Latest BTC problem for newbs

[biodieselchris]

Since i can't post on the technical board I thought I'd start a thread here.

Summary of latest advice for casual (non-miner) BTC users:

If you are using BTC 0.8, switch back to 0.7 and wait this ting out before making any transactions.

Interesting to note a t MTGox BTC buyers don't seem to really care. The price is holding $45 with little problem....
http://bitcoincharts.com/charts/mtgoxUSD#rg1ztgSzm1g10zm2g25zv

[asas63]

There's something wrong with the wallet? If you could explain the problem and why i should change versions? That would be much appreciated.

[Lubliana]

I join the question, what is going on ?

[deepceleron]

This is incorrect advice. Users do not need to do anything now that the fork is resolved. Their current version of Bitcoin will work just fine. The only action needed was for a handful of mining pools to change their software to promote the desired version of the blockchain (and disable the creation of huge blocks).

[asas63]

False alarm folks...

[Ivica]

tl;dr OP is wrong, if you are not miner - you don't have to do a single thing. Chill. Also problem was resolved in 25 blocks, ~4 hours.

[biodieselchris]

with that resolved now we can move to discussion to why this happened and what that means for the confidence in bitcoin.

[BTC Books]

with that resolved now we can move to discussion to why this happened and what that means for the confidence in bitcoin.

What it means is that the more you know about how bitcoin works, the greater your confidence.  So - as there are certainly plenty of people out there who have no clue - there will be FUD in the days ahead.

The blockchain is a graceful thing, even under stress.  Yesterday's events served to highlight that fact.

Relax.

When 0.8.1 comes out, do the upgrade.