SegWit made in China! Fork incoming?

[gio3442]

Chinese pools (80% of the hashrate) have started signaling for their own version of SegWit (SegWit2x)! Is a fork incoming?

[TryNinja]

https://www.reddit.com/r/Bitcoin/comments/6i6p8v/introducing_presignalling/

I'm just going to cp this reddit thread in here:

This is what is happening right now.

Antpool, BTC.com and other companies found here are just **Pre-Signalling.**

This means they are writing into the blocks they mine that they intend to start signalling NYA at some point.

It is nothing more than a statement of intent.

**Signalling** is when bits get flipped - like Bixin started doing today

Please can we start using this nomenclature?

Thanks!

More detailed explanation found here

[gio3442]

Signaling is what's activating the fork though.

[Yakamoto]

Signaling is what's activating the fork though.

Yes, but the fork is not yet being implemented and we're not seeing any major differences beyond some pools stating their intent of giving their hashing power to Segwit, which is exactly what "pre-signaling" is according to the Redditor's definition.

It's not really something that I'd expect to spread within the community unless everyone starts calling the signaling we see "pre-signaling" but it has potential.

[HabBear]

This is ultimately just an attack on the online wallets. The impending, looming fork that is. Everyone must flee the convenience of their online wallets to the safety of their private keys.

There's a lot of great qualified opinion pieces floating around. Here's a good one from Jimmy Song and there are others once you've scrolled through his: https://medium.com/@jimmysong/segwit2x-what-you-need-to-know-b747e6326266

The biggest challenge for the rest of us, those who don't come from a developer background or depth of knowledge, is that there's obviously a strong difference in opinion in how the bitcoin infrastructure should exist in the future. This inherently leads to a lot of difference in opinion in what to do with one's bitcoin today. It so bad that it could almost leave someone to do nothing at all, out of simple paralysis from all the analysis.

[Cruxer]

Chinese pools (80% of the hashrate) have started signaling for their own version of SegWit (SegWit2x)! Is a fork incoming?

not sure about this segwit2x, segwit i accept, this 2x cant find it to determined what it is
this is a trick to make fool of bitcoin ursers im afraid

[gio3442]

Chinese pools (80% of the hashrate) have started signaling for their own version of SegWit (SegWit2x)! Is a fork incoming?

not sure about this segwit2x, segwit i accept, this 2x cant find it to determined what it is
this is a trick to make fool of bitcoin ursers im afraid

I think that it's a good compromise. The fork is far in the future anyways. We might be seeing SegWit soon thanks to this agreement.

[Sithara007]

I think that it's a good compromise. The fork is far in the future anyways. We might be seeing SegWit soon thanks to this agreement.

Yes. Some sort of a compromise was needed, and they achieved it in the end. Else, the alts could have overtaken Bitcoin and the BTC would have become obsolete. Just waiting for the implementation of SegWit2x now... hope that it will be done without much issues.