Home / Crypto Currency Video / Crypto Tips News: Segwit2X Cancelled | Ethereum’s Parity Wallets Frozen

Crypto Tips News: Segwit2X Cancelled | Ethereum’s Parity Wallets Frozen



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LINKS FOR ADDITIONAL READING FOR THIS VIDEO & ALL INFO IN TEXT DOWN BELOW

Segwit and Segwit2X defined: https://cointelegraph.com/explained/all-you-need-to-know-about-this-whole-segwit-vs-segwit2x-thing-explained

Rumors of Segwit2X will nonetheless happen: https://news.bitcoin.com/bitpico-claims-segwit2x-still-alive-despite-evidence-contrary/

Price actions of BTC and BTH: http://www.businessinsider.com/bitcoin-price-crashes-money-goes-to-bitcoin-cash-2017-11

Hacked Article on BTC vs BTH: https://hacked.com/bitcoin-cash-bch-bitcoin-btc-showdown-let-fight-begin/

Breakdown of Parity hack: https://www.cryptocoinsnews.com/i-accidentally-killed-it-parity-wallet-bug-locks-150-million-in-ether/

You would possibly take into account that the cost of Bitcoin used to be ceaselessly emerging due to the anticipation of the SegWit2X laborious fork. Perhaps this used to be because of traders in need of to get in earlier than the fork to achieve get right of entry to to the brand new cash. But because the rumor mill turns, it kind of feels that the Segwit2X laborious fork has been known as off. News of this replace used to be adopted by means of a drop in the cost of Bitcoin and a pointy build up in worth for Bitcoin Cash. On the outside it seems like a pile of traders ran from one coin to the opposite, however a much more likely situation may well be that those that invested in BTC simply to achieve get right of entry to to the brand new cash subsidized out.
Looking at what used to be going down with Bitcoin Cash the previous couple days, the amount speaks volumes. Taking a have a look at the markets for Bitcoin Cash, Bithumb is on most sensible with regard to quantity, suggesting that the transfer to Bitcoin Cash isn’t essentially broad unfold. But there’s no denying how Bitcoin Cash is other than the legacy chain of BTC. It provides sooner speeds and less expensive transactions and replay coverage. If you’re no longer certain why replay coverage is a large deal, take a look at my previous video that is going over SegWit2X, it explains what replay coverage is and why you must care about it in the event you’re invested in Bitcoin.
Despite the entire information that SegWit has been known as off, there are nonetheless whispers that positive mining swimming pools will continue with the laborious fork regardless, to that I say, we’ll simply have to attend and spot.

Ethereum has had its fair proportion of, let’s name them, “learning experiences”, and the latest one in this listing took place this week. Let’s check out what took place, who used to be affected and the stairs being taken to transport ahead.

It’s nearly comical what took place with Ethereum just lately with the Parity pockets blunder. Almost comical excluding for the truth that it’s affected a fairly large amount of cash and fairly a couple of other folks too.
Here’s a watered down model of what took place, in a nutshell, one fortunate particular person who’s new to Ethereum and finding out the bits and bobs of its code made the fateful mistake of accidentally discovering a computer virus having to do with the library for the Parity pockets. The discovery took place once they accidentally modified the library contract right into a multi-sig pockets. Once understanding what had took place they attempted to delete the code. Unfortunately this affected all Parity multi-sig wallets and resulted within the freezing of round $150 million value of Ether.

Multi-sig wallets are wallets that require a couple of signatures earlier than finances will also be moved out of them. Most continuously it’s firms who’ve raised cash thru ICOs who use most of these wallets to make certain that their finances are treated in truth. Also people who are excited by an extra layer of safety will use multi-sig wallets. These are those who’ve been effected by means of this hack, and who’s finances are successfully frozen.

Moving ahead it kind of feels that so that you could get right of entry to those finances once more would require a dreaded laborious fork.
Ethereum has slightly of a historical past with laborious forks. Many will have in mind the well-known DAO assault and the way the Ethereum Network determined to laborious fork. The state of affairs used to be an identical in that the hacker discovered a loophole within the code that allowed them to assemble an excessively massive sum of Ether. The laborious fork necessarily rolled again the blockchain and pushed aside its immutability so as to get again the misplaced finances.
Hopefully, for the sake of the Ethereum neighborhood, an answer will also be discovered that received’t require a troublesome fork.

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25 comments

  1. Rock on Heidi!

  2. Woow glasses 😄

  3. You are late on those subjects !! ^^

  4. Nazaré! 🙂

  5. Bitcoin Core has become almost unusable, and the Bitcoin Core fanatics are just denying reality, blames everyone else and screams "Bitcoin is king!" until they are seen as lunatics. Is it even possible to sell Bitcoin now with all those transactions waiting to be confirmed? But it's just "market manipulation" when people are fleeing the unsustainable Bitcoin core, and Bitcoin will go to $100 000 and always be king and yada yada.

    The Bitcoin Cash people are yet again gobbling up their coins, and there will only be more support for it. But this will also make people go further and look at Dash and later on IOTA.

    But the Bitchcoin Core bitches will continue to scream about their useless blockchain is the only true one and it's best because it's so damn useless. But don't worry! They will make it even more useless, and then the Lightning Network will somehow make people want the totally useless Bitcoin… Instead of directly use Dash and IOTA both for transactions and store of value.

    Falkvinge explained the Core problem very well: https://www.bitcoincash.org/letter-from-the-ceo.pdf

    We have seen nothing yet: The shit is just waiting to attack the fan again.

  6. bitcoin cash will crash. enjoy the rise while it last.

  7. Always appreciative of your presentations. Seems so effortless and a great smile. Keep it up!
    Ps: what country is that in the background?

  8. Wait until satoshi dumps his million bcash on the market! GAME OVER

  9. Replay protection is needed during hard forks and it’s quite easy to implement it. What you lose, however, is the compatibility between the two chains and hence, new software is required for syncing the blockchains. It’s no big deal.

  10. How can you NOT like what you see.. and HEAR.. great information with context for the Noob/Layperson… always a great backdrop… and a beautiful Hostess.. Bravo!! Keep up the great work!!

  11. Hot 4 Teacher !!!

  12. Peace Love & Crypto

    Love the glasses.

  13. Nazaré, Portugal!

  14. Sorry, but the more I hear about crypto the less I want to be an investor. Like the early days of the internet, once your grandmother can use it with ease it will become mainstream.

  15. Hey crypto tips what is your prediction on Bitcoin ripple & eth I had invested most of my Money with this currency & I follow https://t.me/btctradingclub who provide crypto news signal & crypto trading . They had storng hold on currency with bundle on knowledge

  16. Fewer ETH Woo Hoo !

  17. an you are soo

  18. You’re a bit late.

  19. Make a video about ripple pls

  20. CRYPTO D CASTILLO!

    Love your Channel you are on fire 🔥 keep it up 👍 I look forward to live streams in the near future 😆

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  22. WERY THANKS AGAİNN

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  24. This is Nazare?

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