Bitcoin Core Network Hashrate Dips Below 80%

Intriguing things are taking place in the world of Bitcoin mining these days. It appears the hashrate of Bitcoin Core mining pools is dropping to an all-time low, as it dipped below the 80% mark for the first time While this does not automatically mean Bitcoin Unlimited will become the go-to solution overnight, it goes to show things are getting quite exciting as of late. Unfortunately, the /r/Bitcoin subreddit did not take kindly to people pointing out how the Core hashrate is dropping.

Bitcoin Core Mining Support Is Dipping

As soon as someone posted the new Bitcoin Core hashrate dip on Reddit, the post was flagged and removed rather quickly. It is not the first time censorship rears its ugly head on /r/Bitcoin, even though /r/BTC is not without blemish either. Despite the post being upvotes at a 100% rate, moderators quickly flagged it as spam, making sure no one else would see it without knowing the direct link.

It is anybody’s guess as to why the /r/Bitcoin moderators would take such drastic action, as this information is vital to everyone in the Bitcoin ecosystem. It does not mean Bitcoin Core is no longer the leading solution, yet it does show support for Bitcoin Unlimited seems to be growing. More importantly, this change seems to indicate activating Segregated Witness support becomes far less likely.

The Bitcoin Unlimited community is rather pleased with this news, even though there is still a very long way to go before it can become the “dominant” blockchain. The community remains divided on how Bitcoin should scale, and Bitcoin unlimited raises some valid points. At the same time, Bitcoin Core supports feel Segregated Witness is the only solution that matters. Different points of view are positive, yet it remains up to the mining community to decide how things will evolve.

Rest assured the diminishing Bitcoin Core hashrate will create a lot of arguments among Bitcoin enthusiasts. Bitcoin Core and Bitcoin Unlimited community members rarely see eye to eye when it comes to discussing the future of bitcoin in general. Tempers tend to flare quite often, and there will be some mudslinging over the next few days. That will not change the situation we are currently in, though, that much is certain.

Header image courtesy of Shutterstock