Coinbase CEO Armstrong: I'd Like to Increase the Block Size in December
The Bitcoin debate of the year has been about how the blockchain block size matters. Whether to increase block size, how to do it, and when to do it, everyone seems to have an opinion. Now, Coinbase CEO Brian Armstrong, who has been mostly silent on the issue, has weighed in with a personal desire for growth, seemingly aligning with other Bitcoin corporate leadership. BIP 100, crafted by noted developer Jeff Garzikc is the current favorite amongst miners and the voting majority when it comes to block size upgrades. With BIP100 the power to set the block size limit is transferred from the....
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Brian Armstrong, CEO of record-funded Bitcoin wallet service and exchange Coinbase, plans a code update to allow for bigger blocks in the second week of December, and has indicated he prefers BIP (Bitcoin Improvement Proposal) 101. This makes Coinbase the latest Bitcoin industry heavyweight to endorse the proposal as adopted by alternative Bitcoin implementation Bitcoin XT, although the company is still open to other solutions. Armstrong recently sent out a series of tweets in support of a block-size increase, in which he stated the intention to upgrade his company's code by December. It....
Coinbase CEO Brian Armstrong feels pretty confident about the outcome of a block size hard fork. In fact, he’s willing to bet $5,000 that “Bitcoin’s first hard fork works out just fine.” In a Medium post by the Coinbase founder, Armstrong declares that the code will not be a split and is merely upgrading. Brian Armstrong has been very vocal about the....
Coinbase CEO, Brian Armstrong, Announced that Coinbase will be Switching to Bitcoin Classic as it’s primary node implementation today, urging Coinbase users to switch as well to increase adoption — a move that is generating controversy on social media and within the bitcoin community. Regardless of mixed opinions on the matter, Coinbase’s Transition means overall increased adoption of Bitcoin Classic at a crucial time in the block size debate. Armstrong’s Announcement Topic of Contention. In the discussion on Twitter that followed the announcement, Armstrong also stated that Coinbase will....
BitPay, one of the top funded companies and most-used payment processor in the Bitcoin industry, is open to alternative block-size proposals - not just BIP (Bitcoin Improvement Proposal) 101. Speaking to Bitcoin Magazine, CEO Stephen Pair reaffirmed that BitPay will adopt code to increase Bitcoin's block-size limit by December of this year, but said this no longer needs to be the proposal as implemented in alternative Bitcoin implementation Bitcoin XT. BIP 101 is programmed to increase the block-size limit to 8 megabytes, then doubling every other year for the next 20 years. This proposal....
Editor’s Note: This article has been modified to correct a misquote. This article originally quoted Brian Armstrong as saying that the Core team was a “Systematic” threat to Bitcoin, when he actually said Core was a “Systemic” threat. Coinbase CEO and co-founder Brian Armstrong recently published a Medium blog post titled, “What Happened At The Satoshi Roundtable.” In this post, Armstrong calls for an immediate block size increase to 2 MB, the creation of a new Bitcoin development team, and called the Core team a “systemic threat” to Bitcoin.