BIP 91 locked in. What happen to BIP 148 now?

BCTBF

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Quote from: AK47- on July 22, 2017, 07:42:09 AM

Quote from: BitcoinHodler on July 22, 2017, 06:16:33 AM

Quote from: Angelo Santos on July 22, 2017, 04:42:11 AM

While BIP 148 is having it's countdown, will this cause the price to fluctuate after or before this coming event?

it shouldn't.
because BIP148 was meant to activate SegWit "by force"! meaning by rejecting the blocks that weren't accepting SegWit and orphaning them. and so far SegWit is being activated and hopefully before the deadline of BIP148 everyone is on the SegWit wagon. (currently this is above 95%) so there would be nothing to reject and nothing to worry about.

All the dip and FUD was there because of the possibility of UASF which would likely had lead to chain split. People never wanted chain split and thus there was a negative wave in Bitcoin community. But now when UASF has little or no significance. Miners are implementing Segwit2x and there is not much fear left of chain split. The investor's trust have came back and thus the price. If Segwit2x gets implemented successfully which is most likely the case, we will not see any huge dip as for now.

Investor confidence has returned to bitcoin with the high bitcoin price and does it mean there is a good sign with segwit2x that might be successfully implemented and the chain split will not happen?

AK47-

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Quote from: BitcoinHodler on July 22, 2017, 06:16:33 AM

Quote from: Angelo Santos on July 22, 2017, 04:42:11 AM

While BIP 148 is having it's countdown, will this cause the price to fluctuate after or before this coming event?

it shouldn't.
because BIP148 was meant to activate SegWit "by force"! meaning by rejecting the blocks that weren't accepting SegWit and orphaning them. and so far SegWit is being activated and hopefully before the deadline of BIP148 everyone is on the SegWit wagon. (currently this is above 95%) so there would be nothing to reject and nothing to worry about.

All the dip and FUD was there because of the possibility of UASF which would likely had lead to chain split. People never wanted chain split and thus there was a negative wave in Bitcoin community. But now when UASF has little or no significance. Miners are implementing Segwit2x and there is not much fear left of chain split. The investor's trust have came back and thus the price. If Segwit2x gets implemented successfully which is most likely the case, we will not see any huge dip as for now.

Meuh6879

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Update : https://www.xbt.eu/ (144 Blocks)

BitcoinHodler

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HODLing is an art, not just a word...

Quote from: Angelo Santos on July 22, 2017, 04:42:11 AM

While BIP 148 is having it's countdown, will this cause the price to fluctuate after or before this coming event?

it shouldn't.
because BIP148 was meant to activate SegWit "by force"! meaning by rejecting the blocks that weren't accepting SegWit and orphaning them. and so far SegWit is being activated and hopefully before the deadline of BIP148 everyone is on the SegWit wagon. (currently this is above 95%) so there would be nothing to reject and nothing to worry about.

Angelo Santos

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While BIP 148 is having it's countdown, will this cause the price to fluctuate after or before this coming event?

talkbitcoin

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Quote from: d5000 on July 21, 2017, 11:10:30 PM

Quote from: RoyBatty on July 21, 2017, 09:17:43 AM

Yes, it is essentially a formality. No miners signaling for BIP91 is going to be crazy or dumb enough to not actually follow through when they'd be stepping on their own toes.

While I agree, there is a scenario where a miner cartel could profit from reverting to non-BIP91: speculation. Just before the cartel moves out of BIP91, they could short sell a large stash of coins and they would be almost surely make a large profit from it. And then, at the bottom, they could simply re-buy, signal all for BIP148 (so Segwit finally locks in at August 1) and then enjoy the rise to da moon Wink

They would lose a LOT of credibility however with this move. And the 2MB hardfork part of Segwit2x would be dead.

looking at the stats over at coin.dance we can see that 98% miners are signalling for BIP141 at the moment and currently 630 blocks were mined with this version bit.

so i am going to go ahead and say your speculation is not going to come true.
but it is a good speculation though, and i like it being around. a couple of the news sites already made this. it helps the price stay at this level and give time to people in order to accumulate before the testing of moon prices Wink

Amph

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who care, they are both way to activate bip 141, as long as segwit is activate it doesn't matter at this point

bit91 is having an edge because it require only 80% and with the lower activation window is more desirable than other proposals, basically it shorten the way to segwit, UASF is an ancient relic already...

d5000

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Quote from: RoyBatty on July 21, 2017, 09:17:43 AM

Yes, it is essentially a formality. No miners signaling for BIP91 is going to be crazy or dumb enough to not actually follow through when they'd be stepping on their own toes.

While I agree, there is a scenario where a miner cartel could profit from reverting to non-BIP91: speculation. Just before the cartel moves out of BIP91, they could short sell a large stash of coins and they would be almost surely make a large profit from it. And then, at the bottom, they could simply re-buy, signal all for BIP148 (so Segwit finally locks in at August 1) and then enjoy the rise to da moon Wink

They would lose a LOT of credibility however with this move. And the 2MB hardfork part of Segwit2x would be dead.

Meuh6879

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Agree : https://bitcoinmagazine.com/articles/bip-91-has-activated-heres-what-means-and-what-it-does-not/

Quote

Almost no Bitcoin users on the network recognize BIP 91 or its bit 4 signaling at all, and will therefore continue to accept blocks with or without bit 1.

BIP 91 will, instead, be enforced by hash power alone. This in turn means that a majority of miners (by hash power) could back out of BIP 91 with little more than reputational damage. They could continue to mine blocks that do not signal bit 1, even after BIP 91 activates in a few days.

European Central Bank

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bip 148 still has a use. if enough people still run it then no miner will attempt to screw around between now and segwit activation. it's done its job very well.

RoyBatty

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Quote from: crypto98 on July 21, 2017, 07:24:28 AM

Quote from: Totscha on July 21, 2017, 06:55:49 AM

BIP 91 locking in is just a promise. If the miners that signaled will keep their word and signal for BIP 141 (actual SegWit) and reject blocks that don't signal, then and only then will BIP 148 become irrelevant.

But isn't that now basicaly more or less a formality or could there be a bit of manipulations behind?

Yes, it is essentially a formality. No miners signaling for BIP91 is going to be crazy or dumb enough to not actually follow through when they'd be stepping on their own toes. Not to mention, if it was their intention to not execute then why signal to begin with when you could have just not signaled? Sometime in the next 48 hrs BIP148 will become unnecessary.

Meuh6879

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Quote from: Totscha on July 21, 2017, 06:55:49 AM

then and only then will BIP 148 become irrelevant.

until the days before november with the 2Mb Fork of the Segwit2X clients ...

crypto98

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Quote from: Totscha on July 21, 2017, 06:55:49 AM

BIP 91 locking in is just a promise. If the miners that signaled will keep their word and signal for BIP 141 (actual SegWit) and reject blocks that don't signal, then and only then will BIP 148 become irrelevant.

But isn't that now basicaly more or less a formality or could there be a bit of manipulations behind?

Totscha

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BIP 91 locking in is just a promise. If the miners that signaled will keep their word and signal for BIP 141 (actual SegWit) and reject blocks that don't signal, then and only then will BIP 148 become irrelevant.

ChainSmoker

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https://www.xbt.eu/ shows BIP 91 locked in and will be activated soon but also shows the countdown for BIP 148.I thought if BIP 91 gets activated then BIP 148 won't take place.Am i wrong? Will there still be UASF on August 1?

Topic: BIP 91 locked in. What happen to BIP 148 now? (Read 1466 times)