hard fork? | Bitcointalksearch.org

oblivi

hero member

Activity: 700

Merit: 501

Quote from: Anillos2 on March 02, 2015, 11:37:46 AM

Quote from: LordSonjai on March 01, 2015, 01:38:37 PM

Just curious as if wether my bitcoin cold wallet made off of bitaddress would be affected during a hard fork.

It depends.

I think that in the future Bitcoin could accept new cryptographic algorithms, but you won't be forced to move your funds. But if the current cryptographic algorithm becomes weak, your funds could be stolen.

It this happens you will be noticed, don't worry, because the current cryptographic algorithm is strong enough for the moment.

I don't think we'll ever need, in our lifetimes, a change beyond what SHA256 has to offer. Unless alien tech cracks the algorithm.

Anillos2

legendary

Activity: 1260

Merit: 1003

Quote from: LordSonjai on March 01, 2015, 01:38:37 PM

Just curious as if wether my bitcoin cold wallet made off of bitaddress would be affected during a hard fork.

It depends.

I think that in the future Bitcoin could accept new cryptographic algorithms, but you won't be forced to move your funds. But if the current cryptographic algorithm becomes weak, your funds could be stolen.

It this happens you will be noticed, don't worry, because the current cryptographic algorithm is strong enough for the moment.

BillyBobZorton

legendary

Activity: 1204

Merit: 1028

Quote from: odolvlobo on March 01, 2015, 02:00:48 PM

It is extremely unlikely that any fork is going to change how private keys and bitcoin addresses work because it would cause a total disruption, invalidating all wallets, not just cold wallets.

If a fork fucks with private keys it would be the end. You can't recover from that. So they better think about it twice

jeffhuys

sr. member

Activity: 252

Merit: 250

Quote from: ?? on ??

Quote from: jeffhuys on March 01, 2015, 07:22:42 PM

Quote from: ?? on ??

Quote from: inBitweTrust on March 01, 2015, 03:24:14 PM

Quote from: ?? on ??

I guess my issue is I am not getting in these blocks I sent a transaction around 4 hours ago and I am still waiting " Estimated Confirmation Time Within 6 Blocks (Medium Priority)"

The last 6 confirmations happened within 1.5 hours - https://blockchain.info/blocks
Did you pay the correct Tx fee?

It is the standard MultiBit HD wallet fee .00001

Should be fine. My MultiBit confirms flawlessly, every time.

So standard transactions are being effected, that's what I am taking from this.

I guess. You could just have had a load of bad luck. I've never really had problems with transaction time.

jeffhuys

sr. member

Activity: 252

Merit: 250

Quote from: ?? on ??

Quote from: inBitweTrust on March 01, 2015, 03:24:14 PM

Quote from: ?? on ??

I guess my issue is I am not getting in these blocks I sent a transaction around 4 hours ago and I am still waiting " Estimated Confirmation Time Within 6 Blocks (Medium Priority)"

The last 6 confirmations happened within 1.5 hours - https://blockchain.info/blocks

Did you pay the correct Tx fee?

It is the standard MultiBit HD wallet fee .00001

Should be fine. My MultiBit confirms flawlessly, every time.

albert11

hero member

Activity: 679

Merit: 500

Quote from: PolarPoint on March 01, 2015, 03:20:06 PM

Quote from: LordSonjai on March 01, 2015, 01:38:37 PM

Just curious as if wether my bitcoin cold wallet made off of bitaddress would be affected during a hard fork.

The hardfork, when it comes, only miners and pool operators need to upgrade their builds. Average bitcoin users are not affected, coins are safe and addresses still works.

I though that when a modification on the code is done people needs to upgrade their client isn't this the case?

This would mean that if people disagree with a code modification they are the ones that needs to find another client, i thought it was the other way around?

inBitweTrust

hero member

Activity: 658

Merit: 501

Quote from: ?? on ??

I guess my issue is I am not getting in these blocks I sent a transaction around 4 hours ago and I am still waiting " Estimated Confirmation Time Within 6 Blocks (Medium Priority)"

The last 6 confirmations happened within 1.5 hours - https://blockchain.info/blocks

Did you pay the correct Tx fee?

PolarPoint

hero member

Activity: 672

Merit: 500

Quote from: LordSonjai on March 01, 2015, 01:38:37 PM

Just curious as if wether my bitcoin cold wallet made off of bitaddress would be affected during a hard fork.

The hardfork, when it comes, only miners and pool operators need to upgrade their builds. Average bitcoin users are not affected, coins are safe and addresses still works.

Quote from: ?? on ??

I guess my issue is I am not getting in these blocks I sent a transaction around 4 hours ago and I am still waiting " Estimated Confirmation Time Within 6 Blocks (Medium Priority)"

Medium priority usually means not enough fees. Wink

inBitweTrust

hero member

Activity: 658

Merit: 501

Quote from: odolvlobo on March 01, 2015, 03:08:36 PM

Actually, the last ...

10,000 blocks took 96,453 minutes to confirm, for an average time of 9.65 minutes
1,000 blocks took 9,900 minutes to confirm, for an average time of 9.90 minutes
100 blocks took 1,008 minutes to confirm, for an average time of 10.08 minutes

7-8 minutes is not accurate.

You cannot extrapolate that data to reflect the probability of confirmations appearing from an average Tx if the appropriate Tx fee is paid .

https://blockchain.info/charts/avg-confirmation-time

In reality since a Tx appears ate a random time between blocks being found the first confirmation has a 50% probability of being found within 3-4 minutes and the second confirmation has a 50% probability being found within 7-8 minutes after the first confirmation.

odolvlobo

legendary

Activity: 4522

Merit: 3426

Quote from: inBitweTrust on March 01, 2015, 02:40:21 PM

Quote from: ?? on ??

My confirmations are taking FOREVER.

Difficulty is increasing and confirmation times are actually averaging 7-8 minutes sir. Keep in mind the Poisson Distribution.

7-8 minutes is not accurate. Poisson distribution or not, the last ...

10,000 blocks took 96,453 minutes to confirm, for an average time of 9.65 minutes
1,000 blocks took 9,900 minutes to confirm, for an average time of 9.90 minutes
100 blocks took 1,008 minutes to confirm, for an average time of 10.08 minutes

inBitweTrust

hero member

Activity: 658

Merit: 501

Quote from: jeffhuys on March 01, 2015, 02:23:05 PM

Wait, when is this hard fork going to happen? Or is this not decided yet?

Much to the chagrin of less than 1% of bitcoin users sometime this year. No formal BiP has been proposed but one will come shortly in second quarter and than accepted this year. It is going to happen and will address this growing problem by increasing the block limit and allow more Txs-

https://blockchain.info/charts/avg-block-size?timespan=1year&showDataPoints=false&daysAverageString=1&show_header=true&scale=0&address=

Quote from: ?? on ??

My confirmations are taking FOREVER.

Difficulty is increasing and confirmation times are actually averaging 7-8 minutes sir. Keep in mind the Poisson Distribution.

jeffhuys

sr. member

Activity: 252

Merit: 250

Wait, when is this hard fork going to happen? Or is this not decided yet?

LordSonjai

full member

Activity: 210

Merit: 100

thank you thank you good to know.

odolvlobo

legendary

Activity: 4522

Merit: 3426

It is extremely unlikely that any fork is going to change how private keys and bitcoin addresses work because it would cause a total disruption, invalidating all wallets, not just cold wallets.

inBitweTrust

hero member

Activity: 658

Merit: 501

Quote from: LordSonjai on March 01, 2015, 01:38:37 PM

Just curious as if wether my bitcoin cold wallet made off of bitaddress would be affected during a hard fork.

Short answer - No.

Technically, your question is nonsensical or incomplete though.

LordSonjai

full member

Activity: 210

Merit: 100

Quote from: ?? on ??

If you control private keys in the current block chain, you would control the same private keys in both block chains (old and new) after a hard fork.

FANTASTIC.

nicked

full member

Activity: 175

Merit: 100

I would like to know the same thing. I can see that this topic has been read about 45 times with no replies. Maybe no one knows.

LordSonjai

full member

Activity: 210

Merit: 100

Just curious as if wether my bitcoin cold wallet made off of bitaddress would be affected during a hard fork.

Topic: hard fork? (Read 1798 times)