It is another day in the world of bitcoin, and things are evolving once again for Bitcoin Unlimited. To be more specific, a new mining pool has enabled BU signaling, even though it remains to be seen what their ultimate goal is. BitClub is now actively signaling Bitcoin unlimited, even though some people feel the pool will remain loyal to Bitcoin Core in the long run.
BitClub Shakes Things Up Again
It is interesting to see the BitClub mining pool start signaling for Bitcoin Unlimited activation. Up until this point, BitClub has always been a pro – Bitcoin Core, and few people expect that to change anytime soon. At the same time, they are signaling BU activation support, which only brings Unlimited closer to its activation threshold. It is an intriguing turn of events, although no one knows for sure how this will play out over the coming weeks.
Mining pools find themselves in a bit of an awkward position these days. With mounting network transaction fees and congestion picking up on a regular basis, some pool owners acknowledge something must change. However, there is also a lot of talk of how Core supporters feel BU should just activate on the network and become an altcoin of its own so it will no longer hinder Segregated Witness activation progress.
Whether or not this is what BitClub is trying to achieve, remains to be seen. Their decision to signal BU activation is greeted with a lot of skepticism, although it is a somewhat understandable decision. Bitcoin Unlimited requires at least 51% network support to activate. Once it does activate, however, it seems more than likely exchanges will label this fork as an altcoin. That would effectively end the debate between BU and SegWit once and for all since Core will be the only real bitcoin in existence by then.
On the other hand, a lot of BU supporters see this as a further validation of how their scaling solution is the only one that should matter. Rest assured the activation of Unlimited on the network will shake things up quite a bit, even though that will not necessarily benefit anyone supporting the BU right now. With BitClub’s 2.9% network hashrate, Unlimited gets one step closer to achieving its goal and become less of a threat to the bitcoin ecosystem.
JP is a freelance copywriter and SEO writer who is passionate about various topics. The majority of his work focuses on Bitcoin, blockchain, and financial technology. He is contributing to major news sites all over the world, including NewsBTC, The Merkle, Samsung Insights, and TransferGo.