The growing support for Bitcoin Unlimited can provoke a fork of the Bitcoin network.

 

Project Bitcoin unlimited attention, as mining blocks, support core Bitcoin may soon fall below 80%. This event was the signal that the network of Bitcoin can branch out, dividing supporters direct increase the block size limit and followers of alternative methods of scaling - SegWit and lighting network.
Attempts to increase the size of the block already made repeatedly. The last and most notorious of these took place before the project is unlimited, while the activity of the Bitcoin classic. Then the figure support classic reached 70 units per 1000 (about 7%) before gradually began to decline. This month the project Bitcoin Nl which will allow to increase the size of the block based on the vote of the miners, quickly surpassed this performance, and reached the support of more than 10% of the blocks.
Together with approximately 2% blocks classic (of which the number is declining), the share of the core dropped to 80%. This already allows the minority to block the use of him uncomfortable softforyou - for example, the introduction SegWit. Such a pulse may indicate that the possible split of the network in the offing.
Management problems

Jose Rodriguez (Jose Rodriguez), Vice-President of the Mexican exchange Bitso, suggests that the possible increase of the block size required for expansion of the network if it wants to use on a large scale:

"Ideally, the block size should increase. Then bitcoins will be able to surpass payment systems such as American Express, Mastercard and Visa in various financial transactions. At the moment the leader is Visa, which provided 71 billion transactions in 2015, according to their annual report. It's more than 1.3 million transactions every 10 minutes – this is the kind of level to strive Bitcoin".

Growth retardation of the block size related to problems in the management of the network. The current limit block size (1 megabytes) has long been the object of controversy in the community. Supporters of the increase in block size, say that small blocks significantly reduce network bandwidth and increase costs, making bitcoin unusable for mass adoption. At the same time their opponents say that now the currency is strong as ever and any attempt to make fundamental changes to Bitcoin will result in unnecessary risks.

According to Eric Sammons (Eric Sammons), consultant alternative cryptocurrencies Dash (which also recently held a short debate before the block size was increased), the consideration of the problems Bitcoin needs to begin not with the size of the block, and with questions about the implementation of an effective currency:

"The real problem lies not in the size of the block, and in the management system. One of the main reasons for increasing my interest in the Dash was a disappointment in the control of Bitcoin, which is discussed on the forums and on Reddit, continues to be controlled by a small group of miners and developers. It is clear that such system is difficult to name effective. Dash, on the other hand, has an excellent management model that allows you to solve problems like the size of the blocks quickly and for all."

In the case of successful implementation, the project Unlimited installs changing the block size, giving the miners the opportunity to determine which blocks they want to handle. This will make it easy to implement larger block sizes when it is needed for the network while avoiding potential problems and disputes on this topic in the future.

If you increase the block size, it may be a new problem – profits of miners. Maintaining the speed and low cost network allows us to provide a greater volume of transactions, but at the same time prevented the generation of more profit miners of Bitcoin. This in turn leads to reduced stimulation of miners to support the network, so their revenue starts to fall.
Cryptocurrency investor Marc De Mesel (Marc De Mesel) believes that the future – for more free networking:
"By 2021, the yield will be less than 2%, which would make Bitcoin more vulnerable to attacks 51%, if only the miners will begin to receive extra income in addition to inflation. Transaction fees – a perfect solution for this situation. Bitcoin can afford it the rights of the pioneer. Then it turns out that after reducing the number of transactions a minute, people will have to pay for transfers, if they want them implemented quickly."