Good news everyone: SegWit may finally be activated with majority support

[Dakustaking76]

Lol i read a post with that the miners aint supporting segwit anymore beceause of
The technical isseus, there rejecting it

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[rogerwilco]

segwit and good news, don't make me laugh 
segwit is the shittiest news ever since its inception
bitcoin needs bigger blocks

A larger number of end users isn't what makes a coin decentralized. Visa has millions of end users. What makes a coin decentralized is how many miners and nodes there are.
The bigger the blocks, the fewer people that can mine or run a node, the more centralized it becomes.
That's why people don't want JihanCoin.

[d5000]

It's impossible to keep it indefinitely. You're right about the demand not being overwhelming and that this upgrade will be enough to solve the problems for some time.
Unfortunately if Bitcoin keeps growing at exponential rate we'll be looking at double the number of transactions in the next 2-3 years, especially with SegWit active and no vulnerabilities or hacks.

I agree on the doubling prediction, but then in 3 years the 2MB+Segwit blocks (effectively 8MB maximum) will have still about three times the needed capacity. I expect full 2MB+SW blocks in 5-8 years, but it can be enough forever if sidechains and LN were the preferred methods to handle most smaller transactions. I've wrote that in the last post.

i read a post with that the miners aint supporting segwit anymore

Source? It doesn't seem so.

[pooya87]

the signalling support chart seems so freaking funny. it started 8-9 days ago and went up to nearly 90% support right away. i mean look at this thing 819 blocks out of last 1000 blocks are signalling for SegWit2x! i just hope we can finally find some middle ground and activate SegWit so we can move out of this stalling situation.

[Hyena]

segwit and good news, don't make me laugh 
segwit is the shittiest news ever since its inception
bitcoin needs bigger blocks

A larger number of end users isn't what makes a coin decentralized. Visa has millions of end users. What makes a coin decentralized is how many miners and nodes there are.
The bigger the blocks, the fewer people that can mine or run a node, the more centralized it becomes.
That's why people don't want JihanCoin.

we all know this is bullshit, pretty useless to bring this as an argument in 2017. it might have worked 2 years ago when people were uninformed but today, come on. you've got to be better than that. 

but sure, for the lulz let me play along with your fallacy. so let's say miner centralization is bad. guess what's even more bad. yep, wallet implementation centralization is even worse. bitcoin doesn't belong to blockstream you know. clearly they haven't been able to solve the TX fee problem, they have failed. worst company ever. better increase the block size to 4 MiB until a better scaling solution is invented by someone else than blockstream

[d5000]

wallet implementation centralization is even worse.

Well, Segwit2x could impose a second popular segwit-capable wallet implementation, apart from Core's AXABlockStreamCoin . In any case, Segwit itself is not what leads to a "wallet implementation centralization". This centralization has more to do with the tradition to regard the Core client as the "reference implementation". But Core formally is not different from any other development team that tries to code and distribute a Bitcoin client - only these informal mechanisms give them so much power over code and protocol. As already said, Segwit2x could change that, so you should embrace it if you favour a more diverse "development ecosystem".

better increase the block size to 4 MiB until a better scaling solution is invented by someone else than blockstream

With Segwit2x we'll get probably about 4 MB blocks. Isn't that exactly what you want?

[Hyena]

wallet implementation centralization is even worse.

Well, Segwit2x could impose a second popular segwit-capable wallet implementation, apart from Core's AXABlockStreamCoin . In any case, Segwit itself is not what leads to a "wallet implementation centralization". This centralization has more to do with the tradition to regard the Core client as the "reference implementation". But Core formally is not different from any other development team that tries to code and distribute a Bitcoin client - only these informal mechanisms give them so much power over code and protocol. As already said, Segwit2x could change that, so you should embrace it if you favour a more diverse "development ecosystem".

better increase the block size to 4 MiB until a better scaling solution is invented by someone else than blockstream

With Segwit2x we'll get probably about 4 MB blocks. Isn't that exactly what you want?

segwit as a technical solution is complete nonsense, there's so much material about it online, just research it. I want a proper protocol upgrade that does not introduce any additional technical debt. take flextrans for example, way better solution to the same problems segwit attempts to solve.

[jubalix]

Good lord, I will be so relieved when we can finally put all this SegWit / scaling crap behind us.

And here I thought the analysis-paralysis in Corporate America IT was bad, often with endless meeting-upon-meeting discussions and multi years delay in the simplest of move forward decisions....

This SegWit crap has put that to absolute shame.

Brilliant analysis ..... its amazing how something that achieves consensus like BTC caused one of the most bitter and //lyisng fights ever.

How much more can you shoot yourself in the foot

I mean BTC what threw away 35~40% market share in the process in 4 months. It's hard to think of any other comparable even even in tech.

[cellard]

the bad thing is that bitmain is saying that they will shift their hashrate to their own shit coin bitcoin clone, so the network will be unsecure with a major hashrate dropping

i hope this is not something that can promote a 51% momentarily, because it would be a disaster, or bitmain itself would do it instead since they would not support bitcoin core anymore

Nobody will ever run JihanCoin. And if he stops mining the real chain for JihainCoin, he would disclose how much hashrate he has exactly and he doesn't want that, he wants people to think he has a ton of hashrate.

The problem here are the idiots that want to fire Core devs to put Jeff Garzick and the other morons in charge of bitcoin with the btc1 fork. If that happens then it's time to dump.

[d5000]

segwit as a technical solution is complete nonsense, there's so much material about it online, just research it. I want a proper protocol upgrade that does not introduce any additional technical debt. take flextrans for example, way better solution to the same problems segwit attempts to solve.

I know this argument. Has some validity, but I am being pragmatic ... we won't find consensus for an "ideal" solution with minimal technical debt and the absolutely perfect tech. Flextrans is indeed interesting, but it seems that it is an one-man project and would have needed more testing.

I mean BTC what threw away 35~40% market share in the process in 4 months. It's hard to think of any other comparable even even in tech.

Market cap is not the same than market share. I agree with you that the scaling war has done some danger to Bitcoin, but the altcoin rally was caused only in part by it - in part also by Ethereum's ICOs and simply awareness for cryptocurrencies that led to greedy speculation, above all in countries like Japan and South Korea.

[Hyena]

segwit as a technical solution is complete nonsense, there's so much material about it online, just research it. I want a proper protocol upgrade that does not introduce any additional technical debt. take flextrans for example, way better solution to the same problems segwit attempts to solve.

I know this argument. Has some validity, but I am being pragmatic ... we won't find consensus for an "ideal" solution with minimal technical debt and the absolutely perfect tech. Flextrans is indeed interesting, but it seems that it is an one-man project and would have needed more testing.

Just because we don't have a popular alternative doesn't mean we should eat shit. SegWit solves nothing. Research it. It's complete and utter bullshit. A proper block size increase on the other hand is proven and tested solution to the TX fee issue. TX malleability is not even a bug, it has workarounds. But of course the Core would not like you to know that because that knowledge alone renders SegWit into a total joke.

[Alice Nuttal]

Looking at the entire thread everyone has conflicting replies,so what is really happening,is there a slight possibility of a split and if that happens what will be the future of bitcoin,will it affect the price if there is a split.

I have read a lot of articles and they are just as conflicting as the replies here.  There is no general opinion on what is going to happen after August, 1. It is quite difficult to predict now. Some say everything is going smoothly and the majority is unanimous, other warn that the split is inevitable. In case of the network disruption bitcoin (or bitcoins) will probably face really hard times in terms of price and acceptance among users.

[crypteris]

Looking at the entire thread everyone has conflicting replies,so what is really happening,is there a slight possibility of a split and if that happens what will be the future of bitcoin,will it affect the price if there is a split.

I have read a lot of articles and they are just as conflicting as the replies here.  There is no general opinion on what is going to happen after August, 1. It is quite difficult to predict now. Some say everything is going smoothly and the majority is unanimous, other warn that the split is inevitable. In case of the network disruption bitcoin (or bitcoins) will probably face really hard times in terms of price and acceptance among users.

So if the chain eventually splits, so does the bitcoin. In my understanding there would be two different bitcoins circulating around the networks and they would be deemed as two independent currencies. Will they both be traded in the market?

[600watt]

bip 91 is locked in. segwit will get activated before august 1st.

moon!

[talks_cheep]

Core devs are gonna be so f*cked. They deserve to be screwed, reamed in the a$$. Bunch of lazy idiots is what they are. Satoshi must be rolling in his grave, if he's really dead.

[iamTom123]

Good lord, I will be so relieved when we can finally put all this SegWit / scaling crap behind us.

And here I thought the analysis-paralysis in Corporate America IT was bad, often with endless meeting-upon-meeting discussions and multi years delay in the simplest of move forward decisions....

This SegWit crap has put that to absolute shame.

I am quoting and specifically mentioning your reply here because I do agree with you 1,000% haha. Yes, it is indeed a big shame for the whole Bitcoin community that it took the people responsible for the scaling problem so many months and so many discussions...those time and effort utilized are all way beyond normal. And since we are all dealing with Bitcoin which is supposed to be fast, efficient and cost-wise, these decision makers have been put to a test and they almost failed. However, I am just stating that because we should be learning some lessons here so that when another challenge can come up the same shenanigans and mess could be avoided.

[Alice Nuttal]

So if the chain eventually splits, so does the bitcoin. In my understanding there would be two different bitcoins circulating around the networks and they would be deemed as two independent currencies. Will they both be traded in the market?

Exchanges already began to inform their users about coin-splitting services. At least CEX.io did. https://blog.cex.io/news/important-notice-segregated-witness-possible-chain-split-16390
So I don't think it will be much mess in the market.

[BrewMaster]

it feels good to see this topic after about a month and look back at all the drama that has happened during this time! and we are finally here, BIP91 locked and loaded

lets just hope we can get this done and over with hopefully with least amount of bloodshed and as fast as possible, so that we can focus on the future and things that matter...

[Red-Apple]

i am glad to see this topic again and be the bearer of Good News for Everyone.

and so far the Good News continues pouring in. BIP91 activated and now BIP141 is being signaled with almost 100% support. i've got the same feeling that i had when Litecoin was activating SegWit with the same near 100% support.

we have moon in the future...

[heringasem]

It is annoying to realize that probably 2/3 of the total exchanges are not using segwit wallets only for their own convenience.
That is crap, not even Bittrex who is the major exchange has a segwit wallet integrated.