70 Percent of the Bitcoin Hashrate Begins Signaling Segwit2x
On June 16 the alpha code for the scaling solution Segwit2x was released to the public following a large number of mining pools having vocally supported the plan. Since then a large majority of miners who back the Segwit2x roadmap have started signaling with their hashrate.
The New York Agreement Moves Forward With the Segwit2x Alpha Release and Significant Miner Support
What Will Happen If Segwit2x Reaches Consensus?
The Possibility of a 4MB Increase and 8,000 to 10,000 Transactions Per Block
Here we go! I think the outcome of this proces will indicate for a large piece what will happen to the short term valuation of bitcoin out in the open market. Have fun out there and good luck with future posts!
I think the price would go down drastically in the short term before a rise would commence. And that would be a good time to buy.
finally we get segwit2x! i'm looking forward to it, it's great that f2pool will support it :)
Yap and just like Jeff's interviews with crypto-expert Trace Mayer in my earlier post https://steemit.com/bitcoin/@cyntechtic/how-to-protect-and-profit-from-upcoming-bitcoin-bip-148-fork-with-trace-mayer-of-bitcoin-knowledge it is safer to use cold wallet storage for your bitcoins so you have total control of your funds.
But the August 1st concern exists.
What could happen on 1 August 2017?
If miners activate SegWit prior to 1 August 2017 then BIP 148 will not be enforced. All users of Bitcoin will remain on the same chain no matter what client they use.
If miners do not activate SegWit then there may be a chain split. A chain split will mean that some users will see a different set of transactions than others.
If the majority of miners enforce BIP 148 then these chain splits will be temporary and eventually all clients will see the same chain and SegWit will activate for all SegWit compatible clients (0.13.1+ for Bitcoin Core).
If the majority of miners do not enforce BIP 148, users that enforce BIP 148 will diverge from users that do not enforce it.
If the majority of miners do start enforcing BIP 148 at a later date then the legacy chain (without BIP 148 enforcement) may be reorganized once the BIP 148 chain has more work.
The users who are running BIP 148 would be undisturbed, but users running legacy clients may see a large amount of history re-written and could lose funds.
https://www.weusecoins.com/uasf-guide/