First Global Credit CEO Gavin Smith on Bitcoin and Future Trading

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.

Bitcoin, blockchain

Bitcoin, blockchain

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

Read more ... source: TheBitcoinNews

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