Chandler Guo to Bitcoin Community: Avoid a War Over Block Size
Going into a war over a block size increase would cause a crash in the price of Bitcoin, according to angel investor in Bitcoin and Ethereum startups, Chandler Guo. In an interview with ether.camp, he noted that, overall, the block size argument has been positive for the value of Bitcoin. Guo also believes that too much control will lead to no control and likened the situation to Hillary Clinton’s loss in the recent U.S. presidential elections. According to Gao, president-elect Donald Trump won exactly because he does everything by himself and is not controlled by anyone, unlike most other....
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Bitcoin Core contributor and Ciphrex CEO Eric Lombrozo was recently interviewed on Epicenter Bitcoin, and he used a portion of his time to explain some misconceptions and misunderstandings related to the block size limit debate. While the focus of this development controversy has mainly centered on the actual block size metric in the Bitcoin protocol, Lombrozo says this misses the main point of disagreement. In his view, a hard fork is what the Bitcoin Core development community would like to avoid over the short term. When explaining the full picture of the block size debate, Lombrozo....
There seems to be no end in sight for the block size debate as the Bitcoin community continues to go around in circles trying to drive the same set of points home... The Bitcoin block size debate rages on. It has been almost a year since we started hearing the Bitcoin community fiercely contesting about whether to increase the bitcoin block size from the existing 1 MB or not. Both the sides have so far come up with some valid arguments, of which few are very convincing towards both the causes. Recently the “Jesus of Bitcoin”, Roger Ver wrote an article about why the Bitcoin block size....
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....
To what extent does block size increase improve bitcoin scalability? Will the blockchain ever be able to match VISA's transaction processing rate? Bitcoin was first introduced in the year 2009. Since then the digital currency’s network has been growing non-stop. Over the past few years, bitcoin network has grown over multiple times but not much changes have happened on the technical side since its inception. The bitcoin block size has remained at 1 MB since the beginning and in order to ensure the survival of bitcoin, it is very important to increase the block size. The bitcoin community....
Over the past few weeks, support for the Bitcoin Unlimited (BU) proposal has increased significantly. This is due to a bunch of smaller mining pools collectively running the alternative client that removes the current block size cap. Now its seems the proposal will get even more hash power as the Chinese miner, Chandler Guo, has announced that his new....