Bitcoin Difficulty Increases 8.77%, Pools Raise Concerns About Sanity

Mining difficulty increased 8.77 percent in spite of a move of questionable wisdom for theatres purporting decentralization, individuals claiming a hashpower supermajority (archived) centralized upon one stage to remind us of their inability (archived) to think independently:

Multiple miners expressed willingness to follow another solution if it had consensus, and asked for simplicity and ease of deployment… one miner says the core developers understand the system — let them come up with a solution, and the miners will support it. He goes on to say the core developers shouldn't ask the miners to decide. The core developers should decide.

Illustrating this sad state is the breakneck pace of BIP65 deployment: whereas the BIP34 and BIP66 softforks took 38,2701 and 21,7472 blocks, respectively, the recently activated3 BIP65 fork is likely to complete within seven thousand blocks.

  1. The earliest "v2" block, at height 189,565, was seen on 2012-07-17; the last "v1" block, at height 227,835, claims 2013-03-24. 

  2. The earliest "v3" block, at height 341,942, was seen on 2015-02-04; the last "v2" block, at height 363,689, was seen on 2015-07-03. 

  3. At the time of this writing, 24.1% of recent blocks claimed "v3", leaving SPV miners under a week to claim "v4" or join XT 

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