“The Bitcoin exchanges have not spoken up during this block size issue. I understand why. It's a highly technical, polarized debate and they have not much to gain from publicly favoring one side over the other.”
Commenting on the different proposals that have been suggested over time, the community manager for LocalBitcoins.com, Max Edin, said:
Update June 16, 10:06 UTC: After publication of this article, itBit provided CoinTelegraph with the following statement:
“A one-time increase is easier to get behind and support, while a fixed automatic increase sounds dangerous in the long run.”
"We believe the block size should be increased and are open to proposals as to what the ultimate limit should be."
“Dangers to decentralization seem overblown. But many smart people disagree, so who knows? We are unlikely to be the first movers in this, and will adopt what seems to get the majority support.”
The restraint from the different bitcoin exchanges on the matter is striking, as they form a fundamental element of the Bitcoin ecosystem. Because of this important role, the exchanges' preference concerning the block size limit could carry a lot of weight, especially if the decision does come to making the radical shift from Bitcoin Core to Mike Hearn's Bitcoin-Xt in order to allow for Andresen’s proposed bigger blocks.
ItBit told CT they did not have a strong stance on the block size issue, while BTC-e, Bitfinex, Bitstamp, Kraken and ANXBTC did not respond to inquiries at all. It also doesn't appear that the companies have made any public statements on the matter elsewhere. The only exchange that has is Coinbase. The company said on Twitter that they support the block size increase, as we reported earlier this week in an article regarding web wallets' stances.
The one non-Chinese bitcoin exchange to directly respond to CT’s inquiry was LocalBitcoins.com. Like itBit, LocalBitcoins.com was hesitant to pick a clear side in the debate, and explained that it would probably follow where consensus goes, rather than push consensus in a certain direction themselves.
While most Chinese Bitcoin exchanges, Western Bitcoin web-wallet services and Bitcoin software providers have weighed in on the recent debate regarding the block size limit, almost all of the non-Chinese Bitcoin exchanges have so far refrained from offering meaningful, public comments on the issue.
CoinTelegraph reached out to all the bitcoin exchanges that account for at least one percent of global trading volume, as listed on bitcoinity.org, but we received no response from most of them. As such, it remains unclear whether the Bitcoin exchange industry would be in favor of raising the block size limit to 20 MB, as proposed by Bitcoin Core Developer Gavin Andresen.
Tuur Demeester, editor-in-chief at Adament Research, published a research paper this month called “Sizing Up the Block Size Debate.” Like CT, Demeester found that Bitcoin exchanges were generally averse to taking a clear stance on the issue. Speaking with CT, Demeester said:
Momentum Is Building to Block Ethereum ASICs
Several ethereum miners and developers have come forward with the goal of stopping specialized mining hardware from effectively operating on the network.
Underway since April, the controversy surro
Brazil's Largest Independent Broker Is Launching a Crypto Exchange
The parent company of Brazil's largest independent broker is setting up a cryptocurrency exchange, Bloomberg reported Thursday.
Grupo XP, which owns brokerage firm XP Investimentos, plans to launch
XRP Shot Up 75% During Friday's Bullish Trading Session
The price of XRP spiked as high as 75 percent above its opening price at one point during Friday's trading session amidst a broader market bull parade.
At roughly 14:45 UTC, the price of XRP rose
US Congressman Drafts Bills to Aid Blockchain Development
U.S. Representative Tom Emmer wants to support the development and use of blockchain technology and cryptocurrencies.
To that end, the lawmaker announced a trio of blockchain-focused bills Friday,
Report Finds Cryptojacking Instances Jumped 400% In A Year
Instances of cryptojacking malware have jumped more than 400 percent since last year, a new report finds.
A collaborative group of cybersecurity researchers called the Cyber Threat Alliance (CTA) p
Bitmain CEO Announces New 7nm Bitcoin Mining Chip
The bitcoin mining industry is having an exciting couple of days.
Just a day after Bitfury revealed a new 14nm mining chip called the Bitfury Clarke, Bitmain has upped the ante with the announcemen
Brave Browser Is Using Civic's Blockchain Platform to Verify Publishers
Privacy-focused internet browser Brave will begin using blockchain identity startup Civic's verification services to ensure publishers are paid for their content with Brave's Basic Attention Token (BA
US Navy Launches Blockchain Research in Mission to Improve Tracking System
A U.S. Navy command is exploring the potential of blockchain technology in tracking aircraft parts.
The Naval Air Systems Command (NAVAIR) – which provides material support for aircraft and airborn