Bitcoin Scaling Debate in a Nutshell
Bitcoin scaling has been a major debate of late, with the community divided over what changes to adopt. The time for indecision is over - two new proposals are setting a deadline for changes to take place.. or else. Find out what the core debate is, what are the proposals and what are the risks.
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Two competing interest, the miners obviously doing thing in their best interest to try and maintain the current level of transaction action fees or to find a way to preserve the fees they are making.
Massive Mining Pools are backing SegWit2x at the moment. Not sure who will give in first, as long as it does not result in a hard fork. Great Video.
seems like 70% of hashrate has voiced support for segwit2x
Good topic, can be transfered to all other crypto currencies! Nice video ;)
Good info Michael! Keep pumping out these until August 1st! Most people know half than less of this.
Interesting .. lets see what happens
Check my views on crypto long term
https://steemit.com/cryptocurrency/@newmarket65/is-cryptocurrency-your-get-rich-quick-scheme
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I moved a lot my BTC into LTC and other alts (luckily, before this recent LTC spike). Too much uncertainty for me. I'll wait for the dust to settle before reentering BTC.
It seems people have been slow to catch up with recent developments. Segwit2x support by the miners is being done through Bip 91, which IS compatible with Bip 148. Given today's hashrate, we are on a trajectory to see no fork in August. Bip 91 is in fact considered a workable solution by the majority of core developers. People are still reporting old news regarding Segwit 2x because the implementation method has changed since May.
One attribute of Bitcoin is just how open the development discussion is. This causes unqualified people to speculate and spread misinformation. Here is some information from a qualified developer that is fairly easy to digest:
https://medium.com/@jimmysong/segwit2x-what-you-need-to-know-b747e6326266
Thanks andyatcrux! reports have been quite conflicted over segwit2x and its safety.
Agreed. It is difficult to suss out. Sometimes going right to the source of the discussion helps to ascertain things.
https://github.com/btc1/bitcoin/pull/21
https://lists.linuxfoundation.org/pipermail/bitcoin-segwit2x/2017-June/
Sources like Cointelegraph will always be several days behind. Anyhow, I appreciate your efforts to keep people informed.