Bitcoin Forum
April 27, 2024, 09:07:17 AM *
News: Latest Bitcoin Core release: 27.0 [Torrent]
 
   Home   Help Search Login Register More  
Pages: [1]
  Print  
Author Topic: #ELI5 what is bitcointx  (Read 427 times)
coinzat (OP)
Sr. Member
****
Offline Offline

Activity: 434
Merit: 250


Young but I'm not that bold


View Profile
December 28, 2015, 12:28:29 AM
 #1

As I asked in the title .

Explain like I'm 5 , what is bitcoinxt ?
Why it may affect the price and what is the different between it and bitcoin !

PS. I'm not a geek so please be simple Cheesy
1714208837
Hero Member
*
Offline Offline

Posts: 1714208837

View Profile Personal Message (Offline)

Ignore
1714208837
Reply with quote  #2

1714208837
Report to moderator
1714208837
Hero Member
*
Offline Offline

Posts: 1714208837

View Profile Personal Message (Offline)

Ignore
1714208837
Reply with quote  #2

1714208837
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
1714208837
Hero Member
*
Offline Offline

Posts: 1714208837

View Profile Personal Message (Offline)

Ignore
1714208837
Reply with quote  #2

1714208837
Report to moderator
achow101
Staff
Legendary
*
Offline Offline

Activity: 3374
Merit: 6535


Just writing some code


View Profile WWW
December 28, 2015, 12:41:39 AM
 #2

Bitcoin XT is a client which implements BIP101 (see https://github.com/bitcoin/bips/blob/master/bip-0101.mediawiki). It will fork the blockchain to allow larger block sizes, and the maximum block size will increase on a fixed schedule, from 8 Mb to 8 Gb over the course of 20 years. Many people are opposed to it, and many also support it. It has caused a split within the community.

The author of Bitcoin XT has previously stated that he would force the fork to occur without consensus. This is problematic because without consensus we would have two blockchains, and because that author has decided to take (near) dictatorial power over Bitcoin. Two blockchains can cause a loss of confidence and thus a drop in brice. There are also a whole host of other issues since they would be operating on the same network.

coinzat (OP)
Sr. Member
****
Offline Offline

Activity: 434
Merit: 250


Young but I'm not that bold


View Profile
December 28, 2015, 12:52:33 PM
 #3

Bitcoin XT is a client which implements BIP101 (see https://github.com/bitcoin/bips/blob/master/bip-0101.mediawiki). It will fork the blockchain to allow larger block sizes, and the maximum block size will increase on a fixed schedule, from 8 Mb to 8 Gb over the course of 20 years. Many people are opposed to it, and many also support it. It has caused a split within the community.

The author of Bitcoin XT has previously stated that he would force the fork to occur without consensus. This is problematic because without consensus we would have two blockchains, and because that author has decided to take (near) dictatorial power over Bitcoin. Two blockchains can cause a loss of confidence and thus a drop in brice. There are also a whole host of other issues since they would be operating on the same network.
Now I understand the situation much better.
So it is also related to block size debates
It sounds like a an endless contravention matter, and it is difficult to gather the community upon one view.
Thanks for your explanation Cheesy
Pages: [1]
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!