Breakdown of Bitcoin August 1st development

in #bitcoin7 years ago (edited)

Block details within the last 7 hours as we move today's August 1st 2017.
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Breakdown of the miners involved and their support

SegWit2X (intention): AntPool, BATPool, BitClub, Bitcoin.com, BitFury, Bixin, BTC.com, BTC.top, BTCC, BW Pool, ConnectBTC, F2Pool, ViaBTC

Emergent Consensus: AntPool, Bitcoin.com, BTC.top, Slush Pool, ViaBTC

Segregated Witness (BIP 141): BitClub, BitFury, Bixin, BTCC, BW Pool, F2Pool, GBMiners, Slush Pool

BIP 91: AntPool, BATPool, BitClub, Bixin, BTC.com, BTC.top, BTCC, BW Pool, ViaBTC

BIP 100: 1.1% of the Bitcoin mining network support BIP 100

Current Status of BIP 91 lock in and activation

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Historical Bitcoin support for block

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Blocks mined in the last 7 days and as of today

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Grid View of the last 1000 blocks

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This is the most current status of the Bitcoin August 1st development, it is important to understand and remember that SegWit isn't activated
Base on my research and I am subject to correction, we theoretically have until July 26 before the system comes online. Before you ask, I am taking into account the Activation Period listed on SegWit.co.

These are my thoughts, there is an "intention" to activate SegWit2X and as of today we have 88.1% of the miners are on board. However, some key players heavily oppose the idea like GM Miners, Slush Pool, etc, and they can continue to run the current protocol which could lead to the possibility of up to three different coins coming out of the process. I came across an interesting research that describe SegWit as a soft fork solution for malleability that would scale up the block size but doesn't really solve the current network capacity. So it is important to realize, that this is a temporary solution and not a permanent fix. Another issue, SegWit uses a format that makes it almost impossible to reverse if future updates are needed and forces Bitcoin to proceed on the current Core's roadmap. I would love to highlight more on Lighting Network which uses SegWit but this would make this to lengthy but this is also a very important issue. In summary, we should all familiarize ourselves with the current Bitcoin Core roadmap and let our voices be heard. After diving into the issue I realize that this is much more than Bitcoin price going parabolic or falling or three or four different Bitcoin as we would have it, it is a fight to have as much influence in the community as possible.

Given the current intention of miners, it pretty much a done deal with SegWit2X but its time that we Bitcoin users ensure that Bitcoin remains a peer-to-peer medium of exchange and we maintain the vision of Satoshi Nakamoto at its core.

Thanks for reading, please Upvote, Resteem and follow @daudimitch

==========Sources===========
https://coin.dance/
http://segwit.co/#

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Thanks for this breakdown and clearing up a few things for me here. The situation is a done deal as we can see, we will have to wait to see the out come and what impact and repercussions this has on the price of Bitcoin, the other altcoins and mainstream adoption of Bitcoin etc. as well. There is the possibility that there may be a Bitcoin and Bitcoin classic or something. Lets hope any new development(s) don't hurt Bitcoin in the long run.

You just have to keep up with the platform you use to store your Bitcoins, they may have guidelines which they follow. This is Coinbase outline