Toomim bitcoin mining
Posted On 24.10.1956
Jonathan Toomim is an American miner and developer. In the heat of the block size debate he came up with a possible solution thereto, however, none of his findings seemed to appeal to the community. Unlike other developers, however, Toomim toomim bitcoin mining to China himself, interacted with local miners, and held an informal survey in order to find out what block size might seem appropriate.
Notably, most of those activities were happening somewhere behind the scenes of the raging block size dispute. Even though Toomim addressed to the attendees of Scaling Bitcoin workshop in Hong Kong, much of his proposals remained unnoticed. That explains why the news as to the enormous support to the project became a surprise for the most of the community. The collaboration between Toomim and Core developers happened just a few days ago, however, all the previously surveyed miners who stated that 2 MB was well enough, expressed their explicit support for the proposal. Toomim himself wrote a post on Reddit, where he described his vision of the system. However, Samson Mow of BTCC stated that, while supporting the move towards 2 MB limit, the company is still cautious about Bitcoin Classic itself.
We support a 2 MB increase but we will not sign on to support Bitcoin Classic until we feel there is a real long term plan behind it, and enough engineering talent. Ironically, Mike Hearn’s recent departure from the ecosystem could play into the hands of the community. When we were preparing for XT, we also went and talked to the Chinese miners. They told us that the original 20mb limit Gavin proposed was too high, but that they could accept 8mb. Then after XT was launched they changed their mind and said any growth after 8 at all was totally unacceptable. Now they’re telling the Classic guys that 2 is the most they could handle. Still, Hearn apparently hasn’t changed his mind as to the future of bitcoin.
Core’s reputation is much worse, they’ll have better luck, but even then the best case scenario is that Bitcoin gets a 2mb limit. He concluded his allegiations with yet another statement that the system is doomed for further centralization and failure. More to the point, even in the best case scenario, the community will essentially accept that Bitcoin is controlled by the Chinese government and grows or shrinks at their whim. Bitcoin Classic has effectively replaced Segregated Witness as the community’s most hoped solution for overcoming the crisis it is currently in. Will the Bitcoin Consensus Roundtable Put a Lid on Bitcoin Classic? Cryptocurrency events, Bitcoin price analysis, op-ed’s, crypto-technologies, and all the news about Bitcoin. From that point, 4 additional weeks must pass until the maximum blocksize is raised to 2MB for Classic.
XT, 2 weeks must pass for the maximum blocksize to be increased to 8MB. To mine BIP101 blocks, direct your mining hardware to one of the pools below. This is one of the most important ways to contribute, as mined blocks are where the votes are counted for bigger blocks. Merged Mining with: NMC, IXC, UNO. Use your bitcoin address as your username. To have your pool listed here, you must be actively running BIP101 compatible software such as Bitcoin XT.