This gets implemented on the 1st of August, so for anyone using bitcoin please get upto speed with this. This can cause some issues for a short period of time after activation, but any issue can be avoided if you understand what's happening. here is some good info for the BIP 148 soft fork. https://www.reddit.com/r/Bitcoin/comments/6dfz0y/bip_148_the_beginners_guide_to_a_user_activated/ https://segwit.org/user-activated-soft-forks-the-bip-148-alternative-28e87ffdb76f
I did find it amusing that the guys big alt-coin tip was PIVX....but then when he was asked what made it different from DASH....he couldn't even answer the question and seemed to backtrack. The reddit thread is a great read. I hadn't really understood the technical side of BIP148 before, but I think I have a good understanding of it now. Thanks heaps.
haha yea it was funny to see him choke when he was asked what the different was, he was made to look like a real idiot. Even more funny was after telling people to buy PIVX he said he wasn't going to put money into it. yea i found the Reddit page to be informative.
From another thread :- Looks like I might not have been too far off. Bitmain has declared that it is going to make a User Activated Hard Fork just after BIP148 goes into effect, which would effectively split Bitcoin. https://themerkle.com/what-is-the-user-activated-hard-fork/
what to do? more everything into Ethereum or keep it in Bitcoin (locally) and get bitcoin credit on both chain versions after the split?
I wish I knew. It all looks a bit jittery and unstable at the moment. The ETH chart looks like a triple top.... I liquidated a chunk just before the last big sell and need to take the weekend off. The UAHF needs a fair bit more research into it, but if it turns out to be a permanent split and BU gets a run on the Bitmain fork then thats where I'll be prowling if it looks feasable (and not too centralised). The BIP148 is just another SegWit to me so technically not that different to Litecoin and we can all see that SegWit on Litecoin was all hype - people buying up before implementation and then doing next to sweet FA afterward. If BU gets a run then I'd rather buy into DASH or PIVX as the transactional option and if Bitcoin is blowing it's first mover advantage with this split then those coins might get a serious look in. Certainly the governance model and communities of DASH and PIVX are miles ahead of Bitcoin even if people have doubts on the tech. But who knows. August 1 is a long time away. I might change my mind a dozen times before then
A few things I've been reading up about UAHF :- https://blog.bitmain.com/en/uahf-contingency-plan-uasf-bip148/ http://www.coindesk.com/game-of-blu...tcoin-scaling-becomes-digital-missile-crisis/ https://bitcoinmagazine.com/articles/bitmain-responds-uasf-another-hard-fork-announcement/ Some are clearly biased, but as with anything the truth lies somewhere in between.
This is an interesting one discussing scenarios :- https://medium.com/@jimmysong/uasf-bip148-scenarios-and-game-theory-9530336d953e I think the likeliest ones (in order) are :- 1. Miners Permanently Fork - The safest option for the miners and possibly the most ethical option. It prevents any wipeout and the Bitcoin factions can go their separate ways relatively amicably. 2. SegWit2x Activates before Aug 1 - This is listed as "Miners Capitulate" but I don't agree it's a capitulation, I think it is more of a "peace deal". It's more a preemptive move to compromise that makes BIP148 unnecessary. SegWit2x is basically what Bitmain is pushing for with its UAHF anyway. Question is whether it can get enough signalling support before Aug 1. 3. Users have Minimal Hash Rate - Basically the UASF doesn't get enough support and is a failure. Bitmain decides the UAHF is not necessary and never goes public with its chain. Bitcoin remains a single coin but the scalability impasse remains. I think if the factions start actively attacking each others chains and trying to cause disruption or wipe outs then they will probably kill the goose that laid the golden egg in the process. It really would take some small petty minds to play those scenarios out and I don't think the commercial interests involved would be that stupid.
This should be only possible if you have exported the priv key from your public adresses. Also have them on your own wallet and not on exchanges.
I think option #2 above has now become the most likely scenario. Talk is that SegWit2x will be signalling from July 21 with a goal of being active before July 31. It needs an 80% threshold but from my understanding is basically just a SegWit soft fork and with support of the Chinese miners I think it looks likely to get up. The SegWit2x proposal includes a later hard fork to increase block size which may or may not be another issue down the road, but for now it looks like SegWit gets in and we kick the can on block size for a bit. If I'm right then BIP148 UASF dies in the cradle, there is no chain split and the market will respond very bullishly in the medium term once all this is realised and confidence returns. From a technical analysis angle, I also am more confident with the chart. There have been a couple of sell-offs over the last week or 2 but the big ones had strong volume at the lows and the sell-offs have become weaker and less frequent in the last few days. I think the price is consolidating around 2500-2600, which is a very good thing.
I gotta admit with all the dishonest people in the crypto world trying to deceive and manipulate people specially noobs to their benefit it's nice to see someone actually giving their honest opinion
Thanks. I appreciate that. I've been on this site for nearly 2 years now and I think that's the nicest thing anyone has said about me
It's interesting how money seems to moving/staying into bitcoin at a time everyone thought it would be moving out of bitcoin. Bitcoin's dominance is almost 50% and growing.
Sentiment is a strange beast. I think the recent mania bubble initially got popped by concern over UASF BIP 148, but now that it's wobbly it isn't taking much to cause sell-offs. Yet IMHO the developments of SegWit2x have reduced the chance of a major coin fork/split, so things should be on the improve......but sentiment is dented and all those ignorant speculators who flooded the crypto space without understanding it are the same ones now panicking and flaking out. I am still optimistic this is just a bit of a shake-out and come late July (when SegWit2x should be getting 85% signalling support) things will bounce. But who knows. 10 days is a long time and the technicals on the bitcoin chart are looking ugly. We might yet crash before then!
I guess I'm less optimistic then you, as SegWit2x will only bring Bitcoin back to acceptable levels (for now). It's just kicking the can down the road a bit. I've started looking into IOTA and i think their idea seems to be the right direction, though i must admit i still don't fully understand it yet in detail. Blockchain is fundamentally flawed when running at large scale and I think the blockchain idea will die off in time. Though at least DASH is dealing with it the best way, they are going to insist master nodes have a minimum hardware spec and internet connection in order to handle processing and blockchains. So they want to make it a bit more centralised and governed, as this is the only way if using blockchains.
Oh Fucking dear... Seriously ? You think the Blockchain 'Idea' will die off in time ? Sorry but this a clear cut case of an Individual "Not actually knowing what the fuck they are on about" FULL STOP. Leo have you actually bothered to wonder what it actually is at all, even in the myopic world you apparently live in ? I mean, for fuck's sake man, you seem to be able to use the internet at least. You just, I cant, you just out Gumped forest Gump in my book.h....l You obviously have ZERO understanding at all of what a Blockchain actually is at all. So my question is, why the fuck you would bother to post an opinion about something you obviously know sweet fuck all about ?
you need to relax. how old are you, like 16? Just because you think you understand something doesn't mean you do. Trust me my understand of the blockchain is much greater then yours. I've come across many people like you in my life that think they know it all, so set in your belief that you will attach anyone the questions it. Its pathetic. Now i never said cryptos will die off, just the concept of the blockchain. Go and look at the concept of IOTA.
So if Blockchain as a tech is supposed to die off, why would IOTA be planning for it's 'concept' to run along side it and communicate with the chain ? You might also want to look at the inherent problems with node to node on offer long term , as opposed to the network that Blockchain offers for verification. Iota is a cool idea, but do they actually have anything operational at all for now ? (One of your own pet bugs with everything else it seems). The tangle might work if it gets to scale itself, but it first needs to get there and if it is not taken up in scale then how does it hope to encourage actual humans to embrace it's use ? Scale-ability issues on blockchain are being dealt with, and you would be hard pressed to find a better option than ETH for now, the major problem is Bitcoins alone at the moment when it comes to that. As for My age ? well thankyou , I will have to remember that the next time I see my grandchild. Your problem is that you are blinded by negativity, and are looking for anything at all to discount the many opportunity's present to people by tramping around like a noxious Elmer Fud yelling BE VEWY VEWY CAREFUL ! Sure, be careful with your hard earned as you can lose it quite easily, but Really ? You think the Blockchain will die off in time so that is reason to stay clear, It is Fundamentally flawed, yet there is close to a Billion dollars invested already and .Gov's, Bank's, and Major Corporations worldwide are clambering to get aboard as we type. Delaware just passed laws to allow Blockchain stock trades, Japan just accepted BTC as a Legal Tender, the Tech aspect is growing each and every day with the uptake of the Blockchain offerering new solutions and cutting the red tape of business and commerce.... But ignore all that and any opportunity that you might make a shekel or two here or there right ? History will tell who is right or wrong here Leo, but unlike yourself I am one who is ready to at least take a chance, and instead of looking for a negative under each and every stone or log I can find one, I choose to look for the opportunity's offered. Iota may well get there, but it's fundamental flaw is that it is built for machines, not people.
This is a pretty good flowchart showing the possibilities and timelines. Credit to the guys from reddit (see image footer) I'd probably tweak it a bit and use proper symbols and colours to make it a bit clearer, but really that's just nitpicking. All the relevant info is there
