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EMERGENCY CHAIN FORK !!!!! dont move your coins

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Hey Gavin... what is this??

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strStatusBar = "URGENT: chain fork, stop mining on version 0.8"

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There is a developing situation in which a bug in the Bitcoin client software is causing a blockchain fork.  Those using Bitcoin-Qt v0.8 should not trust the transactions as being non-reversible even if the client shows the transaction having received six or more confirmations.

This latest on the situation may be monitored on the #bitcoin-dev IRC channel.

[The tl:dr on the bug … the v0.8 client software allows a larger transaction that the previous releases did not.  As a result v0.7 clients aren’t accepting those blocks.]
From MtGox: "UPDATE: Miners are encouraged to downgrade to Bitcoin 0.7.2 - at least temporarily - to push the correct blockchain forward. Once the correct blockchain is longer than the 0.8-only blockchain, we will be able to resume bitcoin transactions."
Critical: Current Bitcoin network fork. Action needed by mining pools. Merchants should hold transactions.

Posted by Pieter Wuille
#1 post

--- Quote ---Hello everyone,

there is an emergency right now: the block chain has split between 0.7+earlier and 0.8 nodes. I'll explain the reasons in a minute, but this is what you need to know now:

After a discussion on #bitcoin-dev, it seems trying to get everyone on the old chain again is the least risky solution.
-    If you're a miner, please do not mine on 0.8 code. Stop, or switch back to 0.7. BTCGuild is switching to 0.7, so the old chain will get a majority hash rate soon.
-    If you're a merchant: please stop processing transactions until the chains converge.
-    If you're on 0.7 or older, the client will likely tell you that you need to upgrade. Do not follow this advise - the warning should go away as soon as the old chain catches up.
-    If you are not a merchant or a miner, don't worry.
--- End quote ---

#2 post

--- Quote ---And now a more elaborate explanation:

0.7 and older nodes use BDB for storing the blockchain databases. It seems this database has a limit on the size of the modification it can make atomically to the database. With the larger blocks of the past days, it seems to have triggered the limit. The result is that 0.7 (by default, it can be tweaked manually) will not accept "too large" blocks (we don't yet know what exactly causes it, but it is very likely caused by many transactions in the block). Specifically, block
000000000000015c50b165fcdd33556f8b44800c5298943ac70b112df480c023 (height=225430) with >1700 transactions.

However. 0.8 (which uses a different database system) has no such limit, and happily accepts the block. As the majority of the hash power was on 0.8, the longest chain ended up using this block, which is not accepted by older nodes.

The solution is to (for now) go back to the old chain, which has block 00000000000001c108384350f74090433e7fcf79a606b8e797f065b130575932 at height 225430.
--- End quote ---

 If you are not a merchant or a miner, don't worry.

Okay, I'm Not either. I just got started, and have only accumulated fractional amounts of BTC. But-
They Are in a wallet created with v.0.8...

Is my balance Safe?

Will I continue to be safely able to use this wallet?

Should I generate another using the previous version and move my funds?

Switch to something different altogether like InstaWallet?

Is trying to move my funds Right Now exactly the wrong thing to do?

How do I protect myself from this?


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