Some of these days a lot of Bitcoin community ranging from Indonesia asked exactly what Bitcoin XT either through facebook, chat and whatsapp it randomly. Actually this is one of the topics that I most wanted to avoid to discuss but maybe it is already time for open discussion rather than later even no thought Bitcoin XT was altcoin or scam
To begin to discuss the Bitcoin XT we have to realize one thing:
Bitcoin is a Beta program
What is the beta? It means that the program has not been completed and are being tested. Who testers try it? Yes we-we are being tested through the millions of dollars. Bitcoin currently has a market cap of 3.4 billion dollars from the test results worldwide.
As well as a beta program from time to time found many disadvantages and should continue to be refined as well as Bitcoin
Typically for centralized programs (such as windows that I'm wearing this) to issue a new version is quite easy. Namely developers just create a new version and asks and requires all its members to update its Windows version with windows update for example.
But not so for the decentralized software such as Bitcoin. Because of its open source and decentralized so that everyone can participate participation of other members contributing code and check whether the code is safe and well developed further. Then the majority (75%) have to approve the changes, especially the miners and nodes. The new changes can be implemented.
At first minor software update that is certainly not invite much debate but it is not uncommon commotion when wanting to be updated is the major / large.
Currently Bitcoin now wants to be updated for big things by a group of developer team led by Gavin Anderson is the problem of block size and double prevention mechanisms spend but not all developers agree. This discussion has been running for months without any results.
Why is there a developer who disagree raising block size?
feel the legacy Satoshi and not want to change (sentimental developer)
feel there are other solutions besides problems block size grew in size to overcome the problem of spam.
if the block size was brought up then blockchain size will be very large (currently has tens of GB)
when the block size then the transaction raised so more smoothly so that the transfer fee could be 0 back does not have 0.0002 as recently happened so revenues decreased miner
reason lain2nya
There are still many other reasons, the hobby of reading can open the following link problem why YES and NO: https: //en.bitcoin.it/wiki/Block_size_limit_controversy
Well after many months of discussion is too long to make a lot of developers into two sides: the Core Team and Team Bitcoin Bitcoin XT
Bitcoin Core Team hope no changes in the software so as now only bitcoin.
Team XT hope to raise Bitcoin Bitcoin Block Size and change the mechanism in a double spendingnya to immediately update the existing system. Team XT Bitcoin Bitcoin is supported by many figures like eg Gavin Anderson and Mike Hearn.
Normally there are no major problems in performing a software update but because this time too many who have opinions and do not succumb to pass each other like a couple of days of this event, and I think will continue until clear who is the winner.
What is the mechanism of this XT Bitcoin?
Currently bitcoin Bitcoin xt exactly the same as the Core, they use the same blockchain, bitcoin same. Only double-spend ways of handling different. For those who support them asking Node Bitcoin XT and XT Bitcoin Miner uses software that bitcoin network Bitcoin user know how big the Core VS XT. Who want to monitor can be viewed at the following link: http: //xtnodes.com/
If the miners and nodes as much as 75% in the end declared the use of Bitcoin XT then considered Bitcoin user community agrees to enlargement Block Size and perform branching on bitcoin software to enlarge Block sizenya. If it is not up to 75% it is considered only as a supplement Bitcoin XT from Bitcoin Core - nothing has changed.
That's one beauty of decentralization software - users choose the best. Similar electoral huh?
It is inconvenient but it is one of the advantages Bitcoin all made open and involved in changes to the software.
What I personally?
I personally quite pro with Bitcoin XT but I prefer putting the company Bitcoin.co.id as an observer at this point. We wait and see. Bitcoin.co.id current is a small fraction of the community Bitcoin ecosystem. More wisely so that we become a follower at this level and follow where the winds blow and the community to ensure our members have always been winners this election and join battle :)
To begin to discuss the Bitcoin XT we have to realize one thing:
Bitcoin is a Beta program
What is the beta? It means that the program has not been completed and are being tested. Who testers try it? Yes we-we are being tested through the millions of dollars. Bitcoin currently has a market cap of 3.4 billion dollars from the test results worldwide.
As well as a beta program from time to time found many disadvantages and should continue to be refined as well as Bitcoin
Typically for centralized programs (such as windows that I'm wearing this) to issue a new version is quite easy. Namely developers just create a new version and asks and requires all its members to update its Windows version with windows update for example.
But not so for the decentralized software such as Bitcoin. Because of its open source and decentralized so that everyone can participate participation of other members contributing code and check whether the code is safe and well developed further. Then the majority (75%) have to approve the changes, especially the miners and nodes. The new changes can be implemented.
At first minor software update that is certainly not invite much debate but it is not uncommon commotion when wanting to be updated is the major / large.
Currently Bitcoin now wants to be updated for big things by a group of developer team led by Gavin Anderson is the problem of block size and double prevention mechanisms spend but not all developers agree. This discussion has been running for months without any results.
Why is there a developer who disagree raising block size?
feel the legacy Satoshi and not want to change (sentimental developer)
feel there are other solutions besides problems block size grew in size to overcome the problem of spam.
if the block size was brought up then blockchain size will be very large (currently has tens of GB)
when the block size then the transaction raised so more smoothly so that the transfer fee could be 0 back does not have 0.0002 as recently happened so revenues decreased miner
reason lain2nya
There are still many other reasons, the hobby of reading can open the following link problem why YES and NO: https: //en.bitcoin.it/wiki/Block_size_limit_controversy
Well after many months of discussion is too long to make a lot of developers into two sides: the Core Team and Team Bitcoin Bitcoin XT
Bitcoin Core Team hope no changes in the software so as now only bitcoin.
Team XT hope to raise Bitcoin Bitcoin Block Size and change the mechanism in a double spendingnya to immediately update the existing system. Team XT Bitcoin Bitcoin is supported by many figures like eg Gavin Anderson and Mike Hearn.
Normally there are no major problems in performing a software update but because this time too many who have opinions and do not succumb to pass each other like a couple of days of this event, and I think will continue until clear who is the winner.
What is the mechanism of this XT Bitcoin?
Currently bitcoin Bitcoin xt exactly the same as the Core, they use the same blockchain, bitcoin same. Only double-spend ways of handling different. For those who support them asking Node Bitcoin XT and XT Bitcoin Miner uses software that bitcoin network Bitcoin user know how big the Core VS XT. Who want to monitor can be viewed at the following link: http: //xtnodes.com/
If the miners and nodes as much as 75% in the end declared the use of Bitcoin XT then considered Bitcoin user community agrees to enlargement Block Size and perform branching on bitcoin software to enlarge Block sizenya. If it is not up to 75% it is considered only as a supplement Bitcoin XT from Bitcoin Core - nothing has changed.
That's one beauty of decentralization software - users choose the best. Similar electoral huh?
It is inconvenient but it is one of the advantages Bitcoin all made open and involved in changes to the software.
What I personally?
I personally quite pro with Bitcoin XT but I prefer putting the company Bitcoin.co.id as an observer at this point. We wait and see. Bitcoin.co.id current is a small fraction of the community Bitcoin ecosystem. More wisely so that we become a follower at this level and follow where the winds blow and the community to ensure our members have always been winners this election and join battle :)
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