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Bitcoin Hard Fork: The Game Plan

November 5, 2017

Bitcoin’s upcoming fork is arguably its most divisive one yet. Clear battle lines have been drawn, setting the stage for a potentially Lutheran-style schism in the blockchain community. (Note: the author is being a bit dramatic, but all signs seem to show that a serious divergence is building momentum.)

By looking at bitcoin’s price, one would hardly conclude that the original blockchain currency is facing turmoil. Bitcoin added a staggering 24% last week en route to fresh record highs. However, one of the motivations for buying bitcoin is the hard fork itself. If you own bitcoin on fork day, you will also receive equal value of the newly minted digital currency. (If your cryptocurrency exchange doesn’t support the new coin, you can always threaten to sue it like the backers of Bitcoin Cash did to Coinbase.)

The upcoming hard fork, which is scheduled sometime in mid-November, will create two competing versions of bitcoin. We speculated recently that the new coin is unlikely to create controversy over the “real” bitcoin, but as Jeff John Roberts of Fortune argues, this disagreement is already under way.

Like the hard forks before it, the main crux of the debate is how to best optimize the Bitcoin network. Backers of SegWit2x want to double the size of bitcoin blocks to boost transaction capability.

Backers of the new protocol include bitcoin miners who use advanced computers to compile transactions. In their view, bigger blocks are desperately needed to accommodate the massive growth in the blockchain network, as well as to reduce transaction fees. As Roberts also notes, these miners are part of a consortia that includes “certain exchanges, wallet providers, market makers, and storage vaults.” On the opposite side of the spectrum are those who maintain the core protocol that comprises the Bitcoin network.

Below is a rundown of interplay between bitcoin, Bitcoin Cash and the upcoming SegWit2X hard fork.

The Game Plan

As one might expect, the broader implications of SegWit2x likely won’t be known until fork day. But that shouldn’t stop you from formulating a game plan. The big question mark right now is which version of bitcoin will get the much coveted BTC ticker name. As it currently stands, exchanges have not opined about which version of bitcoin they will support, although Bitfinex will run the SegWit2x chain as B2X.

On the GDAX, hash power will decide which chain gets the BTC ticker. So far, there is no news on what Bitstamp, bitFlyer and Kraken aim to do.

Rather than track a couple dozen bitcoin exchanges, investors may want to focus on Coinbase. The San Francisco-based platform has long been viewed as the industry’s proxy; how it chooses to handle the fork (and potential split) will have direct implications on the market.

A hard fork is a software change that runs the risk of splitting the blockchain into two, particularly if the community disagrees about it. (Laura Shin, Forbes)

When it comes time to fork, market participants need to be clear about their intentions. The first question you need to ask is: Do I plan on transacting with the various bitcoin chains anytime soon, or am I keen on holding the coins as long-term investments? If you prefer the latter, then you should be thinking about storing your coins in a wallet. (Note: paper and hardware wallets offer more security.)

Those of us who are speculating in bitcoin need to be aware that the upcoming fork could get very messy. It is unclear which chain the exchanges will list as BTC, which means the price of BTC could differ vastly across the brokerage community. (Note: if you observe vastly different prices for BTC, it means you’re looking at two different coins.)

Adding more confusion is the fact that the SegWit2x protocol will fork without adequate replay protection. This means BTC and B2X transactions will appear identical after the fork. To avoid accidentally spending the new coins, you should avoid exchanging from your wallet all together after the fork. This also includes not accepting payments via mobile wallets, since BTC will mirror whichever coin has more hash power.

Furthermore, claiming your coins will prove difficult until well after the fork when dedicated wallets for both blockchains emerge.

If you’re a trader, there’s even more confusion about whether BTC and B2X will have any price correlation. Following the Bitcoin Cash hard fork, BTH and BTC appeared to be inversely correlated for a while. However, lately, anything named bitcoin has moved in the same direction: Up.

The conclusions that we’ve drawn in this section may annoy some of our members, but complex situations usually call for measured steps. In this case, staying on the sidelines until the dust settles might be the best approach.

Altcoin Advantage?

Altcoins have largely benefited from bitcoin’s meteoric rise – that is, until recently. The latest surge in bitcoin has largely failed to take altcoins along for the ride. This has led to speculation that the altcoin universe is undervalued. An exit from the bitcoin asset class could therefore be a tailwind for altcoins pre- and post-fork.

Currently, the original bitcoin controls roughly 63% of the cryptocurrency market. This figure fell below half earlier in the year as investors diversified away from bitcoin while others became more annoyed by bitcoin’s slow transaction process. If diversification is part of your strategy, now might be the top to consider altcoins. The author sees no reason why the altcoin universe cannot control at least half of the cryptocurrency market, especially if we witness a long-anticipated correction in BTC.

Total Cryptocurrency Market Cap With Bitcoin

Total Cryptocurrency Market Cap Without Bitcoin

Final Considerations

There’s no guarantee that bitcoin prices will plunge after the hard fork. Regardless of which blockchain emerges as the BTC candidate, bitcoin is enjoying plenty of upside thanks to growing institutional support from the major exchanges. Both CME Group and CBOE have announced plans for bitcoin futures relatively shortly. a strong sign that institutional capital will flow like never before.

1. Secure your coins in a paper or hard wallet for extra safety.
2. Avoid transacting the BTC symbol before and after fork day.
3. After fork day, access your coins only when you see dedicated wallets for both blockchains.
4. Take advantage of the undervalued altcoin universe if bitcoin becomes volatile.

As fork day looms, keep your wits (and coins) about you and stay out of trouble.

Featured image courtesy of Shutterstock.

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How to Prepare for a Bitcoin Hard Fork

Worried about being stuck on the wrong side of a potential Bitcoin hard fork? Bitcoinist explores what regular users and holders should expect.

Bitcoin at a Crossroads?

Although the scaling debate has been going on for years, never has it been so urgent as it is now. As speculators continue to push the price to new heights and new users enter Bitcoin, the network is reaching full capacity.

The two major scaling proposals, SegWit and Bitcoin Unlimited (BU), are currently vying for Bitcoin users’ hearts and minds. At the same time, many are wondering what will happen to their holdings in case of a Bitcoin hard fork.

By definition, a hard fork is “a permanent divergence in the blockchain, [which] commonly occurs when non-upgraded nodes can’t validate blocks created by upgraded nodes that follow newer consensus rules,” such as that of Bitcoin Unlimited.

Bitcoin has forked in the past due to an error that allowed one user to mine a disproportionate amount of coins. However, this would be the first time that Bitcoin would go through a hard fork with supporters on both chains, a moment that could create two coins.

This is due to the major philosophical split in the Bitcoin community related to the notion of what Bitcoin is and should be. Bitcoin Core, which is responsible for over 95% of code development to date, believes Bitcoin is akin to ‘digital gold,’ whose main strengths are “security, irreversibility, and political-independence, instead of speed or fees,” as described by Core developer, Luke Jr.

The other believes in the all-inclusive “everyday cup of coffee” idea that Bitcoin should scale via bigger blocks and used as peer-to-peer “digital cash” for small and big transactions alike.

Lessons from Ethereum

Last year, we got to see a first-hand example of what could happen in the case of a hard fork that has users, miners, and companies on both sides of the fence. Ethereum hard forked into two different blockchains, Ethereum and Ethereum Classic, in a bid to return the siphoned funds from TheDAO back to investors.

Ethereum Classic is the original blockchain, the one that kept the original rules before the hard fork, and whose adherence to the immutability (i.e. irreversibility) aspect attracted supporters as a result. What is now called “Ethereum” is the blockchain, in which the the stolen funds were restored back to the DAO investors.

Following the split, exchanges reacted by adding Ethereum Classic as another altcoin pair due to support for the original chain. Meanwhile users who held ETH funds on said exchanges also received the equivalent amount in ETC coins, which has managed to find its own niche in the crypto space since.

In retrospect, the chain-splitting was arguably a blessing in disguise as both camps got what they wanted while Ethereum price has recently surpassed its pre-fork highs.

Will the Real Bitcoin Please Stand Up

The Bitcoin scenario would not differ greatly from what was seen in Ethereum. With supporters on both blockchains, it is likely that both would be kept alive, making the schism in the Bitcoin community official.

Bitcoin holders would get to keep coins on both sides of the fork. Users will be free to keep both coins, which can be seen as the “safe play,” and trade accordingly as the two chains vie for users, hashrate, and trading volume.

Bitcoin expert Andreas Antonopoulos explains:

Users: If you hold bitcoin and there is a HF, you will now own bitcoin on both forks. You don't need to do anything.

Miners, however, are required to either choose a side or to split their hashing power on both blockchains. But which chain will be worthy of the “Bitcoin” name is being debated.

Former BTCC COO Samson Mow notes that in the event of such a split, Bitcoin Unlimited would be seen as the “new altcoin” by major exchanges.

So far I've heard Coinbase/GDAX & Bitfinex state that in the event of a chain fork, the BU chain will be listed as a new altcoin. $BTU $XBU

— Samson Mow (@Excellion) March 9, 2017

This was corroborated by Director of Engineering at Coinbase, Charlie Lee, who said the Bitcoin Unlimited would indeed be listed as an altcoin under the likely BTU ticker. It’s also likely that if exchanges list Bitcoin Unlimited as BTU, users would be compelled to follow suit.

Meanwhile, BU supporters claim that the longest blockchain (i.e. one with more hashing power) must be referred to as the original “Bitcoin.” But Lee disagrees saying that “w hen 2 chains are following different consensus rules, [the] longest chain does not matter at all.”

See for example the ETH/ETC hardfork. Different consensus rules. No one cares which chain is longest (i.e. more work). Users decide which they want to call Ethereum.

Preparing for a Hard Fork

Although it’s hard to tell exactly which Bitcoin services will support Core, BU or both, users can expect their coins to be available on both chains.

Keeping your bits on your own personal wallet, in which you control the private keys, is advised, as this would ensure that your coins are credited on both blockchains.

One could then access the BU coins via the Bitcoin Unlimited client and the original chain’s coins via any wallet that supports Bitcoin Core. Keeping coins on an exchange is not recommended.

“Coins on an exchange are not yours. That’s true regardless of any possibility of a fork,” Antonopoulos notes.

However, if you do store your coins on an exchange, the most likely event would be the exchange will credit your coins on both chains, though it’s a decision that will be left entirely up to the exchange operators.

To play it safe, keeping your bits on your wallet and keeping your funds in cold storage/offline is highly recommended.

Civic CEO Vinny Lingham shared the following advice to all Bitcoin users:

I recommend to people in Bitcoin to have two pots. One is your long term BTC holdings, cold storage. Never sell those. Trade the other pot.

— Vinny Lingham (@VinnyLingham) March 13, 2017

Could both “Bitcoins” co-exist? Or will one eventually take over the other one? Share your thoughts below!

Anticipation of Bitcoin Cash Hard Fork Lifts Price Back Near $1,000

Anticipation of Bitcoin Cash Hard Fork Lifts Price Back Near $1,000

Bitcoin Cash is already seeing a price bump as the next hard fork approaches in less than a month. Faster transactions and new operation codes coming.

Hard Fork will Make Bitcoin Cash Faster

As the granddaddy of all cryptocurrency Bitcoin was a revolutionary idea built on groundbreaking technology, devised by an unknown, or group of unknown geniuses. But as all things pass even the shine on Bitcoin wore off as it became a medium for investment and crypto traders found it’s transaction speeds too slow and costly.

This lead to a series of hard forks off the Bitcoin blockchain resulting in tokens like Bitcoin Gold, Bitcoin Atom, Bitcoin Private et al. Of which Bitcoin Cash is by far and away the most successful.

Bitcoin Cash is the result of a hard fork that occurred in August 2017 which has met investors expectations even through the market difficulties of this year as it came back near $1000 yesterday with the next hard fork looming less than a month away

Bitcoin cash was created to meet the demands of cryptocurrency traders which meant increasing transaction speeds. Thus the block size was increased from 1 to 8 MB bringing transaction speeds down from days to minutes. Bigger blocksize will be the major upgrade in the May 15 fork as it is increased again to 32MB.

The upcoming fork will also add or reactivate several operation codes, this according to James Song, founder, and CEO of blockchain startup ExsulCoin, will allow simple smart contracts to be enacted on Bitcoin Cash. Song was quoted in Forbes as saying

“This particular bit of news is what is driving market excitement around bitcoin cash.”

Bitcoin Cash saw gains of over 9% in the past 24 hours and has risen more than 60% since it bottomed out on April 6 at a low of 603.71 according to coinmarketcap.

Hard Fork Should Push Bitcoin Cash Value up

Bitcoin generally acts as the bellwether for the cryptocurrency market which follows its highs and lows but when Bitcoin Cash was created few knew what the value of it would be. It gained almost instant value due to some artificial factors due to difficulties in trading for those holding it in online wallets, fluctuated through the autumn and then followed in the wake of its namesake’s meteoric ride when it peaked at $4,322 on December 21.

It has crashed since then as all cryptocurrency has in the market correction of 2018 but still has proven to be resilient as many see it as a versatile alternative to Bitcoin that can be used to store wealth and as a functioning currency. Bitcoin cash proved that improving liquidity and accessibility of a stalworth token is effective so as the next hard fork approaches the expectation is to see it’s value to continue to rise.

Oh Yes ! Bitcoin Diamond Fork Is Coming [Another BTC Hard Fork]

This is my fourth Bitcoin hard fork post in just a span of 4 months.

So I will just get straight to the point because I think by now we all have become very used to, to such forks, because one hard fork is happening again.

But still, for the uninitiated I am sharing few links below that will help you in your learning curve just in case if you don’t know about forks.

Now coming straight to the hard fork drama so that we can address some of the basic questions that usually arise when a fork is done.

So I will cover these following important points in this write-up.

• What is this fork called and when is it happening?
• Why is this fork happening and who is doing it?
• How will Bitcoin Diamond solve these problems?
• Total supply of coins and their economics
• Who’s supporting this fork?
• Do you need to worry?
• What do you need to do to benefit from it?
• My final thoughts on the fork

1. What is this fork called and when is it happening?

This brand new Bitcoin hard fork is called Bitcoin Diamond and is dubbed as BCD.

This new Bitcoin hard fork is happening tomorrow sometime i.e. (24th November 2017) at block height 495866 according to their official website.

It is a friendly fork meaning that it is not being done to compete with original Bitcoin but it is being done for reasons that I will explain further in this post.

Their official definition and explanation of Bitcoin Diamond:-

Bitcoin Diamond (BCD) is a fork of Bitcoin that occurs at the predetermined height of block 495866 and therewith a new chain will be generated as the BCD. Bitcoin Diamond miners will begin creating blocks with a new proof-of-work algorithm, and will consecutively develop and enhance the protection for account transfer and privacy based on original features of BTC. This will cause a bifurcation of the Bitcoin blockchain. The original Bitcoin blockchain will continue unaltered, but a new branch of the blockchain will split off from the original chain. It shares the same transaction history with Bitcoin until it starts branching and coming into a unique block from which it diverges. As a result of this process, a new cryptocurrency was created which we call “Bitcoin Diamond”.

2. Why is this fork happening and who is doing it?

As per their official website, this fork is done by two team members who have pseudonyms. They are known as EVEY and 007 who are reportedly miners according to newsbtc.com

They are forking Bitcoin because they don’t see the actual Bitcoin scaling and serving the needs of growing users.

Namely, they have stated because of following problems they are forking BTC into Bitcoin Diamond.

• Lack of privacy protection in BTC
• Slow transaction confirmations in BTC transactions.
• High threshold for new members.

So they have decided to change all this by making a better version of Bitcoin, with better features.

3. How will Bitcoin Diamond solve these problems?

Bitcoin Diamond will solve these problems by doing following things:-

• It will provide privacy protection by encryption.
• It will provide fast transaction confirmations by increasing the block size to 8 MB.
• It will lower the cost of participation threshold by increasing the total supply of coins.

4. Total supply of coins and their economics

The total amount of BCD will be 210 million i.e ten times more than the actual BTC. They have said that they will not increase the supply more than this.

Out of this total supply 170 million BCD, will be presented/air-dropped/entitled to the Bitcoin holders for the long-term Bitcoin support in1BTC: 10BCD ratio.

The rest 40 million will be automatically transferred into the community rewards pool as tributes and mining.

5. Who’s supporting this fork?

This part is a quite questionable one because there is not much clarity about it yet and also Bitcoin Diamond has listed quite a few wallets and exchanges supporting them with this note which reads:-

Disclaimer: the Bitcoin Diamond Organization (btcd.io) cannot take responsibility for third-party providers, such as the listed exchanges, wallets, sites, and pools. All links hosted on our domain are by community members and third parties and by clicking on any of the listed links you are accepting the risks of using the third party domain and taking responsibility for any losses, damage or other issues using the said domain. Crypto-currencies are inherently risky and investors and users must remain vigilant.

But still, I will list those exchanges and wallet services here as well as keep updating this section as and when I keep getting more concrete information on them.

BUY/SELL Bitcoin Diamond Exchanges Here

• Binance-Supported pairs BCD/BTC, BCD/ETH
• Yobit-Supported pairs BCD/BTC, BCD/ETH, BCD/RUR, BCD/USD
• Gate.io

There are some more exchanges but we really don’t trust them so as of now you can trade Bitcoin Diamond futures here until the late December when the main net launches.

In late December 2017, Mainnet and wallet will be published, code open source in @github and would be mineable, stay tuned for more updates. pic.twitter.com/gUILGpcQqh

— Bitcoin Diamond (@BitcoinDiamond_) November 29, 2017

Note: We don’t recommend you to use the above-listed wallets because we don’t trust BCD yet and have not reviewed these wallets. Also, Ledger doesn’t support BCD as of now.

6. Do you need to worry?

Not really, why does anybody actually need to worry because they are just an altcoin!

Moreover, you will be getting BCD in 1 BTC: 10 BCD ratio which is a free money and free money is always good.

Also, they have stated on their official website that they have made changes in BCD trading format that will prevent replay attacks.

So if I just go by what the BCD people are saying then we should not worry because replay protection is there.

7. What do you need to do to benefit from it?

Now the million dollar question what do you need to do to claim your free BCD and enjoy this benefit. (We will publish how to claim your BCD as soon as the fork happens)

But for now we suggest you take care of the following things for maximum security and benefit during this fork:

1. Avoid transactions for some days till the dust settles to avoid replay attacks because we really don’t know yet how good is their replay protection.
2. Keep your Bitcoin private keys with you, not on a third party exchange like Coinbase.
3. Use hardware wallets like the Ledger Nano S and Trezor. Last time, during the Bitcoin Cash & Bitcoin Gold fork, these two hardware wallets were the first to support the forked coin.
4. If you don’t have a hardware wallet, use software wallets like Mycelium, Jaxx, Coinomi, and Exodus to control your private keys.
5. You can also use a paper wallet or brain wallet.
6. If you hold your keys in a paper wallet or software wallet, wait for instructions on how to access your BCD coins.
7. .You can keep your BTC on a BCD supported exchange also if you need quick access to your BCD but this is highly risky and not recommended from us. So if you do so then please do it at your own risk

My final thoughts on the Bitcoin Diamond fork

After the successful fork of Bitcoin Cash and Bitcoin Gold, it will be highly underestimating to do away this fork because they are doing something unique with Bitcoin fork, in a different way.

Also, I think they will be a 100% mined coins because they are moving 40 million for other purpose or else I can be wrong because maybe they launch themselves with reduced ratio or denominations which is still not very clear from them yet officially.

But surely if this fork happens it will survive and will have marketplace because of the following reasons that I think:-

• BCD is GPU minable coin with optimization of X13 proof of work
• BCD is having segwit
• BCD is having privacy features which no fork of Bitcoin has it yet.
• BCD is GPU minable plus with increased block size.

These all are very low entry barriers for miners, developers, users and traders so that’s why I think this will survive because pretty a coin needs these many things only to survive. And as per their released roadmap, they look serious but the roadmap doesn’t look so impressive.

Yet I can be wrong so let’s meet again and see what happens at the other end of block 495866 i.e. after the fork.

Update 1: BCD has forked and if you are trying to claim it now in your wallet then you won’t be able to do so because the blockchain is still not live. It will be live until the late December 2017. But if you wish to buy/sell BCD futures then I have listed some of the exchanges above. Also, soon CoinSutra will be coming up with how to claim BCD from wallets and the list of exchanges where you can actually sell your BCD from your wallets when the blockchain goes live.

Update 2: Scam wallets are out for Bitcoin Diamond that are trying to get hold of your BTC seed keys/words so be aware of them and don’t put your keys/seed unless you are very sure about them. Here is our alert to the CoinSutra community.

🚫 https://t.co/sjZNHAfJfg🚫 Scam Alert. Don't use this wallet to claim your Bitcoin Diamond it is a scam to steal your bitcoins.

Update 3: There will be two more Bitcoin forks in the near future very soon. We are studying them and will be back with as much as possible info on them so that our community can safely benefit from it.

Now it is the time that: You share this post with your friends on Twitter & Facebook who are HODLing BTC so that they can also benefit from this fork. Also, do share your thoughts and questions in the comment section below. I will be waiting for them 🙂

Official Resources:-

Here are more articles for further reading:

Gavin Andresen Proposes Bitcoin Hard Fork to Address Network Scalability

Bitcoin Foundation chief scientist Gavin Andresen has proposed increasing the number of transactions allowed on the bitcoin network by raising the maximum block size by 50% per year.

Doing so would require a hard fork and "some risk", Andresen conceded in a new Bitcoin Foundation blog post, but he concluded that such proposals are necessary for the long-term viability of bitcoin as a global payments system.

Entitled A Scalability Roadmap, the piece builds on Andresen's past statements regarding how he believes the bitcoin network can be scaled to handle more transactions. While the near-term need to do so may not seem apparent, Andresen wrote, an opportunity to address the bitcoin network's scalability needs shouldn't be missed.

Andresen suggested that the bitcoin development community's consensus-driven decision-making process might result in an alternative solution or even multiple fixes to scalabiilty. Still, he argued that the limit on bitcoin transactions has been identified in the past as a weakness in need of addressing.

"Agreeing on exactly how to accomplish that goal is where people start to disagree – there are lots of possible solutions. Here is my current favorite: roll out a hard fork that increases the maximum block size, and implements a rule to increase that size over time, very similar to the rule that decreases the block reward over time."

Andresen added that the development community has always intended to raise the block size, but that a long-term scalability fix has yet to take place.

Bigger blocks are better

The bitcoin network is currently experiencing 50,000–80,000 transactions per day. As Andresen noted, however, the data needs being placed on the bitcoin network aren't huge, making the 1-megabyte block size sufficient for use today.

In the long-term, though, this block size may lead to issues, Andresen wrote, arguing that the need to take action makes sense not only from a practical perspective but also an ideological one.

Andresen said that a hard fork to increase the block size is in line with the spirit of bitcoin, arguing:

"I think the maximum block size must be increased for the same reason the limit of 21 million coins must NEVER be increased: because people were told that the system would scale up to handle lots of transactions, just as they were told that there will only ever be 21 million bitcoins."

Andresen suggested that the inflection point for the bitcoin block chain may come during a future price upswing, an event that has historically been associated with an increase in the number of bitcoin transactions.

Any fix needs time

Acknowledging the challenges involved, Andresen conceded that the process won't be easy. However, he said that such work is inevitable, noting:

"Getting there won't be trivial, because writing solid, secure code takes time and because getting consensus is hard. Fortunately, technological progress marches on, and Nielsen's Law of Internet Bandwidth and Moore's Law make scaling up easier as time passes."

Andresen posited that the 50% annual growth rate he suggested would enable the distributed network to facilitate as many as 400 million transactions per day if implemented now. After 12 years, the bitcoin network's estimated transaction capacity would reach 56 billion transactions per day, according to Andresen's initial calculations.

This, Andresen said, would put the bitcoin network in a position to serve as a truly global value exchange system.

"Even if everybody in the world switched entirely from cash to bitcoin in 20 years, broadcasting every transaction to every fully-validating node won't be a problem," he concluded.

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

Preparing for a Bitcoin Hard Fork

While a bitcoin hard fork isn't imminent, its developers have begun to research how the complex technical change could be enacted, if needed.

The proactive steps illustrate the new responsibility Bitcoin Core, the network's mostly volunteer developer group, has taken on as the protocol has grown from the pet project of its mystery creator to a broad network of consumers, businesses and stakeholders.

As bitcoin remains the most widely used blockchain platform (one that many people see as having the greatest potential to change the way society transacts), this responsibility, the bitcoin developers argue, should be treated with caution and respect.

In this light, there has been a renewed emphasis within Bitcoin Core to explore how it could implement a hard fork, a type of protocol change that has proved a lightning rod for controversy during bitcoin's ongoing scaling debate and resulted in schisms in other blockchain networks.

Long-time Bitcoin Core developer Matt Corallo told CoinDesk:

"No one has pulled off a hard fork on a working system swimmingly with a clean system coming out on the other side. A number of people working on Bitcoin Core think we should have an idea of how [a hard fork] should look."

Preparedness is important either way, Corallo said, but the unsuccessful ethereum fork pointed out further issues with hard forks that need more analysis.

Earlier this summer, ethereum enacted a change to its code after one of its more notable projects was compromised. The result was that the developers proposed a permanent divergence in its blockchain, scraping one bitcoin blockchain for an upgraded one.

A hard fork meant that every node – miners, merchants and users – had to upgrade to be able to validate the new blocks, but due to the controversial reason for the fork, a sizable minority chose not to make the switch.

The result is two development groups – ethereum and ethereum classic – both of which claim ownership over the vision for the "ethereum" project.

Given the risk that bitcoin could face from a similar split, there remains deep reservations among its developer community about whether a bitcoin hard fork should be discussed at all.

Scaling bitcoin

The tension on the subject has led to a larger debate on how best to change the bitcoin protocol, but "hard forks" aren't the only solution being discussed.

"Soft forks", for one, are backwards-compatible and self-correcting in that only a majority of miners need to update to the new consensus rules. Old nodes will then see the new blocks as valid.

In this case, not every user or node will need to update to accept the new consensus rules and continue validating transactions. (Note: There remains deep divisions about what constitutes a "hard" vs "soft" fork, with core developers even disagreeing on how to define past network issues in such terms).

Most of the conversation around hard forks so far has centered on Segregated Witness, a method originally proposed to fix transaction malleability that soon evolved into a way to scale bitcoin with a soft fork. The scaling mechanism will allow blocks with 2MB of data to be validated, up from the current 1MB limit, when implemented.

Yet, since the time it was proposed in December, the scaling debate has tapered off as other improvements have brought optimizations.

"Six months ago the network was in rough shape. The propagation across the network was really slow," Corallo said. "We've been optimizing a bunch of little places all over the place and that starts to make a big difference for people."

Because the Core developers have succeeded in optimizing the network through efforts like Corallo's Fast Internet Bitcoin Relay Network (FIBRE) and mempool size limiting, the network, in Corallo's view, is more able to handle small increases in the blocksize, which can come in the form of the Segwit upgrade without a hard fork.

That said, there remains a vocal contingent that remains committed to "on-chain scaling" that believes the bitcoin network, its user base and its businesses will not be able to sufficiently grow without more aggressive changes to the protocol that go beyond tweaks and upgrades to its exterior components.

Squabbles and gaming votes

One of the biggest concerns for the Bitcoin Core team, however, is that it remains difficult to tell when the community, and how much of that community, desires a given upgrade.

This has led to the rise of the term "consensus", or the belief that participants in an economic network are giving approval or in some way agreeing to a set of unspoken terms and conditions.

Some of the most public ways to measure this sentiment aren't that helpful because they don't incorporate all bitcoin users or they can be manipulated rather easily. Node voting, for example, was used to measure sentiment on ethereum in the run-up to its hard fork, but the practice was widely criticized for its results.

Because the majority of people that use bitcoin don't run full nodes, using node votes typically leaves out a significant number of users, including those that may be utilize the network on a regular basis. Further manipulation can happen through the spinning up of ineffective nodes.

Miscommunication, in Corallo's eyes, is one of the reasons the ethereum community is now running on two chains. While the majority of people that voiced an opinion were in support of an ethereum hard fork after The DAO hack, only a small percentage, less than 10%, of community members voted at all.

In Corallo's opinion, all mechanisms for measuring community consensus should be deployed. These include node voting; coin voting; measuring support and opposition on community discussion boards; and polls of industry players.

"We don't want to leave people behind," Corallo said.

Peter Todd, a Bitcoin Core contributor who recently penned a blog post about hard fork proposals, thinks that this approach still leaves many out, notably those who lack a full understanding of the proposals.

In interview, he said language and privacy barriers can further complicate the situation, potentially excluding those who can't read a particular proposal or don't want to broadcast their identity.

Selling the hard fork

Core's main focus, then, must be on writing up the technical specifications in ways community members can understand, said Corallo. If bitcoin businesses, for instance, push back on a hard fork because they don't understand the proposal and its effects, that's core's responsibility, a communication error, he said.

While Corallo thinks the community has calmed a bit since the hostility over hard forking bitcoin started last year, Todd thinks the ethereum debacle has stoked hesitation again.

"The main thing is a lot of people quite understandably are dubious about [hard forks]," Todd said. "It's harder now to convince people [hard forks] are a good idea than it was six months ago."

This contention around hard forking is one reason why research and development around the concept has largely stalled, Core contributors say.

"People troll you to death," Todd said. "And I think that has stopped people from working on Core development publicly and sometimes altogether."

Quite a few, though, are working on hardfork proposals quietly, he said.

Core developer, Cory Fields declined to comment on hard fork issues, and several other core developers never responded to inquiries for CoinDesk. This speaks not only to the community's sensitivity to the idea, but also that Core is merely a group of individuals who don't always see eye-to-eye on elements affecting their work.

"People aren't used to these things being driven by money, like bitcoin. I think it creates a different intensity," Todd said.

In the next five years, though, Todd said, there's a pretty high chance the rules of the network will need to be changed. Specifically to enhance security of the network, such as improvements that would prevent attacks against mining pools, Todd doesn't have a problem with hard forking in the future.

"You need a pretty good reason to do a hard fork; we just don't have good reasons right now," Todd said.

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

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Improve your services

Your search engine does not find any satisfactory results for searches. It is too weak. Also, the server of bing is often off

I created a yahoo/email account long ago but I lost access to it; can y'all delete all my yahoo/yahoo account except for my newest YaAccount

I want all my lost access yahoo account 'delete'; Requesting supporter for these old account deletion; 'except' my Newest yahoo account this Account don't delete! Because I don't want it interfering my online 'gamble' /games/business/data/ Activity , because the computer/security program might 'scure' my Information and detect theres other account; then secure online activities/ business securing from my suspicion because of my other account existing will make the security program be 'Suspicious' until I'm 'secure'; and if I'm gambling online 'Depositing' then I need those account 'delete' because the insecurity 'Suspicioun' will program the casino game 'Programs' securities' to be 'secure' then it'll be 'unfair' gaming and I'll lose because of the insecurity can be a 'Excuse'. Hope y'all understand my explanation!

I want all my lost access yahoo account 'delete'; Requesting supporter for these old account deletion; 'except' my Newest yahoo account this Account don't delete! Because I don't want it interfering my online 'gamble' /games/business/data/ Activity , because the computer/security program might 'scure' my Information and detect theres other account; then secure online activities/ business securing from my suspicion because of my other account existing will make the security program be 'Suspicious' until I'm 'secure'; and if I'm gambling online 'Depositing' then I need those account 'delete' because the insecurity 'Suspicioun' will program the casino game 'Programs' securities' to be… more

chithidio@Yahoo.com

i dont know what happened but i can not search anything.

Golf handicap tracker, why can't I get to it?

Why do I get redirected on pc and mobile device?

Rahyaftco@yahoo.com

RYAN RAHSAD BELL literally means

Question on a link

In the search for Anaïs Nin, one of the first few links shows a picture of a man. Why? Since Nin is a woman, I can’t figure out why. Can you show some reason for this? Who is he? If you click on the picture a group of pictures of Nin and no mention of that man. Is it an error?

Repair the Yahoo Search App.

Yahoo Search App from the Google Play Store on my Samsung Galaxy S8+ phone stopped working on May 18, 2018.

I went to the Yahoo Troubleshooting page but the article that said to do a certain 8 steps to fix the problem with Yahoo Services not working and how to fix the problem. Of course they didn't work.

I contacted Samsung thru their Samsung Tutor app on my phone. I gave their Technican access to my phone to see if there was a problem with my phone that stopped the Yahoo Search App from working. He went to Yahoo and I signed in so he could try to fix the Yahoo Search App not working. He also used another phone, installed the app from the Google Play Store to see if the app would do any kind of search thru the app. The Yahoo Search App just wasn't working.

I also had At&t try to help me because I have UVERSE for my internet service. My internet was working perfectly. Their Technical Support team member checked the Yahoo Search App and it wouldn't work for him either.

We can go to www.yahoo.com and search for any topic or website. It's just the Yahoo Search App that won't allow anyone to do web searches at all.

I let Google know that the Yahoo Search App installed from their Google Play Store had completely stopped working on May 18, 2018.

I told them that Yahoo has made sure that their Yahoo members can't contact them about anything.

I noticed that right after I accepted the agreement that said Oath had joined with Verizon I started having the problem with the Yahoo Search App.
No matter what I search for or website thru the Yahoo Search App it says the following after I searched for
www.att.com.

WEBPAGE NOT AVAILABLE
This webpage at gttp://r.search.yahoo.com/_ylt=A0geJGq8BbkrgALEMMITE5jylu=X3oDMTEzcTjdWsyBGNvbG8DYmyxBHBvcwMxBHZ0aWQDTkFQUEMwxzEEc2VjA3NylRo=10/Ru=https%3a%2f%2fwww.att.att.com%2f/Rk=2/Es=plkGNRAB61_XKqFjTEN7J8cXA-
could not be loaded because:
net::ERR_CLEARTEXT_NOT_PERMITTED

I tried to search for things like www.homedepot.com. The same thing happened. It would say WEBPAGE NOT AVAILABLE. The only thing that changed were all the upper and lower case letters, numbers and symbols.
Then it would again say
could not be loaded because:
net::ERR_CLEARTEXT_NOT_PERMITTED

This is the same thing that happened when Samsung and At&t tried to do any kind of searches thru the Yahoo Search App.

Yahoo needs to fix the problem with their app.

Yahoo Search App from the Google Play Store on my Samsung Galaxy S8+ phone stopped working on May 18, 2018.

I went to the Yahoo Troubleshooting page but the article that said to do a certain 8 steps to fix the problem with Yahoo Services not working and how to fix the problem. Of course they didn't work.

I contacted Samsung thru their Samsung Tutor app on my phone. I gave their Technican access to my phone to see if there was a problem with my phone that stopped the Yahoo Search App from working. He went to Yahoo and… more