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Author Topic: Segwit2X / chain split question  (Read 970 times)
Chandu141
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July 18, 2017, 08:53:46 AM
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Keeping btc on core Wallet .. until the split issue. What happens after August 1st.. can btc sent to exchanges and / other btc address from core Wallet without any issues?

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July 18, 2017, 09:03:32 AM
 #2

August first has nothing to do with Segwit2x. Segwit2x can cause a chain split before August 1st. The effects of a segwit2x chain split and a BIP 148 chain split on August 1st will be fairly similar, so read this thread: https://bitcointalk.org/index.php?topic=2012799.0

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July 18, 2017, 09:07:24 AM
 #3

check out this article on AUG 1 http://cryptocanucks.com/surviving-bitcoins-segwit-activation-august-1st/
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July 18, 2017, 09:08:11 AM
 #4

August first has nothing to do with Segwit2x. Segwit2x can cause a chain split before August 1st. The effects of a segwit2x chain split and a BIP 148 chain split on August 1st will be fairly similar, so read this thread: https://bitcointalk.org/index.php?topic=2012799.0

What? I thought that whole point from this is to not have a chain split, If they achieve the 80% and activate it before 1st August, how Is it possible to have a chain split in this case? and why would even UASF take place since the goal was to activate SegWit, and SegWit2x brought that before UASF.

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July 18, 2017, 09:15:32 AM
 #5

August first has nothing to do with Segwit2x. Segwit2x can cause a chain split before August 1st. The effects of a segwit2x chain split and a BIP 148 chain split on August 1st will be fairly similar, so read this thread: https://bitcointalk.org/index.php?topic=2012799.0

What? I thought that whole point from this is to not have a chain split, If they achieve the 80% and activate it before 1st August, how Is it possible to have a chain split in this case? and why would even UASF take place since the goal was to activate SegWit, and SegWit2x brought that before UASF.

Well my main question is, can I keep btc on local core Wallet until this confusion gets clear.. ?

Later after August or may be in September I will be able to send btc to anyother bitcoin address?

I mean if split happens, core Wallet will be having btc and the other Will be called as what and what type of address..

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July 18, 2017, 01:27:07 PM
 #6

August first has nothing to do with Segwit2x. Segwit2x can cause a chain split before August 1st. The effects of a segwit2x chain split and a BIP 148 chain split on August 1st will be fairly similar, so read this thread: https://bitcointalk.org/index.php?topic=2012799.0

What? I thought that whole point from this is to not have a chain split, If they achieve the 80% and activate it before 1st August, how Is it possible to have a chain split in this case? and why would even UASF take place since the goal was to activate SegWit, and SegWit2x brought that before UASF.

Because although they have the majority of hashrate segwit2x, the economic majority(nodes) segwit will be rejecting the blocks that will be different and larger than what was originally proposed by segwit, not having the same rules of consensus will only result in different chains unless one or the other change of opinion which I do not think is going to happen.

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Chandu141
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July 18, 2017, 01:38:36 PM
 #7

No one is answering my questions here..

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July 18, 2017, 01:50:09 PM
 #8

Well my main question is, can I keep btc on local core Wallet until this confusion gets clear.. ?
Yes.
Later after August or may be in September I will be able to send btc to anyother bitcoin address?
Even if there is a split with both chains continuing, I would expect everything to be fine after 2nd August and people will be able to choose which coin they want to use.

I mean if split happens, core Wallet will be having btc and the other Will be called as what and what type of address..
I can't say what the other will be called. However, the address that you have on the old chain will remain the same.














 

 

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July 18, 2017, 01:54:21 PM
 #9

August first has nothing to do with Segwit2x. Segwit2x can cause a chain split before August 1st. The effects of a segwit2x chain split and a BIP 148 chain split on August 1st will be fairly similar, so read this thread: https://bitcointalk.org/index.php?topic=2012799.0

What? I thought that whole point from this is to not have a chain split, If they achieve the 80% and activate it before 1st August, how Is it possible to have a chain split in this case? and why would even UASF take place since the goal was to activate SegWit, and SegWit2x brought that before UASF.

Well my main question is, can I keep btc on local core Wallet until this confusion gets clear.. ?

Later after August or may be in September I will be able to send btc to anyother bitcoin address?

I mean if split happens, core Wallet will be having btc and the other Will be called as what and what type of address..

just keep it in a wallet that you can control the private key,
so even the split happens, you still have control of your own bitcoins

Chandu141
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July 18, 2017, 04:10:38 PM
 #10

August first has nothing to do with Segwit2x. Segwit2x can cause a chain split before August 1st. The effects of a segwit2x chain split and a BIP 148 chain split on August 1st will be fairly similar, so read this thread: https://bitcointalk.org/index.php?topic=2012799.0

What? I thought that whole point from this is to not have a chain split, If they achieve the 80% and activate it before 1st August, how Is it possible to have a chain split in this case? and why would even UASF take place since the goal was to activate SegWit, and SegWit2x brought that before UASF.

Well my main question is, can I keep btc on local core Wallet until this confusion gets clear.. ?

Later after August or may be in September I will be able to send btc to anyother bitcoin address?

I mean if split happens, core Wallet will be having btc and the other Will be called as what and what type of address..

just keep it in a wallet that you can control the private key,
so even the split happens, you still have control of your own bitcoins

now i see Warning: Unknown block versions being mined! It's possible unknown rules are in effect

are my coins safe ?

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July 18, 2017, 05:14:51 PM
 #11

now i see Warning: Unknown block versions being mined! It's possible unknown rules are in effect

are my coins safe ?

They are safe and there is nothing to be worried about, If you see the news on the top of the forum page you will see this message:

Code:
The warning which may be displayed by Bitcoin Core about unknown versions is related to BIP91, and can be safely ignored.

Chandu141
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July 18, 2017, 08:14:03 PM
 #12

now i see Warning: Unknown block versions being mined! It's possible unknown rules are in effect

are my coins safe ?

They are safe and there is nothing to be worried about, If you see the news on the top of the forum page you will see this message:

Code:
The warning which may be displayed by Bitcoin Core about unknown versions is related to BIP91, and can be safely ignored.

wonderful! Thanks to you and all the Legendary People who are sharing the knowledge in time.

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July 19, 2017, 11:10:25 PM
 #13

August first has nothing to do with Segwit2x. Segwit2x can cause a chain split before August 1st. The effects of a segwit2x chain split and a BIP 148 chain split on August 1st will be fairly similar, so read this thread: https://bitcointalk.org/index.php?topic=2012799.0

What? I thought that whole point from this is to not have a chain split, If they achieve the 80% and activate it before 1st August, how Is it possible to have a chain split in this case? and why would even UASF take place since the goal was to activate SegWit, and SegWit2x brought that before UASF.

It become my concern too, if segwit2x could be activated before August 1st but doesn't mean it will be activated until bip91 reach over 80% threshold and must be reached 336 blocks within this period and miners signaling with bit 4 in the block. So, it means segwit2x will be activated soon, as I've read about it, maybe it will be activated within 2 days, and bip148 on August 1st doesn't matter anymore, or am I wrong?

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July 20, 2017, 02:16:57 AM
 #14

What? I thought that whole point from this is to not have a chain split, If they achieve the 80% and activate it before 1st August, how Is it possible to have a chain split in this case? and why would even UASF take place since the goal was to activate SegWit, and SegWit2x brought that before UASF.
Multiple chain splits can occur when the 80% of miners orphan the blocks of the 20% who are not signaling for segwit. While this may not result in a persistent chain fork, there can and likely will be mini forks and longer orphan chains. This problem is also exacerbated by spy mining (where miners begin building on a new block before validating it) and by the short confirmation window of BIP 91. The short window means that BIP 91 could activate with less than 80% hash rate support.

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