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Topic: The OFFICIAL SegWit Activation Thread - page 4. (Read 3495 times)

legendary
Activity: 2968
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August 24, 2017, 05:16:55 AM
#44
segwit is activated, so why no >1MB block has been mined until now?

Because SegWit has nothing to do with increasing the block size. Among others, it's a more efficient way to store data so that it takes up less space in the blocks. In other words, SegWit transactions are leaner (smaller) in size so you can fit more of them in the same 1 MB block. Looking at blockchain explorer now but can't quite see this happening yet. Give it some time, pretty sure most of the txs are not yet SW.

Is there currently any way you can tell just by viewing from blockchain explorer btw?
sr. member
Activity: 439
Merit: 252
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August 24, 2017, 05:00:01 AM
#43
segwit is activated, so why no >1MB block has been mined until now?
legendary
Activity: 1652
Merit: 1483
August 24, 2017, 04:26:47 AM
#42
Now that SegWit  is activated let's watch how does it work with the transactions, and their fees. Hope it benefits BTC and it's users, so that the BTC can increase more in value.
SegWit makes sure that block sizes will decrease significantly in size, and from there it's assumed that the fees will go down significantly as well. I however would like to see it happen first, before I am going to believe it.

huh? it makes it possible for blocks to increase to 4MB at most (in the worst case scenario). that's a pretty significant increase. by addressing transaction malleability (and therefore making a large scale lightning network possible) we can maybe prevent future block size increases from being necessary. but they won't be decreasing.

Large benefit now that SegWit has been activated, is that the implementation of the Lightning Network is now closer than it ever was. This will ultimately result in even lower fees.

i'm excited for LN. i'm a little worried about the logistics of transaction routing, but even a hub-and-spoke model would be useful, since it's all trustless. if we just took everyone's bitpay and coinbase transactions offchain and into payment channels, that would be a huge optimization right there.
legendary
Activity: 1372
Merit: 1032
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August 24, 2017, 04:20:08 AM
#41
I'm guessing that this doesn't affect paper wallet as you just import the private key into a SegWit enabled wallet.

this was a backward compatible upgrade which means everything that was working before should continue to work after the upgrade (fork) too.
any paper wallet that was created before this fork is using the old keys and those keys are and will be valid forever. so the wallets should continue supporting it.
sr. member
Activity: 420
Merit: 255
August 24, 2017, 04:16:10 AM
#40
I don't quite understand all the intricacies, but I see what transactions I have no problems and the price of bitcoin has risen to 4,240 USD. The growth is stable. Perhaps our train started, and the next stop will be 5000 dollars.
legendary
Activity: 1526
Merit: 1179
August 24, 2017, 04:11:17 AM
#39
Now that SegWit  is activated let's watch how does it work with the transactions, and their fees. Hope it benefits BTC and it's users, so that the BTC can increase more in value.
SegWit makes sure that block sizes will decrease significantly in size, and from there it's assumed that the fees will go down significantly as well. I however would like to see it happen first, before I am going to believe it.

Large benefit now that SegWit has been activated, is that the implementation of the Lightning Network is now closer than it ever was. This will ultimately result in even lower fees.

Lightning Network is going to help in regards to offering people the ability to finally conduct micro transactions ultra fast, and ultra cheap ~ this is what a lot people were desperately waiting for.
legendary
Activity: 910
Merit: 1000
August 24, 2017, 04:09:07 AM
#38
That's wonderful news that SegWit is running! This should make life so much easier for us  Smiley
sr. member
Activity: 476
Merit: 250
August 24, 2017, 03:42:12 AM
#37
Now that SegWit  is activated let's watch how does it work with the transactions, and their fees. Hope it benefits BTC and it's users, so that the BTC can increase more in value.
legendary
Activity: 1652
Merit: 1483
August 24, 2017, 03:30:02 AM
#36
I think a lot of wallet providers are going to run Beta testing on new SegWit wallets, before they permanently switch over to test it's stability and security. It would be better for them to do this, to make sure SegWit performs as promised.

i think the vast majority of testing has been done. segwit has been running on testnet for many months now. but it will still take wallet providers some days to roll out the beta and/or final releases now that it's active on mainnet.

People might be given the choice between SegWit enabled wallets and old Legacy wallets.

i imagine so. this is not so unlike the upgrade to P2SH or multi-sig bitcoin addresses. legacy addresses and transactions are fully compatible with the network so there's no reason why users should be unable to use them.

I am curious to see how SegWit improvements will work and what performance increase there will be. ^smile^

it'll sure be interesting to see everyone's claims tested regarding how fast everyone will upgrade. according to jeff garzik, it'll take years for most of the ecosystem to upgrade....
legendary
Activity: 2184
Merit: 1024
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August 24, 2017, 01:49:29 AM
#35
I'm guessing that this doesn't affect paper wallet as you just import the private key into a SegWit enabled wallet.
legendary
Activity: 3542
Merit: 1965
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August 24, 2017, 12:34:00 AM
#34
I think a lot of wallet providers are going to run Beta testing on new SegWit wallets, before they permanently switch over to test it's stability and security. It would be better for them to do this, to make sure SegWit performs as promised. People might be given the choice between SegWit enabled wallets and old Legacy wallets.

I am curious to see how SegWit improvements will work and what performance increase there will be. ^smile^
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Activity: 364
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August 23, 2017, 11:50:49 PM
#33
~
Hi, I don't really understand since i am a newbie here that is seeking and learning bitcoin related things. I ha ve a question. What do you mean by Segwit-Activated- Wallet? What does it mean? that i should use and create another wallet that is segwit-activated? and what does that mean that i've read on coindance that the revolution will not be centralized? Thank you sir.

he means a wallet that supports SegWit keys and can make a SegWit transaction.
SegWit is activated and the bitcoin network is now accepting these transactions, but you have to make them. and for that you can't use old version of wallets.
Does it mean i just need to update my wallet software? or wallets will change my "wallet address" in order to activate "Segwit" on that certain wallet? Thank you.

yes, most wallets that i know have already enabled the support for SegWit. they have the code written, tested and everything but the released versions don't allow you to create the "new addresses" yet because SegWit was just activated.

for example electrum added the code 5 months ago but it is only on testnet.

just wait and see what the wallet you are using says. they will surely release something to guide you.
therefore old wallet address yet updated software can feel the activation of segwit? I will use electrum as my wallet later
legendary
Activity: 3472
Merit: 10611
August 23, 2017, 11:43:56 PM
#32
~
Hi, I don't really understand since i am a newbie here that is seeking and learning bitcoin related things. I ha ve a question. What do you mean by Segwit-Activated- Wallet? What does it mean? that i should use and create another wallet that is segwit-activated? and what does that mean that i've read on coindance that the revolution will not be centralized? Thank you sir.

he means a wallet that supports SegWit keys and can make a SegWit transaction.
SegWit is activated and the bitcoin network is now accepting these transactions, but you have to make them. and for that you can't use old version of wallets.
Does it mean i just need to update my wallet software? or wallets will change my "wallet address" in order to activate "Segwit" on that certain wallet? Thank you.

yes, most wallets that i know have already enabled the support for SegWit. they have the code written, tested and everything but the released versions don't allow you to create the "new addresses" yet because SegWit was just activated.

for example electrum added the code 5 months ago but it is only on testnet.

just wait and see what the wallet you are using says. they will surely release something to guide you.
legendary
Activity: 1652
Merit: 1483
August 23, 2017, 11:34:27 PM
#31
The no. of transactions are almost the same as non-Segwit block. I thought that transactions will double by the time we have Segwit.

Another funny thing is Antpool mined an empty block right after it. How can that be with the mempool having 30,000 unconfirmed transactions?

https://blockchain.info/block-height/481828

they do spy mining, so they always mine some empty blocks. no surprise. they are concerned only about their mining income, not providing the supposedly much-needed capacity that big blocks will provide.

Anybody knows how to send a Segwit BTC transaction ? Do we need to have a specific wallet for this?

i'd wait a bit before risking anything. i'm pretty sure you can send segwit transactions using the latest version of core, but i'm not home to check. the TREZOR Beta Wallet will have segwit enabled in the next couple days.
legendary
Activity: 1638
Merit: 1013
August 23, 2017, 11:32:36 PM
#30
Do we know if larger blocks can now actually be built by the pools? It looks like the block sizes of the first few blocks are still the same than pre-SegWit activation. What is the estimate when we will see a block size processed >1MB?
sr. member
Activity: 588
Merit: 250
August 23, 2017, 11:28:22 PM
#29
Why do some people dislike Segwit? I have heard only good things about it and if it will improve and evolve Bitcoin why stop it?
full member
Activity: 364
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August 23, 2017, 11:24:38 PM
#28
~
Hi, I don't really understand since i am a newbie here that is seeking and learning bitcoin related things. I ha ve a question. What do you mean by Segwit-Activated- Wallet? What does it mean? that i should use and create another wallet that is segwit-activated? and what does that mean that i've read on coindance that the revolution will not be centralized? Thank you sir.

he means a wallet that supports SegWit keys and can make a SegWit transaction.
SegWit is activated and the bitcoin network is now accepting these transactions, but you have to make them. and for that you can't use old version of wallets.
Does it mean i just need to update my wallet software? or wallets will change my "wallet address" in order to activate "Segwit" on that certain wallet? Thank you.

You will probably need to update the software.

Then once they enable segwit future addresses should be segwit.
So the old wallet address will not feel the segwit changes on bitcoin?
full member
Activity: 364
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August 23, 2017, 11:18:01 PM
#27
Anybody knows how to send a Segwit BTC transaction ? Do we need to have a specific wallet for this?

No, Most probably, All transaction made on block greater than 480824 is already in Segwit effect.

Give this a read... I think it would apply to most other wallets also

https://blog.trezor.io/prepare-get-ready-segwit-segregated-witness-activation-bitcoin-wallet-950bb2196de9




...After your done reading
and once your wallet has segwit address move your coins to there and you can take advantage of the higher block limits.
Hi, I don't really understand since i am a newbie here that is seeking and learning bitcoin related things. I ha ve a question. What do you mean by Segwit-Activated- Wallet? What does it mean? that i should use and create another wallet that is segwit-activated? and what does that mean that i've read on coindance that the revolution will not be centralized? Thank you sir.


You generally don't need to change anything.

Segwit uses a new type of address and all wallets over the coming days-weeks should begin to enable them.

So when you click on receive, it should give you the new segwit address to use.  Every wallet has a different schedule when they will enable the function but it will most likely be a seamless transition for most users.  You will not be able to send a segwit transaction until you have coins parked in a segwit address, so once you can get a segwit address just move your coins over to it.  Then you won't be fighting for space in the blocks with other users sending legacy transactions.
Oh my god, i think my brain just exploded. Do you mean that segwit addresses will be implemented to the wallets which means the current wallet i will use will change my "bitcoin wallet address" in order to feel the changes of segwit activated address?.
hero member
Activity: 1008
Merit: 1000
August 23, 2017, 11:15:10 PM
#26
~
Hi, I don't really understand since i am a newbie here that is seeking and learning bitcoin related things. I ha ve a question. What do you mean by Segwit-Activated- Wallet? What does it mean? that i should use and create another wallet that is segwit-activated? and what does that mean that i've read on coindance that the revolution will not be centralized? Thank you sir.

he means a wallet that supports SegWit keys and can make a SegWit transaction.
SegWit is activated and the bitcoin network is now accepting these transactions, but you have to make them. and for that you can't use old version of wallets.
Does it mean i just need to update my wallet software? or wallets will change my "wallet address" in order to activate "Segwit" on that certain wallet? Thank you.

You will probably need to update the software.

Then once they enable segwit future addresses should be segwit.
full member
Activity: 364
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August 23, 2017, 11:07:55 PM
#25
~
Hi, I don't really understand since i am a newbie here that is seeking and learning bitcoin related things. I ha ve a question. What do you mean by Segwit-Activated- Wallet? What does it mean? that i should use and create another wallet that is segwit-activated? and what does that mean that i've read on coindance that the revolution will not be centralized? Thank you sir.

he means a wallet that supports SegWit keys and can make a SegWit transaction.
SegWit is activated and the bitcoin network is now accepting these transactions, but you have to make them. and for that you can't use old version of wallets.
Does it mean i just need to update my wallet software? or wallets will change my "wallet address" in order to activate "Segwit" on that certain wallet? Thank you.
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