The blocksize war: A journey of ambition, debate and ultimate failure

I just completed The Blocksize War by Jonathan Bier. I have to say that it is one of the most engaging and riveting tales in the history of Bitcoin that I have ever read!!

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The tale unfolds on August 15, 2015, when two renowned Bitcoin developers, Mike Hearn and Gavin Andresen, released and endorsed Bitcoin XT, a new version of Bitcoin. The proposal was simple yet revolutionary – increase the blocksize limit from 1 MB to 8 MB and double it every two years until 2036. The aim? To accommodate growing demand and position Bitcoin as a global payment system capable of competing with traditional financial networks.

However, the Bitcoin XT proposal was more than just a technical upgrade. It revealed deep-seated issues related to protocol rules, the significance of user nodes, time preferences, and the very essence of Bitcoin’s DNA. The community was split, and the stage was set for a battle of ideologies and visions.

Gavin Andresen, a respected figure with significant influence within the Bitcoin community, played a pivotal role in amplifying the impact of Bitcoin XT. His endorsement turned the proposal into a "bombshell moment," igniting discussions and debates across social media platforms, particularly Reddit and BitcoinTalk. The moderation policies implemented by Theymos, who controlled both platforms, added fuel to the fire. For those willing to take a walk down the memory lane to those tumultous times, here is the link to the original post.

As the debates raged on, the large blockers seemed to be gaining ground with a clear message and majority support. However, the aggressive nature of the Bitcoin XT proposal raised doubts and concerns. Was it too ambitious? Did it compromise the decentralized nature of Bitcoin? The community was at a crossroads, and consensus seemed like a distant dream.

Despite its initial momentum and the backing of influential figures, it failed to secure the necessary support and adoption from the wider community and miners. The resistance to such a drastic change, coupled with concerns about centralization and the preservation of Bitcoin’s core principles, led to its ultimate failure.

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I just love to revel on the fact that our community has evolved so much that now we have works of literature emerging documenting our journey...isn't that amazing?!! Highly recommend this book for a nice and engaging weekend read!