CryptoCoinsInfoClub.com

Bitcoin November Split

Understanding Segwit2x: Why Bitcoin's Next Fork Might Not Mean Free Money - Coindesk

Understanding Segwit2x: Why Bitcoin's Next Fork Might Not Mean Free Money - Coindesk

Understanding Segwit2x: Why Bitcoin's Next Fork Might Not Mean Free Money Bitcoin is gearing up for what could be the biggest (and least understood) change to its software to date. Often called simply a "digital currency," bitcoin is best viewed as a protocol (a set of code) that delivers data (in this case bitcoins) in defined quantities (called blocks) that are then stored in a sequence (called a blockchain ) on a distributed set of global computers. Bitcoin is decentralized in that many people help make the network function, and in choosing to run its software, users all agree to abide by the same rules to keep it operational. It's these qualities that make the proposed change particularly divisive. Called Segwit2x , the plan calls for a very specific fork (or a change to bitcoin's rules), one that would make certain rules valid that weren't valid before. Specifically, Segwit2x would change the size of the blocks passed regularly around the network and stored in the blockchain from 1 MB to 2 MB. Some users think this is a good idea, others don't. But to begin, it's important to note how this fork differs from others. Coming on the heels of the bitcoin cash and bitcoin gold forks, bitcoin users might be accustomed to certain outcomes ones that might not be guaranteed in the case of Segwit2x. With bitcoin cash and bitcoin gold, for example, bitcoin users could have paid little to no attention and it wouldn't have impacted their transactions. If you held bitcoin on certain exchanges (or your own wallet), you received new cryptocurrency. This smooth outcome, however, isn't guaranteed with Segwit2x. Complicating matters is that in many ways, Segwit2x sounds (and is) similar to other bitcoin forks. An alternative software A modification of the bitcoin software run by netw Continue reading >>

Bitcoin Price: Bitcoin's Likely To Split Again In November As Debate Rages On

Bitcoin Price: Bitcoin's Likely To Split Again In November As Debate Rages On

Bitcoin's likely to split again in November as debate rages on Bitcoins popularity has led to congestion in trade, with transaction times and processing fees at one point soaring to records. Bitcoin is looking increasingly likely to splinter off again in November, creating a third version of the worlds largest cryptocurrency as miners and developers pursue separate visions to scale its rapidly growing marketplace. Major industry players, including the bitcoin investor Roger Ver known as Bitcoin Jesus" for proselytizing on behalf of the digital currency, say consensus between opposing camps looked increasingly unlikely. That opinion was echoed by some of the biggest mining pool operators and also programmers -- known as Core" developers -- who were instrumental to developing the infrastructure of the original bitcoin network. In recent weeks, a group of miners -- people who crunch complex math problems to generate and transact the digital currency -- split off from the legacy bitcoin to use a new version known as Bitcoin Cash. Ver is moving some of his funds into the new offshoot as he anticipates what would be the second split of the currency of 2017. Ver admits he could potentially benefit from such a schism as more coins are created. Theres probably going to be another split between bitcoin legacy and SegWit2X version of bitcoin but that just gives me more coins that I can sell for the Bitcoin Cash version," Ver said in an interview on Bloomberg Television at a conference organized by Bitkan in Hong Kong. Bitcoins popularity has led to congestion in trade, with transaction times and processing fees at one point soaring to records. Debate over how to deal with the problem has divided the trading community, with some proposing boosting the number of transactions in eac Continue reading >>

Bitcoin Segwit2x Fork Happened Quietly On Nov 17

Bitcoin Segwit2x Fork Happened Quietly On Nov 17

Blog Bitcoin Segwit2x Fork Happened Quietly on Nov 17 Do you like our content? Or, do you want to test out a new wallet? Feel free to send some coins to one of our wallets public addresses. All donated funds will go toward improving the site. What Will Futures Trading Do to Bitcoin and Altcoins? Market Turns Bearish As Futures Trading Approaches Suggestions on What to Do if You Bought Bitcoin at the Top Bitcoin TIP: Set Stops, Average, Buy the Dips, and Hold Bitcoin Hits $15k, $16k, and $17k! Beware the Bitcoin FOMO (Fear of Missing Out on Bitcoin) Bitcoin Breaks $13k (Subject to Change) Upcoming Bitcoin Forks 2017 2018 Bitcoin Correction Weighs Down the Altcoin Market With Bitcoin on a Run Past $9k, Here are Some Things to Watch For The content of this website is provided for informational purposes only and cant be used as investment advice, legal advice, tax advice, medical advice, advice on operating heavy machinery, etc. Our site is not officially associated with any brand or government entity. Any mention of a brand or other trademarked entity is for the purposes of education, entertainment, or parody. Neither CryptocurrencyFacts.com nor its parent companies accept responsibility for any loss, damage, or inconvenience caused as a result of reliance on information published on, or linked to, from CryptocurrencyFacts.com. In other words, this is a website on the internet offering free information about cryptocurrency, this is not your accountant, lawyer, or fiduciary offering you professional tax, legal, or investment advice. See our about page for more disclaimers and information. Bitcoin Segwit2x Fork Happened Quietly on Nov 17 Written by Thomas DeMichele Published - November 17, 2017 Despite an official cancellation it seems a group of miners went ahead with Segw Continue reading >>

Segwit2x Backers Cancel Plans For Bitcoin Hard Fork

Segwit2x Backers Cancel Plans For Bitcoin Hard Fork

SegWit2x backers cancel plans for bitcoin hard fork Founder Gym aims to help underrepresented startup founders build techstartups Advocates for a bitcoin hard fork have now decided to cancel plans for the so-called SegWit2x fork . The bitcoin blockchain was supposed to split into two blockchains in roughly 8 days . But it looks like SegWit2x backers couldnt convince enough people in the bitcoin community to make the SegWit2x blockchain the new mainstream bitcoin blockchain. The SegWit2x fork should have increased the block size to 2 megabytes. This change could have helped when it comes to bitcoin scalability. But it has always been a controversial change and many bitcoin companies have not actively supported the move. So many feared that this fork could have split the community into two branches. Although we strongly believe in the need for a larger blocksize, there is something we believe is even more important: keeping the community together, the note says. Unfortunately, it is clear that we have not built sufficient consensus for a clean blocksize upgrade at this time. Continuing on the current path could divide the community and be a setback to Bitcoins growth. In other words, in order to keep the community together, SegWit2x backers have decided to call off the fork. The announcement has been signed by BitGos Mike Belshe, Xapos Wences Casares, Bitmains Jihan Wu, Bloqs Jeff Garzik, Blockchains Peter Smith and Shapeshifts Erik Voorhees. They all met in person earlier this year in New York to agree on this two-part plan. The first part was a bitcoin update called Segregated Witness . This soft fork already happened back in August. With SegWit, data is stored differently in each block it leads to some nice bitcoin features. First, the SegWit updates improves the tran Continue reading >>

The November 2017 Bitcoin Hard Fork Is Huge, But Not Universally Welcomed

The November 2017 Bitcoin Hard Fork Is Huge, But Not Universally Welcomed

The November 2017 Bitcoin Hard Fork is Huge, But Not Universally Welcomed By Nathan Reiff | November 3, 2017 9:07 AM EDT Hydropower: The Key to Bitcoin Mining in the Future? Mark your calendars (in pencil, as this date may change): November 13, 2017. The mother of all hard forks will finally trigger, which will split Bitcoin into two tokens. Even before cryptocurrencies took off like crazy at the beginning of 2017, different bitcoin developers, miners, and investors were already squaring off to debate the best ways to continue to develop the leading cryptocurrency. (See more: The War Between Segwit vs. BIP148 vs. Bitcoin Unlimited .) One of the biggest questions they faced was how to increase the number of transactions that the blockchain (the technology which supports bitcoin and all other cryptocurrencies) can process per second. Bitcoin has grown at an astonishing rate, and the interest among investors has largely overloaded the system as it was initially set up. Other cryptocurrencies have found new ways of increasing their transaction capacity. Will bitcoin be able to do the same? It seems that if bitcoin is to grow in this way, it may need to experience a fork in November. The process of hard forking entails bitcoin being divided into two separate currencies. A hard fork, which may happen around November 13, would happen when the so-called SegWit2x protocol is adopted. According to a report by Forbes , bitcoin protocol developer Matt Corallo explained that the decision to adopt the new protocol (and, therefore, to hard fork the cryptocurrency) was not a discussion at all. In fact, Corallo says the decision to hard fork was pretty much a declaration, and this process is fundamentally incompatible with the process that is bitcoin core. What does a bitcoin hard fork Continue reading >>

Bitcoin's Big Test: November Fork

Bitcoin's Big Test: November Fork

Bitcoin has a hard-fork coming up on November 16th. There was a fork in August that boosted BTC's price; this one is different. Even with confusion and two different coins, BTC should follow the same pattern and we'll see price increases after November 16. Just about everyone has an opinion on Bitcoins price ($50,000?), inherent value (digital gold anyone?), or implementation these days. We have our prediction ($8,000 Bitcoin by years end )and weve been right about these calls already. But no one knows the future with any absolute certainty, and Bitcoins blockchain technology means it can elude even the finest of technical analysis. Well, there are such thing in cryptocurrency as forks, and Bitcoin is going to have oneanother onein mid-November. Lets look over some basics on what forks are and the information we have on this one, and then well talk about it means as an investor (both pre and post the fork date). That date is November 16, and the fork means the blockchain that powers Bitcoin will be split into two, each holding the history of all previous ledger activity (I suggest going here for a primer on blockchain). The split will take Bitcoin (as its known now) and a new chain which many are calling 2x or S2x or even Segwit2x, which refers to seg-wit, an update to the blockchain that changes the way information is sent. That piece may not seem like a big deal, but the change is profound enough to double the size of each block within Bitcoins blockchain. Many see this as a solution enabling Bitcoin to scaleto take on more transactions per second and to do it at a lower cost. Groups within the Bitcoin ecosystemare there are separate groups like miners, developers, investors, exchangesactually sort of struck a deal in New York in May on implementing this change (call Continue reading >>

Bitcoin Adds $1,000 In Five Days Ahead Of Mid-november Fork

Bitcoin Adds $1,000 In Five Days Ahead Of Mid-november Fork

Bitcoin Adds $1,000 in Five Days Ahead of Mid-November Fork Bitcoin Adds $1,000 in Five Days Ahead of Mid-November Fork // -- Discuss and ask questions in our community on Workplace . Hard Fork Not Likely to Challenge Bitcoin There has been a lot of talk about SegWit2x, or the upcoming fork in the Bitcoin network. However, unlike the split that gave us Bitcoin Cash (BCH), market participants are not sweating the latest SegWit protocol for one simple reason: they do not believe it will challenge the original bitcoin. The BCH experience has made investors all the more weary of hard forks. Thats probably why Bitcoin Gold came into existence with hardly a sigh from the original blockchain network. Developers, investors and analysts seem pretty unanimous that neither of these protocols will surpass bitcoin in any meaningful way. Bitcoins next fork is expected to occur on or around Nov. 16. Based on the prevailing sentiment among miners, investors probably wont have to worry about which of the two coins will be called the true bitcoin. In other words, there will be no question which fork is the minority chain. // -- Become a yearly Platinum Member and save 69 USD and get access to our secret group on Workplace. Click here to change your current membership -- // What investors can expect is an immediate spike in the newly formed asset, followed by a sharp drop and a prolonged period of instability. At least, thats what the last two forks achieved. Like other forks, SegWit2x is about the same thing that always divides the blockchain community: how to boost the network to enable more transactions. Bitcoins ability to accommodate more transactions is no trivial pursuit; it forms the basis of mainstream acceptance of the token as a legitimate form of payment. At current levels, b Continue reading >>

6 Answers - Will Bitcoin Fork Again In November 2017? If It Does, How Will That Affect Bitcoin Cash? - Quora

6 Answers - Will Bitcoin Fork Again In November 2017? If It Does, How Will That Affect Bitcoin Cash? - Quora

Will Bitcoin fork again in November 2017? If it does, how will that affect Bitcoin Cash? Almost certainly - and it will have great effects. Lets analyze this using todays knowledge, August 12th 2017: Segwit2x is locked-in by consensus and the Segwit part will be actually activated on the Bitcoin network in approx 1578 blocks from now (follow this in Bitcoin Blockchain statistics - XBT.eu ) Along with Segwit, the 2x is locked in. This means that consensus signals the intention of an 84.7% majority of moving to 2MByte block size by November 2017. If this intention becomes an actuality by November, a hard fork will happen, effectively creating a Bitcoin Segwit Only (1Mb block) and Bitcoin Segwit/2Mb block. While these things were happening, a hard fork was announced and became a reality on August 1st: BitcoinCash, forking out with 8Mb block size and NO Segwit. All this have come to pass and the result is quite amazing: the sum total of market value for both Bitcoin and BitcoinCash is larger than the value of Bitcoin alone before the fork! This seems to prove that the market momentum is such that it is ready to accept and support anything, that the need for a trusted and secure cryptocurrency is so great that the moment things clear up a bit, even temporarily, the market jumps up to buy more! The BitcoinCash hard fork took with it 368PHash/sec hashing power, roughly 6.8% of the Bitcoin total hashing power but instead of lowering the value of Bitcoin, it increased both BTC value and total value! Given that if you were the owner of X BTC prior to fork you are now the owner of X BTC + X BCC, the fork actually created more value for you than you hoped for before the fork! Now, come November, BTC will have to face the 2x part of the deal With Segwit on and Lighting Network in d Continue reading >>

Bitcoin Segwit2x: A Plain English Guide | Fortune

Bitcoin Segwit2x: A Plain English Guide | Fortune

(Important update: The leaders of the SegWit2X faction announced on Wednesday, November 8 they would suspend their plan to split bitcoin in mid-November.) Bitcoin has faced turmoil in the past but nothing like this. In two weeks, a massive fight taking place among bitcoin insiders could produce a ruinous schismundermining the integrity of digital currency and threatening its sky-high value. The fight is over a so-called fork in bitcoins software, known as SegWit2x, that will create two competing versions of the currency and lead to disagreement over the real bitcoin. Theres even a battle over who gets to use the popular BTC ticker symbol. The fork will also mean a payout to existing bitcoin holders, though any windfall could be overshadowed by larger turmoil. To understand whats at stake, heres a plain English Q&A to explain the controversy. There is a disagreement between key stakeholders over how to update the core software that runs bitcoin. You can learn more about the technical details below, but the crux of the fight is over whether to double the size of bitcoin blocks. The blocks, which are added every 10 minutes, serve as a record of all bitcoin transactions to create a permanent blockchain ledger. The current controversy means there is likely to be two bitcoin blockchainsone that uses smaller 1MB blocks and one that uses bigger 2MB blocksand temporary uncertainty over which is the real bitcoin. While bitcoin has experienced these sort of forks in the past (most notably with the creation this summer of rival currency Bitcoin Cash ,) the market has never regarded such splits as a replacement for the original bitcoin. This time could be different. It is supposed to take place soon. This website offers a more precise moment specifically Nov. 16 at 5:42 ambased on Continue reading >>

Bitcoin Hard Fork In November Expected To Drive Prices High

Bitcoin Hard Fork In November Expected To Drive Prices High

Bitcoin Hard Fork in November Expected to Drive Prices High Bitcoin has already hit values of more than $6,000. Can it soar higher? Bitcoin, the world's main cryptocurrency, has a busy few weeks ahead, becauseThe Bitcoin Segwit2x or (BTC1) fork will occur around November, 16. This is expected to push prices higher. Today, Bitcoin is trading at $$5,692 with a market cap of $94.7 billion. This weekend the Bitcoin hit an all time high of $6,100. Thecreation of Bitcoin Gold is also happening. This process first started in July this year and will be complete and released to Bitcoin users. Jack Liao, CEO of Hong Kong-based LightningAsic, is the mastermind behind Bitcoin Gold, but Bitcoin Gold's codebase is incomplete. Many of you will remember the last Bitcoin hard fork , which created Bitcoin Cash and unexpectedly created billions of dollars in value. Some are anticipating a similarly robust aftermath to the upcoming hard fork. For those who hold Bitcoin through Coinbase approximately 24 hours pre-fork, Coinbase will temporarily disable all bitcoin buy, sells, sends and receives. The other cryptocurrencies such as Ethereum (ETH) and Litecoin (LTC) will not be impacted. Cryptocurrency exchanges in conflict over Bitcoin listings But the real question is what Bitcoin will trade under, "BTC" or "BC1"? Popular cryptocurrency exchanges such as Bitfinex, Bitfinex and Coinbase have stated that they will list the original bitcoin blockchain as "BTC" subsequent to the SegWit2x hard fork in November. A number of other wallet platforms and exchanges such as Xapo and Blockchain have revealed that they will list bitcoin as "BC1" and publicly list SegWit2x as "BTC," if the SegWit2x blockchain becomes the majority chain. "If we let history be our guide, the run-up to November's fork should Continue reading >>

Bitcoin Price Hits All-time High Near $8,000 As Chance Of Hard Fork Remains

Bitcoin Price Hits All-time High Near $8,000 As Chance Of Hard Fork Remains

But on Friday, Coinbase, one of the world's largest cryptocurrency exchanges, said there is still a possibility of a fork. David Farmer, director of communications at Coinbase, said on a blog post that a "small number of miners may attempt to go forward with a fork." A miner is a key part of the bitcoin network. It is a person who runs a "node", or a high-powered computer that is able to solve the complex mathematical equitation required to verify bitcoin transactions. If a large number of miners upgrade the software on their nodes, it could cause a fork. Farmer warned that this small number of miners still supporting the Segwit2x proposal could cause a fork. If a fork happens, holders of bitcoin will receive the newly-created cryptocurrency called "bitcoin2x" for free, essentially giving them free money. That is why bitcoin rallied Friday. Coinbase said that it will disable the function of sending and receiving bitcoin at 2 a.m. PT on Friday on its platform, and halt buying and selling an hour before the fork, which is forecast between 6 a.m. and 8 a.m. PT. All functionality will be re-enabled shortly after, Farmer said. The Coinbase communications executive said that there are two scenarios that could occur. The first is that the new bitcoin2x network is unusable because there is not enough support, in which case Coinbase will not facilitate trading or withdrawals because "it will not be possible to move these assets." Farmer said that this is the most likely outcome. The second scenario is that the bitcoin2x network is usable because miner support is strong. Bitcoin has had a rocky year but the price has continued to rise and is up around 700 percent. But many critics have thrown cold water on the rise of the cryptocurrency, with JPMorgan Chase CEO Jamie Dimon calli Continue reading >>

What Will Happen At The Time Of The Bitcoin Hard Fork?

What Will Happen At The Time Of The Bitcoin Hard Fork?

What Will Happen At The Time Of The Bitcoin Hard Fork? These are the show notes for the Unchained podcast , availableon Google Play , iTunes , iHeartRadio , Stitcher or TuneIn Radio , and sponsored by OnRamp . The so-called hard fork, which has the potential to create two blockchains, each with its own set of coins, brings to a head a three-year-long battle between two factions whove been warring over a seemingly technical question over how to increase the amount of transactions the blockchain can process per second. Whether or not that divorce becomes permanent or not is the $100 billion question. The two sides have been duking it out on Twitter, Slack channels and email lists, and though certain indicators look bad for each one, neither bloc is backing down . I dont think it will cause havoc at all, said Mike Belshe, one of the developers working on the new fork of Bitcoin, on the latest episode of my podcast, Unchained ( Google Play , iTunes , iHeartRadio , Stitcher or TuneIn Radio ). In the episode, representing those against the so-called SegWit2x hard fork, which should split off on or around November 16 , is Bitcoin protocol developer Matt Corallo. He disagreed with the process by which the decision to hard fork was made: There is no discussion. As Mike said, this New York agreement [to do the SegWit2x hard fork] was pretty much a declaration. It said this change is happening. This is fundamentally incompatible with the process that is Bitcoin core. Mike Belshe, CEO of BitGo and Bitcoin SegWit2x developers, and Matt Corallo, Bitcoin protocol developer Plus, some exchanges are offering so-called chain split tokens, which function as futures markets, and those indicate the vast majority of community support is against the hard fork as well. Across multiple exchang Continue reading >>

Bitcoin Hits All Time High As Controversial 'hard Fork' Called Off

Bitcoin Hits All Time High As Controversial 'hard Fork' Called Off

Bitcoin hits all time high as controversial 'hard fork' called off Bitcoin has avoided splittingCredit:Getty Bitcoin shot to just shy of $7,900 (6,000)after a controversial proposal that could have split the cryptocurrency was called off. The currency had been scheduled to undergo a so-called "hard fork", a change to bitcoin's code that would have created an offshoot cryptocurrency, and which developers argued was necessary to keep up with the pace of its growth. Despite widespread agreement over the summerthat the upgrade, known as SegWit2x, would be implemented on November 16, support for the change had waned. On Wednesday, proposals to implement the changes were suspended over fears they could divide bitcoin irreparably and damage the cryptocurrency's growth. Bitcoin's price briefly surged to... Register or log in to view this and other Technology Intelligence articles. It's free and easy to do. Access brilliant stories, features and analysis Sign up to our exclusive Technology Intelligence daily newsletter Become part of our ambitious new Tech networking community Continue reading >>

Will We Really Lose Bitcoin In The Segwit2x Fork?

Will We Really Lose Bitcoin In The Segwit2x Fork?

Will We Really Lose Bitcoin In The SegWit2x Fork? By: Sudhir Khatwani In: Bitcoin Last Updated: CoinSutra welcomes you to another Bitcoin hard fork mess! And when I say mess, I mean it more than ever. In a recently concluded Bitcoin hard fork (i.e Bitcoin Cash ), we witnessed the ebbs and flows of being a Bitcoin investor. And now, again, the Bitcoin ecosystem, including every type of entity connected with it, is being tested because we have another Bitcoin hard fork scheduled for this November. I know some of you might wonder why this is happening because Bitcoin has already scaled, activated SegWit, and Bitcoin Cash supporters have already parted their ways with bigger block sizes. Well, my answer is simply that the Bitcoin scaling debate is not over yet! For those of you who have been reading CoinSutra diligently, you will know about the unconcluded story of the New York Agreement . And now, this unconcluded story is about to reach its climax. NYA (aka New York Agreement or aka SegWit2x ) is a Bitcoin scaling solution that was signed and agreed to by a large number ofminers, developers, and investors in Consensus 2017 . SegWit2X is a fancy derivative name given to a combo of scaling solutions (i.e SegWit and 2MB block size increase). It simply means implementing SegWit first, and then within 3 months of SegWit activation, it aims at implementing a 2MB block size for the Bitcoin network. And since SegWit2xs first leg (i.e. BIP 91 (SegWit)) was already put in place on July 21, 2017, the last and final leg is still pending. Now the present mess is about the implementation of the 2MB block size (which is happening in mid-November 2017). But as I have described in my Bitcoin Improvement Proposal article, 2MB blocks will be implemented only when core developers and other Continue reading >>

Bitcoin What To Expect From Novembers Hard Fork Hacker Noon

Bitcoin What To Expect From Novembers Hard Fork Hacker Noon

Bitcoin What to Expect from Novembers HardFork Mid-November of this year will see another hard fork on the biggest cryptocurrency globally, Bitcoin which is being referred to as the SegWit2x hard fork. This is by far the most significant hard fork of the year with the potential to significantly impact the future of Bitcoin trading. At the time of the hard fork the Bitcoin blockchain will undergo a bifurcation one strand will continue as the previous core Bitcoin and a new strand will be the new SegWit2x hard fork cryptocurrency. The November Bitcoin hard fork has become highly contentious in the Bitcoin community. The major sticking point has been that most Bitcoin miners wanted a block size increase in the current (core) system, rather than an alternate, entirely separate, SegWit based currency. The initial proposal has come from Bitcoin blockchain miners who aim to run the SegWit2x version of bitcoin and increase the block size to 2MB, and the block weight to 8MB. The question remains if one version of Bitcoin or the other will gain authority in the marketplace. This update is expected around November 18th, 2017 at block 494784. The proposal for the SegWit upgrade was agreed 5 months ago, in May 2017, after extensive debate, with a final agreement made with some of the biggest Bitcoin players in the market, after signing the New York Agreement (NYA). The agreement outlined that within 6 months of SegWit activating, the block size would be doubled to 2MB and now that time has arrived. Bitcoin (BTC) Up over 495% YoY against USD as per IQ Optionbroker The key benefit of the SegWit2x update is to expand the scale of Bitcoin transactions potentially making Bitcoin trading cheaper and faster and potentially leading to wider adoption. Larger block size enhances the ease of Continue reading >>

More in cryptocurrency