The Bigger, the Better: 64% of Bitcoin Users Vote For Block Size Increase

By September 2, 2016Bitcoin Business

Over the past few weeks, community-driven Bitcoin statistics and services provider Coin Dance conducted a survey to analyze the stance of the Bitcoin community on the Bitcoin block size debate. Approximately 64% of Bitcoin users that participated in the survey voted for the increase of the block size limit. Scaling the Bitcoin network Since the Bitcoin Roundtable Consensus in Hong Kong held in February 2016, a lot of Bitcoin users, miners, companies, and investors have demanded for the increase of the Bitcoin block size. Miners and companies that participated in the Hong Kong conference opted to increase the Bitcoin block size by 2MB by the end of July. This agreement was verified and accepted by Bitcoin Core developers, who failed to deliver the hard fork by the agreed time period. However, as the Bitcoin Core development team began to integrate various innovative scaling solutions like segregated witness, the community seemed to develop more trust in the practical works of the developers, acknowledging their commitment in scaling the Bitcoin network. Over time, more start ups and miners expressed their support towards the Bitcoin Core development team, complicating the stance of the Bitcoin community in the block size debate. Learning the opinion of the Bitcoin community To evaluate where the majority of the Bitcoin community members and users stand in the argument, Coin Dance released their conclusive data on the survey they had conducted. The official results showed that about 64.28% of the Bitcoin community are in support of the increase in Bitcoin block size. 47.64% of the voters were from /r/btc (pro- hard fork) and 49.79% of the voters came from /r/bitcoin (pro-Bitcoin Core). While a lot of users complained that the basis of the survey is unidentified and it can’t be used as an actual confirmation to decide where […]

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