Crowdfunding Miners: The Speed Lane to Bitcoin Classic Activation?
An interesting proposal has surfaced on Reddit, detailing how Bitcoin should be used as it was originally designed and envisioned by Satoshi Nakamoto. That in itself is nothing new, but the idea of crowdfunding Bitcoin Classic miners for every block they mine on the network is something else entirely. If this concept came to fruition, there would be a....
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Various proposals are floating around on the Internet to raise more support for Bitcoin Classic in these days of block size debates and transaction backlogs. Some people proposed the idea of setting up a crowdfunding effort for those miners who generate Bitcoin Classic blocks on the network. This new idea would see one exchange owner implement a voluntary fee – on top of normal fees – to support the mining of Bitcoin Classic blocks. An interesting concept for sure, but will the community accept it?
Just because mining pools give individual miners the ability to choose Bitcoin Core and Bitcoin classic, does not mean they will be switching over in droves all of a sudden. That statement is only reinforced by the F2Pool mining statistics, as only a small portion of miners have diverted their hashpower to Bitcoin Classic. This begs the question as to whether Bitcoin miners care enough about the difference between both solutions to risk their steady earnings or not. Bitcoin Miners Are Not Too Bothered. Reaching a consensus on whether or not to implement the Bitcoin Classic block size....
Bitcoin miners have started to signal for Taproot activation and crypto supporters are looking forward to the largest bitcoin update in almost four years. The mining operation Slush Pool mined the first block signaling for Taproot and since then the pools Foundry and F2pool have joined in on signaling as well. Bitcoin Block: 681,458 Signals for Taproot It’s been a long time since the Bitcoin network has seen a major upgrade and the last time it happened was in 2017, back when BTC participants activated Segregated Witness (Segwit). Since then, bitcoiners have been discussing the next....
The Ethereum block producers accumulated $6.1 billion worth of ETH tokens after the Aug. 5 network upgrade. An on-chain study released by Kraken Intelligence highlighted strong accumulation behavior among Ethereum miners even as they faced the prospects of generating lower revenue following a major network upgrade on Aug. 5, 2021.Ethereum miners accumulated an additional 2 million Ether (ETH) worth $6.1 billion after the so-called London Hard Fork's activation. The latest bout of accumulation caused miners' net Ether holdings to hit an all-time high of 22.3 million ETH (worth nearly $70....
In a recent interview with Let’s Talk Bitcoin, Bitcoin Foundation Chief Scientist Gavin Andresen explained his issues with Bitcoin Core and why he has decided to help the Bitcoin Classic project. Bitcoin Classic is an implementation of an alternative Bitcoin protocol that would cause a hard fork with a 75 percent activation threshold in order to increase the block size limit from 1 megabyte to 2 megabytes. During the interview, Andresen said Bitcoin Core developers are not listening to miners and the entities that are creating many of the transactions on the Bitcoin network. He also....