Blockchain split of 4 July 2015

[Syke]

Won't that be tons of years into the future ?

I think it'll just take another 2-3 halvings before miners won't be able to ignore the value of including transactions. Unfortunately, the days of the hobbyist miner are over. Large mining farms value short-term profit over blockchain health. Satoshi's halving schedule was a little too conservative.

[CroMiner]

Hi there,

Can someone tell me is it safe to accept and send BTC now, I am purchasing on localBitcoins now, and need to send them later today as a payment to another person..Is it safe to buy now and send to another person, what is this notice I have in my client "node software out of date"..Is it safe to trade now ?

[wpalczynski]

Its safe as long as you wait for 30 confirmations on the BTC you are buying just in case.  When buying, don't give the guy the money until 30 confirmations.

[foxbitcoin]

Can you explain what happened to transactions that were recorded in the unintentional hard fork, which failed?

[redsn0w]

Won't that be tons of years into the future ?

I think it'll just take another 2-3 halvings before miners won't be able to ignore the value of including transactions. Unfortunately, the days of the hobbyist miner are over. Large mining farms value short-term profit over blockchain health. Satoshi's halving schedule was a little too conservative.

2-3 halvings? I think that as early as next halving 50 BTC >> 25 BTC the 'miners' will change their actual tactic and start to accept everything without any insane rules .

[wpalczynski]

Can you explain what happened to transactions that were recorded in the unintentional hard fork, which failed?

Invalid, went back to original address.

[CroMiner]

Its safe as long as you wait for 30 confirmations on the BTC you are buying just in case.  When buying, don't give the guy the money until 30 confirmations.

Thanks for the reply, I am buying on local bitcoins, so I need to send money first ( to escrow ) they keep it there for like 70min's and I get the coins, hope everthing will go well..

[jl2012]

Can you explain what happened to transactions that were recorded in the unintentional hard fork, which failed?

Invalid, went back to original address.

Only if they are not in the correct fork

[trafficolaa]

Is online web wallet are safe for transaction as i am using coinbase web wallet so i have to wait for that 30 confirmations, how can we know that incoming transaction is from the right fork and cant be double spend?

[Soros Shorts]

A very serious event for sure - but seems to have been mostly fixed already.

It shows, that relying on SPV wallets is not a good idea at all. Only full nodes offer full security. That's why excessive increases in blocksize are dangerous: The number of full nodes will decline further, because the average user doesn't have the resources to run them. In turn, the system as a whole will become less secure and more vulnerable to events like this.

ya.ya.yo!

What kind of resource are you talkin about? The only thing you need really is disc space (for now blockchain info is about 42GB big) every stationary PC or laptop is capable of storing more.
It is not resources we lack, it is that people are lazy is the problem.

I have run my own pool (p2pool) on crap hardware which was a quad-core i5 with 8GB RAM. When my node received a new block, it took 5 seconds for bitcoind on my quad-core i5 to validate the < 1MB block. That is 5 full seconds when my miners could not do any useful work work. So you see it is not just the disk space that is used up when block go bigger - pools and mining nodes would have to invest in faster processors as well or they will lose the edge.

[Syke]

2-3 halvings? I think that as early as next halving 50 BTC >> 25 BTC the 'miners' will change their actual tactic and start to accept everything without any insane rules .

That could be as soon as next year, which would be great. Fees are still under 1% of the block value, but after the next halving they could be over 1%. That might be enough.

[notbatman]

Fail at breaking Bitcoin.

My records indicate the "issue" started on June 16 and lasted until the 23rd when transactions from the 17th and 22nd showed up. blockchain.info's database corruption also starts on the 16th and is corrupt/wrong chain until the 26th. I upgraded p2pool to v14 on the 28th.

Everything has been hunky dory since the 23rd with the only issue being a minor decrease in payout rate for a few days due to me not noticing the push for a some hours and, possibly a bit of mining on the wrong chain until the v14 update.

This is a very minor hiccup if you've mined in the alt-coin mining space, where things go very wrong sometimes.

Where are you guys getting this 4th of July date from?

[jl2012]

Fail at breaking Bitcoin.

My records indicate the "issue" started on June 16 and lasted until the 23rd when transactions from the 17th and 22nd showed up. blockchain.info's database corruption also starts on the 16th and is corrupt/wrong chain until the 26th. I upgraded p2pool to v14 on the 28th.

Everything has been hunky dory since the 23rd with the only issue being a minor decrease in payout rate for a few days due to me not noticing the push for a some hours and, possibly a bit of mining on the wrong chain until the v14 update.

This is a very minor hiccup if you've mined in the alt-coin mining space, where things go very wrong sometimes.

Where are you guys getting this 4th of July date from?

https://bitcoin.org/en/alert/2015-07-04-spv-mining

[cyberpinoy]

Where are you guys getting this 4th of July date from?

https://bitcoin.org/en/alert/2015-07-04-spv-mining

oops someone beat me to it,

however to sum it up in a sarcastic way we got the info by completely reading the whole OP including his edits and reading the links he provided.

[notbatman]

Oh, the 4th is the point v3 threshhold hit 95%, it looks to me like the bad blocks started on June 16th as that's when blockchain.info got corrupted. I use p2pool so this SPV business is something I'm oblivious to and it looks like it caused more bad chains.

[luthermarcus]

I have yet to hear from someone who was negatively affected by this other than the large centralized pools.
This was preplanned and v4 is the next step but there is not set date just set requirements.

[oniromancia]

So it appears like f2pool is not validating blocks according to v3 rule and there we got a fork at 363731 followed by a massive amount of orphans coming from f2p and antpool. Personally i had no trouble with running SPV client. But seems like there is no much concern since both pools are now fixed.

[notbatman]

You can mine the correct chain with the pools listed here (the chain the exchanges use  ):

http://p2pool.jir.dk/bitcoin/?allnodes=1

[Exodus3322111]

If any wallet does not allow older version blocks, will that be a considered "fix"?

[luthermarcus]

You can mine the correct chain with the pools listed here (the chain the exchanges use  ):

http://p2pool.jir.dk/bitcoin/?allnodes=1

ok  most of those havent upgraded to 14.0 which p2pool should be on. I wouldn't recommend mine on those.

Below is a better scanner use only ones that are on version 14.0
http://nodes.p2pool.co/