Bitcoin Core’s House of Cards

Core’s strategy of ignoring the block size controversy is backfiring or will soon backfire. While up to 70% of the dev community may support 1MB blocks, the wider community (miners, industry, users) is not nearly as supportive of stalling on-chain progress in favor of layer two solutions that may never materialize or may literally take years to arrive.

Slowly the community is waking up to the fact that Core doesn’t have their interests in mind. My belief is that the market will ultimately get what it wants, despite Core’s desire to centrally plan. BU happens to be the most promising Core competitor at the moment, buoyed by support from new mining pool. Or maybe I’m just a wishful thinker.

In my opinion, we’ve been in deadlock for the past 18 months largely due to miner apathy. I’m very happy to see that miners and mining pools are starting to form their own opinions. The community really needs engaged miners to act as a check and balance.

The Scaling Bitcoin conference in Milan may be the straw that breaks the camel’s back. They curated (censored?) presentations to only focus on off-chain scaling. They won’t even begin to enumerate impediments to on-chain scaling. This should show you that they are not about “science” but rather are about their own political agenda.