Re: [ANN]Vertcoin- 1 ASIC - 0- Lyra2REv2- Decentralised-GPU Mineable-Open Source

"Please update wallets immediately to avoid losing coins"

I don't understand this part. It's a softfork right?
Are people really losing coins or is it just something to say to make people update?

If that's it, haha pretty creative I guess.

I think it's just hyperbole to get people to update, but maybe miners could get screwed if they don't update?

miners will not be forked off of the network. Segwit uses BIP9 versionbits

Well with wrong code they hard forked their coin the last time.
Everyone had to downgrade.

So I'm asking, is this the Segwit with wrong code & just hardfork because YOLO or is it a cool marketing stunt?

Well after we reach the 75% threshold the new rules will activate and old version blocks will start to be orphaned, so there is a danger of coin loss if you don't upgrade your wallet. This is the release with the correct code.

Softfork means it is backwards compatible with old wallets. So are we hardforking (not compatible with old wallets) instead of softfork now?

Old wallets will continue to sync with the chain and be able to issue transactions but newly generated blocks coming from old wallets (ie blocks with nVersion 4 or less) will no longer be accepted as valid after activation. This is the same behavior as Bitcoin/Litecoin.

But Bitcoin/Litecoin don't advertise with upgrade now otherwise you will loose coins.
What you are saying in ELI5: It is not mandatory to upgrade but recommended. Except for the solo miners and pools.
Normal users (non miners) won't be generating new blocks hence they can stay on old wallets. Why do you give them the suggestion that they will loose coins?