KingBel
Expert Member
Sorry.. I think Trezor is a wallet.. not an exchange
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The Bitcoin Thread
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etienne_marais
Honorary Master
What is this all about: http://segwit.co/#
They say signalling for segwit has to persist for one entire period, I thought that has already been achieved ? None of the 26 periods show this under the 'activation periods' section.
Also the current signalling is only 69%
They say signalling for segwit has to persist for one entire period, I thought that has already been achieved ? None of the 26 periods show this under the 'activation periods' section.
Also the current signalling is only 69%
Segwit2x has been locked in, but not activated yet. That 69% is for the current period. Each period is 2016 blocks (~2 weeks). It should get activated at the end of the following period which starts tomorrow. In the last day 100% of mined blocks are signalling BIP141, so segwit should be activated in 15 days from now. This is a better link:https://coin.dance/blocks
Edit: The reason why the current rate is only 69% is because the period commenced before all the miners started signalling for Bip141.
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etienne_marais
Honorary Master
Thanks, that clears it up a bit.
etienne_marais
Honorary Master
So apart from Bitcoin Cash coming into play, what is 1 August all about ?
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Initially 1 Aug was going to be the date of the UASF (user activated soft fork) which had a possibility of being contentious, which could have been a problem. Then segwit2x was activated which implies that segwit will be activated and also an additional hard fork in November. So the UASF was averted, however a few days ago ViaBTC/Bitmain announced that they are going to hard fork on 1 Aug to bitcoin cash (BCC).
So we have 2 almost certain contentious hard forks, one on 1 Aug and the next one in November. The one in November may be delayed and possibly agreed to by the core developers, in which case it would be non-contentious and therefore a non event.
Adenoid Hynkel
Executive Member
So come August 1st, whatever you hold in btc you'll have the same in bcc?
I think it depends on how the exchange handles a fork. Best would be to put it in storage off any platform and then once the dust settles find an exchange to send your BTC to and you should have both BTC and BCC .. I think :O
KingBel
Expert Member
Ok.. Luno has released a 'statement' regarding what will be happening on 1st August: https://www.luno.com/blog/en/post/scaling-bitcoin-forks-disruptions
Looks like they don't plan to support Bitcoin Cash, so if you want access to Bitcoin cash tokens, you have to move your bitcoin to a "bitcoin cash compatible platform".
Looks like they don't plan to support Bitcoin Cash, so if you want access to Bitcoin cash tokens, you have to move your bitcoin to a "bitcoin cash compatible platform".
If all BTC will essentially split in 2. And they not supporting it on the platform but still hold the private keys to users BTC, does that mean they will keep the BCC tokens for themselves (should it gain traction/value/support)?
KingBel
Expert Member
I would guess so. They don't mention anything about it.. it is quite a sneaky thing to do though if that is the case. Sending them a support question now regarding that.
KingBel
Expert Member
While I wait for Luno to respond, I've been reading the position of other exchanges regarding BCC, and most say that they will basically keep your BCC, and not allocate it to your account if they do not support it.. so if BCC climbs, they get the benefit.. not you.. looks like I need to find a BCC compatible wallet before this weekend.
Archer
Honorary Master
Should point them to their own article where they describe how they'll act during a hard fork
https://www.luno.com/blog/en/post/bitcoin-hard-fork
Sorry to jump in, but just some corrections:
1. Segwit has NOT yet locked in, neither has it been activated. BIP91 has locked in. The next target is for Segwit to lock in (which should happen in the next period, if everybody plays ball). Then 2 weeks later, if the required signalling rate is sustained/achieved, Segwit will be activated. (FYI, there is no "Segwit2x" that gets locked-in or activated. The term "Segwit2x" just refers to the New York Agreement, meaning Segwit PLUS the 2mb block size hard fork.)
2. You do not need to move your BTC to a "BCC compatible wallet" before 1 August - just keep it in any wallet where YOU control the private key. At any stage after 1 August, you can get your BCC by importing your private key into a "BCC compatible wallet". This is because at the moment of the BCC fork, your "account"/private key on the blockchain is duplicated, with existing balance, on both blockchains, therefore the duplication of coins on each blockchain. Thus a "BCC compatible wallet" is just one that will look at your "account"/private key on the BCC blockchain and see your balance sitting there.
I think it is safer to not trust ANY exchanges at any time - always the safest bet IMHO
KingBel
Expert Member
Ah. yes.. it's quite clear:
Should we decide to only support one currency, we will create a mechanism for our customers to withdraw the balance or value of the other version to a compatible platform.
Let's hope they don't do a 180.
KingBel
Expert Member
Thanks for the clarification.. so moving it into any self-controlled wallet eg Jaxx should be fine for now.
I will be moving my BTC to MyCelium. But I also have a lot of investments in Alts, of which the bulk I will not sell for BTC, but HODL and hope for the best
My PTOY and CVC is too precious -- LOL!
KingBel
Expert Member
I will be moving my BTC to MyCelium. But I also have a lot of investments in Alts, of which the bulk I will not sell for BTC, but HODL and hope for the best
Yep.. I have some alt coins on poloniex.. gonna just hold onto that for now as well...
Have moved my BTC and ETH to Exodus to ride out storm. Was also curious to see how it worked. My ETH has been sitting on Luno for almost a month now. Contemplating buying some more BTC via LUNO before 1 August but dam price don’t want to fall. Hoping for some last minute jitters to kick in. When do you think the last “safe” buying opportunity will be?
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