My personal view on Segwitt2x.
Based on the information on the ground now,about the adoption of bip91 which is a combination of both UASF and BIP148… I don't think there would be a split… over 63% of miners have adopted this code and we are still waiting for a couple of mining pools to adopt the code.
.......As we can see bitcoin and other altcoins have picked up in price. Now is the time to invest in cryptocurrency......
My worry isn't the miners anymore, even though there might a rogue miner here and there. I'm concerned with the clueless investors who don't know anything about anything and doesn't upgrade properly, causing payments or transactions to stall.
ohhk!!!
Prices will continue to fluctuate on the market till the official announcement.
Hope what you are saying is right and it keep continuing on the uptrend as compared to others posts that I have read where they are predicting a dip till the last week of July,
Let's see who is right :)
In short, SegWit can flip the incentives for some (bandwidth restricted) miners such that they benefit from not downloading or verifying the transaction signatures. For a user, this causes a SegWit transaction to be less secure than a non-segwit one. A non-SegWit transaction is secure with the assumption that no attack is able to obtain more than 51% of the network hashrate. With SegWit, this becomes 51% - (percent of miners with flipped incentives).
If 20% of miners end up in a situation where they are not downloading signatures because it is more profitable for them not to, a 31% miner can attack the network effectively. Security becomes 51% - X.
The bigger problem is that it is very hard to estimate the proportion of miners with this flip in incentives before their portion grows too large and an attack occurs. This basically means that SegWit transactions will always be less secure than normal Bitcoin P2PKH transactions. Even if just by the smallest bit, this is what fundamentally breaks the fungibility of Bitcoin.
SegWit might be dangerous, just sayin.
https://steemit.com/bitcoin/@kyle.anderson/fork-christ-s-sake-bitcoin-is-going-to-fork-is-segwit-bitcoin-whose-side-should-i-be-on
Thanks for this explanation. It clarified some of the drawback issues of SegWit I was thinking about.
That is what I was discussing with a friend yesterday that it will not be any split. That are great news that are see already on the price growth.
Indeed am glad that the incessant "Bloodbath" will soon come to an end and market will be stable again!