2010 currency designated as the Chief money manager Gavin Andresen said the founder, in accordance with developments continue to decline, coins will appear early next year, serious problems. He played during the coins value speed up "core maintainer" role after stepping down last year, he is still actively involved in related work.
In his view, the transaction's delay is becoming more and more serious, system of coins now worth 3.3 billion dollars, driven people to leave along with the continuous depreciation of the value, it may eventually die out.
Andresen failure prediction stems from the fact that bitcoin transactions cannot handle more than 7 times per second. Compared to similar to the Visa payment system capable of tens of thousands of transactions per second, bitcoin handling capacity was too small, he expects this restriction would weaken the currency in early 2016.
Andresen solution also caused an uproar in the crowd, especially those using coins or people who work for it. He no longer and maintain the currency code developers, published his own solution coins known as BitcoinXT – a software alternative to, and encourage community users to switch to the software.
If, after January 11, 2016, 75% users have adopted this solution, it will trigger a two-week grace period, and improved capacity of higher blockchain. Critics believe that this is the future of playing with coins; Andresen said this was necessary to prevent monetary stifle its own way. Following is the MIT Technology Review interview with Andresen.
Bitcoin limited turnover rate how serious is the problem?
This is a matter of urgency. Throughout bitcoin network volumes, we need to solve this problem within the next four or five months. As we get closer and closer to trading limits, bad things will happen. Network capacity will become overcrowded and unreliable. If you want reliability, it must pay higher fees in the deal, but high fees to get people to stop using bitcoin. Hello Kitty Note 4 Case
Why take such a controversial move, releases new version of bitcoins?
This is a difficult decision. The past eight months I have been lobbied hard behind the scenes, even the developers also agreed that this is a real problem. Now, we have done this thing, and I think people finally realized my idea, this is a matter of high priority. I think from a long-term perspective, it would be a good thing.
Major currency company have agreed to what you propose ways to increase block, some users also use BitcoinXT. There are other companies and major currency developers criticized your actions, and propose alternative solutions. Not all people who support you. Why is that?
This is a bit confusing. There is no clear method to arrive at decisions on modified coins, that is not a correct answer can solve this problem. Quite confusing, there is no Central Committee, no one can for the coins to make these decisions, it needs to run the software of unanimous consensus.
Do you think we can reach an agreement?
It is obvious that block maximum will be increased. However, I don't know how much, or exactly when increased. I think it is not yet clear, my proposal will allow users and all other ecosystems have sufficient consensus.
If no measures are taken, what's supposed to happen?
Trading would be unreliable, as time goes on it will get worse. My worry is that there is no serious incident will bring to people's attention – leading to currency slow death. I tried to ring the alarm, "if we don't do this, coins will be dead within four years. "But when there are so many controversies, no one accepts the idea.
If the BitcoinXT starts, it admitted that the existing coins, but does not admit that people without the conversion system of new coins from, it would be dangerous?
No one will be abandoned. When bitcoins core software see 50% have been upgraded, and you're not, then it will upgrade warnings to you. And converted the economic incentive will very strongly--you definitely want their currency and others.
How is bitcoin development?
It is firmly planted in several niche areas, and continues to grow. Early use cases is that people use bitcoin transactions with international contractors, because it's easier than US dollars into local currencies. Bitcoin main obstacles to mainstream, is to make it as part of your normal life in some way, let coins to be payment of income, but don't know how it became mainstream. I think, in those with abnormal banking system or payroll system places bitcoin can lead into the mainstream.
But don't invest your life savings on the coins. It is still a pilot project, it may still fail.
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