Topic: When do we know bitcoin is safe? Segwit (Read 1113 times)

from then I got involved with Bitcoin very first time. basically, I was taught about Bitcoin from my cousins, he completely confident about its credibility because of his tight involvement and his experience. so do i.
from my perspective, Bitcoin should be more credible and reliable than what is it now. because people always choose the safe side.

I worried about this,if someone changed btc code

Don't panic, but your Bitcoins may just vanish into the ether next month
Well, actually, do panic. A pending code change could bring a period of instability
The community-driven organization overseeing Bitcoin on Wednesday warned that any Bitcoins received after Monday, July 31, 2017 at GMT-0700 may vanish into thin air or be rejected as invalid.

Bitcoin.org said that at the end of the month, Bitcoin confirmation scores – a number that represents the difficulty of altering the associated transaction – may become unreliable for an unknown period.

"This means that any Bitcoins you receive after that time may later disappear from your wallet or be a type of Bitcoin that other people will not accept as payment," the group said.

The reason for this "potential network disruption" is Bitcoin Improvement Proposal 148 (BIP 148), which describes a "user-activated soft fork" (UASF). It's an effort to implement a code revision referred to as a Segregated Witness, or SegWit, a method for separating signature data from transaction identifier data in a Bitcoin transaction.

Doing so offers a number of ostensible benefits, including increasing the Bitcoin blocksize, limiting the extent to which transaction data can be modified by third parties, and simplifying scripting upgrades.

The SegWit operation depends on the consensus of Bitcoin miners. If a majority of the Bitcoin miners signal their support through their mining activity, the change should become active across all compatible Bitcoin clients.

But if BIP 148 is only embraced by a minority, the blockchain could split. That would create a situation where BIP 148 Bitcoins and legacy Bitcoins would be incompatible.

A few days after Aug 1st the storm should have calmed. As mentioned in previous posts, keep checking this forum for constant and reliable updates especially by Theymos, the Administrator. I have however decided to keep my btc. No panic selling. I will hold on, come what may!

Bitcoin protected with many people:
1. Miners (not only mining pools but miners itself, miner select pool with policy he accept)
2. Exchangers (at now main giver of price to Bitcoin)
3. Mining pools.
No one of this people want bad for bitcoin.
Not trust to bitcoin-core developers and use bitcoin-core of 2014 https://github.com/bitcoin/bitcoin/releases/tag/v0.9.1
And wait until everything will clears up.
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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

A public announcement will be broadcast by theymos.

There will also be a banner html marquee scrolling across the top of all Bitcointalk.org forums.

See the flowchart https://bitcointalksearch.org/topic/bitcoin-scaling-flowchart-2030177.

The look of everyone holding to Bitcoin is the first of August for the segwit to be carried out , so bringing it down to 24th July is not the best.

very informative post , thanksi understadn it now

Thanks all!
Good information 

There is a reason for the 23rd or 24th July dates being bandied about.  It's the estimated (not guaranteed) date when BIP91 could lock in if there's sufficient support for it.  -If- BIP91 is activated, then we'll know for certain by the 26th July (or a date roughly around that period) as to whether UASF/BIP148 gets obsoleted and the 1st August date becomes a complete non-event.

Keep an eye on the forum and read news articles. You get the hint from users and news when its a green signal and safe to trade.
Read and follow this topic: https://bitcointalksearch.org/topic/guide-handling-splits-uasfs-bip148-etc-2012799
Will help you a lot!

No  
2 weeks ago I sell all my coins (almost) to USDT.
So I want to buy again my BTC  

this sohw alot info about bitcoins

How you got that number, 24th july 
We will know whether network will split or not when segwit will be activated on 1st august, I think time is 24:00 UTC.

There is hot topic thread speaks about this upcoming dump and segregation on August 1st. Simply hold the  bitcoins if you get via project or campaign. Don't sell it on last week of this year and 1st week of August. We may create a demand about bitcoin to sustain the value in market.

Dont be panic dude. Just dont spend your bitcoin in and on aug 1. Just try to leave it or watch your bitcoin for 2weeks and wait for their announcement. We are all excited , bit nervous and afraid on aug 1 but still we all want our expectation be done.

When you see this at more than 95% : http://bitcoin.sipa.be/versions.html



More than 75% of the Bitcoin Network read this activator only.

Segwit not really well tested
Exchangers will accept it only like fork of BITCOIN CLASSIC
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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
Reply
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Anyway smart people will make smart decision, no one want kill BITCOIN

The price will keep going down until segwit locks in, which will cause a rise. This rise will not last because the underlying conflict is the hardfork menacing in the last months of the year. Until that isn't cleared out from the horizon, the price will tend to crashing. Bitcoin cannot thrive if a conflict of the magnitude of a hardfork is around the corner.

This is what im keeping my eye too on which those things that would be mentioned by theymos on those days. I have already read on the post and quiet somehow understand on the things that would  happen on the upcoming event. He already said precisely on the things that we would possibly to do incase if theres really a split.