Re:China Bans Bitcoin Executives from Leaving Country, Miner...
by nikcub on Wednesday September 20, 2017 @04:10AM
(#15291651)
If you follow Bitcoin politics you'd know that there is a large population of Bitcoin users who like this decision[0][3][4].
There is an upcoming contentious hard fork in Bitcoin called Segwit2x. It activates in November and is supported by some miners and a number of Bitcoin companies. Those who oppose that hard fork believe cutting China out of the network will cause the proposal to fail.
Segwit2x was a compromise between Bitcoin providers and the very miners that China look like shutting down now - primarily Bitmain, who many believe are also behind, or in control of, the previous bcash bitcoin fork. The compromise was activating Segwit in exchange for miners getting their wish of a 2MB block size increase. Segwit has since been force-activated with a user-activated soft fork - so many feel the compromise is now not necessary and presents many risks.
There is an upcoming contentious hard fork in Bitcoin called Segwit2x. It activates in November and is supported by some miners and a number of Bitcoin companies. Those who oppose that hard fork believe cutting China out of the network will cause the proposal to fail.
Segwit2x was a compromise between Bitcoin providers and the very miners that China look like shutting down now - primarily Bitmain, who many believe are also behind, or in control of, the previous bcash bitcoin fork. The compromise was activating Segwit in exchange for miners getting their wish of a 2MB block size increase. Segwit has since been force-activated with a user-activated soft fork - so many feel the compromise is now not necessary and presents many risks.
[0] https://twitter.com/stefanobernardi/status/91023339225132646...
[1] https://bitcoincore.org/en/2016/01/26/segwit-benefits/
[2] https://github.com/OPUASF/UASF