Topic: Gavin announcement explanation please. - page 3. (Read 2695 times)

I'm a little confused too.
All I really give a shit about is if my coins are safe in cold storage & if they'll lose value because of this crack pot / dick measuring venture.
Anybody explain this in layman's terms about what it means for current bitcoin owners / hodlers & the price / validity of them.
I don't care about blocks sizes, forks etc etc.
Bitcoin is a long term investment for me I don't need to know the techie science stuff.
All that matters to me is the price & that my coins will still be valid.

Or on the new fork depending on which one makes it ...

Everything you said is inaccurate. The reason there is a debate is because there are a lot of people on both sides of the blocksize increase, Gavin is not even close to being alone on wanting to increase the limit. He does not want to be the one to make the call on what happens. If you haven't watched a recent Q&A with Gavin and Mike you should, they specifically discuss the blocksize issue at the 27 minute mark https://youtu.be/RIafZXRDH7w?t=27m50s
Also no one is going to lose any coins unless you are a miner receive block rewards and you start mining on the "wrong/old" fork.

lol this looks like a sinking ship where those who are tech savvy are the staff and the non tech savvy are the confused passengers getting lost on what to do and which way to go to exit the ship.

Hi guys,

My skills go as far as downloading a wallet and moving coins about.

With this in mind.....

Can someone explain what Gavin is planning to do and how definite it all is?

Side chains etc? Double coins? Wtf?


Thanks in advance.

What do other people think?


If we can't come to an agreement soon, then I'll ask for help
reviewing/submitting patches to Mike's Bitcoin-Xt project that implement a
big increase now that grows over time so we may never have to go through
all this rancor and debate again.

I'll then ask for help lobbying the merchant services and exchanges and
hosted wallet companies and other bitcoind-using-infrastructure companies
(and anybody who agrees with me that we need bigger blocks sooner rather
than later) to run Bitcoin-Xt instead of Bitcoin Core, and state that they
are running it. We'll be able to see uptake on the network by monitoring
client versions.

Perhaps by the time that happens there will be consensus bigger blocks are
needed sooner rather than later; if so, great! The early deployment will
just serve as early testing, and all of the software already deployed will
ready for bigger blocks.

But if there is still no consensus among developers but the "bigger blocks
now" movement is successful, I'll ask for help getting big miners to do the
same, and use the soft-fork block version voting mechanism to (hopefully)
get a majority and then a super-majority willing to produce bigger blocks.
The purpose of that process is to prove to any doubters that they'd better
start supporting bigger blocks or they'll be left behind, and to give them
a chance to upgrade before that happens.


Because if we can't come to consensus here, the ultimate authority for
determining consensus is what code the majority of merchants and exchanges
and miners are running.


--
--
Gavin Andresen

good answer. how many people have bitcoins? maybe some 1 million? how many watch these videos and understand the debate? only a few hundred i guess.
and that is the reason for the FUD  

Everything you said is inaccurate. The reason there is a debate is because there are a lot of people on both sides of the blocksize increase, Gavin is not even close to being alone on wanting to increase the limit. He does not want to be the one to make the call on what happens. If you haven't watched a recent Q&A with Gavin and Mike you should, they specifically discuss the blocksize issue at the 27 minute mark https://youtu.be/RIafZXRDH7w?t=27m50s
Also no one is going to lose any coins unless you are a miner receive block rewards and you start mining on the "wrong/old" fork.

It won't make the slightest bit of difference.

He should make a statement about his plans here clearly explaining everything and giving a specific time frame. That would help quell all the confusion and misinterpretations.

My understanding of Gavin's motive is that the hard fork is purely ego driven. There's no urgency to change block size. He just wants to be dramatic and make his personal mark on it. But controversy, technical-wise, is that some Bitcoin users may have their coins lose compatibility with the new implementation. In a sense, it may be Gavin and Hearn's attempt to hijack the Bitcoin name and implement their own coin or make changes to the protocol.