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Who Is Interested in Block-Size Debates?

19.03.2016

It is difficult to overestimate the role of social networks and online mass media in shaping public opinion. Intelligent control of information flow allows sending users’ thoughts and actions in the required direction. People spend a lot of time in front of computer monitors and get most of information from the Internet. Unfortunately, sometimes social networks become a tool of spreading disinformation. Popularization of false values and information is targeted at disorienting and deceiving people.
Panic appeared in the beginning of March in the informational space was obviously of biased character. Black PR against the cryptocurrency is obvious. Debates on reasonability of changing block size flooded social news-site reditt and thematic blogs. It is enough to re-read posts, quotes and comments to note that panic condition was aforethought. Somebody is interested in deceiving public while buying Bitcoins at attractive rate before rewards for discovery of a new block will be reduced (it is expected in July 2016). Next reduction of reward level will lead to complication of mining, so price of the cryptocurrency will continue its growth.
It is hard to make out care about growth of popularity of the alternative monetary unit in actions of dishonest businessmen. Covering by false slogans they intend only to increase their own cryptocurrency reserves. Shameless speculations are still in progress.
It is difficult to get the things straight in this tangle of interests of large Bitcoin-businesses and exchanges whose main income is commission charged for money transfers. At first glance it is clear that they are interested in growth of number and volume of transactions. Even if it corresponds to reality they would better not participate in suspicious debates but invest in improving of Bitcoin program code. It is reasonable to make changes in debugged mechanism of cryptocurrency operation after the possibilities of current standards would be exhausted. Moreover, they should in every possible way support popularization of the alternative monetary unit.
 Brian Armstrong (founder and CEO of a larger Bitcoin exchange Coinbase) announced that this kind of insinuations threatens current online-business models and reminds middle-of-the-road stories. Major players should take care of Bitcoin wealth and invest in improving operational standards provided in the cryptocurrency ecosystem by the genius developer. Instead, they open suspicious debates on necessity to increase the block size.
The comic side of the situation lies in the fact that larger Bitcoin-companies that earned many-million profits from investors do not plan investing into improvement of cryptocurrency mechanism. Generally speaking, the only company that works in this direction is Blockstream groupwhich doesn’t have sufficient financial possibilities to achieve the goal.
Impudence of “well-wishers” reached the point that they began to prove the link between sudden sharp increase of Efirium rate and made-up decline in popularity of the famous cryptocurrency. They say people began selling Bitcoin (disappointed in its scaling possibilities) and purchasing Efirium. Actually, flexibility of the latter cannot be compared with similar characteristics of the alternative monetary unit.
Some people consider that bringing in changes to the system can be carried out only after voting. However, they do not appreciate meaning of soft-fork, which was approved by the majority of miners and is capable of improving stability and capability of the system. Miners wallow in unnecessary shady plots. Half-wording plays into the hands of some forces which cash in on made-up fuss. It’s high time to put aside unnecessary debates and take care of Bitcoin progress as operation mechanism of the cryptocurrency has obvious capabilities of evolutionary development.