Post by Admin
2017-11-23 17:01:27

How does Bitcoin create the world's most expensive game

As you know, Bitcoin is not like that another virtual money as people play the game normally "hoeing" to buy the map in the game, not the banks, not the intermediate transactions, not the card or papers  when dealing, rare and limited number as gold , ... the bitcoin has become the currency of causing the fever around the world in several years.
On the international stage, bitcoin can be exchanged directly by the personal computer through a file for a web page or without an intermediary financial institution. In the commercial, a bitcoin is subdivided into 100 million smaller units called satoshis (to creators bitcoin), defined by eight decimal digits. So 1 bitcoin = 100 millions satoshis.
Bitcoin has different activities than typical currencies: there is not a Central Bank would manage and it just based on the peer network on the Internet by the user's computer.
If the cypherpunks compared the entrepreneurs representing the Division of philosophy, SegWit vs. SegWit2x is a politics-and it is a very powerful political. The main stakeholders of the Bitcoin are the core developers of the technology, the people who exploit the profit, who started a new business and the users, the people from the immigrants send money back home to the 1% want to visit the gold rush techniques This new number.
The core developers of the Bitcoin was responsible for the Protocol, technical upgrades for the network. (They are the designers of the House) They have the support of a youth team of Bitcoin, who often espouse their views on the debate about the size of blocks through, e.g. their Twitter photos when hats camo are embellished with abbreviations hard only core Bitcoiners will know as "UASF", or by changing the Twitter handle of them to include their location on the block size Bitcoin to @ name [NO2X].
The miner's Bitcoin is the person operating the machine has power and network security and ensure Bitcoin transactions are put on the block. (They are the builders.) They have long, as proponents of the larger blocks. However, by the year 2015 and 2016, the year they also do not want to reject the core group of the Bitcoin. In that year, Coinbase and some professional blocks developers tried to get the help of the operators to take more effort to increase the block size, but the miners decided to stick with the core developers and getting them to build larger blocks. For a long time, the developer and the main parties are miners in extended debate, while businesses try to take advantage of less interference.
In February the year 2016, at a meeting in Hong Kong, a group of miners and experts have agreed to compromise on both the SegWit and block 2 MB (Yes, exactly SegWit2x solutions today)-a treaty which would later be called Hong Kong. However, the developers there do not represent all of the core group, and in the end, they only work on SegWit. Once the Core has code completion in the autumn of the year 2016, because they do not want to control the network of this permission, they declared that the SegWit will only be accepted if 95% of the miners signaled intention through it. However, the first six months, less than 30% of them were there. Miners feel betrayed by the developers because abandoned the contract on the fork 2 MB hard promises; Back then, says that at least one miner promises back SegWit without a rigid fork but does not go through.
Some of the core supporters of the Bitcoin has excited about SegWit had become frustrated because the miners were holding it hostage that they had threatened base level changes are called UASF, the user activates the software on 1 August, will compel SegWit on the network and can be divided into two Bitcoin chain. (Perhaps concerned that, the support of the House for SegWit mining has increased 45%).
That is when the political groups, thirdly, enterprises, steps out on the sidelines. At the end of May, in Consensus, the largest Conference on the blockchain, held at the Marriott New York and was formed by a subsidiary of Digital Currency Group, invested nearly 100 securities companies, many businesses were JV to represent millions of people who use have a brokerage contract with the miners-SegWit2x, like the Hong Kong agreement. (While some developers have been invited to attend this meeting, with the consent of them now known as the New York agreement, nothing has happened.) This group, at the time of signing include 58 companies and 83% of the Bitcoin network computers, the statement will apply SegWit, along with volume 2 MB, if 80% of the miners signaled their support for it. The mining of the signal reaches that threshold in two weeks. Suddenly, a plan to change the networks is in the works-but the core development team of the Bitcoin which so far has been controlled by the Protocol was not put through, let alone support it. They and their supporters have called the New York agreement on the takeover of the Bitcoin company and dismissed the notion that Bitcoin can be controlled by "the return". Mike Belshe, CEO of security company Cryptocurrency BitGo, who is one of the SegWit2x the developer, answered, "I believe that the New York Agreement team is larger than the core team. Consider the people who check out the source code for the core Bitcoin and see if it is greater than 60 people. It doesn't have to. " (Barry Silbert of DCG and main developer of SegWit2x, Jeff Garzik, declined to comment.)
Although it can overcome the prolonged deadlock, the SegWit2x plan may have had a fatal flaw. It enabled the upgrade to SegWit in August and plans to increase the block size 2 MB up 90 days later. That means that in the interval between the two parts of the plan, Bitcoin has is a coin of 1 MB with SegWit - the coin that the developers want to but the miner has not allowed. So now developers and their supporters-cypherpunks-trying hard to prevent the upgrade to 2 MB, or at least to ensure that 1 MB coin with SegWit still exists and tagged Bitcoin.