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Author Topic: When do we know bitcoin is safe? Segwit  (Read 1113 times)
xbiv2
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July 18, 2017, 07:34:27 PM
 #21

Bitcoin protected with many people:
1. Miners (not only mining pools but miners itself, miner select pool with policy he accept)
2. Exchangers (at now main giver of price to Bitcoin)
3. Mining pools.
No one of this people want bad for bitcoin.
Not trust to bitcoin-core developers and use bitcoin-core of 2014 https://github.com/bitcoin/bitcoin/releases/tag/v0.9.1
And wait until everything will clears up.
----
Have all answers about Aug 1.
Easy topic:
https://bitcointalk.org/index.php?topic=2007635.msg19988238#msg19988238
Complex topic:
https://bitcointalk.org/index.php?topic=2018878.msg20119234#msg20119234


Blastful
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July 18, 2017, 08:57:37 PM
 #22

A few days after Aug 1st the storm should have calmed. As mentioned in previous posts, keep checking this forum for constant and reliable updates especially by Theymos, the Administrator. I have however decided to keep my btc. No panic selling. I will hold on, come what may!
hassanabid
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July 24, 2017, 04:32:05 PM
 #23

Don't panic, but your Bitcoins may just vanish into the ether next month
Well, actually, do panic. A pending code change could bring a period of instability
The community-driven organization overseeing Bitcoin on Wednesday warned that any Bitcoins received after Monday, July 31, 2017 at GMT-0700 may vanish into thin air or be rejected as invalid.

Bitcoin.org said that at the end of the month, Bitcoin confirmation scores – a number that represents the difficulty of altering the associated transaction – may become unreliable for an unknown period.

"This means that any Bitcoins you receive after that time may later disappear from your wallet or be a type of Bitcoin that other people will not accept as payment," the group said.

The reason for this "potential network disruption" is Bitcoin Improvement Proposal 148 (BIP 148), which describes a "user-activated soft fork" (UASF). It's an effort to implement a code revision referred to as a Segregated Witness, or SegWit, a method for separating signature data from transaction identifier data in a Bitcoin transaction.

Doing so offers a number of ostensible benefits, including increasing the Bitcoin blocksize, limiting the extent to which transaction data can be modified by third parties, and simplifying scripting upgrades.

The SegWit operation depends on the consensus of Bitcoin miners. If a majority of the Bitcoin miners signal their support through their mining activity, the change should become active across all compatible Bitcoin clients.

But if BIP 148 is only embraced by a minority, the blockchain could split. That would create a situation where BIP 148 Bitcoins and legacy Bitcoins would be incompatible.
butragenjo
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July 24, 2017, 05:05:10 PM
 #24

I worried about this,if someone changed btc code Undecided
kpcian
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July 24, 2017, 05:05:40 PM
 #25

from then I got involved with Bitcoin very first time. basically, I was taught about Bitcoin from my cousins, he completely confident about its credibility because of his tight involvement and his experience. so do i.
from my perspective, Bitcoin should be more credible and reliable than what is it now. because people always choose the safe side.
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