Tuesdays with Jimmy: UASF/Segwit2x Scenarios and Timelines

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UASF/Segwit2x Scenarios and Timelines by Jimmy Song

convergence fault in the presence of non-segwit signaling blocks #85

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35 thoughts on “Tuesdays with Jimmy: UASF/Segwit2x Scenarios and Timelines

    1. I’m 100% in cryto. I get it. I think every person in the world should use Bitcoin. There is a lot of upside, which we all know. My question is, more specifically, “sidechains” and “payment channels” take signatures “off-chain”. Where do they go? Who is going to management them? Are we going to have double chain? If a part of the blockchain is removed from the blockchain, will that open opportunity for exploits from companies like PayPal? I hope not.

    2. It would be cool to see Paypal as a player, they could do their own token and run a bitcoin side-chain on Rootstock (RSK) if they wanted. or hook up with something like Teather and go side-chain. However, I think there will be a whole load of new players. I don’t see Paypal taking the initiative at this stage, it would be easier if MasterCard released a token, but would be interested to know how people think.

    3. Segwit will time stripe the blocks so stuff like Rootstock can sync with the blockchain. Rootstock (RSK) is a smart contract platform like Ethereum and uses the same programming language “Solidity”. This means Rootsock will be able to do stuff like Ethereum does i.e. have loads of ICOs running on top, but without Blockchain congestion or risking chain security. You could even run the whole Ethereum network as a Bitcoin Side-chain on RSK giving Vitalik a viable alternative to launch Metropolis as PoS without eth miner consensus.

  1. This is exactly why we need CORE devs developing ..and no one else.. world class talent.. BTC deserves nothing less, it is the one and only world class crypto.

    1. This is why Bitmain do not worry me. Ok, they sorted the hardware, but they are new to this software game. Moreover, they want to open their attack surface to 8MB. Let them, I say! Let them fork 5% of the hashrate and make BitcoinCash on the Bitcoinabc network. Let’s see how long it lasts. We just had a 13% increase in hashpower, if a load leave the diff will just go down to adjust. So the miners that stay will get a bigger reward

  2. Can anyone give me Some advice. Should I use a paper wallet so I have my private key. I dont want to spend a lot of money on a ledger right now, because I just started with BTC.

    1. Just get a trezor, ledger etc. You can store Bitcoin and Erc20 tokens ( Ether, Xem, Golem…) offline. It is simple to use. Invest 100-150 $, and you are safe.

    2. 68walter I just started BTC two weeks ago. I purchased for $300 into BTC. I cant afford Another $100 into this “hobby” right now. Thanks for your answer.

    3. Try, https://electrum.org/ nice easy wallet for noobs. It is a lite-wallet so no big files to download. Plenty of “how-to” vids around for it too. Ideal to store $300. Just make sure you take note of your 12 word seed when you setup, then you will be able to receate the wallet at anytime, on any machine, on any OS by just 12 words typed into a freshly downloaded wallet. You can also save the keys for your wallet, just don’t store seeds or keys on the same machine as your wallet. Write them out by hand if you want off-line paper storage and then shread the software wallet. Electrum have easy to follow documentation for cold storage and they are also supporting the UASF so your good to go either way.

      You can get a hardware wallet when you have a whole bitcoin.
      Anyhow, there is a currently a shortage of hardware wallets

  3. Bitmain will just keep turning signaling on and off to manipulate the price…. So they get more Bitcoin, buy low, sell high… Difference is… they know in advance when the price will tank because they hold the switch. Listen to The BITCOIN MEISTER, Gold’n’Hold people, Gold’n’Hold!

  4. everyone saying the chain will not split if bip 91 locks in segwit before the uasf, are they forgetting or just ignoring craig write’s statement that he will mine a chain that excludes segwit? he seemed fairly determined when he said that… ???

  5. gmaxwell trying to score brownie points with FEMINISTS by pretending so many women are intrested in BTC in that article. No, women will come when all the problems are solved, and they will claim that BTC is old boys’ club and they need to share.

  6. Good Job guys!
    BTW: why have you let running Full Nodes, not be a continuing part of the conversation? Per Dave Vorick @MIT: Full Nodes keep the network secure & are the REAL VOTERS on soft & hard forks……. AND to full build/buy a full node is even cheaper than Tone’s mining rig, bitseed or rasberry pi 2…. so everyone should at least be buying/building one of these and running it to strengthen the network, AND NOT BE PRONE TO ALL THIS UNCERTAINTY created by those who controlling the narrative(you all are one of those players, why not fully inform your followers???)……The more Full Nodes, the less influence mining pools have going forward. Se Dave Voricks discussion here: https://www.youtube.com/watch?v=SlyJhk8AdxA

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