Bitcoin big players voted on blockchain survey site Bitcoinocracy in favor of expanding the on-chain capacity to 8MB, but the community is not buying it

Some Bitcoin enthusiasts and holders recently gathered on the blockchain survey website Bitcoinocracy to vote on block capacity expansion. The voting results show that most people hope to increase transaction speed and record more transaction data by expanding block capacity.

Bitcoin holders can post and vote on this website and verify the validity of their votes using their own Bitcoin keys.

The choice of “big Bitcoin users”

Two of the addresses hold a large amount of Bitcoin. On this website, the voting results are determined by the amount of Bitcoin held, which means that the votes of the "big players" are the most critical.

The two addresses hold 41,748 BTC and 44,998 BTC respectively.

The voting topics on the website mostly revolve around the issue of Bitcoin forks. The two major users voted on the following issues respectively.

1. I don’t think that unlimited block capacity will lead to a reduction in miner rewards. In the long run, the mining industry is still profitable, so unlimited block capacity is good for the development of Bitcoin. (92.15% voted in favor)

2. After the fork, I will sell BlockStream Core Coins and buy Classic Bitcoins. (83.21% voted in favor)

3. If Core loses the hard fork dispute, I don’t think big investors will sell Bitcoin and the price of Bitcoin will not plummet. (76.56% voted in favor)

4. I think the block size should be increased to 8MB as soon as possible. (86.14% voted in favor)

5. I believe that micropayment channels and other tools can help Bitcoin realize its currency functions, so the core value of Bitcoin does not need to change. (94.76% voted against)

Don’t follow Ethereum’s path

Recently, the Ethereum community has staged a farce due to a hard fork. Therefore, the Bitcoin community is also worried about whether the fork will split into two competing Bitcoins. If the nightmare comes true, the price of Bitcoin will definitely fall.

However, the purpose of the forks of Bitcoin and Ethereum is different. The fork of Ethereum completely changed the nature of its platform. This fork is a disguised way of telling people: "In the future, we can fork the blockchain at will."

Smart contract codes are supposed to be trustless, but this behavior completely destroys users’ trust in them. ETC supporters said they maintain ETC only to ensure the immutability of the blockchain.

But the Bitcoin block expansion fork will not bring similar consequences. However, some people believe that if the Bitcoin block capacity becomes 2MB, it will no longer be the same as before.

The authenticity of the votes on this website remains to be verified. Let's take a look at the comments of netizens.

Bitcoin_forever -8: This vote is meaningless. In the world of Bitcoin, no matter how much you hold, we are all equal. Otherwise we will return to a slave society.

SeriousSquash 3: The votes of the big players are very important because once there is a fork, the miners will follow them. After all, the miners still need the money from the big players to support themselves.

Roger Ver (I am not sure if Roger Ver here is “Bitcoin Jesus”): Nearly 90% of the people in this vote agree to increase the block size. Those who are against on-chain expansion, either take action or shut up!
Vortex: It seems that only big investors participated in this vote. It’s not fair at all. Many people don’t even know about this.
Roger Ver: It's not too late to vote now. If you have the ability to change the vote, we will report it truthfully.

Bitcoinpotato: If I have 5,000 Bitcoin addresses, can't I vote 5,000 times? This vote is not accurate at all.

Blindfolded: How can 98,000 bitcoins represent 16 million bitcoins? Just because 0.6% of bitcoins voted silently on an unknown website, it is said that the community has reached a consensus? What do you think we are? Ethereum? It is just a play performed by two big players driven by personal interests. It cannot represent the community consensus at all. Anyone who is proud of this should be ashamed.