Re: Bitcoin XT - Officially #REKT (also goes for BIP101 fraud)
One of the negative impacts of the 1 MB limit has been to encourage vertical intergration of ASIC production and mining in China. A higher limit would have encouraged the export oF ASIC hardware from China since China itself is an edge case for Internet bandwith and latency because of the great firewall of China.
Did I read that wrong
How does that follow again?
It happens that China is the cheapest place to make Bitcoin ASICs but also has a lousy Internet connection to the rest of the world. If one increases the blocksize this puts miners in China at a disadvantage. It leads to decentralization because there is now a strong incentive to sell and export the ASIC hardware rather than for the manufacturer to just operate the ASIC hardware themselves creating vertical intergration.
I'm sorry I don't see it.
Seeing as China more or less controls 50% of the hashing power they could actually be at an advantage against more dispersed western miners.
Such a move would likely see them ramp up ASIC production.