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Author Topic: [2017-06-19] 70 Percent of the Bitcoin Hashrate Begins Signaling Segwit2x  (Read 5310 times)
TwoTimes
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June 19, 2017, 07:00:05 PM
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On June 16 the alpha code for the scaling solution Segwit2x was released to the public following a large number of mining pools having vocally supported the plan. Since then a large majority of miners who back the Segwit2x roadmap have started signaling with their hashrate.

On June 18 the mining pool Bitfury began signaling for the New York agreement by using the call letters “NYA” in its mined blocks. The very next day a large majority of miners have also started showing support for the Segwit2x plan. As of right now, mining pools who support the agreement by signaling NYA in their blocks are Antpool, Bitcoin.com, Bixin, BTC.com, BTC.top, F2pool, Viabtc, and 1hash. The amount of support for the Segwit2x agreement is close to 70 percent of the network hashrate.

Read More Here >>> https://news.bitcoin.com/70-percent-bitcoin-hashrate-signaling-segwit2x/
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June 19, 2017, 07:08:24 PM
 #2

Looks like this is a great news as mining pools have signaled Segwit2x. I hope we can see the impact of the Segwit implementation so that everyone will be happy in the long run. And I can't believed that it has reached 70% consensus very quick.


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richardsNY
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June 19, 2017, 07:23:20 PM
 #3

My personal preference goes to BIP141 to be honest, but SegWit2x is a very decent alternative that I can see become a viable option to go for. I must however note that we shouldn't get excited already, because as long as things haven't been put to action, there is nothing that we have gained in this regard.
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June 19, 2017, 08:33:31 PM
 #4

My personal preference goes to BIP141 to be honest, but SegWit2x is a very decent alternative that I can see become a viable option to go for. I must however note that we shouldn't get excited already, because as long as things haven't been put to action, there is nothing that we have gained in this regard.

I totally agree. We should not jump into conclusions here. We still haven't seen what the impact of this activation on the bitcoin specially on the price. Can this be the perfect solution to the ever growing problem that we are currently facing? There will be so many questions on our minds right now and it can only be answered once it was fully implemented. Of course I try to be very optimistic that this SegWit2x implementation will bring us good result in the end.

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June 19, 2017, 08:36:53 PM
 #5

Looks like this is a great news as mining pools have signaled Segwit2x. I hope we can see the impact of the Segwit2x implementation so that everyone will be happy in the long run. And I can't believed that it has reached 70% consensus very quick and its increase any time. Bitcoin always change everything.
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June 20, 2017, 02:39:09 AM
 #6

I’ve invested some of my coins in alts just to hedge against whatever may happen in the next few months. Transfer some to other trusted, high market cap and trade volume coins. Some good examples are Litecoin and Ethereum.
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June 20, 2017, 03:27:29 AM
 #7

70% is still not good enough, right? If I am not wrong, then we need a 95% consensus to implement Segwit2x. This will be extremely hard to achieve, as some of the mining pools have remained firm in their opposition to Segwit2x. Anyway, it is good to see the proportion rising from 40% to 70% in less than a month.
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Segwit please.


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June 20, 2017, 07:24:31 AM
 #8

70% is still not good enough, right? If I am not wrong, then we need a 95% consensus to implement Segwit2x.
In reality, if the support manages to maintain 80% (higher is always better of course) for a period of 336 blocks straight, we'll have to wait another 336 blocks to finally have Segwit2x activated (obviously, it will only activate on Segwit2x capable nodes at first stage). Currently we are at 76.4% support - we are very close -> https://coin.dance/blocks

hfaffiliates
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June 20, 2017, 08:17:19 AM
 #9

I’ve invested some of my coins in alts just to hedge against whatever may happen in the next few months. Transfer some to other trusted, high market cap and trade volume coins. Some good examples are Litecoin and Ethereum.


Wow Great. But Now You can to try new to experience of WAVES. Its Good Project and also Long Time.
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June 20, 2017, 09:55:51 AM
 #10

This is another proof that the centralized mining cartel has almost complete control over BTC network. They can hard-fork the network whenever they choose to on any condition they like (heck, they can even pay some developer to increase the supply of BTC and then enforce it!). The users have no control. UASF BIP148 is a joke, the miners are laughing because they know they can split the network on August 1st with terrible consequences, regardless of the number of nodes enforcing BIP148, which absent an official core release for enforcement will never achieve the necessary number to enforce anything, anyway. A BTC hard-fork means the death of BTC and the decentralization dream of Satoshi. It's as simple as that. There will be chaos and double spending attempts on the perceived "weaker" network. The trust in BTC as a reliable payment network and an investment opportunity will go to (almost) zero. Once the basic consensus rules are broken and the chain split indefinitely, the precedent exists for more hard-forks at the miner's whim. These consensus rules are more important than "scaling" the network. I still think that Antpool is going for this in order to delay the  SegWit-only softfork implementation, and they are using this just as a stalling tactic in order to maintain their position on the market for their products as "most efficient" due to their ASICBOOST patent, which is jeopardized by SegWit. First they supported BU, now SegWit2x. SegWit by itself is a complete and effective scaling option, it opens the path for Lighning Network, the 2x hardfork is not necessary and does not make any sense as the gain would be minimal with the cost of centralizing also the network nodes.
cr1776
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June 20, 2017, 07:41:06 PM
 #11

70% is still not good enough, right? If I am not wrong, then we need a 95% consensus to implement Segwit2x. This will be extremely hard to achieve, as some of the mining pools have remained firm in their opposition to Segwit2x. Anyway, it is good to see the proportion rising from 40% to 70% in less than a month.

In practical terms, once support hits 50%+ the odds are it will snowball.  The 95% was for segwit alone.  The NY Agreement was slightly less.  August 1st seems to have put pressure on the pools to signal.
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June 20, 2017, 08:38:48 PM
 #12

70% is still not good enough, right? If I am not wrong, then we need a 95% consensus to implement Segwit2x. This will be extremely hard to achieve, as some of the mining pools have remained firm in their opposition to Segwit2x. Anyway, it is good to see the proportion rising from 40% to 70% in less than a month.

In practical terms, once support hits 50%+ the odds are it will snowball.  The 95% was for segwit alone.  The NY Agreement was slightly less.  August 1st seems to have put pressure on the pools to signal.


Every think will be first time. It's first time for that just 70% but it will be increasing day by day. After 2 month it will increase as your happyness position.
 
TraderTimm
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June 21, 2017, 03:03:55 PM
 #13

Anyone using "market cap" as a decision-making process should just throw their money out a window. It would save them time.

Blocksize?

I'm over it already. It will happen one way or another, so whatever.

The real issue is how some of the newly-rich alts will handle a BTC-style retrace from their parabolic rally. What, you thought only Bitcoin obeyed gravity? With ETH's and LTC's first major parabolic in a while, its inevitable that they get their turn in the woodshed too.

Its just how massive price increases work.

fortitudinem multis - catenum regit omnia
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