Bitcoin 1/August/2017 - Segwit/BIP91/BIP148/HardFork (Explained)

PinguSpy

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More content explanation: http://www.coindesk.com/happen-bitcoin-visual-guide-scaling-outcomes/

&

Video explanation (more details, good for newbie):



#UASF BIP148 Countdown: https://www.xbt.eu/



 
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Since it is a currency which is traded on the stock exchange is to be expected even after the conversion, the course may be a short time, but I believe that this will recover quickly.
 
Looks like no hardfork though.
Segwit is coming.
 
This was really easy. All this BIP91 and 148 was getting confusing for me :D
 
Okay. One Question: I have around $30k worth of BTC stored in my Blockchain info wallet. Shall i move those to another Wallet to stay on the safe side. or its fine i don't need to worry and leave those all there?
 
I thought bip91 already reached 80% support and so we should have had a hard fork.??
 
I read through all of the articles from that link. This is what I take from it, in short -

Bitcoin has to be upgraded in order to grow, block size needs to be increased and the way transactions are stored needs to be made more efficient. Everyone agrees with this, the only disagreement is how the upgrade should take place and how miners can co-ordinate with each-other during the upgrade. The risk is that not enough miners agree on the best route and a split coin is the result. The truth is that nobody will benefit from a split in the coin - because everything with be devalued. Considering the fact that everyone (Or at least the majority) agree on the upgrades, I think it’s much more likely to go ahead, you will have the people in the know agreeing on whatever looks like the best option and everyone else will follow their lead.

Price probably wont go up or down based on the result because most of this stuff is already factored in. Price might even go down just purely because its inflated right now for being in the spotlight and for grabbing everyone's attention.

But in the long term its just going to continue rising - as more and more people start accepting and using bitcoin, its value will go up to meet that demand - thats just simple economics right? And more relevant when it comes to crypto-currencies because the production of new coins is forever diminishing.
 
I read through all of the articles from that link. This is what I take from it, in short -

Bitcoin has to be upgraded in order to grow, block size needs to be increased and the way transactions are stored needs to be made more efficient. Everyone agrees with this, the only disagreement is how the upgrade should take place and how miners can co-ordinate with each-other during the upgrade. The risk is that not enough miners agree on the best route and a split coin is the result. The truth is that nobody will benefit from a split in the coin - because everything with be devalued. Considering the fact that everyone (Or at least the majority) agree on the upgrades, I think it’s much more likely to go ahead, you will have the people in the know agreeing on whatever looks like the best option and everyone else will follow their lead.

Price probably wont go up or down based on the result because most of this stuff is already factored in. Price might even go down just purely because its inflated right now for being in the spotlight and for grabbing everyone's attention.

But in the long term its just going to continue rising - as more and more people start accepting and using bitcoin, its value will go up to meet that demand - thats just simple economics right? And more relevant when it comes to crypto-currencies because the production of new coins is forever diminishing.
Your post makes sense and finally some relief for me. Cheers man. Thank you for your post man.
 
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