BITCOIN WILL NOT FORK!
I believe you meant to say will not SPLIT. the fork is happening and all the things you are explaining in your comment is saying it is happening. and with the current 79% of the blocks signaling for BIP91 which is for SegWit activation it is highly possible to have a simple, drama free, smooth fork. exactly like the P2SH soft fork which nobody even remembers because it was smooth
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It would be nice, but from $2,500 to $500,000 in 3 years sounds a bit unrealistic. You wake up one morning and suddenly everyone who owned a Bitcoin is driving a Ferrari LOL it actually isn't that unrealistic. it is hard not unreal. it won't happen overnight for you to wake up and see your super rich, it will take time and a lot of drops. and I assure you not that many will get rich. there will be a lot of newbies who sell at times like last week where there is a dumb FUD and they panic to sell at a big loss. bitcoin has a very limited and small supply that is why it is called scarce. and as it gets more attention and is adopted more, the price rises. it is a very simple relationship between supply and demand. it is like the oldest rule for prices and how they are determined.
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I am a very cautious person by nature and i even worry about things like somebody possibly guessing my seed word correctly. Is this a far remote possibility given such enormous number of possible permutations? Is this essentially as impossible as guessing someones private keys or breaking an aes 256 encryption? I have heard stories like some wallets like Jaxx getting hacked just by hackers cracking the seed words correctly and stealing coins without even having any contact with the owners computer. As i understand, ledgers have seed words too. How are they different from Jaxxs and are they 100% safe?
I'm not sure what the Jaxx problem was (have not read anything about it) but when these old wallets that are tested for many years like electrum or ledger in case it uses seed, are using seeds you can consider them safe because in case there were any bugs they are already found so you can be pretty confident about using them. Jaxx is somewhat new... Thanks. My understanding of the paper wallet is that they are safe when storing but inconvenient and vulnerable when trying to use. For example, i heard one way to use btc paper wallet is by typing in the private keys into a blockchain.info wallet. If your computer is hacked, wouldnt this be a huge risk? This makes me think a hardware wallet is the safest method of storage and usage but still not sure that is foolproof.
paper wallet is for cold storage that you don't want to access every day! for example if you want to become a long term hodler to keep bitcoin for more than a year. also in risks are always in how you use the private key. blockchain.info is one way which is not even good. you can still use an offline setup to do this. here are the steps: 1. choose a method to create an unsigned raw transaction (use core, electrum or even coinb.in website). you only need your bitcoin address for this. 2. download Linux, and burn the ISO on a DVD/DC/USB and then disconnect network and boot into Linux 3. install a wallet that allows you to import keys (nearly all of them). now import your paper wallet key there and sign that unsigned tx. 4. go back online on your main OS and broadcast this. there is a step 0 too which you have to create a new paper wallet in case there is any change (leftover after spending) to send to that new paper wallet address.
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Gud thread. I agree the FUD has to stop. Use this as a buying opportunity to fill your bag hodlall.
haha, FUD is like part and parcel of bitcoin now. and it seems like there is nothing changing that for years to come. you have to be more like Dr. Strangelove: or How I Learned to Stop Worrying and Love FUDI will soon update that thing with the new chart showing this new FUD mania. and it is funny how the last post (screenshot) I made in there was for a split FUD
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an Antivirus and a Firewall and 100 other things can not protect you 100%. all these things will only protect you to some extent. if you want to be safe you need to use COLD STORAGE, use the link the other comment gave you to read more about how to do it.
in your method it doesn't matter if your wallet is constantly on your computer or only goes there for a moment via your USB, if you have a malware designed to steal bitcoins it will steal them.
hardware wallet is the easy way for those who want to spend money. if not, just install a Linux on the same USB disk and make it so it stays always offline and by installing Electrum you will have it as your real cold storage. a fully functioning, portable, offline and encrypted (if you encrypt home folder and electrum wallet) OS containing your wallet. and this can be 100% safe.
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I am keeping them where they belong!
about 2 years ago I did some distribution of funds between stuff that I want to do. here is the general idea: 1. 60% is for hodling long term and it will always be kept in an offline storage. aka paper wallet. 2. 30% is for trading. which I usually end up trading altcoins with not that much of bitcoin/fiat trading! 3. 10% is for spending. I usually buy stuff from the internet, pay for subscriptions, buy cheap gift cards, buy things that are with discount,...
and nothing has changed about any of this so far.
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buy 1 month after August 1 if you want to be in the clear! buy these days if you want to take the biggest risk but the most profit!
what I think is that there won't be any split. there will either be no fork or a smooth fork and that means the signaling will start soon and it will cause a small price rise but it will still fluctuate as the accumulation begins then as we get closer to Aug 1 and things get locked in, price will rise fast.
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SegWit (the original proposal which I believe was BIP141) needs 95% to activate. it is the well thought plan, tested, needs the majority to support it to activate. it has practically no risk of any split or any danger to bitcoin.
BIP148 has no percentage. it is rushed and in my opinion not even well-planned. it is forcing the miners to switch by rejecting their blocks if they are not signalling. it doesn't need much miner support and the higher support it can gain the lower the risk of a split will be. so far it has so little support from miners and there aren't that many nodes running it either.
SegWit2x needs 80% support to activate SegWit, I believe they are going to use the same version bit for signaling and this means if SegWit2x gains the support it needs BIP148 won't do anything because it sees the blocks as signaling what it wants. the support is so far between 85-90% but it is only in their text that they include in the coinbase transaction. they have to start with the version bit. which I think will start on 21st.
True but segwit2x if I recall correctly will also include a 2MB fork that will be done some months later, that to me is not the way to solve the issue of scaling bitcoin but it seems that no one is willing to compromise. yeah, well you can not expect the scaling debate that has been going on for a couple of years to be solved that easily with a simply activation on a set date. I am afraid the drama will stay with us for a very long time. possibly even 1 or 2 more years. and I agree that sometimes it seems like nobody is willing to compromise.
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http://coinmarketcap.com/As high as 29% on some CryptoCurrency just today alone. BTC dropping? I always say what goes up too quickly will drop just as fast. BTC is not stable at all from the chart on the last 30 days. From $2800 to $1850 low today? Poor guy too anyone who had 100 BTC. Just lost $100k in the last 30 days. ~G~ this topic made me smile a lot for many reasons. first of all what the hell is an online coin secondly I was always saying when bitcoin drops, altcoins are crushed and now we can see it clear as day how they are dropping hard, each of them has dropped more than 70%. I saw one with a 96% drop today on bittrex! finally I have to say someone who has 100 BTC has not bought it on $2900 he has bought it at $10 and he is either trading it actively and not holding so your "lost $XXX" theory is wrong. or he will be holding it until future where price is 10,000$ again your theory of lost ... is wrong.
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SegWit (the original proposal which I believe was BIP141) needs 95% to activate. it is the well thought plan, tested, needs the majority to support it to activate. it has practically no risk of any split or any danger to bitcoin.
BIP148 has no percentage. it is rushed and in my opinion not even well-planned. it is forcing the miners to switch by rejecting their blocks if they are not signalling. it doesn't need much miner support and the higher support it can gain the lower the risk of a split will be. so far it has so little support from miners and there aren't that many nodes running it either.
SegWit2x needs 80% support to activate SegWit, I believe they are going to use the same version bit for signaling and this means if SegWit2x gains the support it needs BIP148 won't do anything because it sees the blocks as signaling what it wants. the support is so far between 85-90% but it is only in their text that they include in the coinbase transaction. they have to start with the version bit. which I think will start on 21st.
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today things are getting very interesting actually in bitcoin market. many traders always said below $2000 is hard and not going to hold and it is a good opportunity to buy. and today I keep seeing the same thing in topics like this and other comments also.
the interesting part is seeing how it will last below $2000 and how many are actually acting on it and buying BTC at this price.
I am also mostly interested to see how things in the following weeks turn out to be like. when in 5 days the SegWit real signaling starts and we can see if the real >90% support is going to signal or not. and how that will affect price.
... this is history in the making and we are witnessing it first hand. this is not the first time this type of trend happened and it won't be the last one either
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ah, the FUD, the panic sells, the shorters, all the annoyance is true if you look at the glass half empty. this is all a game to many who are trying to make more money from bitcoin. the games they play with the price and the scaling is just a toy that we gave them. soon this game will end when we get SegWit activated and they will start playing a different game when there is a sharp green candle seen on the charts when price shoots up just because everyone finally figures out the mistakes they have made to fall for the game.
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I've seen you ask this multiple times, and still are asking the same thing. your first mistake was getting greedy. I see from your other topic you kept dreaming of $3000. instead you should have cashed out some and kept the rest. your second mistake is asking random people on the internet instead of doing your own research. and also from the responds you received so far it seems to me like you only chose to listen to those who said it will rise instead of others. now here is what I say. price may rise or it may fall. it is up to you to decide how much risk you want to take. if you sell now price may go up and break $3000 and reach $5000 by the end of this year. if you don't sell price may fall and reach $1500 by the end of this year. all we know is that the current drop down to $2000 is because of a fear of split. we also know that nobody wants a split, not the investors, not the miners, not the services, nobody wants it. we also know that SegWit has a very high support these days (above 90% in total). we also know it will be activated one way or another in August. the BIP148 despite all the drama is forcing the hands of the miners. and with a high support the risk of a split is nearly zero.
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it is because you sold at the bottom not on top. when you sell after all the dumps happened and price reached a very low price, then obviously you start feeling like a sinking ship and feel obligations to post what you feel on this forum too. I feel your pain man. you should be nervous when the price you sold at is only 1-2% higher than the current market price.
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This is speculation worthy, move it there if you know how, if price drops below $1950 I'd sell everything if I paid more to buy them before and would wait 2 more weeks to buy some cheap coins at probably $1300. I'd be selling and cashing all my assets and buy Bitcoin at low prices, simply because it has the potential to pass $2800 2 months from now. safest thing to do now is to sell. but if you are rich enough and could afford to lose whatever you have invested then hold like Satoshi.
safest thing to do would have been to sell when price was still high. the dumbest thing always is to sell after the price has fallen and reached a bottom. lets forget about everything else and only look at numbers. price has fallen from $2900+ to $2000 and you have not yet sold. do you honestly think it is a good idea to sell now at the lowest price! it doesn't seem like a good plan to me. why have to held this long anyways and what changed. the reasons why you held in the previous $900 drop still exists and for the same reason you should hold. and I doubt that price can go up to $2800 anytime soon in case it drops to very low prices like $1300. in which case a lot of money will go out and stay out.
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thanks for the link, I did not know that about UASF supports. also the link you gave about Schnorr signature didn't help me understand how SegWit prevents spam attack but SegWit2x does not. so I need more information than that
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could you clarify a couple of things you said here for me: Looking at the track record of Segwit2x developers, I would not be amazed if something huge gets exploited if it succeeds.
SegWit2x ( btc1) and bitcoin ( bitcoin) share many contributors. replace the author with the names of those contributed to first one. it also has J. Garzik who has been a bitcoin core developer for many years. developers aside, the code is the clone of bitcoin core version 13 which had SegWit and it is activating the same SegWit. are you saying SegWit code is flawed and exploitable or bitcoin core version 13 is . and note that the part about "2x" or the 2 MB hard fork is not for 6 months after the activation of SegWit... The UASF solution seem to have more solid developers, but it lacks the miner support.
an who are these more solid developers? I have so far seen no good plan for BIP148 except a rushed crappy plan with an extremely high risk of chain split. and I have seen only one developer support it passionately on reddit. no other person than LukeJr! other developers are either against it or have not said much. I remember reading the early days what Gmaxwell said in the mailing list about how he is not supporting it and how it is rushed compered to original SegWit plan. If Segwit2x succeeds, we will see everything dominated by miner decisions and if you look at the way that they exploited users with high fees, then the future does not look too bright. how come?!! it is still the same SegWit with only a future plan to do a hard fork to increase the base block size to 2 MB and what does the "spam attack" have anything to do with SegWit?
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There was half a year of only price rises. What did you expect to happen?
A good healthy correction was much needed to get a new solid floor again. I would prefer eternal rises as well, but that is not how markets work. As long as the year long trends remain upwards, I have no problem with it. Its my retirement plan, not drive a lambo this year plan.
it wasn't really "all rise" if you look at the charts you can clearly see all the dips (short term corrections) happening all the way to the top. for example price went up $100 and dropped $30 and then went up and .... also a good healthy correction was the first drop down from the ATH of nearly $3000 down to around $2100 and then stabilizing the price above $2450. that was the real correction. and the $2400 should have been the bottom of the correction. what we are seeing now is the panic sell, it has nothing to do with the rise nor the correction of it. it is all fear of the split because of UASF! and all the rest of the FUD that is flying around.
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The drop is because bitcoin is useless..
if bitcoin was really useless or if you really thought that you would never even sign up on a "bitcoin" forum and never have visited and posted on a "bitcoin" section of the "bitcoin" forum. and so far you have spent more that a year on this "useless" thing.
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There will be no fork.
UASF is user-activated, you need a modified version of QT, which is the wallet most people use to store BTC in their computers. A very small minority uses this modified version. So it will crash if activates. This is the one that will be activated in August 1, but few people are saying it depends on you, the user, to happen. Since most users dont know about this, it will not happen.
BIP148 is the original SegWit, I guess. But SegWit2x have more support, it's near 95%. If it reaches that, BIP148 needs to be abandoned per rules of consensus. Date for SegWit2x activation would be 21st July. If it wont reach 95%, nothing will happen, and BIP148 will keep pushing until someone reaches 95% consensus.
No fork, just a bunch of whales selling everything and generating FUD with fake news.
Maybe this is the last time they can do that. Maybe big money from companies will pour after SegWit activation, who knows? That's the reason why this time is falling so much as to become a bear market.
True, BIP148 is a way of activating original SegWit. the support for SegWit2x is about 90% last time I checked. and it only needs 85% support for activation and the 95% was for the original SegWit. which means it is already above that needed threshold. if you are looking for the exact bottom to buy at, maybe waiting can be a good idea. but a better idea would be buying something at the very least. for example buy 25% of what you want to buy soon and then wait to see if it goes below $2000 or not. if you wait and it doesn't go that low you will be kicking yourself.
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