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Author Topic: [2017-11-10] In Defense of Bitcoin Gridlock  (Read 2226 times)
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November 09, 2017, 11:37:07 PM

by Max Gulker, PhD - Senior Research Fellow American Institute for Economic Research

Last week, I wrote about the Bitcoin scaling proposal known as SegWit2x, which proposed to double the size of the blocks storing transaction data to help the network handle more volume. I characterized SegWit2x as the scaling proposal that involved less centralization at the mining level, ironically, and compared it with another proposal called Bitcoin Cash. But in the last 24 hours, the coalition supporting SegWit2x fell apart, and the planned “fork” implementing the changes was cancelled. And the reason for much of the backlash against the plan was opposition to even this smaller proposed increase in the size of blocks.

My first reaction to the news this morning was to roll my eyes at the idealism of the Bitcoin community.....


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