CoinGeek’s Satoshi Vision Miners Choice Event is August 30th in Bangkok


Satoshi Vision Miners Choice To Happen In Bangkok, BCH Future To Be Discussed

The upcoming Satoshi Vision Miners Choice will happen in the city of Bangkok soon, on August 30. According to sources, the event will be very important for Bitcoin Cash (BCH), as miners will decide if they want to improve the BCH to 128MB  to make the token better or not.

These discussions are happening because nChain, a leading blockchain research and development initiative, has introduced Bitcoin SV, a full nude for BCH. This node was created after requests from BCH miners, including CoinGeek, which is sponsoring the upcoming event.

Bitcoin SV’s main mission is to actually go closer to fulfill the original Satoshi vision and restore the original Bitcoin protocol. This, CoinGeek affirms, will restore the original Bitcoin network and be important to avoid unnecessary changes in the network.

This announcement has led to much discussion on the community, as it can be expected because there is still disagreement on how to pre-code the maximum block size on the BCH full node and about other specifics of the discussion.

BCH Miners Already Configure Block Sizes

While the initial plan of the Bitcoin SV update is to raise the default maximum block size to 128MB in November 2018, many, specially CoinGeek, which is firmly defending the upgrade, believe that this is just the first step of much more and that the block size can be increased even more than this.

According to CoinGeek, all imposed artificial limits are not good for the protocol and they should be removed. The organization defends that the parameters like block size should be determined by the miners in a competitive spirit instead of having a maximum.

Part of the reason why the organization defends this idea is that some software like Bitcoin ABC can already let the miners do it, but the program is not very good and it is still very obscure and poorly documented, so it can be difficult for miners to use it effectively for the moment.

This way, CoinGeek’s main argument is that Bitcoin SV should also enable the miners to make bigger blocks, which would encourage them to use it.

CoinGeek’s Founder Talks About The Discussion

The founder of CoinGeek, Calvin Ayre, believes that it is important to restore the Bitcoin protocol to its original design and lock it. This way, developers could use a battle-tested protocol to build on top of it.

According to him, there is an urgent need to stop relying upon developers to increase block size and let the decision be made by the miners. This approach is similar to the one being used by Bitcoin Unlimited’s “emergent consensus”. Ayre defends “miner’s choice” because it takes the question away from the developer’s hands and avoids disagreements and it empowers the miners, the key users of BCH.

The creator of CoinGeek has invited all BCH miners to reunite with him to discuss the issue further and to reach a consensus about what should be done in the market to stop these problems and improve the Bitcoin Cash network.

About Satoshi Vision Miners Choice

The event, sponsored by CoinGeek, will happen on August 30 in the W Hotel in Bangkok. The CoinGeek Week, which will take place in London on November 28 to 30 will also be an important event for the people interested in the future of BCH.

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