Couple of questions about the upcoming change(s)...

crazyivan

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Quote from: uhro on July 16, 2017, 03:02:51 PM

Quote from: mike4001 on July 16, 2017, 02:37:35 PM

At the moment 88% of the minters are signaling that they will implement segwit2x.

If this holds these miners will mine Segwit blocks before the end of July.

This basically means that the remaining 12% of miners could mine old legacy blocks but given their they are in the vast minority it is expected that they will follow and also mine segwit blocks.

Expected, but what if they don't??
This mean there would be 2 coins no?

Yes, but the second one ll be just another alt, which will be dumped into oblivion, which means it will not be profitable for them to mine it. As a result, there will be only 1 BTC and all this fuzz is just assholes and ignorant people creating panic.

10% of hashrate should not decide faith of BTC, that s good old democracy.

maku

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Quote from: joebrook on July 16, 2017, 03:22:54 PM

I just read an article which says that for Segwit to be activated 95% of the miners needs to signal support for it and its currently at 49.9%, whiles segwit2x requires 80% and its expected to go through whether it gets to the mark or not on August 1st.

I just want to add that the original Segwit proposal, BIP141, requires 95% threshold - to be activated and this number is kinda impossible to achieve in the real world.
We can be almost 100% sure that SegWit2x, considering its current hash rate contribution will be activated before BIP148 in August. Don't belive in any FUD.

mindrust

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Quote from: uhro on July 16, 2017, 02:31:41 PM

I guess my main question is, how does segwit get "enforced" in that 20% who don't signal?

They will be mining a coin which nobody will want to have. So eventually they'll get tired of mining a useless chain and they'll be mining the economically viable coins. That's how we'll enforce segwit on those bad miners.

Sanity > Insanity

skorupi17

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Quote from: uhro on July 16, 2017, 03:02:51 PM

Quote from: mike4001 on July 16, 2017, 02:37:35 PM

At the moment 88% of the minters are signaling that they will implement segwit2x.

If this holds these miners will mine Segwit blocks before the end of July.

This basically means that the remaining 12% of miners could mine old legacy blocks but given their they are in the vast minority it is expected that they will follow and also mine segwit blocks.

Expected, but what if they don't??
This mean there would be 2 coins no?

Well it is their decision if they will not follow the majority of miners. If that happens, their mined block will be useless, I guess, since no other miners will accept that block in processing transactions. So basically, the "undecided" will be forced to go for segwit or they are doomed to fail as a miner.

If a split happens, there will be 2 coins (a duplicate of the original) and which ever chain is supported by many users will be deemed as the "original"

joebrook

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Quote from: uhro on July 16, 2017, 03:02:51 PM

Quote from: mike4001 on July 16, 2017, 02:37:35 PM

At the moment 88% of the minters are signaling that they will implement segwit2x.

If this holds these miners will mine Segwit blocks before the end of July.

This basically means that the remaining 12% of miners could mine old legacy blocks but given their they are in the vast minority it is expected that they will follow and also mine segwit blocks.

Expected, but what if they don't??
This mean there would be 2 coins no?

I just read an article which says that for Segwit to be activated 95% of the miners needs to signal support for it and its currently at 49.9%, whiles segwit2x requires 80% and its expected to go through whether it gets to the mark or not on August 1st.

uhro

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Quote from: mike4001 on July 16, 2017, 02:37:35 PM

At the moment 88% of the minters are signaling that they will implement segwit2x.

If this holds these miners will mine Segwit blocks before the end of July.

This basically means that the remaining 12% of miners could mine old legacy blocks but given their they are in the vast minority it is expected that they will follow and also mine segwit blocks.

Expected, but what if they don't??
This mean there would be 2 coins no?

mike4001

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At the moment 88% of the minters are signaling that they will implement segwit2x.

If this holds these miners will mine Segwit blocks before the end of July.

This basically means that the remaining 12% of miners could mine old legacy blocks but given their they are in the vast minority it is expected that they will follow and also mine segwit blocks.

uhro

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I know I'm a newbie around her, so forgive me if I missed something simple, but I keep reading that if the majority of miners signal for segwit, it will get "enforced".

Right now I'm hearing a number like 80% support, which with my current thought process mean that a new chain will start with segwit and 80% of the blockchains ~current hashrate, what about the other 20% of the miners.
The main thing that makes me think this is Bitmains announcement that he will run his own chain off bitcoin if it forks.
If that holds at 80%, and 20% of the miners don't signal... how is segwit "enforced"... wouldn't that mean that the segwit chain has 80% of the hash and the original chain keeps going with only 20% of the hashrate?

I must be wrong, but everything I keep reading makes me think that any portion of the miners that don't switch will carry on the original chain.

I guess my main question is, how does segwit get "enforced" in that 20% who don't signal?

Topic: Couple of questions about the upcoming change(s)... (Read 439 times)