If you still can’t figure out what the heck UASF is…User Activated Soft Fork(In this article I’ll refer sligthtly incorrectly to BIP148 as UASF, since crowd trumps terminology.)Some people asked me if I am shaolinfry, the creator of UASF.`I am not shaolinfry` is my previous article, where I detailed this story.I also stated there:In the end I don’t know if I support the concrete proposal or not.I read all proposals and I understand them, but I cannot figure out how the network would behave.I am just not smart enough to understand its implications.However I strongly support its intention.The Chicken GameThe implications of User Activated Soft Fork is finally clear for me, but I still don’t know if I support it or not.UASF is a chicken game, a Hawk-Dove game.You know when two car is rushing straight towards each other and the winner is the one that doesn’t turn the wheel.User Activated Soft ForkThere are a few paradox situations when illogical behaviour is the most logical behaviour.

For example if you get into this situation you want to drink a bottle a vodka in front of your opponent, sit in the car and throw out the wheel.The UASF Chicken GameIf UASF wins, Bitcoin will scale the best way.If it loses we can anticipate hundreds of dollars of transaction fees, based on the current trends fairly soon.When the cars crash, that’s chain split.In the event of a car crash we can only hope we are just as bad asses as the Fast and the Furious guys in the video.Or in other words: the industry is prepared, so we can smoothly sort out which chain will survive.It’s not really User Activated Soft Fork, rather User Activated, if the Exchanges Let Us Soft ForkOr if you wish UAotELUSF.Back to work: if the exchanges don’t prepare and don’t let us trade the newly minted coins on both sides of the split, we are going to have a bad time.That’s what the “industry is prepared” means.It’d also not be a bad idea if wallets and other companies prepare for the car crash and not let people lose money or get confused.Of course the crash can be avoided if by August one, more than 51% of miners choose UASF or the UASF crowd backs down before that day.

Or, if crash happens, it can be survived smoothly, if the industry is prepared.So where are we now?Are we rushing towards each other?Did the UASF crowd already thown out the wheel?Or we’re just drinking the vodka?186n7me3QKajQZJnUsVsezVhVrSwyFCCZShareMind Magician: This Master Memorizer Shares His Techniques A Master At Work: George Saunders Orders One Mousetrap Over The Phone Closure: Dad Revisits The Pavilion Where His Son Ate 2 Pinecones And Pretty Much Blew Any Shot He Had At Custody At Last: Man Shows His Pet Tarantula A Maraschino Cherry Inspiring!bitcoin plus mining poolThis Supercut Of People Deleting The Files That Would Ruin Their Lives Is Seriously Uplifting Progress: Watch A Man With Hair Enter The All-Bald Gazebo For The First Time Ever Horrifying: LEAKED Footage Of Doctor Rolling Around In The Mud Before Surgery Racists Will Hate This Video These 6 People Singing Different Everclear Songs Simultaneously Will Make You Feel Feels NSFW: This Sexy Vid Of A Guy Putting A Tampon Into A Condom Is Driving Everyone Wild If This Video Doesn’t Make You A Vegetarian, Nothing Will This Man Is Reunited With His Twin 30 Years After Being Separatedbitcoin billionaire time hack

Just two days after Gyft founder and Civic CEO Vinny Lingham’s warning about a Bitcoin hard fork devastating bitcoin’s value, 21 different Bitcoin exchanges have clarified their position on Bitcoin Unlimited (BU) trading.The exchange coalition stated in a hard fork contingency plan that they will trade any BU cryptocurrency as an altcoin alongside bitcoin, thwarting any plan for BU to replace Bitcoin.In software engineering, a fork happens when developers take a copy of source code from one software package and start independent development on it, creating a distinct and separate piece of software.bitcoin atm statisticsThe term often implies not merely a development branch, but also a split in the developer community.The development of Bitcoin Unlimited required forking Bitcoin's code.ethereum miner indiaOnce the fork is released, there will be two separate blockchains, even though they contain identical transaction histories.ethereum distributed exchange

The BU developers hope that BU will quickly acquire all of the miners that are currently mining the existing, 'Bitcoin Core' blockchain.If it were to do so, the latter would then be unable to secure its network, and therefore the original Bitcoin would quickly cease to be of value.If instead, only some of the current miners left to start mining BU's blockchain, two coins could exist side by side.bitcoin-cli create addressThis is what happened in June when Ethereum forked, resulting in two competing cryptocurrencies.This is also the fate that Lingham said Bitcoin must avoid at all cost.- Statement on Potential Bitcoin Hardfork EventThe first of three announcements on Friday was sent to the media as well as posted on the Bitfinex website.It contained signatures of some of the biggest exchanges by trading volume, including Bitfinex, Bitstamp, BTC China, Bitsquare, Bittrex, Coinfloor, itBit, Kraken, ShapeShift, Zaif, and nine others.The announcement states that the exchanges are collectively faced with addressing the very real possibility that a Bitcoin network split may occur in the future, and that bitcoin miners have a right to choose an alternative implementation of Bitcoin.

“We do this not out of judgement or philosophical reasons but rather for practical and operational considerations,” the group declared.“As exchanges, we have a responsibility to maintain orderly markets that trade continuously 24/7/365,” the announcement reads.“We cannot suspend operations and wait for a winner to emerge [...] Due to operational requirements alone we are compelled to label an incompatible fork as a new asset.”However, when a fork of this nature happens, there is a danger of coins from one blockchain being spent on the other coins' blockchain, known as a “replay attack.” The exchanges have agreed to not list BTU until this threat has been addressed.- Statement on Potential Bitcoin Hardfork EventA second announcement on Friday came from Poloniex, which has yet to decide if they will be listing BTU coins.The exchange reiterated many of the same points raise in the first announcement.“We will support Bitcoin Core continuously as BTC,” the exchange states, adding the same stipulation about replay attacks.

“Poloniex agrees that any contentious hard fork must include replay attack protection.Without this, exchanges cannot continuously and properly operate.”A few hours later, the co-founder and CTO of international Bitcoin exchange BitMex, Samuel Reed, issued the final statement of the day.“As proposed in the multi-exchange hard-fork contingency plan, there is significant doubt that a BU hard fork could be done safely without additional development work,” states Reed.“In the case of a fork, we support the plan as proposed by Bitfinex, Bitstamp, BTCC et al.”Reed further added that “it will not be possible for any exchange, including BitMEX, to support both chains separately.” The exchange will not even consider listing the coin until the replay attack protection is in place and BU is not “at risk of a blockchain reorganization if the Core chain becomes longer.”The news rattled traders, sending Bitcoin’s price dropping sharply throughout the day, from a high of $1160 to a low of $1052.