The big Crash is comming! Countdown with all Dates you must know!

in #steemit7 years ago (edited)

You are wondering?!
What's going on?
Everything crashes btc Steem all Altcoins!
A good explanation for this translation:
Source of excerpts in german; https://bitcoinblog.de/2017/07/13/zur-vorbereitung-auf-stuermische-tage-was-kann-ende-juli-und-anfang-agust-mit-bitcoin-passieren/

The first date:

21.07 .: SegWit2

SegWit2x is a cooperation of numerous companies and miners of the ecosystem, which is to clean up the seemingly eternal Blockize-Streit. Under the leadership of Jeff Garzik, a workgroup is developing a client that introduces both SegWit and a Hardfork to a basic blockize of 2 megabytes three months after SegWit activation. This dual solution is supposed to be a kind of minimal compromise in the ecosystem at least, and more than anything else, to demonstrate that progress is possible.

The basis of SegWit2x is Bitcoin Core. The workgroup merely lowers the threshold for activating SegWit from 95 to 80 percent and implements the upcoming Hardfork. According to the roadmap outlined by Garzik, a production-ready version of SegWit2x will be released on July 21st. This will be used by the parties and, in particular, about 80 to 90 percent of the miners.
By this date, all prices should go down significantly

If everything goes according to plan, the following will happen from the 21st of July: The Miners will use SegWit2x and signal the version 4 of their willingness to Softfork. If 80 percent of 336 blocks subsequently signal this readiness, the activation of SegWit is prepared with BIP91. This can be done at the earliest after about 2.5 days, so at any time on July 23rd. A further 336 blocks later, BIP91 will enter into force.

From 24.07. Then the courses could go up significantly but also down!

1 August: UASF with BIP148

Should SegWit2x fail to trigger BIP91 with 80 percent of the Hashrates by the end of July, the chain split is threatened by the UASF. The so-called user activated soft fork with BIP148 means that the "users" who use such a client will reject all non-SegWit blocks from 1 August. Currently, 14 per cent of the nodes are UASFs, and 70 per cent of them, ie, almost 10 per cent of all nodes, also seem to be ready to do so.

From 4 August: Bitmains UAHF with BitcoinABC

If SegWit2x fails and the UASF is successfully activated, there will be a "legacy chain" (the old chain) and a UASF chain. Bitmain has threatened to initiate another fork in this case. Namely the UAHF (user activated Hardfork). This will not activate SegWit, but will increase the blockize to a hard limit of 8 MB, but this is supplemented by a soft 2 MB limit set by the miners.

Bitmain has already presented a roadmap for the UAHF. In addition to the larger blocks, these extension blocks, SegWit, Lumino, Rootstock and even Bitcoin-NG, are the Darling of the first Scaling Bitcoin workshop. By introducing a new rule, the UAHF chain protects itself against so-called "wip-outs", ie the extinction by the longer chain. A so-called "replay protection" is also provided, which will make it easier for exchanges and other platforms to recognize the UAHF chain. This abundance of planned features makes the prospect of a UAHF relatively popular in the Big Block community.

At the Future of Bitcoin, the developer Amaury Sechet presented the client BitcoinABC. This will probably be used by Bitmain for the UAHF. BitcoinABC is a fork of Bitcoin Core 0.14.1, from which SegWit is removed and the bitize limit set by Bitcoin Unlimited has been implemented by the user. Bitcoin Unlimited and Bitcoin Classic will also be compatible with the UAHF.

Bitmain has announced that the UAHF chain for at least three days private to mine. It is to be published afterwards, but only if the chainsplit is stable by the UASF and secondly the market demand for larger blocks.

However, discussions on the UAHF are highly speculative. Finally it is quite unlikely that it will give it at all.

Now everyone has to decide how to deal with the situation!

I wish all of us success and a little luck!

G

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Thanks for the dates and the information. I haven't seen anyone post the dates yet so thanks for sharing!

May you live in interesting times

STEEM On!!

We all live in very interesting times! Good Luck!

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