The controversial debate between Roger Ver the CEO of bitcoin.com and Samson Mow the CSO of Blockstream was held at a talk show conducted by Deconomy in Seoul South Korea on 3rd April. The debate was hosted by Jeff Paik, the Co-organizer at Deconomy.
The chat started with both the debaters expressing their opinion about Bitcoin scaling.
Roger mentioned how Bitcoin grew from just small blocks of 2kbs to a huge number of megabytes where people from all over the world started using the technology for various purposes over the past 7 to 8 years. He was making his point clear that by following the previous strategy and existing economic formula which is alive in the form of Bitcoin Cash can increase the scalability of Bitcoin.
Samson Mow, on the other hand, said that the on scale chaining is not feasible and there must be a second layer technology where everything is cryptographically linked to the main chain. He says that the payments would be more powerful and instant if Bitcoin is used along with Lightning.
On contrary to that Roger stated that there are only 2-3 merchants currently in the market who accepts Lightning. Though the intentions behind Bitcoin Core are positive, the empirical evidence proves that the effects of it are negative and it has damaged Bitcoin in recent days.
Also, the talk continued as to why Bitcoin is losing its market to Altcoins.
For which, Roger mentioned that this issue began as soon as the blocks became full and the transactions were reducing, therefore the solution for this is to expand the block size as suggested by Satoshi instead of limiting the size of the blocks, forcing the users to migrate to the layer two solutions. He was quite certain about his solution and said that increasing block size is a sustainable solution on Bitcoin Cash and it would be a long-term plan.
Samson raised a conflicting thought about it by saying, increasing block size is a dead end when scalability is considered and proper validation has to be done for all the blocks when you receive it over the network for better security. However, to execute these validations, time and space have become a constraint. Hence increasing block space is not the right solution is what he mentioned.
Towards the end of the contention, Roger mentioned that Bitcoin Core with Lightning network is very expensive and unreliable. The zero confirmation transactions on Bitcoin Cash is already secure and users do not have to wait for the full-fledged implementation of the lightning network for their transactions. It is also safe enough for merchants to accept it without a second thought.
“The Bitcoin core supporters have made a sophisticated propaganda to belittle the people who use bitcoins for their basic needs.”
Martin Skieller a Twitterati says:
“Actually @rogerkver is absolutely right with this statement. If you don’t think so, That’s probably why you support BTC! Well said Roger!”
Ryder G, another cryptocurrency enthusiast says:
“Yup. You won the debate, Roger, there should be no argument about that. He was woefully unprepared, and due to the failings of BTC, always at a disadvantage.”
A data miner who is also a crypto enthusiast tweeted:
“Mining a Block has NOTHING to do with miner’s fee….A miner can only include one transaction in a block (i.e. coinbase) & just solve the math problem to get rewarded……How about a minimum tx fee for EVERYBODY?”
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