Cryptocurrency

Brave New Coin Survey Shows Bitcoin Holders Want Scalable Blocks, Less Centralized Decision Making

Brave New Coin polled Bitcoin users today about the block size question that's consumed the community for months. The survey tilted toward American respondents, and most bought Bitcoin as an investmen

By James Gray··2 min read
Brave New Coin Survey Shows Bitcoin Holders Want Scalable Blocks, Less Centralized Decision Making

Key Points

  • Brave New Coin polled Bitcoin users today about the block size question that's consumed the community for months.
  • The survey tilted toward American respondents, and most bought Bitcoin as an investmen

Brave New Coin polled Bitcoin users today about the block size question that's consumed the community for months. The survey tilted toward American respondents, and most bought Bitcoin as an investment rather than launching companies or operating mines. Within those constraints, the data shows clear patterns.

When asked how the block size should change, 52.8% of respondents said it should scale based on actual network demand. Asked when the limit should rise, 54.8% answered that developers should deploy a scaling system now to allow indefinite expansion. Three-quarters of those surveyed believed miners should control the decision, with 46% wanting 75% miner approval and 29% wanting 90%.

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The community's view of how Bitcoin Core decides on improvements was darker. Some 43.7% called the current voting process too centralized, compared to 36.5% who disagreed. Most rejected the status quo. Only 2.8% said Bitcoin should maintain its 1MB block size forever. Even fewer had no position at all.

Gavin Andresen's BIP101 proposal performed best. Respondents supported the technical change but not his idea of a benevolent dictator controlling Bitcoin's development. That skepticism tracked with their complaint about centralization. When asked which improvements they supported, BIP101 and Bitcoin XT received 50% combined. Bitcoin XT bundles BIP101 with less contentious upgrades. If XT gained dominance, control would shift from lead developer Wladimir van der Laan to Mike Hearn. BIP101 itself could be adopted without XT. Jeff Garzik's BIP100 alternative captured 23.4% support.

The survey's American lean and small sample size mean nothing here is conclusive. But Brave New Coin reached the voices excluded from Bitcoin's technical debates: ordinary holders and traders. These people come closest to what the broader public wants from Bitcoin. Community leaders considering mainstream adoption should listen.

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