BTCC COO Samson Mow: Without Consensus on Block-size Limit, Stakeholders Might Implement an Increase
BTCC Chief Operating Officer Samson Mow indicated that the leading Chinese mining pool and exchange supports an incremental increase of Bitcoin's block-size limit to 8 megabytes in order to buy time for alternative solutions to be developed. Moreover, Mow believes the Bitcoin industry might opt to raise Bitcoin's block-size limit even if no consensus is....
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Samson Mow is the Chief Operating Officer of Chinese Bitcoin exchange, wallet service and mining pool BTCC. A successful executive in the video game industry, Mow joined the Bitcoin company run by his friend and CEO Bobby Lee as an adviser last year, and has gotten further involved with the company ever since. Mow has actively engaged himself in the block size dispute over the past months. He played a key role in realizing both the Bitcoin Roundtable letter, as well as the Hong Kong Roundtable Consensus. But his real claim to fame in the Bitcoin space might actually have been a series of....
Bitcoin payment processor Bitnet has indicated it is willing to implement block-increase proposals other than BIP (Bitcoin Improvement Proposal) 101. This makes Bitnet the third signatory of the industry letter supporting BIP 101 that indicates that it is open to alternative proposals. Bitnet co-founder and CTO Stephen McNamara told Bitcoin Magazine that he is still convinced that the block-size limit must be increased sooner rather than later. While the industry letter sent out in August of this year expressed support for BIP 101, which increases the block-size limit to 8 megabytes and....
Bitcoin Classic is the latest attempt to increase Bitcoin’s block size limit via a hard fork initiated by miners running an alternative to Bitcoin Core, but it appears that the relatively new software client may already be on its last legs. According to various sources familiar with a meeting in Beijing on March 30, supporters of an increase to the Bitcoin block size limit were unable to convince the Chinese mining community to implement BIP (Bitcoin Improvement Proposal) 109 without support from Bitcoin Core contributors. It was the intention of some participants to convince the Chinese....
Bitcoin Core developer Jeff Garzik has submitted a proposal to raise the block size limit from 1MB to 2MB. The proposal is intended to buy more time to reach a consensus on a more durable solution before the maximum amount of transactions on the Bitcoin network is reached. As the debate on a possible raise of the block size limit has been raging for months – years even – without consensus on a durable solution within sight, Garzik has proposed to adapt a temporary solution. This new Bitcoin Improvement Proposal (BIP), named BIP 102, holds that the Bitcoin block size limit be doubled on....
Three of the biggest Western mining pools – representing a total of some 19% of hashing power on the Bitcoin network – stand divided on raising the block size limit. An inquiry by CoinTelegraph has shown that both KnCMiner and Slush Pool are in favor of Gavin Andresen's proposal(s) to raise this limit. But the biggest of the three, BitFury, is more conservative. As such, a network-wide switch to Bitcoin XT to allow for bigger blocks seems even more unlikely, for now. Lacking consensus among Core developers on how and when to raise the block size limit, former lead developer Gavin Andresen....