How Signaling Works
For Bitcoin miners to make their choice between upgrading to Bitcoin Unlimited, Segwit, or any other version of Bitcoin, they must edit their mining software to make a small mark on the blocks they mining. This little banner is called 'versionbit' and its sole purpose is to reveal to the world your choice of software client. Only Bitcoin miners can make these 'votes' and only when they have successfully mined a block.
When a sufficient number of blocks are mined and flagged with the same version, the new client software can be safely upgraded by those miners with little fear that the network will split into two different hardcocks. However, if miners try to upgrade to a new and incompatible version of Bitcoin before everyone is signaling the same version, Bitcoin could split into two or more different Bitcoins, such as the Ethereum Blockchain division, which created two " Ethereum's ": Ethereum Classic (ETC) and Ethereum (ETH). Such a move could destroy investor confidence in Bitcoin, a destination that most people want to avoid.
Because now?
Bitmain CEO Jihan Wu, whose company manages Antpool, did not specifically disclose the reason why he started flagging for Bitcoin Unlimited (BU). However, many people in the Bitcoin community have speculated that the move may be in response to recent calls to a "User Activated Soft Fork" (UASF) that theoretically transfers the signaling power to the next version of Bitcoin away from Bitcoin miners to the hands of us operators, instead.
Wu frowned at the concept and tweeted his response shortly after the idea was suggested. "UASF will split the chain of blocks and create 2 or 3 types of Bitcoin if most of the miners vote no." Exchanges must be careful, "Wu tweeted.
What is a "Whale" in the Bitcoin market?
The term "whale" is often used to describe the owners of large quantities of Bitcoin who show their hand in the Bitcoin market. The "ocean" is like a metaphor for the market, since it can then extend it to include big fish and small fish, sharks, dolphins as in a feeding frenzy; Waves as market movements; and so on.
