Bitcoin Forum

UASF is being enforced Segwit is now active and no fork is detected!

So you mean to say that Bitcoin will not split and we can't get Bitcoin Cash or something like this.

Bitcoin Cash is something different and not happening for a few more hours.

To be honest I'm intrigued by all the talk of bitcoin cash, but me personally, I was/am hoping for no fork. I want to have just one form of bitcoin. I would obviously like it to scale so that transactions aren't so laggy and expensive, but I feel that if there are multiple forms of bitcoin, it is going to make the entry barrier even more difficult for the novice. They will have no idea which to buy or what they are buying.

BitmainCash is completely unrelated to bitcoin, segwit and UASF.

http://segwit.co/
Not yet. Soon, yes. But SegWit isn't quite activated (or locked in) yet.
It's gonna happen though, only a matter of time (we already knew that after BIP91 activated).

How so?

My understanding is if miners try to make a non segwit block now a fork would happen; it could happen at any moment but so far so good.

As far as BitmainCash thats just an altcoin. That has nothing to do with the Bitcoin network upgrade.

So regardless of what happens with BitmainCash in about 5 hours we have already succeeded in upgrading the network.  

http://666kb.com/i/dlfcc6pgbbkl74huj.jpg

https://coin.dance

I assume you are a Bitcoin holder, so you will be a BCC holder too in a few hours.
You can support BCC or not, that is your prerogative, but why you want your new coins to be worth as little as possible is a bit strange, and sounds like spite.

If BCC trades at 20% or so, which I find unlikely, I will be overjoyed and sell at least most of my BCC.  If it is dumped and trades at 1%, I will hold.  There is always the chance that Segwit has flaws or that the 2mb blocksize is rejected in a few months, and BCC will become more relevant again.

Just wait for a few more hours for BitcoinCash and we'll see about that.

And the people who support it and not, well what can we say?.
They have the right to choose whichever they want to.

Edit: 6 hours left, huh, until Bitcoin Cash Hardfork.  ::)

It’s only a matter of time before we find out if bitcoin cash can have the support it wishes it had. Sure, there’s potential for it to trade higher than expected, but it can only go as far if there’s ample support / demand for it. If it’s not going to cause anybody any harm, holding bitcoin cash for a while but prove to be beneficial.

Better yet, we made them fork off :).

UASF was a win/win for bitcoin. We activated segwit and we got rid of most of Jihan shills at the same time. Amazing results.

If this mining centralization continues like this, we'll have to bring mining back to home users.

Exactly! and how will the media interpret the fork-coin. Which one is the real BTC for simply buyers? It will raise sooooo many questions.

Yes that was my issue with it at first as well. The fork will certainly cause confusion and media will pick it up for sure. It's unfortunate but I think it will only delay the time before novices start utilizing bitcoin.

Unfortunately the whole point behind BitmainCash was to sucker and scam people. They (Bitmain) can pawn BitmainCash off to Venture capitalist investment financiers of large hedge funds who don't understand what they are buying and lilky would't care even if they did because they only want something that looks good on a 'prospectus' that they can then use to raise even more money.

I expect BCC to be at 5% BTC price withing hours after introduction. I really do not understand how a free coin, which brings absolutely nothing to the table could be worth anything after the initial fuzz. Who will buy this and keep buying it and for what purpose?

Nonense.

Segwit still needs to lock in, will be active at the end of the month.

The purpose of BCC and the longest chain is yet to be decided even though based on the sentiment of the Bitcoin community it might be obvious which team has most support right now. But a few years from now? We are no fortune tellers right?

UASF is active tho so if any miner tries to make a non segwit block at any time a fork would happen. Right?
No block will be allowed to propagate across the network unless its signaling for segwit.  Right?

If I'm wrong on this I'm sorry for spreading miss information but that was my understanding of the situation.

UASF has not been activated. No forks have been detected. So far.

Surely the real test is when someone makes a SegWit transaction and then tries to spend its outputs as if it were a normal transaction. Non-SegWit nodes and miners will accept it, SegWit ones will reject it. Has this happened yet?

We need to find a solution to the mining centralization as soon as possible.

Right now Bitmain controls most of the hash power on bitcoin chain. It looks like we won the war but It may get real ugly when bitmain decides to move its hashpower to bcash.

This is their next move. As soon as they smell the decreasing support levels on the bitcoin chain, they'll slowly shift their hashpower to bcash and give bitcoin a slow death. Decreasing support levels is not what I am worried btw. It is a usual thing, it can rise, it can fall, it is a wave. What I am worried is, bitmain can amplify the move and make it look like bigger than what it is.

We need to get rid of asics. It is already too late I know but we need to do something.

no

Is it likely that BTC price will dump as a result of split?

Well today is the day so lets just wait and find out.

If people dump BCC for BTC and not for fiat BTC should continue to rise in price and not lose any steam past the $3000 mark. Supply and demand rules on each separate chain.

If we have both BTC AND BCC then how likely is that both BTC+BCC=<$2900(Current BTC value)?
 I just want to know if it's better to convert to USD before the fork.

Bitmain might shift their mining resources to BCC and start buying BCC and selling BTC to cover their monthly expenses. Pushing BCC up and BTC down on purpose. Then I think we could have the Double Moon scenario  ;D

Never trust a sleazy miner  8)


BCC and BTC are separate entities. BTC + BCC doesn't automatically equal current BTC price halved after the fork.
What the price of BTC will be after the fork is a gamble.

I hope there's no really split will happen and bitcoin remain as itself.
No bcc will circulate in the market, like I dont really like the idea of it.
And yeah the day has not yet end so better watch as many more news will be release.

We knew this could happen, you knew right? because it's in the core of open source software, we might look at it as a currency but it's still a software, now it's a good time for those non miners to start mining bitcoin, since hashrate will drop but difficulty remains the same but not for a long time, actually I'd say lets not start mining until the difficulty drops by at least 30% and then start your miners to benefit from a low difficulty level for 2 weeks :D

Code BIPxx that automatically limit blocks from miner to X blocks per day. The list should be decentralized.

well it's true fee are now very low, 18k satoshi 226 byte

At the risk of pissing on your parade, UASF was technically obsoleted by the miners activating BIP91 and in turn, shortly BIP141.  The only way UASF can still play a role now is if miners suddenly change their mind and back out at the last second, which I see as being beyond unlikely.  This is categorically in the territory of MASF, not UASF.  

That said, one could certainly argue that the miners wouldn't have activated BIP91 if UASF hadn't put the gun to their heads first, but the sting in the tail is that some of the miners are still looking to support the '2x' part of SegWit2x, which I know not all of you approve of.  Perhaps celebrations now might be premature.  Best to wait 'til November to see for certain.



To be precise, it's ViaBTCCash.  BitmainCoin was only going to launch if UASF had resulted in a split between miners and nodes, but the miners went for SegWit2x and avoided a split (at least until November).  BitcoinCash is a actually a different hardfork to the one Bitmain were proposing, heh.  Bitmain have released a statement on BCC (https://blog.bitmain.com/en/regarding-bitcoin-cash-viabtc-bitcoin-abc/) (but them calling it a UAHF is stupid, because this would clearly be miner activated).  They say they're still focused on SegWit2x for the moment.  Although I suspect they'll be keeping a close eye on BCC to see what happens and they don't rule out the possibility of supporting it later.  Contrary to popular belief, the pools aren't a hive-mind and do have different opinions.

As far as the information I gathered there will be still a BTC split which is BCC/BCH (Bitcoincash). First there will be update to BTC systems then after few hours there will happen the BCC/BCH.

So we are still waiting to determine the actual ramifications of the split?

Yes sir, nothing has happened yet. My popcorn is getting stale.

After fork, how long will exchanges take to update our BCC? Does this procedure take hours?

Important note on the timing of Bitcoin Cash hard fork activation
 
The criterion for activation of the Bitcoin Cash hard fork activation is based on "Median Time Past", or MTP. This means that the chain split will not occur at exactly 12:20 UTC on Aug. 1st, but some time after.
 
MTP is a statistic calculated over 11 blocks, and trails behind wall clock time by about 6 blocks. This means that the last common block will be approximately the 6th block with a timestamp after 12:20pm. The block after that will be different on either chain.
 
Users attempting to split coins, and transact separately on the two networks should be aware of these details in order to properly identify the last common block, and the first post-split block.
 
For specific technical details, please refer to the User Activated Hard Fork specification.

Well of course any mining company can influence the price and hashrate of any coin they want... especially if they run an exchange too (ViaBTC)! But at the end of the day, what will determine the market value of BTC/BCC (or whatever coin) is its UTILITY on the open market. So Core and Lukejr must be shaking in their boots that BCC will be MORE USEFUL because it's not encumbered by blocksize limits and technical debt of Segwit, and thus potentially MORE VALUABLE than BTC.

Economically speaking,, the BTC money supply is essentially doubling, although the BCC tokens will initially be undervalued.  The total market cap for BTC should equal that of BTC+BCC in a few months. This would mean a BTC price drop and BCC price fluctuation.

Obviously in the short term people will be dumping BCC as quickly as they can for either BTC or cash, whichever seems to offer a higher return for minimal effort. My guess would be people initially will be exiting BCC to BTC, since selling BCC for fiat involves Chinese exchanges and Yuan forex markets, etc., except for Chinese people, who are relatively fine with Yuan. I don't see many exchanges offering BCC/BTC other than ViaBTC, but many of the mainstream exchanges will be monetizing BCC when the fork happens.  If exchanges don't offer BCC/BTC monetization, they could essentially steal their users' BCC. Quite a smart move creating that situation on the BCC developers' part.

If and when BCC/alt exchanges start popping up, things will really get interesting!

I'm pretty sure that's been the case since the start of this difficulty period, because BIP 91 is designed to be a method of activating BIP 141 which is also compatible with BIP 148.  

You can see that even though only 87.5% of the blocks have signalled their intention to support SegWitx2, 100% of blocks in this difficulty period have supported BIP 141 (https://coin.dance/blocks), because miners are already rejecting non-SegWit blocks.
UASF has not caused a split.  The split will happen at about midday.

Excellent, we've upgraded without a fork!  Except for the fork... but that doesn't count as a fork because it's a fork, so that fork is now irrelevant as a fork.  So since the only fork is a fork, there are no forks!  Yay!!!

 :D

I think this is a false alarm at this time because going through website would have solve this false alarm at this time when everyone is skeptical of whatever is about to happen. Lets just that everything will work for the benefit of bitcoin while some set are optimistic about the fork happening, others are of the opinion that it should not happen and OP statement has shown the side he belongs to.

That's harsh but I wish so too. I hate it that there is this Bitcoin impostor so I also support the idea.  ;D And honestly I think it is for the common good, for Bitcoin itself, that BitcoinCash will fail. Surely newbies who want to enter the Bitcoin world would now find it confusing which is which.

To be fair, this "alt" has a lot to do with the "network upgrade". Hate to say it, but in an objective view, BBC weren't wrong to refer to them as Bitcoin rebels. Plus, they had to make good on their threats or people would take them even less seriously then they already are.

Segwit not yet realy active.
https://bitcointalk.org/index.php?topic=2044085.0

Not sure what you did considering it is dropping like a mofo, havent seen a red candle like that in quite awhile, 300 in a very short space and dropping, glad i decided to convert to USD :o