Bitcoin blocksize less than the size of a floppy !?
Do core developers really believe that a block size of 1MB is sufficient for a global currency when it is fully adopted? It is less than the size of a floppy disk to record nearly 10mins of global transactions!? It does not matter if lightning succeeds or not, the bottom line is that the artificial and honestly ridiculous block size limit has almost killed Bitcoin scalability. I am not pro bch or anti btc, I am just a normal guy who wants to see crypto succeed. At this moment though, Bitcoin cash is the clear winner.
Mike Hearn: “If the Bitcoin community doesn't establish systems for containing this conflict it will arise again over some issue that appears superficially different to the block size debate, but underneath looks much the same.”
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Bitcoin mining is undergoing a fundamental shift, as evidenced by yesterday’s mining of the largest sized block yet. Last night’s (UTC time) record-breaking block (#505,225) came in at 2.18MB. Such sizes continued overnight, with several blocks recording sizes in excess of 2MB. The initial record was in fact short-lived, with block #505,253 – totalling 2.22MB […] Bitcoin Cash and Bitcoin SV rarely approach full block capacity, and on a typical day, their average block sizes are much lower than those found on Bitcoin. Additionally, both blockchains have much lower transaction volumes than Bitcoin, as shown below. Bitcoin (BTC) The king of cryptocurrencies and the market capital leader. Ethereum (ETH) The smart contract leader and 2nd largest cryptocurrency. Bitcoin Cash (BHC) Hardfork of Bitcoin, increasing block sizes. Ability to process more transactions. coming soon. Simple, private and secure service . You'll love the comfort that comes with ... This issue led to a rift within the Bitcoin community who were conflicted as to the best way to solve this scaling issue. A small but vocal group felt the need to maintain 1MB block sizes, and work on off-chain settlement layers - still in development today. They wanted to shift Bitcoin away from electronic cash into a collectible settlement layer. The storage size of the Bitcoin Cash (BCH) blockchain is increasing with every additional block, at a rate of: (size of the last block) / (time to mine the last block) Tools. Link to Chart. Markdown / Reddit Link. Embed Chart. Download Data Download CSV File
Bitcoin Q&A: Scaling and the block size debate - YouTube
As Bitcoin grows, its blocks are starting to fill up, and thus discussion has been ongoing on how to best handle this. The block size limit is current 1mb per block, 4mb, 8mb and 20mb limits per ... Bitcoin is changing the way we look at money. As we go through changes in our society we are seeing the importance of cryptocurrency in our lives. Cryptocurr... Bitcoin's size compared to Banking System CryptoClarity. ... In this video I compare Bitcoin's daily transaction volume to the current Banking Systems daily transaction volume and try to present ... This Bitcoin mine is still small to medium, with the capability to have up to 1200 servers. Quick overview tour showing electrical power, cooling flow, and how the Bitcoin miners are connected. If you use responsible risk management, you won't be stressed out if a trade doesn't go your way, and you won't feel the need to stay glued to your computer ...