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Author Topic: Will UASF affect Bitcoin ?  (Read 967 times)
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June 25, 2017, 11:22:01 PM
 #21

i think uasf has already done its job. there won't be a chain split and it won't be necessary this time.

however i think it might come into play again if there's talk of this 2mb hard fork. all the usual crap has only been put to bed for a short while until the hard fork stuff rises its head again a few weeks or months after august 1st.

i really can't see anyone other than a few miners wanting the 2mb hard fork.

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June 25, 2017, 11:59:24 PM
 #22

there are a lot of things going on right now which makes it even harder to say anything about how it will go and specially how the price will be because of this.
obviously the smoother the transaction will be the better it is for bitcoin's future and short term price. but it seems like it won't be smooth at all.

as far as BIP148 UASF goes i don't think it will gain enough support to move forward. we may end up going to the next UASF, this one seems to be very rushed.
i personally hope we can come to a compromise and meet in the middle, splitting the network won't end well for bitcoin.

Yes, the main problem is whether one or another solution that accepted by mostly people who involved and reach activation threshold over 80% or 95%. If segwit2x will become the chosen one, and won't split the chain then it will be better than just sit on 1Mb blocksize, even though not everyone thinks that would be enough for long term development.

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June 26, 2017, 12:56:16 AM
 #23

UASF will affect bitcoin a lot because the movement of the price for the next few months is depending on that event so if it will become a successful change for bitcoin then the price will go up to not expected price then the opposite for that is a mess and for sure a very hard dump for bitcoin so i think that the UASF is playing a big role here for the price.

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June 26, 2017, 07:33:59 AM
 #24

Im no longer worried about UASF and it's safe to say you shouldn't be worried too. 90% of hashrate is signaling for segwit2x, which means segwit will be activated before august 1st

SegWit2x is not the same as plain SegWit

As I got it, according to the SegWit2x proposal, SegWit is activated first, and then, in about half a year's time, 2M hard fork comes about. This is the condition behind SegWit activation brought forth by the mining cartel. The miners present it as sort of compromise, but to me, this is outright bullshit. This question is a purely technical one (and it should be treated as such), and there is no place for such reasoning altogether (like "we agree to SegWit on the condition that you accept 2M hard fork later"). If SegWit is worth it, it should be activated without any reservations like going for hard fork thereafter. That's the reason why the Bitcoin Core team will likely reject this proposal, and they will be right

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June 26, 2017, 08:27:41 AM
 #25

in about half a year's time, 2M hard fork comes about.
More like three months...

If SegWit is worth it, it should be activated without any reservations like going for hard fork thereafter.
In an ideal situation that would be the likely outcome, but the point is that the need for a change/improvement is higher than it was ever before. No matter how we think about the miners, which mostly isn't very positive, they are part of the game, and thus Segwit2x is more or less the closest we can come in terms of a major agreement. Overall, it's not a bad proposal at all, it's perfectly workable.

That's the reason why the Bitcoin Core team will likely reject this proposal, and they will be right
That's what you hope...

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June 26, 2017, 09:14:23 AM
 #26

Im no longer worried about UASF and it's safe to say you shouldn't be worried too. 90% of hashrate is signaling for segwit2x, which means segwit will be activated before august 1st.

If I understood correctly, it will be compatible with regular Bitcoin Core clients so that means segwit will get activated. Just be sure to NOT download any software that isn't released by Bitcoin Core and you will be ok.

I heard the same thing too. I am really hoping that they can be true with their commitment for Segwit. It is true that what is happening now can be a good gamble but I still believe that after all these dramatic moves we can see a better Bitcoin more agile and ready for the future.

Will this mean that transaction fees can return to normal? I am expecting that it would be otherwise we would not enjoy the benefits of Segwit as Bitcoin users. Would there be a spike of Bitcoin value after August 1? I am expecting of that too but no one can be sure what will be since the market can also be an unpredictable beast.

Finally, the time has come for Bitcoin to soar high!

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June 26, 2017, 09:40:44 AM
 #27

That's the reason why the Bitcoin Core team will likely reject this proposal, and they will be right
That's what you hope...

And it is not just me

In fact, if it weren't so (i.e. Bitcoin Core likely rejecting SegWit2x), there would be no UASF BIP148 proposal in the first place (even if BIP148 was proposed before SegWit2x). Basically, the SegWit2x proposal reveals a few important things worthy of mentioning. First, the miners are apparently afraid of the BIP148 proposal since if they were sure that it wouldn't come through, they would have just chosen to outright ignore it. Second, the mining cartel is as afraid that they will eventually get thrown out of business, and that's why they came up with SegWit2x to make it look as if they had a say (I guess the 2M hard fork will allow them to continue to do what they have been doing, i.e. go for high and higher fees). But not all them seem to be quite happy with this kinda "compromise". Jihan Wu is certainly not, so he started to threat the community with a Wucoin, a Bitcoin copycat on Jihan's own chain (though he is likely just bluffing to make SegWit2x look more acceptable). And finally, the SegWit2x proposal clearly shows that SegWit itself is certainly worth being implemented, otherwise it would be completely discarded by the cartel out of hand

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June 26, 2017, 09:42:59 AM
 #28

Im no longer worried about UASF and it's safe to say you shouldn't be worried too. 90% of hashrate is signaling for segwit2x, which means segwit will be activated before august 1st.

If I understood correctly, it will be compatible with regular Bitcoin Core clients so that means segwit will get activated. Just be sure to NOT download any software that isn't released by Bitcoin Core and you will be ok.

I heard the same thing too. I am really hoping that they can be true with their commitment for Segwit. It is true that what is happening now can be a good gamble but I still believe that after all these dramatic moves we can see a better Bitcoin more agile and ready for the future.

Will this mean that transaction fees can return to normal? I am expecting that it would be otherwise we would not enjoy the benefits of Segwit as Bitcoin users. Would there be a spike of Bitcoin value after August 1? I am expecting of that too but no one can be sure what will be since the market can also be an unpredictable beast.

Finally, the time has come for Bitcoin to soar high!

We have the same optimism dude. I hope that the transaction fee would be minimal that a lot of people can used bitcoin in doing micro payment transaction. I think if the transaction fees could be resolved by this activation then most probably mass adoption will be next. And as a result the price of bitcoin will spike definitely, pushing it to a new level. I know that bitcoin price is really unpredictable, but then again, I'm very optimistic about it and I think others are too. I guess, we will have to wait and see it this come to fruition.

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June 26, 2017, 12:48:19 PM
 #29

First of all , for those who don't know what UASF means : "User Activated Soft Fork"

"UASF is short for "User Activated Soft Fork". Its specification is described here.
It tries to force the activation of SegWit which is currently (~30%) unable to reach the required activation threshold (95%).
Between August 1st and November 15th, UASF nodes will consider all blocks invalid that do not explicitly signal support for SegWit, thus creating a fork. Within that fork, support for SegWit will be 100% which in turn triggers the activation threshold of SegWit (95%)."
https://www.reddit.com/r/Bitcoin/comments/64jky9/what_is_uasf/

If soft fork happens successfully, then price willl rise , if not , btc price will fall hardly .
It's a gamble

What do you think ?

The UASF is one of the highlight events that are being waited by the majority and big bitcoin holders, players and exchanges. If UASF will be implemented it will bring bitcoin into another level. With UASF activating Segwit, bitcoin may improved a lot and that will become stable since transactions will be confirmed faster. If this activation will succeed we will hope to see that many big companies will be attracted to accept bitcoin and integrate it into their system. This will make bitcoin leap and we will expect a possible major inflation when that time comes.

If Segwit activation will not be implemented we can expect two things its either bitcoin will stay the same or there will be a possible crash of price/value.

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