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Can blocks remain capped to 1MB forever?

Started by Bitcoin, Mar 18, 2022, 03:44 pm

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Bitcoin

Can blocks remain capped to 1MB forever?

This is perhaps more of an economics question than a bitcoin question, but I'm wondering if it would be viable to leave the block size capped at 1MB for all time and simply let a series of rules govern which transactions get included into a mined block, e.g.:



  • paying a higher fee gives higher priority

  • older coins get higher priority

  • bigger spend gets higher priority

  • etc


This would incentivize people to rely more on off-chain transactions (e.g. gyft cards), or sidechains, to accumulate many payments into a single transaction, and perhaps to delay transactions if they do not wish to pay high fees. And one benefit would be that the blockchain would not grow beyond a size which would fit on a single user's hard disk. This would keep bitcoin decentralized without any need for a hardfork.


Are there any fatal flaws to this notion?


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