Bitcoin Classic expansion plan receives support from more than half of the network’s hashrate

萨姆•科尔, CEO of Swedish Bitcoin hardware manufacturer KnCMiner, wrote a letter to Roger Ver, stating that KnCMiner will support the Bitcoin Classic expansion plan. He also allowed Roger Ver to post the contents of the letter on a social forum. Judging from the comments of netizens on the forum, KnCMiner's actions have received positive feedback.

Sam Kerr writes:

“Obviously, we are facing a real crisis, one that the Bitcoin ecosystem has never faced before, and this time it seems to be entirely caused by humans. But I don’t think this is a bad thing. I think everyone should agree that the global acceptance of Bitcoin technology is still very, very small, and we still have a long way to go to truly realize the true potential of Bitcoin technology. I personally firmly believe that Bitcoin can grow into a powerful system. At present, we may just have different opinions on which direction Bitcoin technology should develop, but I absolutely believe that no one in the Bitcoin community wants to see Bitcoin technology end and stand still... We are constantly accepting new users, and now there is just not enough space. Many smart minds have proposed various expansion plans... I decided to support the 2MB expansion plan for Bitcoin classic.”

Then, Sam Kerr gave the reason:

This not only allows us to accommodate more users, but also shows that:

•We will protect our investments and businesses.

•These are sound economic rules for Bitcoin business, not just ideological ideas.

• Under pressure, we may make decisions that are beneficial to the development of Bitcoin technology, although it is difficult and may not take into account every individual or company

•The various solutions or fixes proposed by the development team take into account what we think are the business and economic needs rather than just from a technical perspective.

Of course, Sam Kerr also pointed out some negative effects of doing so

• Will cause more rifts in the development team

• Will cause us to experience the pain of a hard fork

Finally, Sam Cole concluded, “We will change the code to run Bitcoin Classic,” and called on more people to join them.

Almost at the same time,瓦列里•瓦维洛夫, CEO of Bitcoin mining giant Bitfury, also tweeted his support for the Bitcoin Classic expansion plan.

“Bitfury, the largest private mining pool and security provider is ready to support bitcoin classic’s 2MB expansion.”

But judging from the comments of netizens, most people opposed Valery Vavilov's action.

Netizen BEN said: "The Bitcoin Core development team is the best. Bitcoin Classic is inexperienced, unreliable, and will immediately cause a hard fork, which is something we should be wary of."

But Henry Brade, founder of Finnish bitcoin company Bittiraha.fi, expressed support for Vavilov, commenting: “Thank you very much, this is a very strong statement, which is exactly what is needed at this moment.”

According to 8btc user satoshi, at present, AntPool, F2Pool, GuoPool, BiNet, Avalon, and HaoBitcoin have all supported the 2MB solution. Major companies in the industry have clearly stated their support: Coinbase, Bitstamp, Blockchain.info, OKCoin, Circle, Xapo, etc.

What is the Bitcoin Classic expansion plan? To put it simply, Bitcoin Classic continues Satoshi Nakamoto's idea (blockchain development can follow Moore's Law), and considering the current network status (especially the firewall where Chinese miners are located), the original 1M block limit is increased to 2M. Increase the total number of transactions that the network can support.

A detailed introduction and explanation of Bitcoin Classic can be found here.

Compiled by: printemps
Source: Babbitt Information (http://www.8btc.com/80-support)