in software—primarily the reference implementation—and evolve through community debate, testing, and gradual adoption. Upgrades require widespread agreement across various stakeholders: developers, miners, exchanges, wallets, and merchants, each with their own incentives and constraints.