Quote
Anywhere you look, there seems to be a consensus that something has to change with the size of the Bitcoin blocks. Words like “scaling” come up a lot, and how we must be able to compete with Visa and MasterCard if everyday people are ever going to take Bitcoin seriously.
While this may be true, there are extremists on both sides of the issue. There are some who advocate lowering the block size to 400kb, and there are others who believe a fork will be necessary in spite of those opposed. This could be an astronomically bad situation for Bitcoin. If the majority of miners don’t go along with the fork direction, ostensibly Bitcoin-XT, then the new network won’t be near as secure and likely won’t be as fast as the nodes and miners left on the other side of the fork.
In any team situation, there are going to be people you don’t like working with. That doesn’t mean you leave and start a new project, solely for that reason. Rather, you find a reasonable solution to the problem at hand, one that the element you don’t agree with will eventually accept. As John Light said in my recent CCN podcast, there isn’t really a discussion on whether or not the block size needs to be increased. The question is really how and when.
While this may be true, there are extremists on both sides of the issue. There are some who advocate lowering the block size to 400kb, and there are others who believe a fork will be necessary in spite of those opposed. This could be an astronomically bad situation for Bitcoin. If the majority of miners don’t go along with the fork direction, ostensibly Bitcoin-XT, then the new network won’t be near as secure and likely won’t be as fast as the nodes and miners left on the other side of the fork.
In any team situation, there are going to be people you don’t like working with. That doesn’t mean you leave and start a new project, solely for that reason. Rather, you find a reasonable solution to the problem at hand, one that the element you don’t agree with will eventually accept. As John Light said in my recent CCN podcast, there isn’t really a discussion on whether or not the block size needs to be increased. The question is really how and when.
Full story: https://www.cryptocoinsnews.com/bitcoin-fork-avoided-costs/