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August 1, 2017

[Megathread] On August 1, 2017 at 6:12pm UTC (block 478559), a new altcoin called Bcash (BCH) has been created using Bitcoin’s transaction history. Bitcoin itself continues to function normally.


[Megathread] On August 1, 2017 at 6:12pm UTC (block 478559), a new altcoin called Bcash (BCH) has been created using Bitcoin’s transaction history. Bitcoin itself continues to function normally.

What is happening?

In what has been touted as the culmination of a multi-year scaling debate, on August 1, 2017 at 6:12pm UTC (block 478559) a new altcoin was created from Bitcoin. The new altcoin is known as "Bcash" (BCH) or "Bitcoin Cash" (BCC) depending on which wallet/exchange you ask. In order to avoid confusion with actual Bitcoin and other altcoins, we recommend readers refer to the new altcoin as "Bcash" (BCH).

As with all altcoins, Bcash is technically off-topic for the /r/Bitcoin subreddit. However, Bcash was created based on Bitcoin's transaction history, and therefore all Bitcoin owners should be able to retrieve an equal amount of Bcash with some effort. Your Bitcoins are just as safe as they were before the chain split, but you should take care not to compromise your private keys if you wish to retrieve Bcash. This is not urgent unless you wish to trade immediately. If you choose to retrieve your Bcash, please be aware that consolidating your UTXOs will impact your privacy on both chains.

In order to help readers navigate this confusing situation and minimize disruption of relevant content, /r/Bitcoin has dedicated this sticky thread where readers can ask questions or leave comments pertaining to Bcash. If you are wondering how to retrieve your new altcoin holdings, please read the discussion thoroughly as your questions may already have been answered. If you don't see a similar question, please be sure to mention your wallet method and preferred exchange so that other readers can help address your concerns. You are also invited to submit new threads to the /r/Bcash subreddit if you so choose.

If you would like to understand the motives behind this new altcoin, please read The Future of “Bitcoin Cash:” An Interview with Bitcoin ABC lead developer Amaury Séchet.

But I thought we avoided a chain split?

For those of you who thought we avoided a chain split with the activation of BIP91 a couple weeks ago, here's a very loose summary of what happened on the Segwit (BIP141, BIP148, BIP91) front:

  1. Bitcoin Core team deployed Segwit (BIP141) last year
  2. Miners refused to activate Segwit via BIP9
  3. Users deployed UASF (BIP148 by shaolinfry) as an ultimatum set for August 1st
  4. Miners activated BIP91 (by James Hilliard) on July 20th to defuse UASF (BIP148) ultimatum
  5. BIP91 successfully defused UASF (BIP148) by enforcing Segwit (BIP141) signaling
  6. Segwit BIP141 is expected to lock in on Tuesday, August 8th
  7. Segwit BIP141 is expected to activate on Monday, August 21st
  8. Another altcoin like Bcash called "SegWit2x" (B2X) may be created in September

Despite all the progress we're making in scaling Bitcoin both on-chain and off-chain, the Bcash crew has decided to part ways with the Bitcoin project by creating a new altcoin. The key differences are that they are attempting to gut Segwit from their forked client, as well as increasing the deprecated max_block_size attribute to 8MB.

Various Announcements:

Electrum 1Electrum 2TrezorLedgerCoinbaseBreadwalletBitfinexAirbitzBlockchain.infoExodusJaxxKrakenBittrexGreyscaleYobitBitcoin CoreBitstamp – [Mycelium]() – [GreenAddress]() – BitcoinTalk(Reply in comments to add other services)

/r/Bitcoin wishes Bcash a happy farewell and the best of luck in their new venture!

Submitted August 02, 2017 at 07:21AM by BashCo
via reddit http://bit.ly/2hlCM9t

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Can you guys give me an estimate on what I could expect from my specs?


Can you guys give me an estimate on what I could expect from my specs?

With my CPU and GPU what could i expect from mining for a month:

CPU Intel i7 7700k @4.20 GHz

GPU EVGA gtx 1080.

Submitted August 02, 2017 at 06:56AM by honeynero
via reddit http://bit.ly/2u27A59

Bitcoin Baseball Hats for Sale


Bitcoin Baseball Hats for Sale
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Submitted August 02, 2017 at 07:04AM by legacysynthesis
via reddit http://bit.ly/2vgVnZZ

Can you guys give me an estimate on what I could expect from my specs?

With my CPU and GPU what could i expect from mining for a month:CPU Intel i7 7700k @4.20 GHzGPU EVGA gtx 1080. via /r/BitcoinMining http://bit.ly/2u27A59

Happy New Year!!!


Happy New Year!!!
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Submitted August 01, 2017 at 08:20PM by Withyourfeetintheair
via reddit http://bit.ly/2f56eQy

If you invested $100 in 2011 you would have made $930k


If you invested $100 in 2011 you would have made $930k
http://bit.ly/2vjnIyr

Submitted August 01, 2017 at 02:36PM by nomadicsurfer
via reddit http://bit.ly/2tVnOIZ

Bitcoin Splits, but Clone Off to Slow Start by REUTERS


By REUTERS

Bitcoin’s underlying software code was split on Tuesday, generating a new clone called “Bitcoin Cash,” but the new virtual currency got off to a slow start due to lackluster support for its network….

Published: August 2, 2017 at 06:54AM

from NYT Business Day http://nyti.ms/2ui0hBy
via IFTTT

You can’t make this stuff up…


You can’t make this stuff up…

The forking blocks at height 478559 have hashes with either "EC" or "148" at the end.

{ "height" : 478559, "hash" : "000000000000000000651ef99cb9fcbe0dadde1d424bd9f15ff20136191a5eec", }, { "height" : 478559, "hash" : "00000000000000000019f112ec0a9982926f1258cdcc558dd7c3b7e5dc7fa148", }, 

Submitted August 02, 2017 at 04:03AM by zoni_het
via reddit http://bit.ly/2u1UFQM

How I feel checking http://bit.ly/2uRH1yc right now.


How I feel checking http://bit.ly/2uRH1yc right now.
http://bit.ly/2w2Ab7D

Submitted August 01, 2017 at 09:19PM by Bakton
via reddit http://bit.ly/2uS7jRa

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