Tnx fr sharing

Thanks for the simple and clear explanation of what is supposedly happening to bitcoin that is unclear to most and still making many nervous about. I agree that segwit is probably good for bitcoin.

Thank you for summarising what is going on @exyle
So much is happening I can't even keep up
I hope Bitcoin doesn't fracture but the scary thing is, is how much power the miners have.
I hope everything is smooth going and nothing detremental happens.
Let's just buckle up and enjoy the ride

Out of left field, a third party has just announced they are HARD FORKING Bitcoin and immediately raising block size to 8MB on August 1st.
https://steemit.com/bitcoin/@belerophon/the-ante-has-been-raised-bitcoin-cash-announces-aug-1-hard-fork

nicely understood everything thanks for explaining in simple way :)

I fail to find a good source where I can see what the support for segwit2x is. Can you link me a good source?

Crazy month for crypto world

good read! thanks for the article!

Really good and understandable article! Thank you for writing it!

I am new in the crypto currencies' world and I really enjoy when someone put the effort to explain a tough topic in a simple way.. then you are sure, they understand what they are talking about!

Please keep writing these articles, they are really appreciated and helpful! :)

The block size for Bitcoin has been a problem for a while. It's not big enough (1MB) to fit in all the transactions that users want to make.

Therefore there is a huge backlog of transactions waiting for a block increasing the transaction times. Making the whole system slow.

(You can compare it to a train station where a train arrives every 10 minutes and has not enough wagons for all the passengers to get in. But new passengers are arriving all the time. Before you know it you have a line outside the station.)

I hope that everything will be right and miner accept in the market maybe will flat until november, But we need to wait and who have crypto don't sell, fear is what central bank are looking for @exyle

Thanks @exyle for sharing these details, this has cleared most of my doubts and learnt a lot. Steem On...

>I hope they checked the code.

It appears that you are trying to be funny and sarcastic.  But in this case... really?

You put it in your title, as well as the way you signed your message, so I'm trying to figure out if you are seriously concerned that they wrote the code and didn't check it.

....Do you believe someone just wrote the code, and no tests were done on it? No one looked at it?  They're blindfolded and just hoping it works?

I don't get the funny jab in this case.  

>My personal biggest fear

I'd like to hope and consider there is some pretty intelligent people working on Bitcoin's core at the moment.  

* I think they checked the code
* I think they are smart too

We will probably be fine.  I'd be surprised if we weren't.

I think we will up for a last minute surprise. Get ready for a final nose dive before starting to go up again.

Well constructed post. Thanks for your opinions.... I think at least one more test of 1,750 is coming before Aug. 1st.

Ye l think...

Hope everyone bought coins on the dips, prices are about to go ballistic

Thanks for the info and explaining it. So is this the reason for the extreme volatility in bitcoin over the weekend and do you think we could expect more leading up to Aug 1st?

Good write up and simple explanation of what this whole issue actually is.  My biggest concern is the rush to get this implemented before the code can be properly vetted.  The most important aspect of all this is that it works and to make sure there isn't any bugs.  This is what worries me the most.

Thanks for explaining this in simple words! It is still a bit much for me to completely wrap my head around, but I guess I don't need to understand it completely. We'll see how things go!

Good post !!
Just learn and few things from your post. 
Leave it at 1mb, it will be like a way for bitcoin to store value. 
Increase it will make bitcoin more quick and easy to expand for everyone 
Double whammy!!!
As long it is on everybody best interest, they should get it right. 
Crypto ain't stopping cause of segwit or bitcoin. 
Keep on steemit !!
*[@pouchon](https:/www.steemit.com/@pouchon)

http://i.imgur.com/BsI29Sr.jpg
[Source](https://www.shoutmeloud.com/bitcoin.html)

Great post for those new to crypto (me included).

Who on Steemit is HODL (holding on for dear life) a small (or large) Bitcoin stash?  Who is worried about what's happening to BTC?

You got an upvote (not worth much sorry) & resteem
Steem on beyond the moon, we know we can go further than that. Good luck to us all.

Let's hope everything goes smooth and BTC reaches new all time highs ;)
Thanks for this very good explanation of the current scaling debate :)
enjoy your day!

Good news!

I think they shud split it into btc and btu and be done with this. It will only be a short to medium term issue . Long term thats the best

You make really good simplified posts about these things. There's an argument to be made that crypto crowds the platform too much - though I'm not saying it's necessarily the case - but these are worth a resteem since there are a lot of non-crypto people on the site, and I'm sure they can benefit from these.

I especially liked the video you made explaining the ongoing BTC drama. It was the simplest way I'v seen anyone explain it.

"Upvoted and resteemed."

good time to be alive!

Bitcoin's soft fork also shows how strong the community of miners are. That can be a good or a bad thing in the future.Logically, I guess that miners will have to do more calculations and rounds of hashing to 'fill' up a block now.  So, that could increase the transaction fees of BTC. I don't know how accurate this is, just my theory.

I think everything will be fine.. reminds me of Y2k lol

26 Most Simple Life Changes You'll be Able to Make Today.
https://steemit.com/life/@swaticute/26-most-simple-life-changes-you-ll-be-able-to-make-today

Thanks for taking the time to share this information with us.

that line - 'i hope they checked the code' is a classic. if history is anything to go by we can expect this to be an ever changing, ever evolving, replacing eco system going forward, a lot of value will me made and lost i'm sure.

Thanks for making confusing subjects more understandable for ones like myself who has never done anything like this before.

Upvoted and RESTEEMED :)

Why do you guys upvote bullshit? The person didn't even deign to look into the affair.
"Segwit is the term used for a block size increase." Actually, it's misleading. It's called Bitcoin Unlimited that votes for a block size increase. SegWit proposes that only the transactions are stored within the block, while everything else is stored on the side-chain.