The push for bigger blocks within China's mining community was also on display during a recent event hosted by bitcoin mining firm Bitmain. This development has largely continued despite the protests of Bitcoin Core and its supporters, who maintain alternatives would be dangerous if more widely used.
The AMA session came amid the ongoing rollout of Segregated Witness, a change to bitcoin's code aimed at increasing the amount of transactions the network can handle without adjusting the block size. Yet the upgrade has proven to be a controversial one among some bitcoin users, who have argued that an increase in the block size – or a variable size with Unlimited – is the better approach.
"I’ve already clearly stated my view: the protocol is more important than the code," Yang wrote in response. "We've been running Bitcoin Unlimited for more than a month with no problems."
ViaBTC founder Haipo Yang took questions during an Ask Me Anything (AMA) session on the r/btc subreddit, commenting on the block size debate.
Bitcoin UnlimitedBlock SizeMiningReddit
"Most pools in China have lost their trust in Core and shifted their attention to Unlimited. I know a couple of pools said in private that they won't support [Segregated Witness] and will support Unlimited instead. The reason that they haven't shifted to BU is that they are waiting for a better chance and also a possible compromise from Core."
The event saw strong advocacy for Bitcoin Unlimited, a bitcoin software implementation that has been proposed as an alternative to Bitcoin Core, the primary user client for the bitcoin network. ViaBTC was launched in June of this year (and quickly emerged as controversial).
One notable inclusion was Blockstream CEO Adam Back, who wrote that Unlimited "is non-functional" and "little tested", among other critiques.
Elsewhere, Yang framed the current debate as "a battle about Bitcoin’s future path", invoking bitcoin’s pseudonymous creator, Satoshi Nakamoto and arguing that Unlimited's approach is more in line with the initial vision of the digital currency.
The head of a bitcoin mining pool that has emerged as a strong advocate for a bigger block size argued in a Reddit Q&A today that many in China's mining community support such a move.
Image via Shutterstock
While the thread largely drew supporters, critics emerged.
Yang claimed in the session that, as it stands, China’s mining community wants a bigger block size, but isn't unified in its support for Unlimited specifically.
Ethereum Price Weekly Analysis – ETH/USD Breaks Imp Resistance
Ethereum price is gaining momentum against the US Dollar and Bitcoin. ETH/USD broke a key resistance for further gains above $347. This past week was mostly bullish for ETH price as it moved above
Square Cash App Launches Bitcoin Trading Functions
Some users of the Square Cash app were surprised this morning to discover that they could now buy and sell Bitcoin using the platform. For those unfamiliar with it, the app can be used to send
Golix Exchange: Bitcoin Price Double in Zimbabwe
Cryptocurrency seems to thrive in times of instability. Thatâs certainly the case right now in Zimbabwe. The price of a single Bitcoin surged to an unprecedented $13,500 on the countryâs only
Thomas Peterffy on CME Futures: “A Catastrophe in the Cryptocurrency Market… will destabilize the real economy.”
Chairman of Interactive Brokers, Thomas Peterffy, has voiced concerns about the plan to launch a Bitcoin Futures contract. According to their CEO, Terry Duffy, the CME Group intends to offer the
Bitcoin Price Technical Analysis for 11/16/2017 – Bulls Back on their Feet?
Bitcoin Price Key Highlights Bitcoin price appears to be reviving its uptrend on the 1-hour time frame, but there are still signs that bears could win out. Technical Indicators Signals The
Bitcoin Cash Price Technical Analysis – BCH/USD Grinding Lower
Bitcoin cash price is slowly moving down toward $1100 against the US Dollar. BCH/USD is facing two important resistances near $1200 and $1300. There is a slow and steady decline forming from the $1
Ethereum Price Technical Analysis – ETH/USD Testing Key Support
Ethereum price is correcting lower against the US Dollar and Bitcoin. ETH/USD has to maintain bid tone above $326 to gain upside momentum. There was a new minor high formed at $337.29 in ETH price
ALT COIN IOTA RALLY. GAINS $0.18
IOTA rally was perhaps November 15 highlight. Price action gained $0.18 by the end of the day. NEM, Monero, NEO and DASH were whipsawing with bull and bear pressure cancelling each other out. Letâ