Bitcoin Forum
December 05, 2022, 01:32:40 PM *
News: Bitcointalk Community Awards
 
   Home   Help Search Login Register More  
Pages: [1]
  Print  
Author Topic: What changes should be expected with the implementation of SegWit2x?  (Read 342 times)
Ways2MakeMoney (OP)
Newbie
*
Offline Offline

Activity: 35
Merit: 0


View Profile WWW
July 21, 2017, 10:57:55 PM
 #1

What changes should be expected with everything pertaining to bitcoin and altcoins with the implementation of segwit2x?
1670247160
Hero Member
*
Offline Offline

Posts: 1670247160

View Profile Personal Message (Offline)

Ignore
1670247160
Reply with quote  #2

1670247160
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
skyline247
Hero Member
*****
Offline Offline

Activity: 700
Merit: 500



View Profile
July 21, 2017, 11:48:15 PM
Last edit: July 25, 2017, 10:29:00 PM by skyline247
 #2

What changes should be expected with everything pertaining to bitcoin and altcoins with the implementation of segwit2x?

  Since no one has answered this yet, I guess I will.

  First off, we may very well see some major fluctuations in price. Either up or down, expect there to be significant change as we just saw with the implementation of BIP91. In the past 24 hours, Bitcoin went from $2,000 up to almost $3,000. IN 24 HOURS!
  While I am not an expert in the underlying technology of the blockchain, I can tell you as a day trader that this FUD is not good for Bitcoin overall. Only when it is finally done with can we continue growing towards $10,000 and beyond. Hope this answers your question, or at least in part.
Mad7Scientist
Sr. Member
****
Offline Offline

Activity: 373
Merit: 262


View Profile
July 22, 2017, 12:02:42 AM
Last edit: July 24, 2017, 03:16:35 PM by Mad7Scientist
 #3

1) Fewer people running full nodes because of the increased size of the blockchain and more CPU and RAM needed to keep the blockchain in sync, leading to more centralization.
2) The existance of Bitcoin classic BTC and BTB or whatever they'll call it if it doesn't steal the original Satoshi Bitcoin name.

My system is struggling to keep up with 2.5GB of RAM and a mechanical hard drive. The 2016 and 2017 blockchain really starts to drag down on I/O reads. As the existing 1MB per block chain gets longer it seems to need more RAM. People say that it's fine just use a solid state drive, then people say that having 10MB blocks will be fine because a 2TB hard drive is $70 or whatever. But that's a MECHANICAL HARD DRIVE for $70. A SSD costs [edit: >8] times as much! Runing a full node is already requires a major portion of resources on a newer computer. This could be worse than people think!
senin
Full Member
***
Offline Offline

Activity: 938
Merit: 137



View Profile
July 22, 2017, 03:34:29 AM
 #4

b:It is believed that the software SegWit2x will solve the issue with the scaling bitcoin.This will allow it to develop and grow in price
CryptoBry
Sr. Member
****
Offline Offline

Activity: 1008
Merit: 355



View Profile
July 22, 2017, 03:38:29 AM
 #5

1) Fewer people running full nodes because of the increased size of the blockchain and more CPU and RAM needed to keep the blockchain in sync, leading to more centralization.
2) The existance of Bitcoin classic BTC and BTB or whatever they'll call it if it doesn't steal the original Satoshi Bitcoin name.

My system is struggling to keep up with 2.5GB of RAM and a mechanical hard drive. The 2016 and 2017 blockchain really starts to drag down on I/O reads. As the existing 1MB per block chain gets longer it seems to need more RAM. People say that it's fine just use a solid state drive, then people say that having 10MB blocks will be fine because a 2TB hard drive is $70 or whatever. But that's a MECHANICAL HARD DRIVE for $70. A SSD costs >8 3 times as much! Runing a full node is already requires a major portion of resources on a newer computer. This could be worse than people think!

Thanks for sharing some facts on the possible changes that must be made with the coming implementation of SegWit2x. I am not actually a technical person and I am struggling with all of these information coming from all direction. I now realize that these changes can take time because not all are prepared for this as days ago there was no clear decision yet on what can be implemented. Well, we are just hoping that eventually things will get smooth and well.
pooya87
Legendary
*
Offline Offline

Activity: 2926
Merit: 7830


INO340 Telescope


View Profile
July 22, 2017, 03:42:11 AM
 #6

implementation of SegWit:
- end of a very long scaling debate that was keeping bitcoin back from a lot of things.
- possibly end of the spam attack since many believe it was because of the debate => empty mempool, low fees
- read the rest here: https://bitcoincore.org/en/2016/01/26/segwit-benefits/

price:
it will rise because of the first reason i mentioned, adoption will grow more and the stopping of FUD will mean increased price.

as for altcoins:
they will probably drop in price, since bitcoin will start taking all the attention since the issues will no longer exist and altcoin market may enter another long bear mode.

the 2x part:
will most probably start another debate that may not last long. can't say how it will end though!

Pages: [1]
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!