Bitcoin Fork Soon? Core Blocks Dip Below 90% As Unlimited Takes Off

Bitcoin Unlimited takes off as Core blocks mined drop below 90% for the first time, indicating that Bitcoin may be forked, increasing the block size limit.
Attempts to raise the block size limit have been made in the past, the latest of which before Unlimited, Bitcoin Classic, reached 70 blocks per 1,000 at its height before slowly declining. This month, Bitcoin Unlimited, which would allow the block size to be increased, took off, fast approaching 10% of Bitcoin blocks mined per thousand. Added to Classic’s roughly 30 (and declining) blocks and Core’s block share has dipped below 880. That degree of momentum could signal that a hard fork is on the way soon.
Jose Rodriguez, vice president for payments of Bitso, sees an eventual increase in Bitcoin’s block size as necessary to the network’s expansion if it ever seeks mainstream adoption on a wide scale:
‘Ideally the block size should increase to scale and be able to surpass American Express, Mastercard and Visa in number of financial transactions processed. Visa is currently the leader with 71 bln transactions in 2015 according to it’s 2015 annual report. Thats over 1.3 mln transactions every 10 minutes to place it in perspective versus Bitcoin.’

This post was published at Coin Telegraph on 2016-10-16.