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Author Topic: [Guide] Handling splits: UASFs, BIP148, etc.  (Read 43261 times)
coldbitcoins
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July 17, 2017, 05:52:26 AM
 #241

As a miner i will be mining both coins after split and then i will mine the the more profitable coin after a couple weeks.
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July 17, 2017, 06:14:20 AM
 #242

why it could be splitted? what happens?
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July 17, 2017, 07:14:12 AM
 #243

Hi,

Has anyone seen the error in a Bitcoin QT before when trying to do:

walletpassphrase "passphrase" timeout

For example: walletpassphrase mysecretcode 60

I got a error:
Method not found (code -32601)

The current core version is being used.

I know my passcode, it's valid, that is not the problem, but I am unfamiliar with that specific error code. and why it wouldn't work to unlock the wallet within the console, but will unlock it to send funds?

I have seen in other QT wallets a repair feature.

Wondering if there may be a simple fix or a repair if even needed, to sort that out?

Any advice would be appreciated.

Thanks!

Put your question in tech support, not here.
replace "mysecretcode" with your actual password.
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July 17, 2017, 07:18:08 AM
 #244

As a miner i will be mining both coins after split and then i will mine the the more profitable coin after a couple weeks.

There will be no split, if there is, nobody cares about Konye West's "Koinye", and nobody will care about some BS coin made by some other fool either.

Bitpay will use the main bitcoin, always.

Litecoin, Koinye, and other alt coins do not have a huge pool of merchants accepting those alt coins. 

Only Bitcoin is accepted at coffee shops, overstock, purse.so, and Lamborghini dealerships.

Only Bitcoin will be, as it is, as it always will be.

Fancy talk about technical junk with fancy nick names, means nothing.

Your coin will hold it's value.  The blockchain ledger is not going to zero your account.

NO you will not double your money.  Nobody will accept yet another Alt coin remixed off the blockchain of bitcoin.

Larger block size means FASTER verifications.

Why are people so scared?
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July 17, 2017, 07:24:04 AM
 #245

why it could be splitted? what happens?

because of BIP 148 for UASF to activate SegWit

check the OP again  Wink and the UASF site for more info

if tl;dr
here are some words from the site:

"BIP148 requires support from the economic majority, particularly exchanges and wallets. If this does not occur, node software supporting BIP148 should not be run after August 1st as it will cause a chain split leading to the abandonment of BIP148..."

Interesting infographic about different BIPs support can be found on Coin.Dance site

eg about the nodes - https://coin.dance/nodes/share
and positions of the economic majority - https://coin.dance/poli

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July 17, 2017, 07:42:40 AM
 #246

I don't own much BTC myself but it would be interesting to see how it all unfolds on and after 1st Aug
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July 17, 2017, 09:08:28 AM
 #247

I got a error:
Method not found (code -32601)

That means that it doesn't recognize "walletpassphrase" as a valid command. Maybe you misspelled it.
Hi theymos,

Yea I thought the same thing, and copied it from the "help" menu which shows:

walletpassphrase "passphrase" timeout

so still unsure why it returns that error?

weird and frustrating

thanks!

***edit***

also ran a few tests and did:

walletpassphrase "passphrase" 60

Error: The wallet passphrase entered was incorrect. (code -14)


Also plugged in the correct passphrase, and it returned the original error which is weirder. - Method not found (code -32601)

So if it sees that the walletpassphrase is incorrect in the above example and using the same syntax with a correct password shows it as "Method not found (code -32601)" ?

thanks!


Are you sure you left out the ""?
As in: walletpassphrase passphrase 60
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July 17, 2017, 09:15:19 AM
 #248

Sorry if I have missed it, but why not compile a list of wallets that are *safe* or *recommended* for this event and add that into the OP? This is a question for theymos, as I've seen someone had started compiling a list somewhere in this thread. It would also be worth stickying this thread in the section (which is what I will recommend to the board moderator anyways). This will prevent:
1) Repetitive questions in the form of: "Is wallet X safe?".
2) Repetitive threads. Threads would be trashed and users would be directed to this thread.

It is clear that the majority of users are no longer people with satisfactory IT knowledge.

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July 17, 2017, 09:35:55 AM
 #249

Sorry if I have missed it, but why not compile a list of wallets that are *safe* or *recommended* for this event and add that into the OP? This is a question for theymos, as I've seen someone had started compiling a list somewhere in this thread. It would also be worth stickying this thread in the section (which is what I will recommend to the board moderator anyways). This will prevent:
1) Repetitive questions in the form of: "Is wallet X safe?".
2) Repetitive threads. Threads would be trashed and users would be directed to this thread.

It is clear that the majority of users are no longer people with satisfactory IT knowledge.

there's a danger, that  people with no satisfactory IT knowledge wouldn't be able to properly protect themselves in such situations

As the short answer/advice, I would propose to go to Bitcoin.org site and choose any of the desktop wallet which grant "full control over your money" (check the 1st line of the list)


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July 17, 2017, 09:42:18 AM
 #250

there's a danger, that  people with no satisfactory IT knowledge wouldn't be able to properly protect themselves in such situations
The reasoning is somewhat simple:
1) It's people who are refusing to learn.
2) Or people who refuse to pay someone else (regardless of the amount) to protect them.

As the short answer/advice, I would propose to go to Bitcoin.org site and choose any of the desktop wallet which grant "full control over your money" (check the 1st line of the list)


Do you really think that the users that I am referencing understand all of that? They would still ask whether "X wallet" is okay for these situations. Roll Eyes

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unthy
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July 17, 2017, 09:54:12 AM
 #251

Great thread... thanks for all the valuable information.

One question.. I have been lead to believe that if I on on Poloniex and have placed all my bitcoin on altcoins... and remove all sell orders.. just during the 12 hours before and some time after August 1.. I should be ok keeping my Poloniex account funded with coin.  I'm just not sure.  Any suggestions?

Nothing will happen to the altcoins. Except that depending on what happens to BTC, the price of altcoins could drastrically change.

So there is no saying how much you will gain or lose with this strategy.

                                 
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July 17, 2017, 09:55:55 AM
 #252


Do you really think that the users that I am referencing understand all of that? They would still ask whether "X wallet" is okay for these situations. Roll Eyes

Just tell 'em: get the desktop wallet with the green 1st line, put you BTC there before the 1st of August and do not touch until the 15th of November (when the BIP 148 stops), than everything would be OK

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July 17, 2017, 10:58:20 AM
 #253

Great thread... thanks for all the valuable information.

One question.. I have been lead to believe that if I on on Poloniex and have placed all my bitcoin on altcoins... and remove all sell orders.. just during the 12 hours before and some time after August 1.. I should be ok keeping my Poloniex account funded with coin.  I'm just not sure.  Any suggestions?

Nothing will happen to the altcoins. Except that depending on what happens to BTC, the price of altcoins could drastrically change.

So there is no saying how much you will gain or lose with this strategy.

What about altcoins that are running on BTC like Factom.
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July 17, 2017, 12:10:48 PM
 #254


Do you really think that the users that I am referencing understand all of that? They would still ask whether "X wallet" is okay for these situations. Roll Eyes

Just tell 'em: get the desktop wallet with the green 1st line, put you BTC there before the 1st of August and do not touch until the 15th of November (when the BIP 148 stops), than everything would be OK
But theymos mentioned in his post twelve hours before 1st of August and twelve hours after! to be able to send and receive bitcoin transaction.


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PRE-SALE STARTS
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  24th Sept 2017 
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July 17, 2017, 12:41:38 PM
 #255

Fearmongering non-sense thread.

NOTHING will happen to the bitcoins you own as long as you keep them in your own wallet. And IF a split happens, which the chances of it happening are slim to none, you get to have all bitcoins that result from the split.
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July 17, 2017, 01:01:29 PM
 #256


Just tell 'em: get the desktop wallet with the green 1st line, put you BTC there before the 1st of August and do not touch until the 15th of November (when the BIP 148 stops), than everything would be OK
But theymos mentioned in his post twelve hours before 1st of August and twelve hours after! to be able to send and receive bitcoin transaction.

we've been talking about advices to the "people with no satisfactory IT knowledge" Smiley presumably - "hodlers"

as long as there are active BIP148 nodes in the network - the split danger remains.

I think that uasf.co won't get the support needed for the BIP 148 activation by the 1st of August, so there won't be any Bitcoin split, apart from HitBTC and Bitfinex   Grin
the results depend on the people with power - miners, wallets and exchanges - and being human they can act irrationally sometimes, that's why society needs decentralisation

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July 17, 2017, 01:28:29 PM
 #257

Guys don't be naive. Nothing will happen and those who panic until August 1. will lose they $$$.  Grin

Right now miners will not go for BIP 141. they will do segwit2x and bitcoin will fork. they don't like Bitcoin Core team. Bitcoin price already dropping.

segwit2x is compatible with BIP 141 until hardfork to 2 MB blocks occur. And 2 MB HF on segwit2x planned only 3 month after segwit activation. That is by November as the earliest.
No danger of fork/split from segwit2x before this point.

And IF segwit2x is succeed in segwit activation before 1st august there will be no risk of a split from BIP148(UASF) either.

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July 17, 2017, 01:30:44 PM
 #258

Let's say I've got keep 1btc in my balance on 1 August will I get 3 btc after the split end?

No. 1st August only one fork at worse is going to happen, AFAIK, so you will hold 2 coins. And they will not be 2 BTC. They will be 1 BTC and 1 "forkBTC". With an unknown value.

                                 
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July 17, 2017, 01:45:00 PM
 #259

Every Bitcoin transfer, no matter how tiny, creates a transaction. But blocks are limited not just by time, but by size: they cannot exceed 1MB in the current system. Currently, they’re about 400KB, but occasionally peak towards 1MB. Once transactions start to accumulate continuously at a rate faster than the number that can be baked into a 1MB block within that roughly 10-minute schedule, all sorts of terrible things will start happening, resulting in the worst case in a sort of currency meltdown.
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July 17, 2017, 01:47:13 PM
 #260

You would need to perform these commands with the block at the height of the fork on each chain.

For example, suppose that chain A has a block with the hash abcdef at the height of the fork. Suppose that chain B has a block with the hash 123456 at the height of the fork.

To use chain A, you would do
Code:
invalidateblock 123456
reconsiderblock abcdef

To use chain B, you would do
Code:
invalidateblock abcdef
reconsiderblock 123456

You can use those commands to switch back and forth between blockchains.

Note that switching back and forth may result in some undefined behavior and bugs. Since such a fork has not happened before, this method has not been tested in practice. Your mileage may vary.

Thank you very much for making this SO clear! I now understand where I got it wrong: I was thinking that the invalidateblock used the block height, so not sure how that would be different from any blockchain main or fork, but clarifying that I must use the block hash it makes perfect sense so that the specific "old" block would be identified to be removed, and the new one would start to be considered.

And now the only thing left to test is if there is a way to run two instances of Bitcoin core in the same machine...

Yes, of course. You just need to use 2 different data folders for it. And point Bitcoin Core to these 2 separate folders by command line option -datadir=....
For example 2 data folder on disk D: bitcoin-1 and bitcoin-2. Create 2 shortcuts/links to Bitcoin core with different options:

bitcoin-qt.exe -datadir=D:\bitcoin-1
bitcoin-qt.exe -datadir=D:\bitcoin-2

If you already use Bitcoin Core with default settings - you current data folder in your user directory. You can make copy of it to a new folder to avoid downloading / sync whole blockchain twice.

Не зная покоя и отдыха, При лунном и солнечном свете, Мы делаем деньги из воздуха, Чтоб снова спустить их на ветер!
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