Bitcoin 2x hard fork reddit
Jeff even responded on Twitter to my bitcoin 2x hard fork reddit predicting that B2X will be destroyed in the futures market:. What this meant was they were going to make all their nodes switch to SegWit software from August 1st and thus reject all mined blocks which do not comply with the code. I even offered him 2—1 and a month of grace to let B2X settle in the market.
You have bitcoin 2x hard fork reddit some achievement on Steemit and have been rewarded with new badge s: Award for the number of upvotes. I expect that some will read this and offer valid counter-arguments back, which is why this debate is so interesting. Lots of the mining operations work in pools, whereby lots of miners work together and share the mining rewards. Luckily I think that financially I will be better off without Segwit2x.
In that post, I highlighted a couple of essential terms worth knowing, which I bitcoin 2x hard fork reddit included below but added to: If when miners are adding bitcoin 2x hard fork reddit to a block, and it reaches its 1mb limit, then any other pending transactions need to wait in the memory pool until the next block. The big block argument is that we can keep increasing the size of the block to handle more transactions and therefore there is a single record of all transactions kept within the blockchain, and this, by itself, is not a long-term solution as it can increase centralisation. There are two types of fork possible, a soft fork and a hard fork and they differ by what the rule changes in the software are:
Big Block Arguement The big block argument is that we can keep increasing the size of the block to handle more transactions and therefore there is a single record of all transactions kept within the blockchain, and this, by itself, is not a bitcoin 2x hard fork reddit solution as it can increase centralisation. I accept we will need bigger blocks at some point but bitcoin 2x hard fork reddit best achieved first by making the blocks as efficient as possible and then increasing the block size as required. Support for the Bitcoin portfolio for SegWit2x is already a talking point because different plans may mean that users lose Bitcoins. The UASF proved that users controlled the network and the single best way for users to continue to control the network is to encourage more to operate full nodes.
Jeff even responded on Twitter to my article predicting that B2X will be destroyed in the futures market:. This is why we are facing another fork, the commercial guys who want to control bitcoin 2x hard fork reddit Bitcoin direction are forking the code to take control away from Core and give it to who they want. If enough of the network decides to start mining this new version of the software, Bitcoin will fork, and the chain will split, in this scenario, we now have two bitcoin 2x hard fork reddit and essentially two separate coins. The issue this causes is that when the blocks are filling up, the miners will increase their fees for including transactions within the block, and therefore it becomes a supply and demand bidding war for having your transaction included. Miners, and mostly that means mining pool operators, are also responsible for which version of the software code Bitcoin is using.