[2016-07-01] Chinese Miners Allegedly Planning to Hard Fork Bitcoin

[jdebunt]

As it turns out, various Chinese mining pools are in agreement they will hard fork and switch to 2MB shortly. In doing so, they will also switch from Bitcoin Core to Bitcoin Classic, and solve any lingering network congestion problems. In the mining pool operators’ opinion, Bitcoin Core defaulted on a block size consensus, and they do not honor the desire to increase blocks to 2MB. BTCC is the only mining pool which has not agreed or disagreed with this plan so far.

http://www.newsbtc.com/2016/07/01/chinese-miners-allegedly-planning-hard-fork-bitcoin/

[1714512592]

1714512592

[1714512592]

1714512592

[1714512592]

1714512592

[1714512592]

1714512592

[1714512592]

1714512592

[Koadharber]

"This hard fork decision by Chinese mining pools requires a lot of collaboration from the mining community, though. At least 75% of all network hashrate will need to agree to the Terminator plan. Once that threshold has been surpassed, the new Terminator mining pool will switch to Bitcoin Classic as well. In doing so, they will push Bitcoin Classic support to over 90% of the network."

But there is very little discussion about Classic in this forum.

[TraderTimm]

First line:

It is important to note these details are not officially confirmed by any of the Chinese mining pools right now.

Yeah, so here's how this will go. If there's real support, then announce it prior to it happening. Otherwise, this is just some hearsay and nobody is planning on doing jack shit.

The drama that surrounds Bitcoin sometimes makes me wonder who is trying to stir the pot sometimes.

[European Central Bank]

it came from one guy no one's ever heard of posting some crap on a forum most people here aren't familiar with. is this what passes for quality bitcoin journalism? sheesh.

[Blamsud]

it came from one guy no one's ever heard of posting some crap on a forum most people here aren't familiar with. is this what passes for quality bitcoin journalism? sheesh.

It will stir some discussion. So if there is no block size increase in the future, some actions might be taken.

[aso118]

"This hard fork decision by Chinese mining pools requires a lot of collaboration from the mining community, though. At least 75% of all network hashrate will need to agree to the Terminator plan. Once that threshold has been surpassed, the new Terminator mining pool will switch to Bitcoin Classic as well. In doing so, they will push Bitcoin Classic support to over 90% of the network."

But there is very little discussion about Classic in this forum.

There is discussion, but you won't find it in the official bitcoin boards.
You will have to look at altcoin discussions.

[Kaneki]

This hard fork decision by Chinese mining pools requires a lot of collaboration from the mining community, though. At least 75% of all network hashrate will need to agree to the Terminator plan.However, this plan is very bold, and sounds a bit unrealistic. Then again, one never knows what comes next in the Bitcoin world.

[aso118]

This hard fork decision by Chinese mining pools requires a lot of collaboration from the mining community, though. At least 75% of all network hashrate will need to agree to the Terminator plan.However, this plan is very bold, and sounds a bit unrealistic. Then again, one never knows what comes next in the Bitcoin world.

It doesn't matter whether the miners coordinate or not.
The coin which the end users accept will be the true bitcoin, the other will be an alt.

[Ned Kelly]

it came from one guy no one's ever heard of posting some crap on a forum most people here aren't familiar with. is this what passes for quality bitcoin journalism? sheesh.

Totally agree. All this started with one post in Mandarin.

And there is no any economic intensives for big miners to risk their investments (hardware) in this case.