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The recent Bitcoin network issues are a significant threat to the viability and prospects of the Bitcoin ecosystem. In fact, various people are claiming they are leaving Bitcoin and invest their money elsewhere, in some of the more promising blockchain-based projects, such as Ethereum, Maidsafe, and others. But is there a real Bitcoin exodus happening, or is this just a phase community members have to go through before things can take off?
The Bitcoin Exodus Is Slightly Overstated – For Now
One thing’s for sure, though: plenty of people are fed up with the current block size debate and the network issues that have been taking place as of late. While delayed transactions were sorted out eventually after slightly over a full day, the situation pointed out how the Bitcoin network is not ready to handle a significant increase in transactions as of yet.
At the same time, there is a bit of confusion going on in the Bitcoin community as to why the increase to 2MB network blocks is taking so long. Both Bitcoin Core and Bitcoin Classic developer teams seem to agree on this growth, yet it will take at last a few more weeks until it is integrated into the main fork of Bitcoin development. This indecisiveness could lead to a Bitcoin exodus at some point, though.
The Bitcoin Exodus Is Slightly Overstated – For Now
One thing’s for sure, though: plenty of people are fed up with the current block size debate and the network issues that have been taking place as of late. While delayed transactions were sorted out eventually after slightly over a full day, the situation pointed out how the Bitcoin network is not ready to handle a significant increase in transactions as of yet.
At the same time, there is a bit of confusion going on in the Bitcoin community as to why the increase to 2MB network blocks is taking so long. Both Bitcoin Core and Bitcoin Classic developer teams seem to agree on this growth, yet it will take at last a few more weeks until it is integrated into the main fork of Bitcoin development. This indecisiveness could lead to a Bitcoin exodus at some point, though.