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No, it is a space increase! Witness data is counted with a discount. Blocks can be larger than 1MB under SegWit.


Perhaps this is semantic?


It's not semantic, it is substantive. A maximally utilized SegWit block is larger than a maximally utilized current block.

I.e., if you were planning out how much disk space you needed years in advance, you would have to increase that figure non-negligibly if SegWit activates.




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