Receive all Bitcoinist news in Telegram! There is a spirited discussion currently happening about bitfury 16nm bitcoin the block size.
We believe that in order for Bitcoin ecosystem to prosper, the maximum block size must be increased. It is a common understanding among Bitcoin developers that the current limit of one megabyte hinders scalability of Bitcoin Blockchain and prevents its wide adoption as the technology of the future. We have thoroughly studied all block size increase proposals and find that Jeff Garzik’s BIP 100 proposal is the most reasonable and considerate one. We think that the block size debate must be resolved by a consensus and the voting mechanism introduced in BIP 100 is a good way to achieve such a consensus. The forecasts of growth of the Bitcoin network made in other proposals don’t provide enough predictive power, so in such case the cost of a mistake is extremely high. Because of our role and responsibility for the integrity of the Bitcoin network, we can’t support a momentary jump to 8 MB blocks. We believe a substantial part of full nodes right now would not be able to support blocks of this size simply because of hardware limitations.