This week on Transmission, Theo and his guests cover the block size debate. The discussion around the block size limit and a possible fork of bitcoin via bitcoin XT has caused a lot of heated discussion recently.
What Will Happen?
There is a lot of fear and uncertainty in regards to what might happen in January 2016, which is the projected deadline for the decision to fork or not fork.
“It is a rough estimate, and it does depend on the block times and how quick they are propagating right now. But essentially around Jan 26th, if we have a 75% consensus, then we are going to go through with a hard fork of the bitcoin blockchain, and after a two week grace period, the block size limit will increase to 8 MB. Once pools and exchanges switch over, then the old software will not be able to process those transactions, ultimately creating 2 chains.”
What do you think of bitcoin XT? Is there more to the discussion than simply the block size limit?
Transmission is a weekly podcast featuring bitcoin, altcoins, and blockchain technology broadcasting live every Sunday at 3PM EST. The Spice Must Flow.