question

[Alley]

I just switched to xt.  20mb block is needed.

[Bit_Happy]

I get too much contradicting info from all angles. I am selling guys, you can all suck a monkeydick.

The info in (the first few posts of) this topic is not "contradicting", and it is great news. Glad to see this will be resolved in the near future. 

[virtualx]

Would you support a Global currency, if one person had 100% control over the final decision making at Core development level?

bitcoin holders have no say in either development or voting
bitcoin node operators have true voting power but still no say over development

Let's see if the node operators vote for XT

At the bitcoin core development level there is nobody with a 100% control. If the miners do not accept the changes the developers can do nothing about it. Bitcoin holders still hold a lot of power, they could easily trade for an alt.

[zebedee]

All you guys who are so sure this fork is the way to go need to start putting your money where your mouth is. Right now the odds are 12 to 1 against, so there is a decent chunk of change to be made here. Plus, I'm sure if the yes side gets some action, it will be matched rather quickly.

Beware hidden referral link.  Loser.

[gustav]

I found this 3 minute video helpful to get more clarity.

Recommended:
https://www.youtube.com/watch?v=cZp7UGgBR0I

[gustav]

My guess... The block size in Bitcoin XT will have the block size soft capped to it's maximum setting.

Not necessarily. Gavin has stated he wanted to keep the 750K soft limit a few times.
I just asked him on Twitter for confirmation. Will update when he replies.

He never will come around to reply to anything anymore. He drowns in a shitstorm currently. All the shitstorm happening @gavinandresen

[colinistheman]

So you're forking now the network at an unknown time and date with a simple maority?

It is not a simple majority, it will be a super-majority (>90%) of all nodes run Bitcoin XT or something that supports the larger blocks. Once that happens, there will be an announcement for when and which block will be the block that hard forks, so it is not random and people will know that it is coming.

Backing-up his comment about super-majority for the change:

http://www.reddit.com/r/Bitcoin/comments/3947ck/multiple_polls_results_regarding_bitcoin/

[blablaace]

So we just give 100% decision making power to one person in the Bitcoin XT fork? {That is what he suggested} What if this person become a dictator? They have the key to the kingdom and they control your money?

Gavin Andresen handed the keys to Wladimir J. van der Laan and Mike Hearn and some other people, feel Wladimir is not strong enough to make big decisions. {They want a dictator style lead developer, who has the final say} To remedy this, they create Bitcoin XT and forced a situation with the whole 20mb block fiasco. {They say.. We will see if Wladimir makes a dicision, IF NOT we will go ahead with XT}

Do we want people, who make decisions like that?

Many countries do not trust Bitcoin, based on it's western dominance in the core development. They supported it to a degree, because the decision making was done with some sort of democratic consensus.

The question : Would you support a Global currency, if one person had 100% control over the final decision making at Core development level?

Yes, the nodes is still decentralized, but the software they host, is in control of one or two people.... with 100% decision making power.

His answer : If you are not a engineer or a core developer, you have no say or opinion on the matter... WTF? We all have opinions.. right or wrong.. It's our money and we have a say. 

I agree 100% ... the software is centralized even if the nodes are decentral.  Too much decision making power rests with the core devs. This is the biggest problem with bitcoin

[johnyj]

I guess XT is a pilot project by Gavin and Mike to test their support rate, but the way of voting is useless, someone could easily setup hundreds or thousands of nodes with either core or XT clients and affect the vote result

Vote is not a solution for bitcoin. Consensus is based on general understanding and facts, currently too many talks, no facts. I suggest this article

https://tradeblock.com/blog/bitcoin-network-capacity-analysis-part-4-simulating-practical-capacity

I guess majority of people that have serious investment in bitcoin ecosystem will take a "wait and see" approach, hold on to the universal wisdom in IT projects: "If it ain't broke, don't fix it". From the simulation time line, we have at least 6 months before we see some major slowdown in transactions, and even if we reached that stage, a more conservative approach like 4MB blocks might be adopted: When people are facing future financial uncertainty, they tends to reduce the risk exposure

[Q7]

Think it's about time this gets implemented. The more it get dragged on the more insecurity arising from speculation and the fudsters are obviously having a good time spreading lies to fulfill their agenda. People generally would not take in or accept a change unless the see the results so if we don't start right now then when? However to imply that its a do or die mission is kinda of misleading and i hope to see this getting applied asap.

[LiteCoinGuy]

Litecoin to the moon!!!

yes, but only with Bitcoin - because they are brothers.  


Bitcoin XT? Great! lets go folks!

[Kprawn]

It frustrates me to the point where I want to say... F#$% it!

You have the strangest scenario here...

The protocol has been doing fine... They have been managing bottle necks on the fly... Tweaking small things here and there.. Now suddenly the block size is a mayor issue.

Then Mike says.. And b.t.w we have this side-chain thingy with all the solutions, if Wladimir does not want to play by our rules. We want these changes in Bitcoin Core, but it does not seem like Wladimir wants to take decisions... So we will force a fork to do this anyways. 

When we do fork, and you follow our little side-chain, we will have better control and we can make the hard decisions for you, trust us. 

Very coincidental indeed? 

[Lauda]

Download current and future versions of Bitcoin XT here: https://github.com/bitcoinxt/bitcoinxt/releases/

Use this site to track Bitcoin XT node adoption: http://www.xtnodes.com   (100 nodes and counting. The number of XT nodes was only about 50 a week ago, and about 25 the week before that. So it is increasing quite quickly, and the block-size change hasn't even been released yet. It's promising.)

common misconception: "20MB is too big of a jump"
answer: It's just a maximum block-size limit. It does not mean we are going to instantly start making 20mb blocks. Blocks will continue growing at their current pace. This is perhaps the biggest misconception that we will somehow suddenly start seeing 20mb blocks just because the limit is raised.

Well this thread is more useful than most that were made in regards to XT. This is going to inform people that XT is rolling out (even though I found out a few days earlier via reddit).
I do have a question though.
What is preventing someone from making 20 MB blocks? If we factor in the current fees since 0.10.2 such blocks shouldn't be too expensive for one to make?

[BitcoiNaked]

Where can i buy Bitcoin XT?

[Realpra]

Where can i buy Bitcoin XT?

Its not an altcoin. If you have Bitcoin then you also have "Bitcoin XT"

IF there is a big controversy and split in the eco system merchants might require that your TX is accepted on both chains for a while, but ultimately the chain with bigger blocks will win.

[BitcoiNaked]

Where can i buy Bitcoin XT?

Its not an altcoin. If you have Bitcoin then you also have "Bitcoin XT"

IF there is a big controversy and split in the eco system merchants might require that your TX is accepted on both chains for a while, but ultimately the chain with bigger blocks will win.

Do i need to download the XT version to possess Bitcoin XT (depending whether i have bitcoins in the core version)? and can i not sell the XT bitcoins while holding the Bitcoin core bitcoins? And last thing is there a possibility that XT and Core will have different prices?

[Soros Shorts]

Where can i buy Bitcoin XT?

Its not an altcoin. If you have Bitcoin then you also have "Bitcoin XT"

IF there is a big controversy and split in the eco system merchants might require that your TX is accepted on both chains for a while, but ultimately the chain with bigger blocks will win.

Do i need to download the XT version to possess Bitcoin XT (depending whether i have bitcoins in the core version)? and can i not sell the XT bitcoins while holding the Bitcoin core bitcoins? And last thing is there a possibility that XT and Core will have different prices?

Whatever coins you have before the fork you will get an equal number in the individual Core and XT forks, IF the fork were indeed to happen. You don't need to run an XT Client before the fork for this to happen. I would imagine that XT and Core would quickly end up having vastly different prices, with one of them approaching 0.

[Lauda]

Do i need to download the XT version to possess Bitcoin XT (depending whether i have bitcoins in the core version)? and can i not sell the XT bitcoins while holding the Bitcoin core bitcoins? And last thing is there a possibility that XT and Core will have different prices?

Whatever coins you have before the fork you will get an equal number in the individual Core and XT forks, IF the fork were indeed to happen. You don't need to run an XT Client before the fork for this to happen. I would imagine that XT and Core would quickly end up having vastly different prices, with one of them approaching 0.

You just have to install XT later and copy over your wallet if I understood it correctly. The process is simple and if we fork you're going to have double money.
Some people are actually liking the idea of forking because of the potential to sell twice.

[CIYAM]

You just have to install XT later and copy over your wallet if I understood it correctly. The process is simple and if we fork you're going to have double money.
Some people are actually liking the idea of forking because of the potential to sell twice.

Seriously - you are still repeating this?

No-one is going to be "doubling their money".

[BayAreaCoins]

Its not an altcoin. If you have Bitcoin then you also have "Bitcoin XT"

"Bitcoin XT" absolutely is a altcoin.

Honestly, I don't even understand why this topic hasn't been moved to the altcoin section...

If you had Bitcoin, Litecoin or Dogecoin on May 12th, 2014 you also have CLAMS.  That doesn't make it "Bitcoin".