bitserve
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July 18, 2017, 07:43:13 AM |
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Scaling debat is reaching it's climax, Segwit lock-in incoming soon.
hint : BIP91 is not a bitcoin core feature or policy. It doesn't provide a way to activate SegWit. Officials BIPS of Bitcoin Core are here : https://bitcoincore.org/en/bips/Correct me if I am wrong, but it is my understanding that the following scenario is the most plausible: - BIP91 locks-in - BIP148 probably doesn't lock-in because of not reaching 95% consensus... but then UASF comes into place forcing BIP148 - BIP91 and BIP148 both support segwit, so both implementations are compatible and don't orphan each others blocks - Profit |
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It is a common myth that Bitcoin is ruled by a majority of miners. This is not true. Bitcoin miners "vote" on the ordering of transactions, but that's all they do. They can't vote to change the network rules.
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Lauda
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Terminated.
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July 18, 2017, 07:45:27 AM |
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What IS that big Bitstamp wall up to..?
I hope for a full retracement, but will not be certain of it until we are above $2500. A lot of money could have been easily made in the last couple of days, for those who trade smart. hint : BIP91 is not a bitcoin core feature or policy.
It doesn't provide a way to activate SegWit.
It does activate Segwit. You have a fundamental misunderstanding if you think that it does not. BIP91 will start orphaning non-SW signalling blocks after it has 80% of the blocks for 72 hours (IIRC). This means that the traditional activation mechanism will see a spike to 95% (BIP9) which requires 2 weeks to lock in Segwit, and then another 2 weeks to activate it. Correct me if I am wrong, but it is my understanding that the following scenario is the most plausible:
- BIP91 locks-in
- BIP148 probably doesn't lock-in because of not reaching 95% consensus... but then UASF comes into place forcing BIP148
- BIP91 and BIP148 both support segwit, so both implementations are compatible and don't orphan each others blocks
- Profit
No. That is also fundamentally wrong. BIP91, after locking in and triggering will orphan any non-Segwit signalling blocks, which is the same that BIP148 starts doing on August the 1st. As long as BIP91 locks-in before August the 1st, there is not going to be a fork on that day. UASF is BIP148, or to be more precise: BIP148 is an implementation of UASF. BIP148 does not need 95% consensus (this number was never associated with it). |
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JimboToronto
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You're never too old to think young.
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July 18, 2017, 07:45:36 AM |
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It's getting near my bedtime but I'm sleeping alone tonight and we're getting so close to $2300 I can't stop watching. Damn you Bitcoin.  |
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Tmdz
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July 18, 2017, 07:46:30 AM |
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And the price keeps creeping upward. $2300 before morning (EDT)?
Last week is beginning to look like an aberration. The almost 2-year-old uptrend seems to still be in order.
It's funny how a little panic-inspired dip of less than a week's duration had so many people talking about bursting bubbles, bear markets, and the death of Bitcoin.
It seems a certain honey badger had different ideas.
Sup?  BTC barely mooned in this uptrend ($3K? pshh), lets at least get our moonshot before a bear market. That's gonna require some nice long weekly greens. This bounce was strong, bears are gonna be fierce at the $2300 zone, but they getting nervous, segwit is just around the corner Don't worry the fun as only just begun. There will be lots of trading opportunity the coming weeks. |
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bitserve
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Self made HODLER ✓
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July 18, 2017, 08:01:37 AM |
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Correct me if I am wrong, but it is my understanding that the following scenario is the most plausible:
- BIP91 locks-in
- BIP148 probably doesn't lock-in because of not reaching 95% consensus... but then UASF comes into place forcing BIP148
- BIP91 and BIP148 both support segwit, so both implementations are compatible and don't orphan each others blocks
- Profit
No. That is also fundamentally wrong. BIP91, after locking in and triggering will orphan any non-Segwit signalling blocks, which is the same that BIP148 starts doing on August the 1st. As long as BIP91 locks-in before August the 1st, there is not going to be a fork on that day. UASF is BIP148, or to be more precise: BIP148 is an implementation of UASF. BIP148 does not need 95% consensus (this number was never associated with it). That is even better. As long as miners stick to THEIR OWN roadmap we will all be fine... And with all the weak hands shaken during this last correction the rise after all the uncertainty dissapears could be impressive. |
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luckygenough56
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July 18, 2017, 08:15:27 AM |
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i don't understand a thing about this segwit activation mess, but i think it's what they want (reptilian overloads), keep us ants in the dark.
what i undrrstand tho is that bitcoin will be dumped after segwit activates
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JayJuanGee
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Self-Custody is a right. Say no to"Non-custodial"
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July 18, 2017, 08:16:20 AM |
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What IS that big Bitstamp wall up to..?
I hope for a full retracement, but will not be certain of it until we are above $2500. A lot of money could have been easily made in the last couple of days, for those who trade smart. Sounds like you are experiencing some regrets, Lauda? I execute trades every $50, and everything went pretty smooth with me, except for a mistake that I made at $1859. For some reason I sold twice at $1859, when I thought that I was executing buy orders.. I still cannot figure out what I did exactly, so in order to recover, I had set buy orders to buy back my mistake at $1840 and $1820, but alas, we never returned to those prices.. at least so far. I am just writing it off as some kind of wash mistake.. it washed out some of my other seemingly profitable trades... so it is all good.. and my portfolio is only affected like less than .2% by the mistake. Oh .. and thanks for you clarification of BIP91 and BIP148. It seems that however many times these explanations are repeated, there are further opportunities for confusion proliferation, which can come from the content of one or two erroneous posts... |
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rjclarke2000
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July 18, 2017, 08:21:06 AM |
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Well I am totally confused. You are all saying different things too.
I don't know which one to take notice of!
Edit. If I'm confused then I can't imagine what other folk must be like. Uncertainty definitely doesn't make things overly positive.
I'm sure it'll be clearer soon.
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bitserve
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Self made HODLER ✓
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July 18, 2017, 08:26:51 AM |
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Well I am totally confused. You are all saying different things too.
I don't know which one to take notice of!
Edit. If I'm confused then I can't imagine what other folk must be like. Uncertainty definitely doesn't make things overly positive.
I'm sure it'll be clearer soon.
There is no spoon fork. |
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SERVERIA
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July 18, 2017, 08:36:11 AM |
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Looks like them panic sellers have been played beautifully once more. There'll be more of it. Try not selling and see where you end up.
That's too complicated for those guys. It's much easier to buy high and panic sell low.  |
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eiskalt
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July 18, 2017, 09:34:21 AM |
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In two weeks, everything will be forgotten.  Prepare for the BLITZ! |
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Lauda
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Terminated.
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July 18, 2017, 09:37:02 AM |
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That is even better. As long as miners stick to THEIR OWN roadmap we will all be fine... And with all the weak hands shaken during this last correction the rise after all the uncertainty dissapears could be impressive.
The only reason that I somewhat like BIP91 is because it can (and possibly will) prevent the split on August the 1st. The latter part of it, i.e. the hard fork, may end up being a disaster (if it happens). Sounds like you are experiencing some regrets, Lauda?
I execute trades every $50, and everything went pretty smooth with me, except for a mistake that I made at $1859. For some reason I sold twice at $1859, when I thought that I was executing buy orders.. I still cannot figure out what I did exactly, so in order to recover, I had set buy orders to buy back my mistake at $1840 and $1820, but alas, we never returned to those prices.. at least so far.
No. I am not a trader, or at least not a day trader. I can't bother to move cold storage funds to an exchange for these swings and trading with a few thousand USD is waste of time for me. So, you didn't manage to buy back in yet? I certainly did expect it to spiral down that much, that quickly. Oh .. and thanks for you clarification of BIP91 and BIP148. It seems that however many times these explanations are repeated, there are further opportunities for confusion proliferation, which can come from the content of one or two erroneous posts...
I'm somewhat inclined to say that it's rather much simpler than people claim it is, but that may be cognitive bias. The problem with it is that 'what can' and 'what will' happen keeps changing. It is still not definite that a split will be prevented. The odds just keep changing. |
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ivomm
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All good things to those who wait
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July 18, 2017, 10:07:20 AM |
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Elwar
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Viva Ut Vivas
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July 18, 2017, 10:21:34 AM |
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Considering BIP91 is at 63% and SegWit is at 22%...all the SegWit folks need to do to get SegWit activated is to add the BIP91 bit and wait for 2 days and we will have SegWit with 85% participation. Then with BIP148 it will fill that last 10% to activate in the Core client. Done.
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bitserve
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July 18, 2017, 10:30:13 AM |
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No, it was YESTERDAY question. Today it has been answered by current price. |
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leowonderful
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Bitcoin FTW!
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July 18, 2017, 10:56:21 AM |
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We still need ViaBTC, F2Pool to signal, and F2Pool recently got DDOSed so that may be the reason why signalling is delayed on their end. Bitmain is also fake signalling right now, and if that doesn't change then they will orphan all SW2x blocks. Interesting times. I hope that lock-in period will succeed the first time but considering these two big pools and several small pools aren't signalling BIP91 yet, it may take some time for it to happen.
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Elwar
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Viva Ut Vivas
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July 18, 2017, 11:22:11 AM |
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So, can someone explain the blue shading and black lines under the graph on here https://www.xbt.eu/ |
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Genesis1337
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July 18, 2017, 12:02:57 PM |
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So, can someone explain the blue shading and black lines under the graph on here https://www.xbt.eu/I am not sure for the rest, but the first bar (BIP91 LOCK-IN) I believe the black bar represent the 269 out of 336 blocks (80%). For the one below, the black bar represents current signalling for BIP91. Not sure about the rest of it though. |
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Torque
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July 18, 2017, 12:11:37 PM |
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Notice the rise in Altlandia.
This was primarily a massive Altlandia bull trap. Crypto personalities on yt are going nuts, doubling down with both hands.
They're gonna get burned again.
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Denker
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July 18, 2017, 12:29:20 PM |
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John McAfee is taking bets: In the long term Bitcoin moves above $500,000 within three years. Bets? https://twitter.com/officialmcafee/status/887012614131372032Send legal contract bet to: John McAfee 98 Scott Street. Lexington, TN. 38351 I would definitely take a $500k bet knowing that in 3 years I can sell one of my bitcoins for $500k to pay off the bet happily. Or he gives me $500k. Win win. Well, the problem is nobody knows what $500k can buy you after 3 years! Furthermore McAfee is talking about JihanCoin! HE said he will follow Jihan, meaning bigger Blocks. So this isn' really relevant as I doubt this hardforked coin will have any significance and probably not being called Bitcoin. His price prediction is also totally crazy. He is talking about a $10 trillion market cap. That guy should definitely stop consuming drugs! It's also weird that he said he would eat his own dick on national tv if this price prediction should not happen. I mean WTF?! |
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