Please Raise the Block Size: Bitcoin Mining Community Poll
The biggest topic in Bitcoin over the last month has been what to do with the size of blocks within the block chain. Mike Hearn and Gavin Andresen have been vocal and influential proponents of a size from 1 MB o 20 MB blocks to ease the growth of Bitcoin as a global currency. At this current 1 MB rate, they say the network will enter a logjam situation within the next year, and this is the preventative maintenance needed that would help the situation both in the short-term and the long-term. I spoke to Marco Streng, CEO of Genesis Mining and asked what their company's view is of the block....
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This week, bitcoin Jesus Roger Ver weighed in on the block size debate stating that the block size limit should be increased if it is technologically achievable. Specifically, Ver tweeted: The block size debate has been underway for some time now and a lot of developers including Bitcoin Core Developers and the Bitcoin community are getting exasperated with the current impasse. In addition, many developers are now spending a lot of time and money seeking alternative solutions. If every 1MB block were always full, it would take over 55 years to fill my new HD. Let's raise the 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....
Fresh out of jail on bail for embezzlement, disgraced Mt. Gox CEO Mark Karpeles poked fun at the Bitcoin community’s for their lack of resolution in the block size limit issue. Karpeles, in a tweet sent shortly after his release from jail, expressed his detachment from and disdain for the current state of Bitcoin, including a jab at the persisting one-megabyte block size limit debate: Block size limit still an issue, though drama has died down. The issue of whether or not to raise Bitcoin’s block size limit is a contentious one, responsible for a “splinter subreddit,” /r/btc, to emerge....
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....
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 found among the Bitcoin Core development community. "If there is no consensus soon, I could see a situation where stakeholders make a decision to implement a small increase," Mow said. "Without bigger blocks, a fee market will develop,....