various Bitcoin personalities on Twitter, youll notice that a lot of people have uasf in their Twitter name. That is, transactions on one chain should not be valid on the other. Economic nodes are the nodes that matter, like the nodes at various exchanges, wallets, miners, etc. Thus, getting an exchanges support likely means there is no chance of Bitcoin merging back nvidia quadro fx5800 bitcoin to one chain. Low liquidity means that the futures are very easily manipulated, which likely means futures wont be a reliable indicator until the event happens (for those that doubt this, ask betting markets what happened with Brexit or Trump). If youre a user on the network, that means that transactions will be slower for two weeks at a minimum (longer if the hashing power is lower) and more likely, there will be some serious disruption as merchants and exchanges will likely suspend any Bitcoin.
A Bitcoin Beginners Guide to Surviving the BIP 148 uasf
How do i accept bitcoin
Cost per bitcoin
Questions for bitcoin
Bitcoin Core development team, would roughly double Bitcoins block size limit, while laying the groundwork for further scaling solutions. I have written about this before, but this article will spell out what will be required for the uasf to work. But some users werent happy with that. Uasf supporters often argue that mining pools were incentivized to signal for SegWit because they wanted to avoid the activation of BIP 148 for more political reasons. If some users dont like SegWit, for example, they can choose not to upgrade. Because of this lockup custodial risk, futures are not something we can expect the vast majority of bitcoin holders to utilize. Wallets and BIP-148 Wallets in the Bitcoin space are almost entirely open-source. At a specific point in time, the Bitcoin economy tightens up the rules of the system, activating the soft fork. Everybody else, as seen above, essentially has only fixed costs (often fairly small) to support BIP-148. Miners are the exception. This has its own perils, however, as there may not be enough liquidity and bitcoins will have to be locked up with the exchange for the duration of the whole drama (much like Bitcoin Unlimited coins on Bitfinex today). In other words, more than 94 of the mining hash power (probably a lot more) are not supporting BIP-148.
And: The alternative discussed here is flag day activation where nodes begin enforcement at a predetermined time in the future. As noted by shaolinfry: Validation has always had a strong requirement. Whatever side youre on in this debate, this is a certainty: If you want to change Bitcoin, you have to pay the price. Again, this may be desirable even from uasf advocates since being able to spend coins from the other chain gives it liquidity.