Will bitcoin split?

in #bitcoin9 years ago

Below is an outline of the main events that could unify or divide bitcoin
image
1.By July 21: SegWit2x software is released and supporters begin using it.

2.July 21 to July 31: The community monitors how many miners deploy SegWit2x:
* If more than 80 percent deploy it consistently, that should signal community-wide adoption of SegWit and the avoidance of a split, at least for now.
* But if a majority do not deploy, expect anxiety within the community to grow as the focus shifts to the Aug. 1 deadline.
3.Aug. 1: UASF is deployed by its supporters, who begin checking if bitcoin transactions are compliant with SegWit.
* If a majority of miners still do not deploy SegWit2x or otherwise accept SegWit, and if UASF supporters do not back down, then two versions of bitcoin’s blockchain could come into existence: a UASF-backed one where only SegWit transactions are recognized, and another where all trades -- SegWit and non-SegWit -- are recognized.
* If a split occurs, bitcoin will likely begin existing on both blockchains in parallel, resulting in two versions of the cryptocurrency. Expect traders to quickly re-price the value of both, likely leading to massive volatility.

Sort:  

Hi! I am a robot. I just upvoted you! I found similar content that readers might be interested in:
https://www.businesslive.co.za/rdm/business/2017-07-11-d-day-for-bitcoin-as-developers-storm-the-beaches/

@rockincharmer
Good Post!
Thanks for sharing.

I Gus's so