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Author Topic: [2017-07-18] Bitcoin Chain Split & Hard Fork Not Likely  (Read 3393 times)
iamTom123
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July 18, 2017, 01:42:49 PM
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Miners, the development community and businesses have finally agreed on a scaling solution. Over 63 percent of bitcoin’s hash power is now signaling for the activation of Bitcoin Improvement Proposal (BIP) 91 or Segwit.

Since early July, traders and investors have panicked due to the possibility of a potential hard fork execution and chain split, an event in which the bitcoin blockchain splits into two and creates two bitcoins.

However, since then, the scaling debate has seen significant progress, mostly because of the pressure of the community’s user activated soft fork (UASF) proposal and Barry Silbert-led Digital Currency Group’s Segwit2x proposal.

The general consensus amongst the community and industry in regard to the codebase of Segwit2x was that it was not ready for activation, production and implementation. It lacked testing and the timeline was highly unrealistic. As a result, the mining community has agreed on activating BIP 91, a solution created by James Hilliard.

BIP, also known as the “Reduced threshold Segwit MASF,” is very similar to the original Segwit Bitcoin Improvement Proposal. The difference is that it allows miners to activate Segwit with a majority threshold that is lower than 95 percent.

The motivation of the BIP 91 was that the redeployment of Segwit will require significant testing and will ultimately delay the activation of Segwit, which is a viable and practical solution to many existing problems.

FULL ARTICLE HERE.


This is actually the big good news which many of us have been waiting for. And now the market is slowly reacting to this reality as the value is now inching up to the $2,300 level away from below $2,000 which it breached almost two days. Well, this can be the signal that soon Bitcoin is finally ready to make a great acceleration in value. Let us just hope that after August 1, things can get smooth and there would anymore of the usual problems we experienced before.

There would always be new challenges and I think by this time the whole Bitcoin community is very much ready to handle any problem Bitcoin can soon encounter. We should look at this stage of the Bitcoin history as full of lessons we should never forget.

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July 18, 2017, 02:15:46 PM
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I read this news and it is good news, it is in these times that I miss the trollbox because the news was very fast.

At least in the last hours the price shows an increase

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