Bitcoin Classic is the latest attempt to increase Bitcoin’s block size limit via a hard fork initiated by miners running an alternative to Bitcoin Core, but it appears that the relatively new software client may already be on its last legs. According to various sources familiar with a meeting in Beijing on March 30, supporters of an increase to the Bitcoin block size limit were unable to convince the Chinese mining community to implement BIP (Bitcoin Improvement Proposal) 109 without support from Bitcoin Core contributors.
Bitcoin Core Supporters Not Invited
It was the intention of some participants to convince the Chinese mining community to adopt BIP 109 without the blessing of Bitcoin Core, which would, with support from 75 percent of the network hashrate, lead to an increase in the block size limit to 2 megabytes via a hard fork. The supporters of an increase in the block size limit also discussed a possible crisis that could ensue if the limit was not raised before the upcoming block reward halving.