Updates: August Bitcoin Segwit Implementation!
bitcoin·@polaleye50·
0.000 HBDUpdates: August Bitcoin Segwit Implementation!
<html> <p><img src="https://steemitimages.com/DQma6ysykddJrnZRMAzuUYrWVWUKt5HyXVCckLWjzy9gxJz" width="850" height="478"/>As we have all known that something special will happen on 1st of August 2017 (Bitcoin hard fork). A group of bitcoin miners, investors, and developers including those that bitcoin will be upgrading bitcoin protocol as specified by the User Activated Hard Fork (UAHF). This upcoming development has create fear in the heart of investors and bitcoin users, thinking that they may lose their coins in the process or the value of bitcoin will reduce. Large Mining Pools company have been meeting in secret on the way forward on bitcoin new protocol that will both activate segwit and segwit2x and a future 2MB 1st august hard fork. The secret meetings by large pool mining companies like: </p> <ul> <li>Bifury</li> <li>BitGo </li> <li>BitPay </li> <li>Bitcoin.com</li> <li>Xapo </li> <li>RSK Labs</li> <li>Bitmain among others …. Who has contributed to the development by providing technical and engineering support to test the upgrade, and assisting companies with the preparing for the hard fork. Check the allegedly agreement here: pastebin.com/VuCYteJh. Before Segwit will be implemented it requires 95% of miners to signal support measured in hash power in order to be activated. Presently there is 44.9% of miners support for Segwit. You are free to always check the support status through this link <a href="http://www.segwit.co/">http://www.segwit.co</a><img src="https://steemitimages.com/DQmXo6s3qjtx6ZsLoiXkZg2ETNn33nbUq5TnVcxsojUDtHc/Screenshot%20(8).png" width="850" height="477"/></li> </ul> <p><strong>WHAT ARE THE DANGER IN THE SPLIT OR IMPLEMENTATION OF HARDFORK</strong> </p> <p> As we are just in the early stages of cryptos, have it in mind that problems may arise now and thereafter as the crypto market grow wider and larger. Hmmmm! Bitcoin can split between two blocks sizes, and this can be very risky, because if care is not taking it can result in loss of funds. There could be possibility having two different sets of Bitcoins with different sets of rules competing with each other for users. Yesterday when I was surfing the web, I came across with this which may possibly be the other version of bitcoin: “Bitcoin Cash”.</p> <p> According to their websites Bitcoincash.org: </p> <blockquote> On August 1st 2017, we the People will breathe new life into Bitcoin. A group of miners, developers, investors, and bitcoin users will upgrade the Bitcoin protocol as specified by the <a href="https://github.com/Bitcoin-UAHF"> User Activated Hard Fork (UAHF).</a> Those who do not want to follow our lead are free to use whichever chain they like. Miners implementing the UAHF will safely split away, creating a new version of Bitcoin called "Bitcoin Cash". All current Bitcoin holders will automatically own Bitcoin Cash. The existing ledger at the time of the split is preserved, thus users retain any balances they had before the split. Bitcoin Cash brings sound money to the world. Merchants and users are empowered with low fees and reliable confirmations. The future shines brightly with unrestricted growth, global adoption, permission less innovation, and decentralized development. These ideals can be achieved, but it depends on you to succeed. We need the support of miners, investors, and users like you. Join us to help achieve Satoshi's original vision of Bitcoin as Peer-to-Peer Electronic Cash. ” </blockquote> <p><strong>HOW TO KEEP YOUR BITCOIN SAFE </strong></p> <p> As an investor I will advice you to exchange your bitcoin to litecoin or other trusted cryptocurrency, all because if things change, bitcoin market might become slow due to massive scaling problems. why i will choose litecoin is that it does not seems to have any scaling issue and segwit is presently active on litecoin, so no cause for alarm. do not quote me wrong, Bitcoin is still the greatest investment among all crypto once they solve all the present issues. so go on mining your bitcoin and keep on exchanging till the problem has been resolved. <br> <br> follow me @polaleye50 for more updates on Segwit (August Hardfork).</p> <p>Feel free to share more information and ask question through your comment.</p> </html>