Led 12

Coinbase Reinstated On Bitcoin.org Website

Source: bitcoin

Coinbase Reinstated On Bitcoin.org Website

There has been a lot of controversy surrounding the ongoing Bitcoin block size debate and the stance taken by major companies active in the digital currency world. After Coinbase had announced they were officially supporting Bitcoin XT – which is technically a fork of Bitcoin – the company was removed from Bitcoin.org as a listed Bitcoin exchange novice users should check out. But by the look of things, that decision has been reserved.

Also read: Charlie Lee Opens Up About Coinbase Shift Debit Card

Coinbase Returns On Bitcoin.org

It goes without saying the whole debacle regarding the Bitcoin scalability issue, and Bitcoin XT client has been going for far too long already. Anyone who dared to express their opinion on the matter was greeted with skepticism, derogatory remarks, and deleted comments on Reddit. For some companies openly supporting Bitcoin XT, their services ended up being removed from Bitcoin.org for the time being.

Coinbase was one of the companies affected by this distracting aspect of the Bitcoin ecosystem, as their public support for Bitcoin XT got their listing on Bitcoin.org removed not too long ago. The Bitcoin community was not amused by this decision, as the Coinbase exchange and wallet service is of great value to the digital currency world.

However, a recent commit was posted on GitHub to revert this decision, and get Coinbase reinstated on the Bitcoin.org website. After a public outpouring of support for the company, there was no other option than agree with the majority of the Bitcoin community. As a result, Coinbase is now once again listed on the website under the “web” services.

Theymos, who manages Bitcoin.org, stated the following:

“I think that Coinbase has gone above and beyond on this hardfork issue, so while they’re probably worse than some Web wallets like GreenAddress, I tend to think now that they’re at least not significantly worse than Circle. So while these sorts of Bitcoin banks are allowed, I’m OK with reinstating Coinbase.”

Brian Armstrong’s Clarification Swayed A Lot of Minds

After the original Coinbase announcement regarding them supporting Bitcoin XT, company CEO Brian Armstrong took to Reddit and explained a few things. One of the most important clarifications came in the form of expressing how Coinbase will always support the longest valid Bitcoin blockchain. By saying valid, Brian Armstrong refers to the blockchain with the economic majority.

It is good to see how the Bitcoin community came together to rectify this situation before things had gotten out of hand any further. Splitting the community and developers into separate camps is not what Bitcoin should be about, and we can only hope a final resolution to the block size debate will come sooner rather than later.

What are your thoughts on this reinstatement on Bitcoin.org? Is it the right decision? Let us know in the comments below!

Source; Github

Images courtesy of Coinbase, Shutterstock, Brian Armstrong

The post Coinbase Reinstated On Bitcoin.org Website appeared first on Bitcoinist.net.

Coinbase Reinstated On Bitcoin.org Website

Pro 29

Coinbase Tests Bitcoin XT, Gets Removed From Bitcoin.org

Source: bitcoin

Bitcoin XT

According to CEO Brian Armstrong, Coinbase is now running the new version of Bitcoin software, Bitcoin-XT, a move which has divided the Bitcoin community in the past few days. The company is merely experimenting with the software, it stresses; however, this has inspired much contentiousness on online Bitcoin forums, including being removed from Bitcoin.org. 

Also read: Samsung Pay Bringing More Competition to Bitcoin by Enabling Online Shopping in 2016

His announcement — which is pending a blog post on Coinbase — has caused much debate among Bitcoin players. Many questions were asked of Armstrong on Twitter, Armstrong cleared some things up:

People are much divided on what implementation of Bitcoin to use, and there has been much debate, including a Scaling Bitcoin conference, dedicated to the updating (or not) of the Bitcoin protocol due to its current limitations of 1MB per block size.

Many people believe Bitcoin should be some sort of global currency, and towards that end, the current implementation of Bitcoin does not process enough transactions per block — which take approximately ten minutes to create — to power a modern economy.

Coinbase, one of the largest Bitcoin companies on the planet, has chosen to run the new Bitcoin core, which uses BIP101, as an experiment. Many companies have pledged support inside the Bitcoin space as proponents of the XT implementation.

Founded in June 2012, Coinbase earned a May 2013 Series A of $5 million USD. In December 2013, the company received US $25 million investment led by venture capital firms Andreessen Horowitz, Union Square Ventures and Ribbit Capital. The company formed partnerships with Overstock, Dell, Expedia, Dish Network, Time Inc and Wikipedia before receiving $75 million investment including New York Stock Exchange.

Coinbase is a major influence in the Bitcoin sphere and this move could have reverberations through the Fintech space.

Upon making the announcement, Coinbase was removed from Bitcoin.org.

The debates, which cropped up over the weekend, will likely cause the Bitcoin community to reach conclusions quicker about what future protocol of Bitcoin should be used, and now Coinbase is at the center of that debate.

What do you think about Coinbase’s removal from Bitcoin.org? Let us know in the comments below!

Featured image courtesy of Coinbase


The post Coinbase Tests Bitcoin XT, Gets Removed From Bitcoin.org appeared first on Bitcoinist.net.

Coinbase Tests Bitcoin XT, Gets Removed From Bitcoin.org