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BitBrum • November 19, 2017

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Tag: scaling bitcoin

SegWit Lock-In: What Does it Mean for Bitcoin?

Category: Bitcoin, Blockchain, News

SegWit Lock-In: What Does it Mean for Bitcoin?

On August 9, the highly-anticipated Segregated Witness (SegWit) protocol upgrade to the Bitcoin blockchain was officially locked in on block 479,707. While there is still a two-week waiting period before SegWit will be fully activated, the lock-in means that all bitcoin mining operations have to implement this update now or else they will have to give up their bitcoin mining…

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“Very simple. Very easy. Good.”

Category: Bitcoin, Commentary, News

“Very simple. Very easy. Good.”

At the Future of Bitcoin, the alleged Satoshi Craig Wright held a furious talk, which was interrupted by emergent eruptions of applause. What a show in Arnhem! In the conference room in Arnhem’s WTC few people really believe that Craig Wright is Satoshi. However, the man is an enigma. There might be a tiny chance, that he really is Satoshi,…

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Understanding Block Weight: How much Capacity does SegWit really Give?

Category: Bitcoin, Blockchain, News

Understanding Block Weight: How much Capacity does SegWit really Give?

With SegWit2x we’ll soon experience the activation of SegWit. Block size will be replaced by block weight, transactions capacity will be increased, and fees will fall. But how exactly and to what scope is not an easy question. In recent weeks the public argument shifted from the question, if SegWit should be activated, to the question of how and when…

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SegWit2x Alpha is Out: More than 75 percent of Blocks Signal Support

Category: Bitcoin, Blockchain, News, Tech

SegWit2x Alpha is Out: More than 75 percent of Blocks Signal Support

On June 16, Jeff Garzik announced the Alpha release of SegWit2x. After all, miners who have signed the agreement started to signal for its activation, SegWit2x is nearly instantly backed by more than 75 percent of the hash rate. The activation of SegWit, it seems, is safe – while the hard fork, which is part of the packet, is not….

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Bitmain Draws Up Anti-USAF Plans: BTCManager’s Week in Review June 19

Category: News, News Digest

Bitmain Draws Up Anti-USAF Plans: BTCManager’s Week in Review June 19

The price of bitcoin took a dive during the week beginning June 12 from its all-time high at $2,997 to its June low at $2,212 after Chinese mining hardware producer Bitmain announced its “contingency plan” against the proposed BIP148 UASF (User-Activated Soft Fork) on August 1, which contains a new hard fork that has been coined UAHF (User-Activated Hard Fork)….

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UASF: The Revolt that Will Not Happen

Category: Bitcoin, Blockchain, Commentary, News

UASF: The Revolt that Will Not Happen

The User-Activated Soft Fork (UASF) wants to enforce SegWit against the will of the miners. After the movement had gained a growing momentum, it had to gulp serious drawbacks in the past weeks. Neither exchanges, miners nor Core developers stand behind it. Is this the end of the self-declared user’s revolt? Basically, the whole UASF story is about the question…

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#UASF: Power to the Users?

Category: Bitcoin, Blockchain, Commentary

#UASF: Power to the Users?

When the miners display inertia, the users do it by themselves; the movement for BIP148, the user-activated soft fork, is gaining momentum. On August 1 the soft fork will activate. We explain what is behind the keyword #UASF. Suddenly things can happen quickly. Front and center in the Bitcoin community these days you see the promotion of #UASF, the User-Activated…

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Number of Unconfirmed Transactions Reaches All Time High: Heated Community Discusses Solutions

Category: Bitcoin, Blockchain, Commentary, News

Number of Unconfirmed Transactions Reaches All Time High: Heated Community Discusses Solutions

Never before has the Bitcoin Blockchain seen such a large traffic jam. The number of unconfirmed transactions reached a level, at which it hurts. The Bitcoin economy is not amused; BitPay’s Stephen Pair speaks out with exceptional clarity, while Barry Silbert of the Digital Currency Group tries to establish a broad alliance for a new compromise. At least there is…

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Litecoin Breathes Life into Segregated Witness

Category: Altcoins, Blockchain, News, Tech

Litecoin Breathes Life into Segregated Witness

After a month-long deliberation, the Litecoin community came to a consensus to activate Segregated Witness on Litecoin. On May 10, Litecoin creator and Coinbase Director of Engineering Charlie Lee celebrated the implementation of SegWit on his social media; litecoin will serve as an experimental testbed for bitcoin and may go some way toward a progression in the scaling debate. Almost…

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Upward Momentum in Bitcoin Price Intensifies on Litecoin’s Role as SegWit Testbed

Category: Altcoins, Bitcoin, Commentary, News

Upward Momentum in Bitcoin Price Intensifies on Litecoin’s Role as SegWit Testbed

Over the past month, the price of bitcoin has consistently maintained its upward trend and momentum, increasing from around $1,185 to $1,624 as litecoin moves to implement SegWit. In the past seven days, bitcoin price recorded a 15 percent weekly gain, breaking the $1700 barrier on May 9 for the very first time. The short and mid-term surge of the…

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