In this video, I try to explain why the hard fork is happening. What the best outcome is and the worst.
It's hard explaining things without using terms that I'm so familiar with but others are not. Block, block size, block time, the blockchain, confirmations, to name a few.
I tried to keep it as simple as I could.
Note: @ 1:55.... I say chains, chains. But I mean Blocks, blocks.
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Thanks @exyle , I've been watching your YouTube videos for a while now, haven't followed you until today though. You're one of the level headed ones on here though. That means Bianca has to be the more extroverted one! Lol! Anyway, thanks for the information. I'm sure we'll be able to ride this out.
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Nice explanation! Do you know what percentage the miners have to support segwit in order to avoid the two coin scenario?
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Honestly, bro, one of the best explanations of how the "blockchain" works. You got a ready made career in teaching whenever you want it, lol!
Yes, August 1st will be very interesting. The simple fact of the matter is we cannot guess what will happen. There are too many individual components making up the whole picture. But even if it splits, I still see it as a temporary stumbling block for BTC and crypto in general. These things have a way of ironing themselves out in the end. But without a doubt, very interesting times ahead.
Your post's are something I find myself looking forward to everyday now as I consider you one of the best vlogger's this platform has to offer. Excellent job, my bro. Here's to much more from you in the near future. :)
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lol must have gotten it from my mom. She used to be a history teacher. I think it will sort itself out as well, but man it will be a bumpy ride.
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This is the most concise and simplest explanation I have heard detailing not only how BTC works, but what all the fuss is about concerning the segwit2x agreement. Everyone should see this. Great job and Re-Steemed!
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thanks, man!
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Market going down is time to buy... Although I do not like problems in Bitcoin.
Dash is superior to Bitcoin in many ways. Look into it.
Thanks for the heads up.
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That was a good explanation, I am trying to gear up for August. Things could go really good or bad like LTC Segwit (price wise)
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Congratulations! This post has been upvoted from the communal account, @minnowsupport, by Sqamemal from the Minnow Support Project. It's a witness project run by aggroed, ausbitbank, teamsteem, theprophet0, and someguy123. The goal is to help Steemit grow by supporting Minnows and creating a social network. Please find us in the Peace, Abundance, and Liberty Network (PALnet) Discord Channel. It's a completely public and open space to all members of the Steemit community who voluntarily choose to be there.
If you like what we're doing please upvote this comment so we can continue to build the community account that's supporting all members.
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Good description. It's a shame more people who say they understand bitcoin don't have a clue about the potential fork or the possible implications.
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Thanks @exyle for sharing details of BTC HF...was very helpful, learnt a lot.
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You make my feed so nice, thank you for that. Really appreciate the hard work you do. I recently subscribed to your youtube. Well look forward to hanging with you in your future post. Great explantation btw of blocks and chains and the forking up of things :)
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Thanks man! I basically use youtube to post video's on here :). I waiting for SteemQ (decentralised youtube on Steem blockchain).
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SteemQ?! Now I'm Excited! The future is bright. I defiantly want to take part in that.
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This is the simplest explanation available over the internet about the Bitcoin and how it works. The way you explained is just marvelous. Although, I believe Segwit will be implemented in Bitcoin for sure and majority of people are in favor of this decision. Hope everything comes to good terms.
Thanks for this vlog by the way @exyle You're the best.
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Great video, I love how well you explained the upcoming hard fork for bitcoin. You made it seem so simple and easy to understand.
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Thank you - this helped a bit - I am still totally confused with the whole steem and blockchains and bitcoins, but you explained it very nicely - I am going to give this link to my kids in class who are interested in it
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Wow, that is cool! I'm glad it was useful.
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With 86% miners supporting the Segwit fork, it seems like we're due for a "Bitcoin / Bitcoin Classic" scenario, right? We already saw this movie with Ethereum, and it worked out.
If anything, with ETH, it's better than before - now we have the faster, more "Start-up / move fast and break things" style Ethereum chain, and the more conservative / principled ETC which guarantees that the past will not be adjusted.
The short term tumult makes sense, nobody can be sure that works out... but surely the 86% adoption Bitcoin will be accepted, not the 14% one... right?
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You would think they would go for it yes, but this is crypto, after ETH, ETC (which I didn't see coming at all) anything can happen.
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A very good explanation dude. I kinda knew the details but it's good to get confirmation of this. I hope that the fork is successful and the market picks up like crazy... For all of our sakes!! :0)
So you can see quite well without your glasses. Did you know you weren't in the house?
;0D
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Thanks man! Lol, I also hope it will be smooth. Lol that was that not my house? Then where did I take a dump this morning? :O
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Oh noes!!!! hehehe!
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really appreciate this post. there's so much confusion and speculation out there right now. great post! :)
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Hey @exyle !
You're getting all these rewards and yet YOU CANT AFFORD A BETTER CAMERA!
240p dude? What is this, year 2000?
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Good post, thanks for the info! I think this hard fork will work out fine.
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That is really a nice way to explain it, Hope the best thing will happen on August 1 for the future of Bitcoin and Cryptocurrency.
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Good explanation straight to the point and clear. This will surely remove all doubts in newbies mine and give them more confidence to invest in the cryptocurrency market.
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Thanks for the clear explanation, I just looked at the crypto currencies prices and was shocked. A google search didn't help me understand, thanks mate!
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Thank you! first explanation of the hardfork which is understandable for a newbie in crypto like me. Let's drop the fear and trust then, what else can we do :)
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In chaos comes opportunity. I am trying to measure the percentages between bitcoin and steem. Since I want to buy steem, I first must buy bitcoin (I think). my fiat cash is short, so for today, I wait.
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Great explanation thank you. This is the time to get greedy. Hold cash until July 31s and buy up everything for cheap. This is literally a chance to become rich over night.
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That was an easy to understand hard fork explanation. Keeping my fingers crossed for the 1st of August date. Thank you for sharing :)
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That was much need thank you @exyle helpful for me.
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@exyle thank you for that simplified answer. I was wondering why the prices were acting as they do recently and I guess that is the reason.
Good work. Thank you a lot.
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Goede duidelijke uitleg, upvoted en een nieuwe volger erbij. Succes!
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Great explanation, here's hoping for a smooth transition for all of us!
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Thanks for explanation let hope for the best 1 august this could be the best way to explain bitcoin hard fork .
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thanks @exyle!!
for this post. its really helpful.........i really like it.
upvoted and folowed you.
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follow me
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please follow me i will also follow you
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nice and thank you so much
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Thanks for this info. I have a better idea now. Thanks for sharing
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Thank you for sharing your views. I am very new to crypto but you explained it in very terms. I hope that the fork goes well for all.
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Thank you for the excellent explanation. I am new to crypto and you have explained the implications of the fork clearly.
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Excellent explanation. Thanks.
The one question that I keep asking is
what are the safest wallets to have your bitcoins in during this transition.
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I think I will stick with lite coin and steem till this all play's out.I'm thinking poeple will do the same as the see lite coin as more stable
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I like your perspective on things. This is what I was wondering about yesterday; that if Bitcoin dropped in value would one be better converting to another Cryptocurrency. But as you say, if Bitcoin goes down it could easily take everything else with it. Perhaps the best solution is converting Bitcoin to gold. I've decided I really do not have that much Bitcoin to be concerned about so I'm letting it ride for now, but keeping a close eye on the markets. Hopefully Bitcoin Armaggedon will play out as the Y2K bug did...no big deal. But who knows for sure??? :-)
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Relax, i'm tense as hell too. But it won't help the situation.
Calm your mind man. Don't make irrational desicions.
You will be fine. Crypto is the future.
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