Back in August 2015, Bitcoin was making world headlines as Bitcoin XT was gaining in nodes and the dispute between Core Bitcoin developers who were dragging their feet on increasing the block size, and more radical developers who were interested in a more speedy adjustment.
During this infighting in the bitcoin community, price fell hard. There was all kinds of other stuff going on at the time, the Bitfinex flash crash for one.
And now Brian Armstrong of Coinbase has been in the middle of some drama regarding this. Due to his support for increasing block size in order to help scale bitcoin faster, and particularly because of his support for BitcoinXT, he has started to get some problems from the Core Dev bitcoin side. His article is a decent summary of the debate though as well as an argument for the increase.
During this infighting in the bitcoin community, price fell hard. There was all kinds of other stuff going on at the time, the Bitfinex flash crash for one.
And now Brian Armstrong of Coinbase has been in the middle of some drama regarding this. Due to his support for increasing block size in order to help scale bitcoin faster, and particularly because of his support for BitcoinXT, he has started to get some problems from the Core Dev bitcoin side. His article is a decent summary of the debate though as well as an argument for the increase.
As a reminder, theymos, bitcoin.org, and r/bitcoin are the ones who don't want to push a block size increase, essentially. They would rather drag their feet. Then on the other extreme are people that just want to shove a block size increase down everyone's throats. This dispute is partly why the Scaling Bitcoin conference in Hong Kong was being held.
So the drama is heating up again, right when we are sustaining a nice bull-run. Could this bitcoin protocol news really override the halvening which is supposed to be so bullish? Then one has to wonder, is the halvening already priced in as some are speculating?
This is a debate we have to continue to watch. If more players like Coinbase and Bitstamp and others flirt with running alternative blockchains, it could signal instability which the market will not like. However, for now, we are amidst a nice uptrend which is not breaking.
So the drama is heating up again, right when we are sustaining a nice bull-run. Could this bitcoin protocol news really override the halvening which is supposed to be so bullish? Then one has to wonder, is the halvening already priced in as some are speculating?
This is a debate we have to continue to watch. If more players like Coinbase and Bitstamp and others flirt with running alternative blockchains, it could signal instability which the market will not like. However, for now, we are amidst a nice uptrend which is not breaking.