UPDATED: Segwit and the August 1st and SegWit2x fork explained in simple terms

[andresmarulanda]

What do you think about change bitcoin to another cryptocurrency on 1 august or before?

[Mad7Scientist]

What do you think about change bitcoin to another cryptocurrency on 1 august or before?

It's not changing in to a new coin (hard fork) until after SegWit2x activates and the scheduled hard fork happens around October.

[xbiv2]

Okcoin also releases hes position:
https://www.okcoin.com/t-423.html
More about it in my signature:

[sxafir]

Thanks for explanation but notice antminers will be useles.

Only for the useless Core altcoin. They will still be working great for actual Bitcoin!

My wrong,antminer useless minus % off patch bitmain in orginal btc.

[Sithara007]

Okcoin also releases hes position:
https://www.okcoin.com/t-423.html
More about it in my signature:

This is going to be very very important:

3. If Bitcoin is split into several blockchains, OKCoin will for every blockchain give users their rightful ownership of their coins. In addition, OKCoin will take steps to support trading for every type of Bitcoin.

So at least one of the exchanges are going to support all the chains.

[Mad7Scientist]

Time to add some information about BCC (Bitcoin Cash).

[Olivious]

Great topic. I understand more whats happening in the blockchain, you compiled all the news to make it short.

So august 1 should be ignored now? Segwit is 100% now.

[JNiks_ZLisa]

Why you ignore BITCOIN-CORE OF 2014 ?

https://bitcointalk.org/index.php?topic=2044085.0

[Mad7Scientist]

RE: BITCOIN CORE OF 2014
I know that SegWit support has been added in 0.13 but that shouldn't really affect anyone who isn't mining. If you're mining you have to have it else your blocks will be rejected but since it's a soft fork it's not supposed to affect the amount of coins in your wallet or your ability to send and receive on any version of the client.

Great topic. I understand more whats happening in the blockchain, you compiled all the news to make it short.

So august 1 should be ignored now? Segwit is 100% now.

Yes I think it can be ignored. BIP148 defunct now. But I think at least BCC will hard fork off on the 1st of April so if you want to sail in that ship you need your coins in your wallet now to have your coins with them too.

It's nice when people reply then this thread goes to the top for another 5 minutes and more people get to see it.

[decryptionary]

I've had a hard time grasping what's happening, but I think I finally get the picture. I thought it would be helpful to explain in simple terms what's going on. The situation is quite complicated with SegWit2x entering the picture so this is long but it should still be simple with minimal confusion due to interchanging terminology. If you like it please leave a comment to boost it so that other people can read it too.

This is a pretty fantastic resource you made here OP! If you don't mind, I'd like to use it as a resource in adding to and updating some of my definitions in Decryptionary.com?

[Mad7Scientist]

This is a pretty fantastic resource you made here OP! If you don't mind, I'd like to use it as a resource in adding to and updating some of my definitions in Decryptionary.com (http://Decryptionary.com)?

Sure go ahead.