An early solution to Bitcoins scaling debate

in bitcoin •  8 years ago 

Hey Steemitians


What a pleasant surprise to wake up and see bitcoin over 2300! 


I wrote an article yesterday, explaining that the recent rise in bitcoin is most likely due to the scaling debate leaning towards BIP91. This has now been confirmed, miners are currently signalling almost 80% support for BIP91 and that is all it needs to lock in. This would mean that there would be no hardfork or split from segwit activation. I would also like to note that miners were not expected to start signalling support for BIP91 until July 21 which comes as a surprise to me.


OKcoin has recently stated that it will halt trading during the lock in period as it appears less likely there will be a hardfork. Below are a couple articles with more details about miners supporting BIP91.

http://www.cnbc.com/2017/07/18/bitcoin-soars-as-miners-move-to-solve-the-digital-currency-scaling-problem.html


https://cointelegraph.com/news/suddenly-bitcoin-hard-fork-looks-unlikely-as-chinese-exchange-readies-for-segwit
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This post received a 3.8% upvote from @randowhale thanks to @cyberblock! For more information, click here!

it's exactly what I'm reading on all the channels today. Also market seems to agree. Looks like it's going to be another feverish take off.

People always wish for a nice big correction to buy but when it happens they panic sell on the bottom lol they always do the opposite of what they should do.

great post. Ya I tend to agree with you that a possible solution and lean toward bip91 is imminent. Thanks for the post. upvoted and followed. Feel free to follow back. Cheers

Thanks for your comment ;)

Incrideble

This post has received a 4.91 % upvote from @booster thanks to: @cyberblock.

It looks like there is less blood on the streets now that an imminent hard fork will be avoided. That does not indicate however how the scaling debate will be solved. Unless I a missing something of course.