Post by Admin
2017-11-23 17:08:18

What will happen to the Bitcoin in November

The plan of the developer SegWit2x is performing the fork in a way that the chain could not exist. According to them, they are upgrading the network as defined by the white paper in Bitcoin Bitcoin, description continued the longest chain is Bitcoin and it is the longest "is proof that it comes from the source of the largest CPU". If all according to their plans, a large power-hashing will go into operation the chain 2 x 1 x chain that will basically become functional blocks-blocks can take many hours to be added to the chain, the fees can be very high when people compete to get their transactions to include in the next block, and because most of the parties require a transaction are six blocks deep in the chain to consider it confirmed, confirmed time will become too long. The mine operators compete to get new Bitcoins is mined on the network and the easy way to get that prize is determined by something called the difficult adjustment algorithm every 2,016 blocks, which turns out to be every two weeks as long as a block is processed on average every 10 minutes. But if say, 90% of the miners no longer mining in that chain, will take 100 minutes to search block, 10 hours to get confirmed and 140 days to hard to adjust back.
In addition, the developer of the SegWit2x plan does not give a technical measure called replay protection that will completely separate transactions on two blockchains. If no replay protection, if both the chain exists, any transactions that occur on 2 x chain will also be replicated on the chain 1 x and vice versa. However, this will cause more problems on the lines with a capacity of less than exploitation because of the blocks will be exploited more slowly. Suppose that the chain has a capacity less than 1 x chain exploitation. That means if you are a supporter of 1 x and 2 x your coins, you will also lose your 1 x coin. (According to the core developer Eric Lombrozo, some people plan to provide special services allow people to split their money so they can Transact in them without replay the transaction on a different string.) Belshe said that they are not instituting replay protection because their intention is to have only one string, not two, after the fork.
In General, an assembly line has less power-hashing will be vulnerable to attack. If only 5% of the capacity of the existing hash still in chains, then any person who exploits would have enough energy can also transfer 5.1% the amount of current to hash the first lines and double the cost to his heart's content in the 51%. A miner can also make an attack wipeout, in which they use the power of their larger hash to exploit the blocks faster than the rest of the network in secret, without a broadcasted each new volume on the network. Then, when they left many previous blockchains, they broadcast all blocks at once, delete all the transactions have been complemented by the other miners in the interim. Then, even dealing not just six but 60 deep blocks may become invalid.
The above scenario assumes the majority turned miners all or nearly all of the power of their hash string up 2 x. But will they? The answer from the miners, including those that signal SegWit2x and those who signed the agreement in New York, not the conclusion. Forbes contacted all known miners. 56% of the capacity of the network AntPool,, BTCC Pool, BitFury, Bixin,, 1Hash, GBMiners, and KanoPool as well as 3.3% unknown hash-rate has declined to comment or did not reply to requests for comment, except KanoPool (0.8% of the power-hashing), pointed out an article I Bitcoin LK said that it was not yet decided. The miners said that they would move all their hash right up the chain of 2 x (1.5%) of Ver's and, accounted for 14.1% of the hash. The Executive Director of, Jiang Zhuoer, wrote via WeChat, "I will try my best to support 2 x, even when the mining is not profitable". However, he also said if the chain 1 x more profitable for "a long time," such as a week or two, he will allow the miners in the pool he's like to mining on the lines of 1 x. ViaBTC and BitClub, corresponding to 9% and 3.5% hash rate, say they plan to give their individual miners pick my chain. Wang Chun, CEO of F2Pool, who created the wave signed the agreement in New York and then backed out, said F2Pool will exploit the chain most profit but will have to pay for the miners by coin 1 x. Slush Pool, not to sign the agreement in New York, will exploit the chain 1 x due to lack of replay protection, although it said in a written statement that "we can consider switching only when there is a strong community consensus verified as S2X Bitcoin, according to us is not possible.
So, while it's not technically known 76.8% chain minced will support power immediately after the turn, is hard to believe that most of it will exploit the chain 2 x, because about 85% of blocks are mined today are due to signal the miners SegWit2x (falling from 95 percent a few weeks ago). Of the plans already know, 15.6% miner will surely exploit the 2 x, 12.5% of miners will allow them to choose as you like, 8.4% hash strength will exploit the most profitable chain but charged for the miner by 1 coin, and 7.4% 1 x Chain.
So far, a number of transactions and for showed that they expect to support both lines, at least initially. Coinbase, the largest owner of Bitcoins on the planet, has declared it will allow users to access the coins on both lines, and a few hours after this article was originally published, declared that it would name the BTC chain Board top and chain new B2X. Kraken, Bitfinex and Xapo, all the owners of the next largest, with nearly the same amount, there is the different stance.