Bitcoin Classic

4 stars based on 38 reviews

Bitcoin Classic was started in early with the clear intention of coming back to the coin that Satoshi indicated as his goal. Now this goal has been reached we will step down. It would avoid any technical complications and would lower the bar so far that we could not logically go any lower.

It was the last, best, offer for peace. Over the next 2 years a lot has happened. A lot of very competent people have attempted to do what Classic attempted. With grander and fairer offers and still ultimately the lowest demand for growth. And all failed to move the Legacy Bitcoin chain towards a scaling solution. With the New York agreement failing just this week, we can be bitcoin classic mining that the people that control the Bitcoin Legacy chain would rather go down with their ship.

I called it the "Bitcoin Legacy" chain because of its bitcoin classic mining to allow growth and the chains heavy divergence from the Satoshi vision. Classic was right there on the front line when the Bitcoin Cash chain started, having the most up-to-date releases 8 releases in 2 months and bitcoin classic mining best and easiest migration strategies for users to bitcoin classic mining their Legacy coin for Cash coin.

Now the market will decide. And that means that Classic has fulfilled its promise. It is now up to you which chain will gain the most traction. It is now up to the next billion people to start to use Bitcoin Cash. In at most 6 months I'm sure we'll just drop the "Cash" and call it "Bitcoin".

People that run Bitcoin Classic are urged to migrate to any of the alternative wallets or nodes. And I am serious about this because the recent versions of Bitcoin Classic will stop following the main chain in a matter of days or weeks. Please don't get caught by surprise.

Bitcoin Classic Closing its doors Bitcoin Bitcoin classic mining was started in early with the clear intention of coming back to the coin that Satoshi indicated as his goal. Bitcoin Cash Classic was right there on the front line when the Bitcoin Cash chain started, having the most up-to-date releases 8 releases in 2 months and the best and easiest bitcoin classic mining strategies bitcoin classic mining users to sell their Legacy bitcoin classic mining for Cash coin.

Tom Zander -- release manager of Bitcoin Classic.

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Bitcoin Classic was one of several forks of the Bitcoin reference implementation Bitcoin Core aiming to increase the transaction processing capacity of Bitcoin by increasing the block size limit. Bitcoin Classic started out as similar to, though less aggressive than, the Bitcoin XT fork, which never managed to get the support it needed. Bitcoin Classic in its first 8 months promoted a single increase of the maximum block size from one megabyte to two megabytes. Bitcoin Classic was also an attempt to move the technical governance of this decentralized and independent Bitcoin project from the developers of the original Bitcoin to a voting process involving a larger community of miners, businesses, developers and users.

On November 10, , Bitcoin Classic ceased operation, declaring that Bitcoin Cash is now the only hope for bitcoin to become scalable. In Bitcoin, transactions are collected into blocks, and each block is produced by the bitcoin network on average every ten minutes. With Bitcoin's current limit of one megabyte, this capacity translates to an estimated average of three transactions per second.

With Bitcoin Classic's proposed doubling of the block size limit to two megabytes, the maximum transaction rate would also roughly double. It is a version of Bitcoin that would allow for a two-megabyte limit.

It appears to be quickly winning support. On November 10, , in the wake of the failure of plans for the hard fork to double the bitcoin block size, Bitcoin Classic ceased operation, declaring that Bitcoin Cash is now the only hope for bitcoin to become scalable.

From Wikipedia, the free encyclopedia. Retrieved April 28, Bitcoin's New Kids on the Blockchain". Retrieved 10 November Retrieved 9 January Retrieved 19 July History Economics Legal status. List of bitcoin companies List of bitcoin organizations List of people in blockchain technology. Retrieved from " https: Bitcoin clients software.

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