The Bitcoin Block Size Debate, Who’s Better?

A bitcoin block size debate took place at a digital currency conference called the Miami Crypto Experience in April.


The Bitcoin Block Size Debate, Who's Better?

Rafael LaVerde was articulate, energetic and passionate about the BSV he supports during his presentation at the Miami Crypto Experience, a digital currency conference in April.

A bitcoin block size debate took place at a digital currency conference called the Miami Crypto Experience in April.

Three speakers representing Bitcoin SV (BSV), BTC, and BCH took the stage to convince the audience why the version of the Bitcoin system they represented was the best version.

Rafael LaVerde, a crypto-economics analyst and host of the Crypto Vigilante YouTube series, supported BSV, while JC Crown supported BTC and Sterlin Lujan supported BCH.

Chris Odom, the CTO and co-founder of Stash Crypto and an early supporter of BTC, who now describes himself as blockchain agnostic by comparison, kicked off the debate by providing viewers with some background information on why three different versions of the Bitcoin system exist.

Odom said, “At some point, if developers start to disagree about the protocol, you know, maybe some developers think the protocol should have a larger block size and some developers think it should have a smaller block size, so they can’t agree (with each other), and then they fork and they split. “

“So you end up with a situation where some nodes are running the same version of the protocol and some nodes are running another version of the protocol, and they all use the same blockchain history, [and] then they fork.”

As [the staff] finished setting up the stage, the audience learned why Bitcoin would bifurcate multiple times and the panelists were ready to debate. They began by answering the following question:” Why is the version of the Bitcoin system they represent the best version? “

LaVerde answered.

I’ve been working in this field for almost a decade, and I’m here because I think it’s important to remain objective, and as an analyst, we try to remain as objective as possible, and that’s our goal.

The word bitcoin is a compound word that is made up of ‘bit’ [and] ‘coin’; what these friends [other panelists] have been emphasizing here is the coin aspect of the word bitcoin, what one friend represents is the desire to be digital gold something that wants to be digital cash, and what another friend represents is something that wants to be digital cash. But the fact is, folks, according to Austrian sound money theory, neither of these coins meet that criteria! That’s because they’re trying to turn Bitcoin into something that isn’t Bitcoin.

LaVerde goes on to explain why BTC & BCH are not the bitcoins described in the original Bitcoin white paper. After this, the panel discussed mining and the hash rates that support each network, their thoughts and ideas on the best way to scale the Bitcoin system, the best/most interesting Bitcoin implementations they’ve seen, and more.

A very heated debate even broke out in the panel at the end of the debate. The debate gave the audience a high level overview of the three different versions of the Bitcoin system and mentioned the ideas that fit with each chain and what each chain is trying to achieve. laVerde was well spoken, energetic, and passionate about the BSV he supports during his presentation session.

All in all, this debate serves as somewhat of a crash course on Bitcoin and its fork for those new to the industry. Even if you are a veteran of the industry, watching this debate will give you insight into the current building priorities of each blockchain network.

So whether you’re new to the blockchain and digital currency space or have been around it since day one (of Bitcoin’s existence), I recommend watching the Miami Crypto Experience on the block size debate to learn more about each network.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/the-bitcoin-block-size-debate-whos-better/
Coinyuppie is an open information publishing platform, all information provided is not related to the views and positions of coinyuppie, and does not constitute any investment and financial advice. Users are expected to carefully screen and prevent risks.

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