Bitcoin Price Analysis: XT Hardfork Has Insufficient Support
Bitcoin XT has failed to attract majority support and has not achieved 750 blocks in the best chain at its activation date. According to Gavin Andresen’s BIP101 specification that is implemented in Bitcoin XT: Deployment shall be controlled by hash-power supermajority vote (similar to the technique used in BIP34), but the earliest possible activation time is 2016-01-11 00:00:00 UTC. Activation is achieved when 750 of 1,000 consecutive blocks in the best chain have a version number with the first, second, third, and thirtieth bits set.
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In just three days, Ethereum is to undertake the first of its kind hardfork in the digital currency space. With Geth, Parity and Mist all having a hardfork release, all eyes are now on the miners. Ethpool/Ethermine was the first to open the decision to miners with more than 81% voting in support of the hardfork on both pools. Dwarfpool, currently the biggest ethereum miner, followed, with more than 72% supporting the fork. Peter from Ethpool/Etherminer, speaking to CCN, stated: “[T]esting will start tomorrow and all mining nodes will be upgraded by Tuesday according to the result of the....
After more than a month of raging debate, Ethereum’s community has reached a conclusive decision. Ethereum will Hardfork. Some tense hours yesterday raised the prospect of a protracted fight, but, Ethpool cleared any doubt by announcing they are to support the hardfork: “[A]ccording to our voting policy stated in the announcement, we will support the hard fork.” Dwarfpool, Etherpool/Etherminer, Coinotron, Nanopool, MiningPoolClub, Alpereum and Eth.pp.ua support the fork in certain terms. In combination, they control about 60% of the hashrate, ensuring the chain they work upon is the....
Ethereum’s community has reached a general understanding that the best way to move forward and address the month long dos of the network is a quick hardfork. A matter of urgency has been added following a recent backlog of more than 12,000 transactions and some miners opting in for zero transaction blocks. Gavin Wood, founder of Ethcore, maintainers of Parity, the second most used ethereum client, publicly stated yesterday: The EIP150.c1 hard fork is being targeted for Monday. We have a candidate branch and will be releasing a fork-ready client as soon as there are proper consensus tests.....
The blocksize debate has been brought to the forefront once more as a number of Bitcoin developers, including Gregory Maxwell, CTO of Blockstream and Mark Friedenbach, Core Tech Engineer at Blockstream, came out against the Hong Kong Consensus, arguably the most important document in Bitcoin’s history since the whitepaper. According to what may be a leak of an alleged meeting between pools and miners representing more than 75% of hashpower, consensus has been reached to hardfork to 2mb if Bitcoin Core developers do not release a new Bitcoin Core client with a 2MB hardfork code by August....
The bitcoin price chart has been sluggish with trade volume gradually decreasing during the past several weeks. The ever-present prospect of a potential price rally motivates most bitcoin speculators to continue hoping despite a protracted bear market. This analysis is provided by xbt.social with a 3 hour delay. Read the full analysis here. Not a member? Join now and receive a $29 discount using the code CCN29. Bitcoin Price Analysis. Time of analysis: 15h20 UTC. Bitstamp 1-Hour Chart. From the analysis pages of xbt.social, earlier today: We're finally seeing the 1-day moving averages....