Coin Sheet - July 19, 2017

◤WHAT PEOPLE ARE TALKING ABOUT

In Segwhat News: BIP91 for SegWit2X just hit the necessary 80% miner support level.  BIP91 needs to maintain this same level of support for 336 blocks or roughly 56 hours in order to be activated on the Bitcoin network.

Still don't know what BIP91 is? Let Reddit user partialfriction explain.

"BIP stands for bitcoin improvement proposal. Each proposal changes a little bit of what the network (nodes /miners) is willing to accept in terms of transactions, or other forms of changes like changing activation at what rate of signaling (miners signal change readiness) . BIP91 reduces the signaling threshold for segwit activation, which means that a change in bitcoin that allows increased transactions per block can activate at a lower miner signaling rate (80%) vs the original activation rate (95%). This all means that miners may be now more accepting of segwit, leading to a decreased chance of a chain split, and less contention in the bitcoin space."

Got it? No? Your asking now these changes are agreed upon? Okay, here goes.

Changes are agreed upon through the signaling of miners or nodes. The signaling is simply some hardware running certain BIP code. If a miner runs the program, then the network recognizes this as signaling. Once you achieve some rate of signaling for approximately 2 days (the network measures in blocks rather than time), then it activates or "locks in",or in your terms , is agreed upon.

Check here for a live UASF BIP148 countdown.

In Ethereum: The Enterprise Ethereum Alliance (EEA) revealed a bunch of its newest members. These names include the likes of Mastercard and Scotia Bank. You can read their announcement here. This is some great exposure for the blockchain ecosystem, so don't !@$# us Ethereum! Want more reading on this? Here's an article from Coindesk.

Regulation Station: Korean lawmaker Park Yong-jin calls for consumer protection in cryptocurrency bill. Here's another article on this story from Bitcoin.com.


◤THINGS I LIKE

I like that 13 Japanese exchanges agreed to suspend Bitcoin service on August 1.

This article by Emin Gün Sirer and Phil Daian on why Bancor is flawed. TL;DR - Bancor fundamentaly ignores how markets work


◤MARKET SENTIMENT

Very bullish signalling today. BIP91 and EEA news are mostly responsible for this. The crowd sentiment seems to be very bullish on BTC and ETH, while some uncertainty lingers around LTC. I'm assuming the thought is that if there is no chain-split in BTC, LTC prices will fall. I think the verdict is still out on that.

What is this? Read here

What is this? Read here


◤QUOTE OF THE DAY

Life is 10% what happens to you and 90% how you react to it.
— Charles R. Swindoll

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