After Bitcoin Developer Suggests Dropping Block Size To 300kb, Roger Ver Threatens To Sell His BTC
After Bitcoin Developer Suggests Dropping Block Size To 300KB, Roger Ver Threatens To Sell His Bitcoins If The Plans Go Through
As the discussion on the halving of Bitcoin mining rewards goes on, the debate surrounding the block size of the popular token is becoming divisive. As this change has been suggested over time, it has even resulted in major hard forks, like Bitcoin Cash and Bitcoin SV.
A developer for Bitcoin Core, Luke Dashjr, is responsible for bringing forth the idea of bringing down the Bitcoin (BTC) block size to 300KB. However, this idea has not been well received by the community, and there have even been major influencers in the industry to strongly fight back.
Dashjr said, “There is never any guarantee. We need to reduce the block size just to have a *realistic hope* of it remaining feasible and *becoming practical again*. The blockchain is *already* bigger than most people are willing to tolerate, and the situation is getting worse and worse.”
Roger Ver, the CEO of Bitcoin.com and a major supporter of BCH, spoke during a recent video, voicing his opinion on the potential for a smaller block size. He was clearly against it, and he even said that he would dump the Bitcoins he presently has if this proposal becomes real.
The video continues, as Ver says,
“I really really hope that Luke Jr. and all these other guys lower the BTC block size to 300 kilobytes if they do, I will sell even more of my BTC. A lot more. Maybe, I would even sell all of it at that point. Absolute Insanity.”
A developer for Bitcoin Cash, Gabriel Cardona, was also in the YouTube video, and agreed with Ver’s opposition to Dashjr’s plan. However, he took a different road, adding that the change in the block size would have a negative effect on the experience of the user.
Cardona added, “The crazy mistake of shrinking the blocks, the mistake of, depending on the lighting network as a scaling solution, is that it’s just a poor user experience and there are solutions that are superior. And that’s just a fundamental misunderstanding on a deep level.”
That does not mean that everyone is against reducing the block size. John Carvalho, who is known as Bitcoin Error Log, tweeted that the reduction would make sense for the Lightning Network. He even said he would run the soft fork. In his tweet, he said, “I agree with @LukeDashjr that the block size should be smaller. I feel more confident to say it now that we have LN making strides. I’ll run the soft fork.”
Not long after, co-owner of Bitcoin.org and Bitcointalk.org, Cobra, said that he was against the shrinkage, adding that soft forks like this one are “contentious.” Responding to Carvalho, he tweeted,
“Stop this madness! Last thing Bitcoin needs is yet more contentious forks in this key year for adoption! A soft fork to “reduce the block size” is a hard fork in all but name. This will split off from the established consensus, cause massive drama, and damage trust in Bitcoin.”