Good morning Steemians!
I think all of you who are holding bitcoins are scared about this big event. Different situatuations appearing.
Might be two types of Bitcoin tokens, Activated & Non-activated, BTC 1 & BTC 2 with two blockchains.
We have to take safety measures because this coin split can be very risky. And if you are not careful you will lose funds. We don't know if Bitcoin will increase or decrease in value after this split.
Which are advices from experts?
- Convert your Bitcoins in USDT.
- Hold Bitcoins only if you can afford to lose because price can decrease drastically.
- If you are storing your bitcoins on an exchange, (Bittrex or Poloniex) or in a custodial wallet like Luno, Coinbase, Circle or Xapo, or on any other service that holds your private keys for you, you may or may not receive coins on both ends of the chain.
- That's why it is better to create offline wallets and send your bitcoin to these wallets where you can access your private keys.
You have to know that Altcoins are unaffected by this upgrade but you know that if Bitcoin will increase or decrease in price altcoins will also suffer.
Recommended offline wallets: Coinomi, Mycelium, Copay.
Another advice is to avoid transactions around 1st August.
Resteem this post so your friends will know what to do and maybe to read more about this protocol.
If you're new to Steemit, you may find these articles relevant:
wow, thanx for the info. I heard something about this before. It is kinda scary if you ask me...
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yes, I am also scared about that, but it will be fine :D
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I think I will convert my BITCOINs to steem power and enjoy this platform as it best :)
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yes, it s a good idea, good luck man!
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This is the exact reason why I'm not buying into BTC right now
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yes, it is risky but let's wait and see :D I also have few bitcoin hope will be back to $1000 to buy some lol
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Do you live on steemit bro ;) How do you make that flashy "upvote follow resteem" logo in the end of your post? Want it!
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it is easy bro. right click on image and it will download to you. it's a gif
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Wait, what ? BTC will split in 2 ? That's weird
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yes, it's scary...
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Thank you for this information. Need to be careful.
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yes, welcome!
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Change is always scary, especially when it involves anything financial.
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I agree with you David! Thanks for your comment!
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So we gonna get bitcoin and a bitcoin classic, like ether? Bitcoin will lose its reputation as digital gold.
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It won't loose reputation. It s a good protocol which will boost transactions speed
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The whole controversy would be more tolerable if everyone just released there positions on the matter. I.E. Wallets and Exchanges, realizing that you cant please everyone and just pick a side that matches your vision and principals
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if segwit gets activated on Bitcoin there won't be a split.
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nice
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