NewsBTC: Despite being a famous company in Bitcoin space, you have remained quite calm on Bitcoin block size issue? How do you see the current scenario?
Gavin: My view on this is very different to that of Brian Armstrong. I believe that, providing the timetable is maintained, the proposal by the core developers to introduce Segregated Witness followed by a blocksize increase in 2017 after extensive testing is the correct approach.
Brian Armstrong’s view is based on how his company uses bitcoin. They need to complete a large number of what can be very small transactions. He is less concerned about bitcoin as a store of value, for him it’s all about the transaction fee. His willingness to propose rapid change, with what I and many others consider inadequate time for testing might keep transaction throughput cheap and efficient, but I feel is imprudent.
First Global Credit, on the other hand, is striving to build a capital market around digital currencies in general and bitcoin in particular. Therefore, we prefer an approach that ensures the hard fork is carefully tested and adequate time