Panic 31-J

[telematico]

on July 12, the community of Bitcoin.org issued a statement on its page informing about the possible hardfork of Bitcoin on July 31 of this year (Jul 31 2017 20:00: 00 GMT-0400) and its implications: a portion of the Bitcoin nodes will run software that will be incompatible with the other portion, resulting in confirmations in the Bitcoin network becoming "unreliable" indefinitely. Which means that any amount of bitcoins that are received or sent just after or during the event may disappear later from the digital portfolio, or become a kind of bitcoin that other people or businesses will not accept as payment.

What do you think ?

[Chris314]

If I  understood well, only transactions that are made while hard fork (around 12h pm gmt on August 1st) could never be confirmed. Once forks are separated, everything should be fine again in each fork.

[onepix]

If I  understood well, only transactions that are made while hard fork (around 12h pm gmt on August 1st) could never be confirmed. Once forks are separated, everything should be fine again in each fork.

If there is an hardfork, transactions could be nicely separated which makes it clear without messed it up.
If I'm right, only when there is a chain split (which is not hard fork), things could be tricky because at some point one of two branch will just be wipe out by the other which has achieve more computing power/ has the greatest difficulty of POW

[BillyBobZorton]

If I  understood well, only transactions that are made while hard fork (around 12h pm gmt on August 1st) could never be confirmed. Once forks are separated, everything should be fine again in each fork.

If there is an hardfork, transactions could be nicely separated which makes it clear without messed it up.
If I'm right, only when there is a chain split (which is not hard fork), things could be tricky because at some point one of two branch will just be wipe out by the other which has achieve more computing power/ has the greatest difficulty of POW

That was the risk of the UASF BIP148 idea. If UASF BIP148 took traction, this would mean that the legacy chain would be wiped out forever, and only BIP148 UASF chain would survive and that would become de-facto BTC.

The good side is that you avoid the possibility of 2 bitcoins forever, the bad side is that if you are on the legacy chain and you sold your 148 coins for BTC you risk lossing it all.

Luckily, BIP148 is now out of the picture. I wouldn't worry about BCC at all.

If you want to worry, worry about november's supposed hardfork to segwit2x... now that 's something I don't see clear at all. I hope the NYA camp gets convinced of the mistake of hardforking in 3 months.

[panju1]

on July 12, the community of Bitcoin.org issued a statement on its page informing about the possible hardfork of Bitcoin on July 31 of this year (Jul 31 2017 20:00: 00 GMT-0400) and its implications: a portion of the Bitcoin nodes will run software that will be incompatible with the other portion, resulting in confirmations in the Bitcoin network becoming "unreliable" indefinitely. Which means that any amount of bitcoins that are received or sent just after or during the event may disappear later from the digital portfolio, or become a kind of bitcoin that other people or businesses will not accept as payment.

What do you think ?

The news ticker at the top seems to tell us there is no reason to panic.
BIP91 seems stable: there's probably only slightly increased risk of confirmations disappearing.
I will still take it slow on the transaction front on August 1.

[yinoye]

on July 12, the community of Bitcoin.org issued a statement on its page informing about the possible hardfork of Bitcoin on July 31 of this year (Jul 31 2017 20:00: 00 GMT-0400) and its implications: a portion of the Bitcoin nodes will run software that will be incompatible with the other portion, resulting in confirmations in the Bitcoin network becoming "unreliable" indefinitely. Which means that any amount of bitcoins that are received or sent just after or during the event may disappear later from the digital portfolio, or become a kind of bitcoin that other people or businesses will not accept as payment.

What do you think ?

it is safer to not send big amount of bitcoins till the network is settled

[yinoye]

That was the risk of the UASF BIP148 idea. If UASF BIP148 took traction, this would mean that the legacy chain would be wiped out forever, and only BIP148 UASF chain would survive and that would become de-facto BTC.

The good side is that you avoid the possibility of 2 bitcoins forever, the bad side is that if you are on the legacy chain and you sold your 148 coins for BTC you risk lossing it all.

Luckily, BIP148 is now out of the picture. I wouldn't worry about BCC at all.

If you want to worry, worry about november's supposed hardfork to segwit2x... now that 's something I don't see clear at all. I hope the NYA camp gets convinced of the mistake of hardforking in 3 months.

After Aug 1, will BTC and BCC be on the same chain ?
And does the supposed Nov harddork mean the possibility of having 2 bitcoins on entirely different chains or nodes ??

[telematico]

Bitcoin Cash is an alternative token that may come into existence as a result of a planned UAHF as mentioned above. Essentially this means that the Bitcoin blockchain may split into two competing chains.

The original plan for a UAHF came about from a contingency plan, proposed by Bitcoin mining company, Bitmain, who were opposed to the UASF for SegWit.




Bitcoin Cash will differ from Bitcoin in terms of the following:

SegWit: Bitcoin Cash will not implement SegWit
Blocksize: Immediate increase from 1MB to 8MB
Coexistence: Replay and wipe out protections ensures that should the two chains continue to compete, Bitcoin Cash aims to reduce user disruption and allows for the safe existence of two chains.

[BillyBobZorton]

That was the risk of the UASF BIP148 idea. If UASF BIP148 took traction, this would mean that the legacy chain would be wiped out forever, and only BIP148 UASF chain would survive and that would become de-facto BTC.

The good side is that you avoid the possibility of 2 bitcoins forever, the bad side is that if you are on the legacy chain and you sold your 148 coins for BTC you risk lossing it all.

Luckily, BIP148 is now out of the picture. I wouldn't worry about BCC at all.

If you want to worry, worry about november's supposed hardfork to segwit2x... now that 's something I don't see clear at all. I hope the NYA camp gets convinced of the mistake of hardforking in 3 months.

After Aug 1, will BTC and BCC be on the same chain ?
And does the supposed Nov harddork mean the possibility of having 2 bitcoins on entirely different chains or nodes ??

Hardfork = 2 different chains. So you can consider BCC to be an altcoin. It may share the same blockchain up to the point of the split, but from now on, BCC is an altcoin. BTC remains the original bitcoin, so sell your BCC in exchange for BTC at our own peril.

If in 1 nov there's a hardfork to segwit2x, there's a possibility we'll have 3 freaking bitcoins. I hope the segwit2x gets nowhere and they decide not to hardfork because we'll see a price crash again.

[maeusi]

That was the risk of the UASF BIP148 idea. If UASF BIP148 took traction, this would mean that the legacy chain would be wiped out forever, and only BIP148 UASF chain would survive and that would become de-facto BTC.

The good side is that you avoid the possibility of 2 bitcoins forever, the bad side is that if you are on the legacy chain and you sold your 148 coins for BTC you risk lossing it all.

Luckily, BIP148 is now out of the picture. I wouldn't worry about BCC at all.

If you want to worry, worry about november's supposed hardfork to segwit2x... now that 's something I don't see clear at all. I hope the NYA camp gets convinced of the mistake of hardforking in 3 months.

After Aug 1, will BTC and BCC be on the same chain ?
And does the supposed Nov harddork mean the possibility of having 2 bitcoins on entirely different chains or nodes ??

Hardfork = 2 different chains. So you can consider BCC to be an altcoin. It may share the same blockchain up to the point of the split, but from now on, BCC is an altcoin. BTC remains the original bitcoin, so sell your BCC in exchange for BTC at our own peril.

If in 1 nov there's a hardfork to segwit2x, there's a possibility we'll have 3 freaking bitcoins. I hope the segwit2x gets nowhere and they decide not to hardfork because we'll see a price crash again.

Another hardfork in november also could bring us a second free interesting altcoin. But can't imagine it would let bitcoin crash.

[telematico]

exchanges such as Bitfinex, Kraken, Bittrex, OKCoin, HitBTC, Bithumb, Livecoin, Allcoin and of course ViaBTC have shown their support for the use of Bitcoin Cash after the bifurcation. All those who have expressed that after August 1 credit their users that had accounts in BTC before the fork, with an equivalent amount of BCC.

Some such as Bitfinex and Bittrex leave the door open to allowing BCC operations in the future, after analyzing this option after August 1. The ones that are safe all over the world and the houses HitBTC and Kraken, which companies qualified with BCC just after the UAHF. They also agree and discontinue operations with BTC while conducting this event, promising to enable them again as soon as they consider it safe for their users.

Going into the details, Bitfinex mentions that it uses a policy of response to the different bifurcations that are traditionally raised by the particularities that characterize this fact. The distribution of Bitcoin Cash (which will be called BCH to avoid confusion with the Bitcoin Core token that already exists on its platform) is done under a scheme based on the margins of purchase / sale of each customer owned by BTC, and its position as Lender On the other hand HitBTC, in its operations already available with Bitcoin Cash, will call it BCCF, equivalent to a future of cash Bitcoin, and will become BCC after August 1st.

[telematico]

Indian Bitcoin Exchanges Announce They Won’t Support Bitcoin Cash
Three of Indian’s top bitcoin exchanges have revealed that they won’t be supporting Bitcoin Cash, the new digital currency that is expected to result from a user activated hard fork (UAHF) on the 1 August.

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The three exchanges that have made the announcements are Zebpay, Unocoin and Coinsecure. As well as stating that they have no plans to support Bitcoin Cash, all three will be suspending bitcoin services during the planned hard fork.

[ParRus]

The three exchanges that have made the announcements are Zebpay, Unocoin and Coinsecure. As well as stating that they have no plans to support Bitcoin Cash, all three will be suspending bitcoin services during the planned hard fork.

They do not make the weather
As we see now a stable bitcoin price
There is no reason to worry

[unsoindovo]

If I  understood well, only transactions that are made while hard fork (around 12h pm gmt on August 1st) could never be confirmed. Once forks are separated, everything should be fine again in each fork.

this is interesting!
can you share where did you read this to deepen inside and understand better?
thank you.

[leirou]

on July 12, the community of Bitcoin.org issued a statement on its page informing about the possible hardfork of Bitcoin on July 31 of this year (Jul 31 2017 20:00: 00 GMT-0400) and its implications: a portion of the Bitcoin nodes will run software that will be incompatible with the other portion, resulting in confirmations in the Bitcoin network becoming "unreliable" indefinitely. Which means that any amount of bitcoins that are received or sent just after or during the event may disappear later from the digital portfolio, or become a kind of bitcoin that other people or businesses will not accept as payment.

What do you think ?

For safety purposes, it would be best to halt/stop any transaction using BTC in any exchanges (trading) and transactions with transfers like wallet to wallet or wallet to exchanges. Better keep it in a secured wallet and move until all is clear.

[italianMiner72]

on July 12, the community of Bitcoin.org issued a statement on its page informing about the possible hardfork of Bitcoin on July 31 of this year (Jul 31 2017 20:00: 00 GMT-0400) and its implications: a portion of the Bitcoin nodes will run software that will be incompatible with the other portion, resulting in confirmations in the Bitcoin network becoming "unreliable" indefinitely. Which means that any amount of bitcoins that are received or sent just after or during the event may disappear later from the digital portfolio, or become a kind of bitcoin that other people or businesses will not accept as payment.

What do you think ?

For safety purposes, it would be best to halt/stop any transaction using BTC in any exchanges (trading) and transactions with transfers like wallet to wallet or wallet to exchanges. Better keep it in a secured wallet and move until all is clear.

the best behaviour is to store all your btc in a wallet where you have the full control of al the private Keys.
and in al Exchange you can't.

[epinay]

I think, we are forked. Tomorrow a terrbile thing may happen. This hard fork is a terrifying thing

[italianMiner72]

I think, we are forked. Tomorrow a terrbile thing may happen. This hard fork is a terrifying thing

changes are wvery time positive, if done in the right way.
i hope this one is done in the right way... but just the time can tell us if is it the case.

[veleten]

I think, we are forked. Tomorrow a terrbile thing may happen. This hard fork is a terrifying thing

no reason to panic,BCC aka Bitcoin Cash will fork this way or another
it is not a terrying thing-forks happened before and may happened again,November is the most probable date,by the way
if you want to learn more about waht happens,read this article here: https://www.coindesk.com/bitcoin-cash-what-expect-fork-10000-foot-view/
or theymoses' topic on the split

[italianMiner72]

We are all waiting with the headlights at 2 pm this afternoon.
Minute plus, minute Minus, should be That the X Time!!!