31 May '17, 6pm

via @BitcoinMagazine

This is a re-write of A Bitcoin Beginner’s Guide to Surviving a Coin-Split , specifically addressing issues associated with the upcoming BIP 148 UASF. There is a chance Bitcoin will experience a chain-split on August 1st. A segment of all Bitcoin users is committed to activate a user activated soft fork (UASF) as described in Bitcoin Improvement Proposal 148 (BIP 148). Specifically, they will reject any Bitcoin blocks that do not signal support for Segregated Witness (SegWit), the centerpiece of Bitcoin Core ’s scaling roadmap . If a majority of miners (by hash power) does not signal support for SegWit on August 1st, but at least some do, Bitcoin’s blockchain will split in two. In that case, there would be two types of Bitcoin tokens, which we’ll refer to in this article as “148 BTC” for coins on the soft forked chain, and “Legacy BTC” for coins on the chain that did not a...

Full article: https://bitcoinmagazine.com/articles/bitcoin-beginners-gu...

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