In my view, Bitcoin XT is the best option I've seen so far. Not just because it has working code, but also because it has a simple implementation that is easy to understand, the block-size increases seem about right to me, and I have confidence in the people behind the project. My preference at this point would be to have Gavin step up as the final decision-maker on Bitcoin XT, and have the industry move to that solution with help from Mike Hearn, Jeff Garzik and others that wish to do so.”
The CEO believes an upgrade is urgently needed in order for the Bitcoin network to handle a sudden increase of Bitcoin usage. As such, Armstrong emphasized that Coinbase will not wait for consensus to form among the Bitcoin development community.
“We will upgrade regardless of whether Bitcoin Core is updated,” Armstrong said. “Capacity planning is something you should try to get ahead of. Growth can be unpredictable, and I want to remove all blockers to Bitcoin's success. I've been disappointed to see how slow Bitcoin Core has moved on this issue, and we're open to switching forks.”
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