Bitcoin Unlimited (BU) has been labelled an attack on Bitcoin, with critics arguing that it undermines the decentralised nature of the cryptocurrency. BU’s proposed changes would allow miners to decide the size of blocks they want to mine, rather than sticking to the current one megabyte limit. Critics argue this could lead to a concentration of power among a few large miners, undermining the decentralised nature of Bitcoin.
Defenders of BU, however, argue that the changes will make Bitcoin more scalable and democratic. They believe that allowing miners to decide block size will increase the capacity of the network and make transactions faster. BU supporters also argue that the changes will make the network more democratic, as all miners will have a say in the size of blocks.
Despite these arguments, many in the Bitcoin community remain sceptical of BU. They worry about the potential for a hard fork, which could split the Bitcoin network into two incompatible versions. Such a split could destabilise the network and cause the value of Bitcoin to plummet.
These concerns have led to a stalemate in the Bitcoin community, with neither side able to gain a decisive advantage. The debate over BU’s proposed changes continues to rage, with no clear resolution in sight.
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