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Author Topic: [2017-08-24]Segregated Witness Has Officially Activated on the Bitcoin Network  (Read 3674 times)
btc_angela
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August 24, 2017, 05:35:10 AM
 #1

On August 23 at approximately 10:00 pm EDT on block 481822 Segregated Witness finally activated and is now live on the Bitcoin network.

Segwit Is Now Live on the Bitcoin Network

Segregated Witness (Segwit) was an idea that was introduced by the software developer, Peter Wuille, in 2015 at the Hong Kong Scaling Workshop. The protocol is meant to relocate witness inputs from the transaction hash, which will theoretically help malleability and create more block size space. The concept was at first well received by the bitcoin ‘community, ’ but some had hoped a block size increase would also follow. The community and developers couldn’t come to terms with increasing the block size, and lots of infighting began. Further, this meant the Segwit protocol sat on the shelf for quite some time as some miners would not approve of the upgrade unless a block size increase was included.

https://news.bitcoin.com/segregated-witness-has-officially-activated-on-the-bitcoin-network/

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August 24, 2017, 05:55:44 AM
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The whole Bitcoin community is eagerly watching right now about the just activated Segwit2X. We are hoping that things can get easier with Bitcoin because of this. We are all for Bitcoin and anything that can be good for it should be supported with open arms. The only thing is that anything has to undergo a vetting process via many debates and that is where things can get murky.

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August 24, 2017, 06:16:37 AM
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The real party has just begun. The New York agreement (aka compromise) will have to prove itself solid otherwise we are going to see a lot of fireworks in the next months.
The whole Bitcoin Cash thing will be a minor glitch compared to the fork that could sparkle from the fall of the NYA.
Popcorns are ready

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August 24, 2017, 11:36:22 AM
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The real party has just begun. The New York agreement (aka compromise) will have to prove itself solid otherwise we are going to see a lot of fireworks in the next months.
The whole Bitcoin Cash thing will be a minor glitch compared to the fork that could sparkle from the fall of the NYA.
Popcorns are ready

Maybe or maybe not. If you've been following this issue recently, you may have noticed that Jeff Garzik was trying to install replay protection on his fork, so SegWit2x might turn out to be another "airdrop" fork like Bcash. In this scenario Bitcoin hodlers will be able to again increase their holding by some 5-20%, and miners will have another coin to switch to for some quick profit, and maybe even a bit longer difficulty manipulation. It becomes really hard to predict Bitcoin's price in short term, as no one knows clear reasons of why the price moves or doesn't nove during some events.

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