Bitcoin scaling debate

Bitcoin scaling debate

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At the moment, a large number of discussions are taking place in order to figure out the best method that is available for scaling Bitcoin. Due to the complex nature of the cryptocurrency network, human figures cannot be used alone in order to get useful information to move forward with the debate.

On one side of the debate, there are the core developers of Bitcoin. They have contributed a lot towards the development of the cryptocurrency. On the other side, you can see the hardware providers and Bitcoin mining pools, which are based on China. They are also playing a major role behind the progression of the cryptocurrency. Without the contributions of these two parties, it is not possible for a cryptocurrency such as Bitcoin to exist.

When analyzing feedback obtained from several mining pools such as BW, Bixin and AntPool, it can clearly be seen that there are many different perspectives existent on how to scale Bitcoin. The entire culture associated with Bitcoin becomes argumentative at times. The communication gap that exists in between China and the English speaking countries has contributed a lot towards this fact. Due to the differences in native languages, there is a major gap in the communications.

This fact has clearly been described by Virgilio Lizardo Jr, who is the head of International for the Bitbank group. This is the group that owns the BW pool. As per Virgilio Lizardo Jr, the language difference that exists in between the two parties is immense. This can often lead them towards miscommunications. There is no Chinese presence at all in the Bitcoin forums where English is spoken. As a result, the stereotypes of the Chinese Bitcoin miners tend to continue with proliferation. Jihan Wu, who is the co-founder of Bitmain also agreed to this fact. As per Jihan Wu, no common discussions are being held in between the two parties engaged in the debate. As a result, the interests and voice of the Bitcoin miners are often misunderstood and they are not being presented in the right way.

Exploring the nature of the problem

A clear definition about the nature of the problem that exists in between Chinese Bitcoin miners and the Western community has been provided by Lizardo. Lizardo is one of the transposed westerners and he has a clear understanding about the culture that exists in China. As per Lizardo, there isn’t any media outlet available for the miners in China to let their voices go out. This can give life to mistrust as well as distorted narratives along with time. Lizardo also stated that there is a tendency among the Bitcoin miners in China to go together and form a monolithic entity.

The visions available about future as of now are somewhat diverse. As per Wu, who is one of the open supporters of Bitcoin Unlimited, there are many different opinions among the miners about Bitcoin scaling debate. They don’t expect any breakup of the cryptocurrency. Instead, they prefer to single implementation and maintenance of the protocol, which can ultimately lead everyone towards a healthy community. However, Wu has stated that he strongly believes multiple implementations are required for the proper maintenance of Bitcoin ecosystem.

Priorities in business

Wu also stated the fact that Bitcoin mining farms that can be found in China as well as in other parts of the world are purely businesses. As a result, all of them have their own business strategies and agendas. There is a general idea among Bitcoin miners that bigger blocks are needed in the cryptocurrency. Even though they have the idea of getting bigger blocks, they prefer to stay away from the open discussions. Instead, they just keep their focus on the day to day operations that are carried forward by the business.

It is a well-known fact that basic information about Bitcoin farms that exist in China are not much exposed to the outer world. We rarely come to see videos or photos of the large scale industry warehouses that are equipped with the Bitcoin mining machines. However, we don’t find anything else. These Bitcoin farms are mainly located in the rural areas of China. As a result, most of the people who work for these farms come from a traditional Chinese background. One of the key reasons that has contributed towards the large number of Bitcoin farms that exist in China is the availability of Cheap electricity.

The electricity supply that is available for the Bitcoin farms in China is reliable as well. Therefore, a Bitcoin mining farm that exists as a business will never find it as a difficult task to move forward with the day to day business operations. On the other hand, constructing a new Bitcoin mining farm is not a big project and it does not require precise logistics.

The job role of the miners who work for the Bitcoin mining farms in China is somewhat repetitive. They mainly have to work on the installation, maintenance and repairs of the mining machines and other facilities. In addition, they will have to monitor the temperature that exists in different parts of the Bitcoin mining farm and make sure that everything is at a safe level. However, a lot of passion is required to manage the Bitcoin mining farm operations because thousands of miners are there and they will need to be looked at 24/7.

Most of the people who work for the mining farms come from local communities. Then they are provided with an appropriate training by the business in order to become maintenance workers and technicians. However, all these miners are stressed with the 24 hour commitment that they have towards the job.

Conclusion

The Bitcoin core developers and the Chinese people who work for Bitcoin mining farms are debating with each other. If the communication issues that exist in between them can be resolved, these debates can be ended and they will be able to come to a one ground opinion.

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This is Lutpin, and I edit, review and publish articles for CryptoNews. Sometimes, I also write them myself. I started being interested in bitcoin and cryptocurrencies as far back as late 2012/early 2013. A year later I dropped out of the scene due to losing interest. Since 2015 I'm back in and involved deeper than ever. Besides writing articles, I'm a huge fan of gambling, preferrably combined with cryptocurrencies. Another big interest of mine are physical bitcoins, I know everything about them. Besides Crypto-News and Crypto-Games, you can find me mainly on bitcointalk.org