30 Jun '16, 12pm

Chinese Miners Announce 'Terminator' Plan to Hard Fork to 2MB Blocks via /r/Bitcoin

You can't refer to all of China as "you guys", it's not polite. In all seriousness, though, there's been a debate raging on for quite some time in the Bitcoin community. It's about the size of the blocks. In the beginning, there was no block size limit. Each block could include as many transactions as necessary. Some people started flooding the network with spam transactions, overloading what few and paltry miners were participating at the time. The code was changed to implement a 1MB hard limit on block size. The problem is that 1MB blocks can only hold so many transactions, and in the past nine months or so, those 1MB blocks have been getting pretty full. There have been various proposals to increase the carrying capacity of the Bitcoin network. The simplest and most straightforward is simply to raise the cap. The argument in favor of that is essentially that miners' har...

Full article: https://www.reddit.com/r/Bitcoin/comments/4qleza/chinese_...

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