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F2Pool Officially Decides to Support SegWit on Bitcoin

F2Pool, the world’s second largest mining pool, released an announcement this Tuesday signaling SegWit(Segregated Witness )for bitcoin.

F2Pool’s stance on SegWit has been ambiguous over the past several weeks. On March 22, Wang Chun, the owner of F2Pool, wrote across social media platform,

“Rest in peace Bitcoin Unlimited,” making clear his rejection of bitcoin unlimited.

On March 27, however, Chun shared a rather abstract statement with the bitcoin community claiming that:

“Bitcoin can’t fork and won’t fork.”

The community was confused about the intent of his statement as SegWit is also a fork of the bitcoin network.

It seems that Chun and F2Pool were not willing to pick a specific side. On April 1, F2Pool mined SegWit blocks for both bitcoin and litecoin, but stopped signaling for SegWit the very next day. Based on what they have been working on, it seems that F2Pool wants to test SegWit on litecoin first before moving to bitcoin.

On April 14, Chun revealed the result of an internal survey conducted among its miner. He disclosed that 56 percent of miners within the F2Pool mining pool network were in favor of SegWit. And now Chun and the F2Pool have finally clarified their stance on SegWit with the following announcement .

F2Pool supporting SegWit

The announcement reads:

Bitcoin has come a very long way ever since its inception in 2009. The price of per bitcoin has reached over$1200 and for the first time ever, the price of one bitcoin has surpassed the price of one ounce of gold. Now banks worldwide are joining the race to study bitcoin and its backbone technology blockchain, preparing themselves for an ongoing revolution.

In such contexts, the bitcoin community has been debating scaling solutions for years. Sadly, the debate is developing into an all-out war of words as different parties attack one another on the Internet.

Most people don’t realize that the debate is about what is best for bitcoin instead of choosing one specific scaling solution, SegWit, BU or other scaling solutions. At F2Pool, we are in favor of SegWit plus large blocksize. SegWit can help solve technical problems and large blocksize is beneficial to the bitcoin ecosystem in the long run. But the hard fact is that we are not able to reach this goal under the current situation.

The decision to support SegWit may be abrupt, but F2Pool claims that it is for the best interests of its miners and the community.

We see the strong demand of scaling, and many foreign users are supporting SegWit. Therefore, we cannot afford to do nothing. It’s time we move on and activate SegWit first.  As for large blocksize, let’s leave it for future discussions. We are firmly convinced that as Bitcoin keeps evolving, it will continue to surprise the world with its enormous potentials.

April 18, 2017

Here are some comments about the announcement at 8btc:

F2POOL

 

 

 

 

“Does this mean miners are also with SW?”

f2pool

“Hooray! No need to worry about money.”

F2POOL

“It’s all about hash power. They want to suppress BTCC.”

COMMENTS(47)

  • Doofus
    6 months ago Doofus

    Wang Chun, the owner of F2Pool, announced the result of an internal survey conducted among its miners. 56 percent of miners within the F2Pool mining pool network were in favor of SegWit. An officail announcement is now released to signal SEGWIT.

  • NorrisK
    6 months ago NorrisK

    Care to provide a reference? Are you a miner on their pool and have this information this way?I’m actually surprised that they started signaling for both btc and ltc as he was even reluctant to signal ltc a few weeks ago. I guess it is ultimately up to the miners as they can choose to leave the pool at any point if they don’t agree with the direction taken.

  • AngryDwarf
    6 months ago AngryDwarf

    In order to truly understand the art of wang, one should consider wearing flip-flops.Several discussions on it already:https://bitcointalk.org/index.php?topic=1871075.0https://bitcointalk.org/index.php?topic=1868239.0https://bitcointalk.org/index.php?topic=1850030.0

  • crazyivan
    6 months ago crazyivan

    He correctly did what users of the pool want. So fuck Roger Ver and his BS ideas. SegWit is what market wants, so give the market what it wants instead of spreading insecurity and trying to sell alternative solutions for months. Once this scaling issue s behind us, BTC goes over $2k.

  • digaran
    6 months ago digaran

    Do you guys really think that they can change the game in favor of segwit? so far I doubt it, many mining farms recently found out about asicboost and they might have already bought thousands of ASICs manufactured by bitmain or other manufacturer might have already started to build asicboost miners, I doubt if majority of miners want to activate segwit since it blocks asicboost.

  • Denker
    6 months ago Denker

    Quote from: crazyivan on April 18, 2017, 08:02:14 AM
    He correctly did what users of the pool want. So fuck Roger Ver and his BS ideas. SegWit is what market wants, so give the market what it wants instead of spreading insecurity and trying to sell alternative solutions for months. Once this scaling issue s behind us, BTC goes over $2k.

    I hope this is true. With Wang Chun you never what you will get. He likes to troll and play the market as well.But I agree that the majority wants SegWit and miners should finally accept that instead of stalling technological progress just for short term profits! Especially Jihan Wu is a very big problem in that regard.And if SegWit should get activated we will easily move over $2000. However the way to go is still very long!

  • pinkflower
    6 months ago pinkflower

    Quote from: AngryDwarf on April 18, 2017, 07:57:13 AM
    In order to truly understand the art of wang, one should consider wearing flip-flops.Several discussions on it already:https://bitcointalk.org/index.php?topic=1871075.0https://bitcointalk.org/index.php?topic=1868239.0https://bitcointalk.org/index.php?topic=1850030.0

    Thanks for posting. I shall dig into it already and see whats up and what might likely happen. One event that could happen is BTC doesnt activate Segwit and doesnt hard fork. But LTC does activate Segwit. Could we then see the start of the rise and rise of Litecoin?

  • Lauda
    6 months ago Lauda

    Quote from: pooya87 on April 18, 2017, 07:54:23 AM
    where is the official announcement? the only thing i saw was the twitter feed from Wang Chun and that is for a couple of days ago and nothing new has came out and they have been signalling support for SegWit and Extended BLocks ever since.in other words, you are late to the partyp.s. 3 days and 4 hours agohttps://www.blocktrail.com/BTC/block/000000000000000000f2eb6e5743a4942d26f13969a1e115498783ee7aa5c644
    No, he’s not late. There is now a official statement regarding this:https://www.reddit.com/r/Bitcoin/comments/66172t/f2pool_announcement_about_formally_supporting/Quote
    Short Summary: Bitcoin has been gaining more users, but problems have also emerged. Users are complaining about the long waiting without confirmations. Although various plans were proposed by devs, the debate has taken way too long time. F2Pool always favors Segwit + Big Blocks. Segwit can solve some technical problems and can bring some benefits. Big blocks are also beneficial to the bitcoin network in the long run. However the reality is that we have not achieved Segwit + Big blocks up to now. We see the strong demand of scaling, and many foreign users are supporting Segwit. Therefore it’s time we move on and activate Segwit first. Then we’ll leave the big blocks for future discussions. We believe by that time, we will naturally arrive at a (good) result. Bitcoin will keep evolving. Let us witness the miracles of bitcoin.

  • BitcoinAllBot
    6 months ago BitcoinAllBot

    Here is the link to the original comment thread. Or you can comment here to start a discussion. Author: 8btccom

  • -bawb405-
    6 months ago -bawb405-

    For now

  • autotldr
    6 months ago autotldr

    This is the best tl;dr I could make, original reduced by 80%. (I’m a bot)

    On April 1, F2Pool mined SegWit blocks for both bitcoin and litecoin, but stopped signaling for SegWit the very next day.

    Based on what they have been working on, it seems that F2Pool wants to test SegWit on litecoin first before moving to bitcoin.

    Most people don’t realize that the debate is about what is best for bitcoin instead of choosing one specific scaling solution, SegWit or BU. At F2Pool, we are in favor of SegWit plus large blocksize, which is beneficial to the bitcoin ecosystem in the long run.

    Extended Summary | FAQ | Theory | Feedback | Top keywords: bitcoin#1SegWit#2F2Pool#3mined#4Chun#5

  • BitcoinNL
    6 months ago BitcoinNL

    Great! Everybody Wang Chun tonight!

  • Miner62
    6 months ago Miner62

    Everybody Wang Chung tonight!

  • bitsko
    6 months ago bitsko

    http://i.imgur.com/vx3WHb6.png

    Meme text submissions welcome

  • blacksquare
    6 months ago blacksquare

    Everbody have fun tonight

  • Doofus
    6 months ago Doofus

    Quote from: NorrisK on April 18, 2017, 07:53:50 AM
    Care to provide a reference? Are you a miner on their pool and have this information this way?I’m actually surprised that they started signaling for both btc and ltc as he was even reluctant to signal ltc a few weeks ago. I guess it is ultimately up to the miners as they can choose to leave the pool at any point if they don’t agree with the direction taken.
    you can read the whole story here. frankly, i am surprised too, coz last week they said Segwit would be a disaster. and now after vote, they finally clarified their stance. http://news.8btc.com/f2pool-officially-decides-to-support-segwit-on-bitcoin

  • Doofus
    6 months ago Doofus

    Quote from: Denker on April 18, 2017, 08:14:00 AM

    Quote from: crazyivan on April 18, 2017, 08:02:14 AM
    He correctly did what users of the pool want. So fuck Roger Ver and his BS ideas. SegWit is what market wants, so give the market what it wants instead of spreading insecurity and trying to sell alternative solutions for months. Once this scaling issue s behind us, BTC goes over $2k.

    I hope this is true. With Wang Chun you never what you will get. He likes to troll and play the market as well.But I agree that the majority wants SegWit and miners should finally accept that instead of stalling technological progress just for short term profits! Especially Jihan Wu is a very big problem in that regard.And if SegWit should get activated we will easily move over $2000. However the way to go is still very long!
    They just released an official announcement on April,18th. Here is the English version of it. http://news.8btc.com/f2pool-officially-decides-to-support-segwit-on-bitcoin

  • SpellfireIT
    6 months ago SpellfireIT

    This made the front page!

  • OROBTC
    6 months ago OROBTC

    Quote from: Denker on April 18, 2017, 08:14:00 AM

    Quote from: crazyivan on April 18, 2017, 08:02:14 AM
    He correctly did what users of the pool want. So fuck Roger Ver and his BS ideas. SegWit is what market wants, so give the market what it wants instead of spreading insecurity and trying to sell alternative solutions for months. Once this scaling issue s behind us, BTC goes over $2k.

    I hope this is true. With Wang Chun you never what you will get. He likes to troll and play the market as well.But I agree that the majority wants SegWit and miners should finally accept that instead of stalling technological progress just for short term profits! Especially Jihan Wu is a very big problem in that regard.And if SegWit should get activated we will easily move over $2000. However the way to go is still very long!

    Agreed with you two.  It looks like the argument is slowly shifting to SegWit.  I agree as well that once the BTC Civil War is settled (and yes it may take a while), then the path is clear for a nice price run-up.If this whole mess gets settled promptly, it will bring more confidence to the Bitcoin Ecosystem.  Which will bring in more new users (and we hope more merchants).

  • maxi_malism
    6 months ago maxi_malism

    No one knows what the hell it means though

  • Rrdro
    6 months ago Rrdro

    Considering only people subscribed to /r/bitcoin would see this in their frontpage I guess they almost all know what it means.

  • niugnep24
    6 months ago niugnep24

    hah I like that 1-day old accounts get flaired

  • ManDrone
    6 months ago ManDrone

    SlickWillybot is best bot.

  • DCromo
    6 months ago DCromo

    mine’s still ‘flaired’ at 2 days so i dunno. and i called him a liar for it. so i hope it’s his flair lol.

    i’m also kidding but you know, the internet.

  • MasterUm
    6 months ago MasterUm

    This is the subreddit I come to NOT to hear about this. Please, not. Not in my safe space, lol.

  • Trencheel303
    6 months ago Trencheel303

    wait what? I thought the front page was just the globally most popular articles. I didn’t realise you had to be subscribed to a sub to see it. here was me thinking that all my favourite crypto articles were making the reddit front page for all and it’s just because i’m in their subs!

  • 2daMooon
    6 months ago 2daMooon

    Of your feed or of /r/all?

  • strips_of_serengeti
    6 months ago strips_of_serengeti

    I thought the front page was just the globally most popular articles.

    Nope, that’s /r/all that does that.

  • juscamarena
    6 months ago juscamarena

    I find it odd how miners that were in support of SW were still mining on F2POOL when they were on the fence on which direction to go: BU, or SW. It’s slightly a bit worrying that miners are apathetic in decision making themselves.

  • DCromo
    6 months ago DCromo

    You’re the balls!

  • egrodo
    6 months ago egrodo

    I’ve been subscribed but not following the scene. There a TLDR for this?

  • maxi_malism
    6 months ago maxi_malism

    Sorry, was thinking of /r/all

  • pinkflower
    6 months ago pinkflower

    So whats the update? There are some people in the forum saying that F2pool is trolling everyone. They say theres no clear reason why F2pool is starting to support Segwit and what their real motives are.Do you think something could blow up on Segwit supporters’ faces?

  • 110101002
    6 months ago 110101002

    That’s a really dumb compromise.

  • agentgreen420
    6 months ago agentgreen420

    Hey girl

    You wanna Wang Chung tonight?

  • belcher_
    6 months ago belcher_

    There’s a great update called segwit which is being added to bitcoin as a soft fork. This update also breaks a patented attack on the mining algorithm called asicboost, which was unknown when segwit was coded. The patent-holder of asicboost is a big miner called Bitmain, who have been talking to lots of other miners including F2Pool to try to get segwit blocked. OP is about how F2Pool seems to have decided to in fact support segwit.

  • Doofus
    6 months ago Doofus

    Quote from: pinkflower on April 19, 2017, 06:58:32 AM
    So whats the update? There are some people in the forum saying that F2pool is trolling everyone. They say theres no clear reason why F2pool is starting to support Segwit and what their real motives are.Do you think something could blow up on Segwit supporters’ faces?
    Some say F2Pool is afraid BTCC might overreach its hash power and that’s why they must move on now.

  • ravend13
    6 months ago ravend13

    You know the two are not mutually exclusive, right?

  • egrodo
    6 months ago egrodo

    I see, that sounds like a good idea. So the update is going through for sure but people could still choose to use the previous update, segmenting the community?

  • Aidspanda
    6 months ago Aidspanda

    Means diddly coming from that troll Wang Chun. Positive news though hopefully he actually means it.

  • pinkflower
    6 months ago pinkflower

    Quote from: Doofus on April 20, 2017, 01:38:41 AM

    Quote from: pinkflower on April 19, 2017, 06:58:32 AM
    So whats the update? There are some people in the forum saying that F2pool is trolling everyone. They say theres no clear reason why F2pool is starting to support Segwit and what their real motives are.Do you think something could blow up on Segwit supporters’ faces?
    Some say F2Pool is afraid BTCC might overreach its hash power and that’s why they must move on now.

    What does that mean? Are they pulling out their signal to activate Segwit? Some people are now saying they are and Segwit activation for Litecoin is now at 65% and falling. But upon checking Segwit is still at 70% for LTC.

  • Slark
    6 months ago Slark

    Quote from: Doofus on April 19, 2017, 01:53:58 AM
    you can read the whole story here. frankly, i am surprised too, coz last week they said Segwit would be a disaster. and now after vote, they finally clarified their stance. http://news.8btc.com/f2pool-officially-decides-to-support-segwit-on-bitcoin
    Apparently F2Pool changed their mind, . Nothing wrong with it, they realized that SegWit will in the long run be less of a disaster than Bitcoin Unlimited.I expect that more miners will follow, they might  change their mind after witnessing progress of Litecoin + SegWit.There is one thing worrying me I don’t think that pools controlled by Jihan will ever comply.

  • deisik
    6 months ago deisik

    Quote from: Slark on April 20, 2017, 07:08:04 AM

    Quote from: Doofus on April 19, 2017, 01:53:58 AM
    you can read the whole story here. frankly, i am surprised too, coz last week they said Segwit would be a disaster. and now after vote, they finally clarified their stance. http://news.8btc.com/f2pool-officially-decides-to-support-segwit-on-bitcoin
    Apparently F2Pool changed their mind, . Nothing wrong with it, they realized that SegWit will in the long run be less of a disaster than Bitcoin Unlimited.I expect that more miners will follow, they might  change their mind after witnessing progress of Litecoin + SegWit.There is one thing worrying me I don’t think that pools controlled by Jihan will ever comply
    Then we will likely end in a sort of stalemateIf SegWit doesn’t get activated in either Bitcoin or Litecoin, some other coins will take the lead and ultimately this stalemate will make Bitcoin obsolete. Obviously, it is not just about SegWit only, all future proposals will likely get blocked as well in the same way. And that may in fact be a viable approach taken by miners since it would allow them to continue squeezing profits from Bitcoin as long as possible, but that doesn’t bode well for Bitcoin itself in the long term

  • pinkflower
    6 months ago pinkflower

    Ok then the power of Bitmain stretches and reaches far in the realms of LTC as well, blocking Segwit and all the good that comes with it. Then maybe the user activated HF should be tested in LTC first and lets see how it goes. If its successful Bitcoin can follow. The miners shouldnt have this much power and its time to show them.

  • pooya87
    6 months ago pooya87

    where is the official announcement? the only thing i saw was the twitter feed from Wang Chun and that is for a couple of days ago and nothing new has came out and they have been signalling support for SegWit and Extended BLocks ever since.in other words, you are late to the partyp.s. 3 days and 4 hours agohttps://www.blocktrail.com/BTC/block/000000000000000000f2eb6e5743a4942d26f13969a1e115498783ee7aa5c644edit: i just realized this is a Doofus topic, no wonder.

  • pinkflower
    6 months ago pinkflower

    Quote from: Doofus on Today at 01:38:41 AM

    Quote from: pinkflower on April 19, 2017, 06:58:32 AM
    So whats the update? There are some people in the forum saying that F2pool is trolling everyone. They say theres no clear reason why F2pool is starting to support Segwit and what their real motives are.Do you think something could blow up on Segwit supporters’ faces?
    Some say F2Pool is afraid BTCC might overreach its hash power and that’s why they must move on now.

    What does that mean? Are they pulling out their signal to activate Segwit? Some people are now saying they are and Segwit activation for Litecoin is now at 65% and falling. But upon checking Segwit is still at 70% for LTC.

  • deisik
    6 months ago deisik

    Quote from: Slark on Today at 07:08:04 AM

    Quote from: Doofus on April 19, 2017, 01:53:58 AM
    you can read the whole story here. frankly, i am surprised too, coz last week they said Segwit would be a disaster. and now after vote, they finally clarified their stance. http://news.8btc.com/f2pool-officially-decides-to-support-segwit-on-bitcoin
    Apparently F2Pool changed their mind, . Nothing wrong with it, they realized that SegWit will in the long run be less of a disaster than Bitcoin Unlimited.I expect that more miners will follow, they might  change their mind after witnessing progress of Litecoin + SegWit.There is one thing worrying me I don’t think that pools controlled by Jihan will ever comply
    Then we will likely end in a sort of stalemateIf SegWit doesn’t get activated in either Bitcoin or Litecoin, some other coins will take the lead and ultimately this stalemate will make Bitcoin obsolete. Obviously, it is not just about SegWit only, all future proposals will likely get blocked as well in the same way. And that may in fact be a viable approach taken by miners since it would allow them to continue squeezing profits from Bitcoin as long as possible, but that doesn’t bode well for Bitcoin itself in the long term

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