Announment..Crypto August. Bitcoin. Plans.
Dear Ethtrade members! Last year was a very intense and interesting one. At this very moment Everybody is staying in front of a brink with news and innovations.
That news is not only about Ethtrade but also a news for the whole crypto world regarding plans and changes with activation of SegWit in a most popular ctrypto - Bitcoin. Therefore administration of Ethtrade took decent measures to protect clients from any possible bad impact of SegWit. Ethtrade wants all members have clear awareness of the upcoming well known event in a Crypto world. There are many things that nobody can predict, avoid or improve during these times. Those are traders, stocks, and many other things and now even Bitcoin has a phase of unclear future. Therefore we all need to prepare for future changes and all possible side effects.
Here we have approximate plan of future changes with Bitcoin thus we want to give some advices how to act in this time.
This Roadmap shows and informs us about the most important dates in next few months
July 21: BIP91 Signaling to Start
The software client that resulted from the New York Agreement is a fork of the Bitcoin Core codebase, called “BTC1.”
The SegWit2x development team aims for July 21st to be the day that BTC1 nodes are actually up and running, and, importantly, the day that miner signaling should commence.
July 23 (at the earliest): BIP91 Lock In
The precise threshold for BIP91 activation requires that within a pre-defined series of 336 blocks, 269 blocks must signal readiness. That’s some 80 percent of hash power, over about 2 1/3 days. So assuming the SegWit2x roadmap is followed, BIP91 could, at the very soonest, lock in on July 23rd.
July 25 (at the earliest): BIP91 Activation
On July 25th, another 336 blocks after BIP91 “lock in”, BIP91 could actually go into effect, at the soonest. Any blocks that do not signal readiness for Segregated Witness (per BIP141) will now be rejected.
July 29: BIP91 Deadline
If Bitcoin miners want to be sure to avoid a “split” in Bitcoin’s blockchain and currency as a result of BIP148 activation, July 29th is a first deadline day for them. To ensure that BTC1’s BIP91 is activated in time to be compatible with BIP148, it should be locked in on this day at the very latest, say, before 08:00 UTC.
July 31: BIP141 Deadline
On this day (UTC), at the very latest, either BIP91 must activate, or BIP141 must lock in. In other words, if BIP91 did not lock in in time, there must now have been a two-week difficulty period in which 95 percent of hash power signals support for SegWit.
August 1: BIP148 Activation
This is the day BIP148 activates, which makes it the third and final deadline day for miners to avoid a split. On August 1st, at 00:00 UTC (note that this is still July 31st in the U.S.), all BIP148 nodes will start rejecting any blocks that do not signal readiness for Segregated Witness (per BIP141). If Bitcoin Core’s BIP141 or BTC1’s BIP91 have locked in and/or activated in time, there should be no chain-split.
August 15: Potential BIP148 Proof-of-Work Change
While this date is not set in stone either, August 15th could see the introduction of yet another type of “Bitcoin,” which we’ll refer to as “NewPoW Bitcoin” or “NewPoWBTC.” As a UASF, August 1st’s BIP148 fork is initially effectuated by users — not miners. Users will start to reject any blocks that do not signal readiness for Segregated Witness (per BIP141). This should incentivize miners to follow the BIP148 chain
Late August to Mid-September: SegWit Activation
If a chain-split is avoided by miners, SegWit should activate around this time. If you’re running a compatible client by now, you can begin to enjoy the new features while maintaining top-notch security. If a chain-split was not avoided, the situation will probably still be too complex to predict.
Late October to Mid-November: SegWit2x Hard Fork
IMPORTANT!
In order to avoid any possible losses do not make any transactions with Bitcoin from 1 till 15th of August.
Due to all latest news Ethtrade platform & traders takes a pause – holiday for the time of SegWit from 24th of July till 7th of August (preliminary), unless the situation with Bitcoin is clear and predictable enough to continue safely, if the situation remains unstable there is a holiday extension possibility.
Therefore we all have nothing else but to take patience to follow the good news with Bitcoin.
Now we present you a possible plan for August.
At this very moment Ethtrade does negotiations with possible strategic cryptocurrency partner who can satisfy the high growing demands of the platform, such as becoming an estimated payment processor escaping the need to use aside cryptocurrencies and exchangers, which can allow to avoid any future forks such as Ethereum had before and now Bitcoin is going to go through with.
With the help of the own crypto there are many new great features can be opened such as:
1 trading with no limits on the popular stocks
2 get new coins with mining using the POS technology
3 provide with its assets Ethtrade and thousands of members
4 possibility to keep funds offline
5 do transactions with no limits and restrictions
In the nearest future you get more complete and full information on the possibilities, news and updates.
We wish you a pleasant weekend and hope for the best outcome from the activation of Segwit system in blockchain.
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