you guys are funny. exchanges aren't going to support bip148 because they would be forking themselves from the main chain.
I think smart exchanges are going to list both, because there's a lot of exchange fees to be taken from all people selling bitcoinA for bitcoinB and vice versa. They've learned their lesson with ETC/ETH. However, this is going to be one big replay-attack cluster fuck, because the split starts as a soft fork ; it is not going to be easy to separate both types of transactions. Actually, exchanges are in a better position to separate them than individual users are, because exchanges could easily get their hands on coins of coinbase transactions on one prong or another, while individual users can't really, and it is the only way to avoid replays. Replay protection is not even needed because this is a soft fork, unless the suicidal BUcoin which wanted to do this without replay attack. If the split happens then services that aren't ready by listing both coins are effectively scamming you from your share. It's like a company splits into two, two different shares now exist, and they only give you 1 part. |
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Code will be relased on the 16th.
Which nobody will run unless its Core-dev supported. Enjoy running your shitcoin software, can't wait for the first exploits to happen. You are an idiot if you believe anyone is going to support this shit unless it's Core approved. You might be forgetting 95% of the network trusts Core software only. ps: Jihan Wu buying 100000 amazon servers to run nodes doesn't count. |
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We will provably hit $3000, but UASF is around the corner, so if we manage to get segwit already and kill Jihan Wu, or get some sort of agreement where we can all do this peacefully, we will hit $10,000 somewhere around 2018-2020
It depends on how good the next 3 months go.
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...Most support Segwit because it would reduce transaction fees...
Can we, please, stop peddling that myth? Why is that a myth? In the short term, Segwit would almost surely reduce fees, with >2x the capacity of the old 1MB chain. Or what do you mean? Do you really think most users are caring about the details about Segwit? They want Bitcoin to work, period. If you call min 5$ rip-off fee per transaction or from 20 hours to infinite hours of delay as "working", then yes it is working. (not as intended™) You didn't get my point. Segwit+2MB solves the transaction fee problem the same way than SegwitUASF does, at least in the short term. Transaction fees with Segwit2x would even be smaller in the mid-term if after an hypothetical UASF there is no 2MB adjustment in one or another way. That's why I don't think your assumption that the majority users are insisting on "Segwit alone" and are against "Segwit2x", is true. The majority support Segwit, that's clear for me, and not the BU approach. But the details - bit 1 or bit 4 and so on - are really insignificant. Segwit2x, for me, is not ideal because it involves a hard fork and that should be avoided if possible. But with a large support by economy & miners I think the hard fork would go smooth. There is an attempt to properly hard fork to 2MB with some Core devs involved. I would be ok with that as long as we get everyone on board. A HF without Core-backed software is dead on arrival, you also need the entire community to get ready, or else we risk an actual ETH-ETC scenario. The NYC is bullshit and already failed, so there are attempts now to create something better. Of course Bitmain bribed agents will not want to get rid of covert ASICBOOST so we'll end up with UASF anyway. |
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Support SW+2mb or big block bitcoin. UASF is a pathetic failed attempt to threaten miners.
The only thing that failed here is their pathetic attempt at a corporate agreement while ignoring users:  This is what happens when you only invite computer illiterate morons instead of Core devs. No Bitmain-bribed miner wants to scale bitcoin anyway since it lowers fees, specially with a segwit softwork which kills covert ASICBOOT. Sorry, frankeinsegwit hf is dead. The only way to scale bitcoin is with UASF, or if a (proper) Core-backed 2MB hf + segwit sf is somehow achieved. But remember that august 1st is here and if snowball effects kicks in, everyone on ASICBOOSTed jihancoin chain will lose all their coins, oh and this chain will forever have the reorg Damocles sword menacing their heads while uasf-chain doesn't. |
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All the exchanges that don't give people the option to freely choose what coin to support will pay the price sooner or later, potentially bankrupting if UASF wins, because all the jihancoins will go to 0 due reorg, and users will rightful be able to blame and sue exchanges that did not give them the opportunity to withdraw them and get their split.
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4.3% hashrate is a good start
You have to actively switch to BIP148, so only a fraction of Slush hashrate counts toward BIP148. I think the BIP148 movement is already almost dead, no business behind it, even most Core devs opose it. Compare it to SegWit2x, which seems very promising, business behind it and the discussion with Core devs is constructive so far. I WOULD like to see an agreement to avoid UASF, the problem is, there's no way to do a proper hard fork in 6 months, I think 1 year would be better, oh and forget about anything that isn't Bitcoin Core approved. No one on their right mind is running software for a hard fork that isn't Core approved. If we want to do this right, miners should follow the soft fork segwit activation then a hard fork later on, anything that isn't segwit via soft fork is a mess and a scam, since it doesnt end covert asicboost. |
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The only ones here responsible for stalling bitcoin are miners by not signaling BIP 141 aka segwit. If they wanted to scale, they would activate it right now, but they just want bigger fees.
Run UASF or keep dreaming about miners activating anything that really scales bitcoin.
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4.3% hashrate is a good start, but if we add a Bitfury, thats another 7.9%. But the condition as far as I remember was that the Core devs must add the UASF code officially within the next Core release. If we manage to get Bitfury on board then things get really serious because we enter the 10%+ zone. Anything beyond 10% is interesting to see because snowball effect beggins. |
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As you all know, on August 1, there will be users who will try a user activated soft fork or famoualy called UASF. What it will do is nodes that it will start rejecting none Segwit nodes, risking a split in the blockchain. Depending on how much support it garners from the miners, the split might last a few hours, a few days or maybe longer.
If in case it lasts longer, how much would the price of Bitcoin be? Would it be low enough that we see Ethereum become no.1 in Coinmarketcap?
ETH is under doubts of having some serious exploit that would allow people to steal people's ETH. Look at Romanov's twitter. Link? For everyone's viewing pleasure. Im not sure if I want to put ETH hoping it's a safe place during any turbulence.
If miners decide to mine 10% on the BIP148 chain, there's still not much to worry about
At 20%, you have to start taking it serious
At 30%... anyone not holding BIP148 coins is insane
Any higher and snowball effect will kick in, BIP148 chain wins, legacy chain is destroyed, BTC gets segwit and defeats miners.
The miners that are activating Segwit are 30% the last time I saw the chart. Do you think maybe most of them will support BIP 148? The thing is, we don't need most of them, we only need a small amount to start making everyone else nervous and seeing how the conservative move will be to mine the UASF chain because you risk being left behind with 0 coins. The UASF activation works in a snowball/domino effect. If we can get 10%, the game is on. |
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I think bitcoin will stabilize it's current price in the system soon, and if has reached and come up with a better price that can sustain a businesses; it could have minimal fluctuations like a fiat currency. Business owners doesn't want an erratic price movement in a currency, that's the main reason why a country's economy will fail, because of fast moving currency which suddenly fall down of a currency price value at exchange market. Nowadays if this $2000 plus will continue to remain productive and demand will eventually rises, there is no wonder we can set a stable price in the future with our bitcoin digital currency system.
The whole value proposition of bitcoin is that is totally disconnected from the legacy banking system. It's price must stabilize by mere organic growth until the flux of money is so big that it doesn't wobble as much. This again can only be determined by freemarket price discovery. Any attempts to force this artificially go against the main point of bitcoin. |
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As you all know, on August 1, there will be users who will try a user activated soft fork or famoualy called UASF. What it will do is nodes that it will start rejecting none Segwit nodes, risking a split in the blockchain. Depending on how much support it garners from the miners, the split might last a few hours, a few days or maybe longer.
If in case it lasts longer, how much would the price of Bitcoin be? Would it be low enough that we see Ethereum become no.1 in Coinmarketcap?
ETH is under doubts of having some serious exploit that would allow people to steal people's ETH. Look at Romanov's twitter. Im not sure if I want to put ETH hoping it's a safe place during any turbulence. If miners decide to mine 10% on the BIP148 chain, there's still not much to worry about At 20%, you have to start taking it serious At 30%... anyone not holding BIP148 coins is insane Any higher and snowball effect will kick in, BIP148 chain wins, legacy chain is destroyed, BTC gets segwit and defeats miners. |
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I think bitcoin will stabilize it's current price in the system soon, and if has reached and come up with a better price that can sustain a businesses; it could have minimal fluctuations like a fiat currency. Business owners doesn't want an erratic price movement in a currency, that's the main reason why a country's economy will fail, because of fast moving currency which suddenly fall down of a currency price value at exchange market. Nowadays if this $2000 plus will continue to remain productive and demand will eventually rises, there is no wonder we can set a stable price in the future with our bitcoin digital currency system.
We may see periods of stability, but as long as the marketcap is tiny, we are prone to very massive bubble and burst cycles. Bitcoin has to reach something close to gold's marketcap for the price to be stable. $10,000,000 per coin is the value that would be needed for bitcoin to have the liquidity needed for it to not be prove to panic selling/panic buying creating massive price disturbances. |
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Aren't miners the ones forking with the Bitcoin SegWit2x?
Miners will never do anything to scale bitcoin because it would mean they lose money on fees, which is why bitcoin can only scale by force (UASF) you guys are funny. exchanges aren't going to support bip148 because they would be forking themselves from the main chain.
This is nonsense. UASF is happening august 1 independently on what you think about it. If you have customers holding BTC in your exchange and you don't give them their equivalent of holdings in the UASF chain, you are robbing them. If UASF wins, it will end badly for those not supporting UASF coins. Jonald thinks Exchanges don't want to handle multiple coins... think about why exchanges exist. LOL. This will be a profit opportunity for them. Exactly. Exchanges will list anything that allows them to rack up fees, and this will surely create for some good fee racking opportunity. But this is beyond some altcoin fee racking operation, we are talking about the possibility of UASF coin winning and then every exchange that didn't list UASF coins would have lost MILLIONS to all the holders of legacy coins that don't get UASF coins. They are forced to list BIP148 coins, anything else is a recipe for disaster. Sorry, but the only way to stop this is if miners signal segwit, and they will not, so get ready. |
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If the exchange or service you are using does not list BIP148 coins after august 1st, you are being effectively scammed, since if you are keeping the coins there, the split will happen anyway, but they are not giving you the opportunity to manage your own money, so most likely they will keep the 148 coins for themselves and act as if nothing happened.
Be aware that if BIP148 gains traction, the legacy coins would disappear and you would lose all money.
Demand all exchanges and services to list BIP148, and if they don't, point at the fact that they are scammers.
Get all of your coins back in your Bitcoin Core wallet before august 1st to guarantee you get the coins on both chains.
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Not that much. In 2014, a bitcoin whale dumped 37 million worth of bitcoin or something along the lines, and the sell order (which was a single huge wall) got quickly eaten. Notice that the price was around $300, so back then whales would have cause much more damage easier. Here you can see the sell wall in action and how it got eaten: https://www.youtube.com/watch?v=-uX_bB_4VJk |
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/r/btc, im not clicking on that cesspool.
Anyway I don't need to get brainwashed by anyone, I have seen what core devs say myself because I hang out on the slack, and there is a lot of variety, some think it's great, some are neutral, some thing it's crazy.
This just further proves Core is a decentralization organization, contrary to what antiblockstream-anticore shills parrot all day.
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It looks like actors in the BTC sphere have thrown their crown away.....
It seems ETH will become the largest market cap now....its pretty much a forgone conclusion, and despite the paucity of that measure, its the one that sticks in peoples minds and become as self fulfilling prophecy.
Whether ETH will retain that position is a different question.
Well done BU, well done Core.
ETH is a shitcoin that will crash 90% when the next DAO event happens, when the next undiscovered turing complete related crash happened, or when Vitalik Buterin and the Ethereum foundation go to jail. I don't care how high it goes in the meantime, ETH is a scam. Core has done everything right, it's Jihan Wu's fault for bribing people into the stalemate situation to keep milking high ASICBOOSTed fees. |
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Personally, if I'm in a coffee shop or any store with some people, I pull out my wallet and subtly show them my Xapo debit card. Then they get curious on what kind of card is that since it doesnt look like the usual Mastercard or creditcard. Then I explain it from there on. What's your way of spreading Bitcoin knowledge?  Videos are the best way to go. People are too lazy to road wall of texts about convoluted technical stuff. Andreas Antonopoulos videos are a good way to share some basic knowledge on bitcoin. I also like Trace Mayer interviews where he makes some good points. So yeah, share videos because if you think the average person will bother to read the whitepaper you are dreaming. |
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95% of hashrate locks-in segwit before August 1st. No chain split at all.
51% of hashrate deploys BIP148 before August 1st. No chain split at all.
51% of hashrate deploys BIP148 after August 1st. Chain split gets resolved.
Legacy miners are compelled by the economy to switch to BIP148 after Aug 1st. Chain split gets resolved.
Thats the bottomline. Of course there would be an undefined amount of time where 2 tokens co-exist but it will eventually resolve.
People that don't move to UASF chain are at risk of reorg.
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