Bitcoin 1 august hard fork

Statement on Bitcoin User Activated Hard Fork. we will be launching a brand new BCC mining pool and lock the activation time of UAHF at 12:20 1st August 2017.The Bitcoin Cash (BCH) hard fork. said they would not support Bitcoin Cash and urged their users to who felt otherwise to withdraw their coins prior to August 1,.If the demand is less for the soft-fork chain, then both chains may co-exist indefinitely.Originally, at least, the term referred to a change to the Bitcoin protocol that makes previously invalid blocks or transactions valid.On August 1, bitcoin experienced a hard fork that created a new version of the cryptocurrency called bitcoin cash.I wrote this article myself, and it expresses my own opinions.

August 1 st has been a long-awaited day for months on the calendars of Bitcoin enthusiasts worldwide.Slush Pool along with other mining pools such as Bixin, will not support Bitcoin Cash and its August 1 hard fork execution.BIP148 nodes will never acknowledge the legacy chain, so these nodes will not switch to the legacy blockchain regardless of which chain has more hash power.The bitcoin community has failed to prevent a hard fork and the veteran.

Bitcoin (BTC) hard fork vs. Bitcoin Cash (BCH) - changelly.com

On Aug 1, the Bitcoin network will split with the Bitcoin Cash (BCH) hard fork.

On 1 August 2017, the Bitcoin blockchain was officially hard-forked, creating a new version of the Bitcoin (BTC) currency, now called Bitcoin Cash (BCC, or BCH.

The other scaling proposal in the running is SegWit2x, which is also supported by Bitmain.If this does not occur, users will not run BIP148 node software after August 1st so as to prevent a chain split.In simple terms, the Bitcoin network is just thousands and thousands of individuals and companies running the same piece.

Bitcoin vs. Bitcoin Cash: What the Aug. 1 Hard Fork Means

Sell Bitcoin ahead of 1st Aug Hard Fork Bitcoin Forum: September 10.The bitcoin protocol could see its first major fork on August 1.

SegWit2x code should, according to its timeline, be up and running before August 1st.It is thus more or less assumed that not everyone will adopt the new rules, which indeed seems likely.Generally, after a short period of time, those on the old chain will realize that their version of the blockchain is outdated or irrelevant and quickly upgrade to the latest version.

The Upcoming Bitcoin Cash Hard Fork: The Choices for

Most likely, one of the first two scenarios will unfold, where BIP148 either succeeds triumphantly or fails definitively, and Bitcoin will go on as it were, for better or for worse.Possible Scenarios A confrontation will happen on August 1st, but right now the exact outcome is unknown because the outcome will depend on the amount of support that miners give to the two sides.Then all SegWit ready nodes, which currently make up over 80% of the network, will activate and begin SegWit enforcement, and thus SegWit will have been successfully implemented into the Bitcoin Network.Neither side is the clear winner and the blockchain splits, where two versions of the blockchain emerge.Bitcoin implemented a hard fork on Aug. 1, and a new coin, Bitcoin Cash.

Official statement on the upcoming Bitcoin hard fork

See the details of the Bitcoin Hard Fork completed on August 1 as planned as the network split into two chains.However, it is very risky to buy, accept or hold any of the BIP148 Bitcoin, too.

Hard or Soft: Bitcoin Community Gears Up For August 1

August 1st, and the Future of Bitcoin Bitcoin Improvement Proposal 148 (or BIP148 for short) is a UASF that encourage users to push miners to upgrade to SegWit.

In so doing, it forces the existing activation mechanism to deploy SegWit.The biggest stories in bitcoin delivered weekly to your inbox.

There are three possible outcomes of the soft fork, although the exact outcome is unknown as the outcome will depend on the actions of the nodes on the network.I hope there remains no confusion over my definitions, especially so in my defining of a UASF.Mexican Bitcoin Exchange Bitso Aids Red Cross Earthquake Relief Efforts.