I'am getting afraid - bitcoin XT

[RappelzReborn]

I see those last days some little chit-chats speaking about Bitcoin XT ... and since I don't have much knowledge about this new thing .. I'am really getting afraid , can someone confirm if they are just trolling ??
some people say that they can double spend using this XT ? also some others says that there will be another blockchain then BItcoin Core coin will cost like .. nothing? and Bitcoin XT coin will cost a lot ? wtf is the difference aren't they both BTC's ?  

also some bullshit about a signature compaign to advertise the new Blockchain ? tell me those people are trolling  

[ebliever]

I see those last days some little chit-chats speaking about Bitcoin XT ... and since I don't have much knowledge about this new thing .. I'am really getting afraid , can someone confirm if they are just trolling ??
some people say that they can double spend using this XT ? also some others says that there will be another blockchain then BItcoin Core coin will cost like .. nothing? and Bitcoin XT coin will cost a lot ? wtf is the difference aren't they both BTC's ? 

Ignore the gibberish. It's not a threat, there's no "cost" (rather, the contrary if nothing is done), and don't worry about double-spending. A few people are just hating on Bitcoin XT because of Gavin's proposal to use it to gain consensus for an update to raise block size limits to 20 MB.

[Coinster]

You don't have to worry about it as Gavin's proposal happens in stages. It's like taking a vote to move to each stage. If the votes always fall short then nothing happens. If there is a majority of approval that's when there could be a change, but since the majority of users approve pretty much everybody will be using the same thing.

[Buffer Overflow]

also some bullshit about a signature compaign to advertise the new Blockchain ? tell me those people are trolling  

There is currently no new blockchain.

[Meuh6879]

i prefer the debug.log system ... when 51 blocks rise the new branch : message is displayed on the bitcoin core.

https://bitcointalk.org/index.php?topic=946136.0

Code:

// strMiscWarning is read by GetWarnings(), called by Qt and the JSON-RPC code to warn the user:
strMiscWarning = _("Warning: This version is obsolete, upgrade required!");
CAlert::Notify(strMiscWarning, true);
fWarned = true;

[Coinster]

This is what people need to remember, I think when we do fork we should all be very aware of it's happening and it should be like a flip of a switch.

IE: @ 8/1/15 1:00 AM GMT ALL MAJOR WALLETS WILL UPGRADE, THIS WILL BE A REQUIREMENT .....

This is what I mean. Gavin's proposal is for people to actively download and run a software version signaling support for the change. If a majority of people do this (mainly merchants) then everybody will be basically on the same page already. Anybody running older versions after the changeover block would then need to upgrade but their coins would still be valid once they did.

[RappelzReborn]

You don't have to worry about it as Gavin's proposal happens in stages. It's like taking a vote to move to each stage. If the votes always fall short then nothing happens. If there is a majority of approval that's when there could be a change, but since the majority of users approve pretty much everybody will be using the same thing.

Who are those people who need to vote ? the Bitcoin foundation or basically somehow the users of Bitcoin ?

[Coinster]

Who are those people who need to vote ? the Bitcoin foundation or basically somehow the users of Bitcoin ?

The users of Bitcoin. This is defined as people running full nodes. A full node is client software that actively makes up the network by validating and relaying transactions and blocks. Some full nodes, called miners, also create new blocks.

To change Bitcoin, these users that make up the network need to change. That's where the decentralization comes from.

[Amph]

You don't have to worry about it as Gavin's proposal happens in stages. It's like taking a vote to move to each stage. If the votes always fall short then nothing happens. If there is a majority of approval that's when there could be a change, but since the majority of users approve pretty much everybody will be using the same thing.

Who are those people who need to vote ? the Bitcoin foundation or basically somehow the users of Bitcoin ?

consensus is given by the nodes of the client, if more will run the xt version, then that will be choosen, otherwise we stay with core

[Pecunia non olet]

You've  been listening to the Gavin-bots, OP.
Truth is: XT is a altcoin shitcoin ... basically an attack on Bitcoin.
Just stick to core (don't even need to do a thing like updateing to some obscure software) because core will be the winning chain cuz it has the better devs, more money behind it, all of asia behind it and is more defensible.
XT is mambo jambo and will die pretty fast.

[RappelzReborn]

Who are those people who need to vote ? the Bitcoin foundation or basically somehow the users of Bitcoin ?

The users of Bitcoin. This is defined as people running full nodes. A full node is client software that actively makes up the network by validating and relaying transactions and blocks. Some full nodes, called miners, also create new blocks.

To change Bitcoin, these users that make up the network need to change. That's where the decentralization comes from.

You don't have to worry about it as Gavin's proposal happens in stages. It's like taking a vote to move to each stage. If the votes always fall short then nothing happens. If there is a majority of approval that's when there could be a change, but since the majority of users approve pretty much everybody will be using the same thing.

Who are those people who need to vote ? the Bitcoin foundation or basically somehow the users of Bitcoin ?

consensus is given by the nodes of the client, if more will run the xt version, then that will be choosen, otherwise we stay with core

Oh well  , I'am running a full node too I didn't knew what you meant at the begginig .
I thought it's just some powerful people who can vote at those stuff , well I don't think there is enough people who are using XT for now , I don't even see a difference to be honest , at least not a big one that makes people switch . thanks for your help guys feels better now . (less paranoid and afraid )

[juju]

Not afraid of Bitcoin XT, however its a shame Mike and Gavin are even trying to label it with a different name. Bitcoin layman will assume the state of things are really bad, and that the people invested in Bitcoin are going to be scammed out of wealth etc. etc. I would be surprised if we did not see a number of large sell offs soon and its going to be attributed too peoples misunderstanding of us working towards consensus on a Blocksize.

Price will plummet once the media has a chance to 'learn' about Bitcoin XT and report on it. In the past the media has put forth zero effort towards researching articles on Bitcoin, typically I have seen them as the largest sources of FUD and impact on the relative price.

Your concerns are valid, however my beliefs are that it is placed in the wrong boat, you should be concerned about the media backlash by not understanding whats going on that will occur sooner than later. The technology/coins are not going to just vanish magically, when in doubt WWSD. What would Satoshi Do: in this case Nothing, his coins are still valid and yours will be valid regardless if agreement on Blocksize is: 1mb, 4mb, 20mb, or 32GB per block.

My fear is if we become so centralized, that we get to a situation where we have someone or something choose which transactions to allow in blocks. My fear is someday someone can take away our rights to use Bitcoin the way it works today...we cant allow for this to occur.

[Pecunia non olet]

Not afraid of Bitcoin XT, however its a shame Mike and Gavin are even trying to label it with a different name. Bitcoin layman will assume the state of things are really bad, and that the people invested in Bitcoin are going to be scammed out of wealth etc. etc. I would be surprised if we did not see a number of large sell offs soon and its going to be attributed too peoples misunderstanding of us working towards consensus on a Blocksize.

Price will plummet once the media has a chance to 'learn' about Bitcoin XT and report on it. In the past the media has put forth zero effort towards researching articles on Bitcoin, typically I have seen them as the largest sources of FUD and impact on the relative price.

Your concerns are valid, however my beliefs are that it is placed in the wrong boat, you should be concerned about the media backlash by not understanding whats going on that will occur sooner than later. The technology/coins are not going to just vanish magically, when in doubt WWSD. What would Satoshi Do: in this case Nothing, his coins are still valid and yours will be valid regardless if agreement on Blocksize is: 1mb, 4mb, 20mb, or 32GB per block.

My fear is if we become so centralized, that we get to a situation where we have someone or something choose which transactions to allow in blocks. My fear is someday someone can take away our rights to use Bitcoin the way it works today...we cant allow for this to occur.

The Gavin announcement without a comment section didn't look like "working toward a consensus".

@OP Litecoin should be safe like other high profile alts. Just avoid BTC for the time being if you are unsure. Most people do the same and speculators are also going to speculate more on alts now. This thing should be settled within a year.
Until halving it's just bleeding all day long anyways.

[Elwar]

You are scared because you don't understand something?

Do you know an easy way to get rid of that fear?

Don't only rely on other people to look into things for you, the best way to find the truth is on your own.

[Pecunia non olet]

You are scared because you don't understand something?

Do you know an easy way to get rid of that fear?

Don't only rely on other people to look into things for you, the best way to find the truth is on your own.

First time EVER i agree with a comment of Elwar. Incredible!

Get educated noob, make educated decisions not based on others' opinions but based on own knowledge.

[NorrisK]

I think its better to chance now than at a point where many more users need to change over..

Try to read up, there are some good threads around that explain everything.

[ebliever]

You are scared because you don't understand something?

Do you know an easy way to get rid of that fear?

Don't only rely on other people to look into things for you, the best way to find the truth is on your own.

First time EVER i agree with a comment of Elwar. Incredible!

Get educated noob, make educated decisions not based on others' opinions but based on own knowledge.

Do you have any idea how hypocritical that sounds, the way you've been trying to panic everyone into hating on Gavin and his proposal with highly emotional and inflammatory postings (not to mention the vulgarity)?  Yes, people should investigate and come to their own conclusions, hopefully based on reason and not someone else's shouting.

[gogxmagog]

right now bitcoin XT is just a client. There will be no fork until there is consensus. It is not Gavin alone making this happen.
the XT client is available to test bugs etc.
when the fork comes it will change nothing on the users end. It is not an alt-coin.

I was confused at first too, but there's nothing to worry about. I would be more worried if we exceeded maximum block size. Then bitcoin would quickly become useless/worthless and we would all be hooped.

relax, let the devs deal with it. If you wont do this your only alternatives are; sell all your btc and get out, or, learn coding and become a dev yourself.

good luck.

[marcus_of_augustus]

everybody should be very wary about the bitcoin XT code on github. Even if you think you know bitcoin code well.

https://github.com/bitcoinxt/bitcoinxt

It is NOT a verifiable git fork of bitcoin Core code, even though it goes to lengths on front page to emphasise that it is 'based' on Core (mentions Core 4 times). XT authors have chosen to have their own git root for whatever reasons but it means there cannot be a verifiable git rebase and commit diff between Core and XT. The differences in crypto can be very subtle but very important, especially if 'bug fixes' have been rolled back.

Be careful what you wish for, dyodd.