Topic: UPDATED: Segwit and the August 1st and SegWit2x fork explained in simple terms - page 2. (Read 2957 times)

Even as an old member of the community this terms I understand but in all honesty I don't know what will the affect of it when it comes to Bitcoin's price. We need a definite conclusion on the matter we don't need to understand the meaning of those terms as everything is available throughout the web and this site. We need a conclusion or an answer if Bitcoin will still grow after August 1 or will it start to fall. Other than that I might just need to start researching more about that matter. And can anyone please guide us on what will Bitcoin's future be?

@Mad7Scientist
Good job gathering all of this information. This is easier to read and more condensed then the coverage provided by most of the bitcoin news blogs.

The old client will still work but if the network moves with the hard fork no one will accept transactions from the old folk. You will have to update your client in order to send or receive transaction that the rest of the network accepts.

Agreed. I knew it was complicated but didn't realise it was that complicated.

All SegWit chain will be regected by classic (2014) miners and clients.

Bitcoin-core 2014 and wait until everything calms down and clears up.
For Bitcoin-core need SSD 240GB or it will work slow.

@xbiv2
The best I can understand what you're saying is that original non segwit miners won't process any SegWit transactions. And possibly any normal transactions that are based on BTC that came from a SegWit transaction won't be processed either since they don't recognize the source BTC as being valid.

I don't understand the second part though since if non mining clients accept the BTC as valid which they should since this is supposed to be a soft fork then the non SegWit mining clients should accept it as valid too. Of course this situation would only happen if for some reason the SegWit miners fell below 50% and a longer non SegWit chain formed off of the SegWit chain.

Earlier I mentioned what would possibly happen if some miners made special clients that refused to mine the SegWit chain, but this doesn't apply because if that happened those special miners would start before SegWit enabled block and no SegWit transactions would exist on that chain at all.

This is a problem in an in progress soft fork situation where a clear winner hasn't won yet, in this case leave them in until the situation is resolved. The other situation is a hard fork that results in two chains. You want your coins in your own wallet so you can have coins on both sides of the fork. Your eWallet will end up on one side or the other and not give you two sets of coins. It should be the better side but still it's only one side.

okay so the bitcoin i currently hold in bitpanda and in blockchain wallet... should i just leave them there? will my coins just become what ever the outcome is?

Should i transfer my bitcoins from those online wallets to a local core wallet on my computer? if so how do i download the wallet for the 'new' bitcoin? how will my coins be duplicated to the new coin??

Will my mining rigs currently mining dash and eth and other alt coins be affected?

gaddd i hate all this forking shit! haha

Just send RAW not segwit transaction in block N+1 from B->C.
New segwit software (of miners) will accept it, BITCOIN of 2014 (CLASSIC) will reject.
It can do anyone who own BTC to pay transactions fee.

It seems like you're making up stuff xbiv2. You didn't answer my question about SegWit being a hard fork regarding your example of a transaction where N is SegWit N+1 is not and then N+1 is rejected because the previous transaction it is based on was not accepted. Or maybe you're on to something I don't know.

I don't know have Litecoin SegWit transactions now or it just option.
With litecoin all exchangers installed new software without questions.

But it not gonna happen with BITCOIN:
https://poloniex.com/press-releases/2017.03.17-Hard-Fork/

Also about 15% miners support BITCOIN 2014 (CLASSIC):
https://blockchain.info/charts/bitcoin-unlimited-share
https://blockchain.info/charts/bip-9-segwit

Checked r/btc.  The claims that it's a scam look something like the one in this thread.
Only SegWitx2 is poorly tested and new.  SegWit itself has been around for ages, and is already implemented on Litecoin.

SegWit is ok (expect it not well tested), but "soft fork" imposible.

This discussion soon will become a battlefield of hate, like in every other case when different scaling solutions are being discussed.
Can we just agree that there is not 100% perfect scaling upgrade? There will be always people hating it because... reasons.
We will have SegWit activated whether you like it or not as some kind of scaling is needed ASAP. Deal with it and don't be bitter.

Dear god, you can't even post a useful guide to others without it being hijacked by trolls trying to push their own agendas down your throats.

Exchangers will make decision.
Poliniex.com position:
https://poloniex.com/press-releases/2017.03.17-Hard-Fork/

Wouldn't that then make SegWit a hard fork if clients do not accept it? Are you referring to miners or regular wallet users in this example?

Not realy:
Example:
In block N have segwit transaction from A->B .
In block N+1 have normal transaction from B->C .
Block N+1 rejected by BITCOIN of 2014 (CLASSIC) because B have zero balance.

SegWit (not SegWit2x) is a soft fork that only affects miners. Well it potentially affects everyone but only miners need to be involved in it. You can't choose to not accept it unless you modify your client, and if you do you'll be on a chain thet won't be mined unless some miners have done the same modification and are mining a non segwit chain.

Segwit not really well tested
Exchangers will accept it only like fork of BITCOIN of 2014 (CLASSIC)
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Exchangers Position:
https://poloniex.com/press-releases/2017.03.17-Hard-Fork/
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Have all answers about Aug 1.
Easy topic:
https://bitcointalksearch.org/topic/m.19988238
Complex topic:
https://bitcointalksearch.org/topic/m.20119234
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Anyway smart people will make smart decision, no one want kill BITCOIN

Only for the useless Core altcoin. They will still be working great for actual Bitcoin!