ViaBTC Sparks Bitcoin Scaling Debate in Reddit AMA
The head of a bitcoin mining pool that has emerged as a strong advocate for a bigger block size argued in a Reddit Q&A today that many in China's mining community support such a move. ViaBTC founder Haipo Yang took questions during an Ask Me Anything (AMA) session on the r/btc subreddit, commenting on the block size debate. The event saw strong advocacy for Bitcoin Unlimited, a bitcoin software implementation that has been proposed as an alternative to Bitcoin Core, the primary user client for the bitcoin network. ViaBTC was launched in June of this year (and quickly emerged as....
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Chinese mining pool, ViaBTC, has made the decision to test Bitcoin Unlimited. This is a significant move on the part of the pool’s managers, as it could have implications for the Bitcoin block size debate going forward. ViaBTC: “We Support Big Blocks”. ViaBTC also happens to be the 6th biggest mining pool in the world, making the decision even more....
When asked why they do not increase the 100 tx limit, ViaBTC replied how they need the fee to make this service possible. The ViaBTC Transaction Accelerator has proven to be quite a successful service over the past few months. One downside to this system is how only 100 transactions can be boosted every single hour. In a recent tweet, the company complains about how they are hitting this glass ceiling nearly every hour. It would be better if such a service is not needed in the first place. The only reason why the ViaBTC Transaction Accelerator is popular is due to recurring network....
The never ending bitcoin blocksize debate returns to the forefront as ViaBTC, a new pool with around 10% network hashrate, moves all of its mining operations to Bitcoin Unlimited. In a new public statement, ViaBTC delivered the most scathing criticism yet of the current bitcoin scaling situation. Written by Haipo Yang, CEO of ViaBTC, formerly at Tencent with experience in the development of distributed, highly concurrent network servers, the article argues that, in effect, the 1MB limit will destroy miners: “[W]ithout growing capacity for on-chain transactions the business model of the....
Roger Ver, a self-described bitcoin evangelist who renounced his U.S. citizenship and lives in Japan, was recently banned from Reddit for referring to the bitcoin administrator Theymos by his real name, but soon had his account restored. His actions, and those of Reddit, have raised questions in the bitcoin community about how censorship decisions are made in community forums. Comments on Reddit indicated the banned post was up for 12 hours. Much of the Reddit discussion became mired in the debate between the two bitcoin subreddits, r/btc r/bitcoin, a conflict with roots in the bitcoin....
ViaBTC, which now controls around 15% of the network hashrate in combination with Roger Ver’s Bitcoin Unlimited pool, has called for a hardfork to upgrade bitcoin’s transaction capacity. “Drop the matter of SegWit, let’s hard fork together,” followed by a resounding no to the question of whether there is anything core could do to make ViaBTC support segwit, are just some of the public statements made by the new pool that has suddenly taken the fourth position in network hashrate distribution. I reached out to better understand the seemingly changing alignments in the great debate by asking....