Chinese Mining Pools Propose Alternative 8 MB Block Size
Five of China's biggest mining pools — AntPool, F2Pool, BTCChina, BW Mining, and Huobi — have mutually agreed to a raise of the block size limit to 8 MB. In a statement sent to CoinTelegraph and posted today on the Bitcoin subreddit, they collectively rejected Bitcoin core developer Gavin Andresen's proposal to raise the limit from 1 MB to 20 MB, and instead presented a compromise. The mining pools came to the agreement at the National Conference Center in Beijing last Thursday. As they jointly account for some 55% to 60% of all hashing power on the Bitcoin network, it may now be....
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It is important to note these details are not officially confirmed by any of the Chinese mining pools right now. For those people who assumed the Bitcoin block size debate was settled once and for all, bust open the popcorn yet again. Chinese mining pools are colluding to hard fork and support 2MB blocks. In doing so, they would go against everything Bitcoin Core has been working on so far, and use Bitcoin Classic instead. The Bitcoin block size debacle has been a source of great controversy for nearly a year now. Many experts feel the Bitcoin block size needs to be increased, yet there....
The dabbling about the Bitcoin block size debate has gone on for far too long, and the Chinese mining pool operators seem to agree with that sentiment. As more time progresses without a clear decision and plan for the future of Bitcoin, the popular digital currency is looking some of its legitimacy that took years to build up. As if the Bitcoin community was not sick and tired of the ongoing block size debate just yet, it looks like the Chinese miners have come to a consensus of their own. The plan is to reject any forking of Bitcoin that does not gain 90% consensus or more while still....
There's no denying the Bitcoin block size will need to be increased, as even the Chinese mining pools are in agreement with that statement. Whether this will happen through a hard fork or soft fork, remains to be seen, though.The ongoing Bitcoin block size debate is causing a fair bit of controversy and concern within and outside of the Bitcoin community. Even though everybody wants to see an overwhelming consensus support for either Bitcoin Core or Bitcoin Classic, a lot of the “voting power” lies with the Chinese mining pools. Whereas a few people misinterpreted support for Bitcoin....
The block-size limit debate has taken a turn now that some of Bitcoin's biggest mining pools are publicly endorsing BIP 100 (Bitcoin Improvement Proposal 100) instead of backing a Bitcoin XT blockchain fork. So far, F2Pool, BTCChina, BitFury, KnCMiner, 21 Inc. and several smaller pools have come out in support of this alternative proposal. Combined, this represents well over half of all hashing power on the Bitcoin network. While these endorsements are just a show of support, and do not trigger a change of the block-size limit or a blockchain hard fork as Bitcoin XT is programmed to do,....
The Bitcoin block size debate has taken another interesting plot twist in the past few hours. F2Pool, one of the largest Chinese Bitcoin mining pools in the world, has announced they support the hard fork for an increased 2MB block size. While the post on BitcoinTalk is a weird translation from Chinese to English, it looks like F2Pool might be attempting to push people to accept the Bitcoin hard fork. Not a great move in the Bitcoin mining industry if this were to be the case. F2Pool Statement is Quite Worrying To Say The Last. Certain aspects of a statement can tend to get lost in....