Happy New Year, Bitcoiners! Your Latest Weekly Bits Is Here! - Coin Update

Happy New Year, Bitcoiners! Your Latest Weekly Bits Is Here!

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Happy New Year, Bitcoiners! Your Latest Weekly Bits Is Here!

Bitcoin's underlying consensus layer has gone two years without a hard or soft fork change — its longest such streak in history. On this episode of Weekly Bits, Peter Chawaga is joined by Bitcoin Magazine Technical Editor Aaron van Wirdum to discuss his latest cover story on protocol changes that have the potential to end that streak in 2020.

2020 and Beyond: Bitcoin's Potential Protocol Upgrades
by Aaron van Wirdum

Bitcoin's consensus layer has remained unchanged for over two years now. Since Segregated Witness (SegWit), which activated in August 2017, no hard fork or soft fork protocol upgrades have been deployed at all, marking Bitcoin's longest stretch without consensus forks so far.

But this stretch may soon come to an end: several backward-compatible soft forks are currently in development. Optimistically, some of them may go live in 2020 — if they gather sufficient support from the Bitcoin ecosystem.

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Bitcoin Fundamentals
Bitcoin has kicked off the new year with a healthy ascent toward the $8,000 range, and is now testing the low $8,000's for support and resistance. 
The Bitcoin hash rate has hit fresh all-time highs once again, as the price has ascended above $8,000 for the first time in 2020. 

Tweet of the Week
Earlier this week, cryptographer and polymath Nick Szabo graced the Twittersphere with a fresh reminder about the intrinsic values of bitcoin, pointing to the fact that one cannot truly own any physical assets without the help of a powerful third party. 

Bitcoin fixes this. 

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