26 Jan '16, 2pm

The esoteric debate that's tearing the Bitcoin world apart, explained

When you make a payment using Bitcoin, the recipient is supposed to get the money in less than an hour. But last summer, a few users started noticing that payments were taking a lot longer — 12 hours in one case, 14 hours in another. The problem was that the Bitcoin network was getting too crowded to accommodate everyone who wanted to use it. In recent months, most payments are still going through without delays. But as Bitcoin continues to get more popular, congestion and slow payments are going to become a bigger and bigger problem. The Bitcoin community has split into two opposing — and increasingly hostile — camps over what to do about it. On one side are pragmatists focused on making Bitcoin fast, efficient, and user-friendly so that it can reach mainstream consumers quickly. Opposing them are purists who worry that rapid growth will permanently change the Bitcoin net...

Full article: http://www.vox.com/2016/1/26/10829488/bitcion-block-size-...

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