Post
Topic
Board Development & Technical Discussion
Re: Wondering out loud: Which should Chinese miners support - Core, Classic or another?
by
Eric Mu
on 29/01/2016, 13:12:17 UTC
The 2nd half of the Scaling Bitcoin conference was China, where many photos were taken of the world's biggest miners sharing a stage.  So I don't see how Chinese Bitcoiners have "little say in the matter" of scaling.

But as one of the Chinese panelists said at the event, they felt like merely an audience who are asked to sit there to choose between options given to them.

Please explain the perceived benefit of 2MB over 1MB blocks at this time.  Why are they, right now, superior in a cost vs. benefit analysis?
The perceive benefit varies. For some, it is that Bitcoin will continue to function as a payment network for individual users rather than a settlement network where only large transactions can be processed cost-efficiently. It is a modest change. It introduces less complexity. It gives SigWit more time.
Also, some believe that it is a test of Core team's willingness to listen to them. If they don't make what appears to be a small compromise, the Chinese fear that they will unlikely to do so in the future.