The current trends in the Bitcoin show that while progress is slow, its constantly building momentum. Last week, Andreas Antonopoulos went before the Canadian Senate and gave an amazing 2 hour talk, this week Gavin Andresen went to Reddit and gave amazing answers.

The public comments period for the New York Department of Financial Services (NYDFS) regulatory proposal BitLicense have ended and numerous heavyweights in the Bitcoin community and Internet free-speech have weighed in including BitPay, Coinbase, Reddit, the Internet Archive, and the Electronic Frontier Foundation (EFF).

Gavin Andresen, Chief Scientist at the Bitcoin Foundation, Reddit AMA

Yesterday, Gavin Andresen, notably the best-known Bitcoin Core developer and Chief Scientist at the Bitcoin Foundation, participated in a Reddit AMA (Ask Me Anything). AMAs are a proud tradition on Reddit that allow experts, celebrities, politicians, etc. a chance to speak their mind to a multitude of people and have their thoughts recorded.

As of writing, Andresens AMA has reached 931 comments and he has actively participated in a large number of threads.

When asked what would be needed for Andresen to believe Bitcoin is established, he replied, We need regulatory clarity, ease of use, and no-single-point-of-failure security. The world is still waking up to Bitcoin and its effectsalthough business is slowly tuning inits going to be more regulatory questions like New Yorks infamous Bitlicense.

On the subject of the increasing value of individual Bitcoins (currently at $388) he showed a favor for speaking more often of Bits, or millionths of a Bitcoin. A Bit, as a result, would be $0.000388 approximately, meaning 100 Bits would be about 4 cents.

Apparently, he changed his name from Bell (his birth surname) to Andresen because his wife did not want to be known as Michele Bell.

Overall, reading Andresens responses to questions shows a solid foundation of a programmer who is passionate about Bitcoin. He sounds forthright, thoughtful, and knowledgeable and at the same time extremely sanguine about the future of Bitcoin itself.

If this sparks a readers interest, many could do worse than to peruse the comments in the AMA and pick out Andresens responses. CoinDesk has also picked out what they feel are the 12 best answers from his AMA.

Originally posted here:

Bitcoin Weekly 2014 October 22: Gavin Andresen Reddit AMA, Bitcoin community vs. NYDFS BitLicense, and more