So what happens to Bitcoin on August 1st?

nothing. BTC will get a software upgrade called segwit before then and skyrocket in value though.

5k

>>2723461
Well the basic story is that a majority of the bitcoin nodes will try to force the miners to implement a protocol upgrade proposal called BIP148. They will try to do this to end the stalemate between the various parties in the block size debate which has stalled the evolution of bitcoin over the last year or so. Transaction fees are very high right now because of this. This may play out in a couple of different ways but basically your main concern should be a possible chain split after a fork. A chain split will result in two different tokens. This happened to Ethereum last year and it has happened to other cryptocurrencies too.
If you don’t control your keys during a chain split three main things may happen:
Your bitcoin balance will stay the same and you will be able to use that bitcoin token as usual.
Your bitcoin balance will be zero over night since your wallet chose the wrong chain
Your wallet provider will offer you a chance to keep your token balance on both chains or to choose one of them
If you do control your keys you will have the same balance on both chains and you will be able to trade one for the other, effectively increasing your total bitcoin balance. In the case of a chain split there’s a big chance that bitcoin will lose its value however. Either way, you’re better off knowing what you’re doing and in bitcoin there’s no way of faking that. Now go on and educate yourself! Google BIP148, Segregated Witness, cold storage, soft forks and hard forks! It’s your donkey that’s on the line!

source: https://hackernoon.com/casual-bitcoin-users-you-need-to-know-about-aug-1st-d568e07418cb

100k

>>2723500
here's a better article

xexr.com
/scaling-bitcoin-block-size-debate/

>>2723461
by the way, best to keep your btc in your own wallet so if it forks you have that amount on both chains.. if you leave it on the exchange your more than likely not going to get the forked coins (big miners like the idea that will make the fork happen, which translates to the ones with big money while the community itself will stay with the normal BTC)

>>2723514
I just bought 100k btc

>>2723571
Nice just bought 100K

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>>2723500
Been looking for this summary, thanks anon, have a slutty anime.

>>2723461
wew
prostitutes are getting updates

>>2723500
w...why do people still talk about this like it's stil a thing?

there is no more UASF. It's dead. Segwit2x is the push now.

Bitcoin will moon with segwit, and once it's launched, it will crash until the hardfork about a month later.

>>2723461
This is a tramp stamp I approve of

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>>2723500
>Your bitcoin balance will be zero over night since your wallet chose the wrong chain

How to avoid this??

>>2723532

Or you know, just convert to REAL, AMERICAN dollars.

>>2723803
I was wondering the same thing.

>>2723919
do you have access to your private key? if so, you are fine. if not, you are not fine.

>>2723919
If you own the private key for your wallet you can install your wallet on the wallet app for both of the forked chains, thereby granting you two wallets with equal amounts of each forked version of btc.

If you don't own your own private key, whoever owns your private key will decide which currency they want, and which they will allow you to have. It's unlikely you'll get both coins in that scenario, though, FYI.

huge fuck noob here

am i safe with blockchain.info?

WAT DO

>>2724321
why dont you go find out yourself the people here are just like you. fucking retarded spoon hungry tit babys

>>2723941
>>2723983
how to find this info / what wallets allow for this?

Thank in advance

>>2724372
any wallet that is on your own hardware / paper wallet is fine. the point is to get it off exchanges and 3rd party sites you don't control.

>>2724382
Yes I understand, thank you for confirming what I suspect.

>>2723461
10K

>>2723500
>Well the basic story is that a majority of the bitcoin nodes will try to force the miners to implement a protocol upgrade proposal called BIP148.

nah. bitcoin core IS the most popular client by far. nodes can be faked by a few dozen raspberry pis.
core, like miners, support segwit2x. it's the protocol that will come to life, giving life to lightning networks and whatnot.

most people pushing the UASF are ethereum shills tryna ruin Bitcoin, hoping it will make the marketcap transfer

but they have literally nothing on their hands other than a few dozen raspberry pis

>>2723500
there literally cannot be a fork unless UASF shills decide to implement a different mining algorithm on their split. because over 80% of miners are signalling intention to switch to segwit2x
nodes are easy to fake, computation power is impossible

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Won't the process of everyone withdrawing their bitcoins into local wallets a few days before the seg to protect against a fork just cause them to crash regardless of the sucess of the seg itself?

>>2725540
major exchanges (like bitfinex) have already cleared up that people are going to keep all coins in case of a fork.
coinbase will obviously do the same thing

but people withdrawing their coins would just eliminate supply, so it couldn't cause a 'crash' in price

thats a man

>>2725584

Can you link to any sources of coinbase saying they'll let people keep everything if there's a fork.

Rich Noob here, i want to buy bitcoins but i have no idea how it works. Is it going to come down to 600 again or is it going to blow the roof in December near future. Buy or wait ?

should i keep my bitcoins in electrum wallet or a node wallet?

will i have access to both chains if i keep them in electrum?

>>2725615
Buy in before Aug 1st, obviously.

>>2725622
Why ?

>>2725630
I wouldn't want to miss out the mooning after a potential smooth upgrade.

Is an electrum wallet legit for Aug 1st?

>>2725634
So buy 1 BTC ? or more i find it dificult to invest ij something that i know very little about.

>>2725647
Then inform yourself ffs.

>>2725635
If you get private key to your fucking hands, pussy

>>2725659
I know about BTC. But i don't understand SegWit split. What does it do ? And why is it relevant ?

>>2724382
would electrum fit that description?

Should I export the private key or am I fine with my eleven code words?

>>2723461
BITCOIN Q AND A - LAST AND NEW Q`S:
https://bitcointalk.org/?topic=2007635

>>2723500
>Your bitcoin balance will be zero over night since your wallet chose the wrong chain
so everyone will dump right?

>>2723803
biz is retards that parrot month old news

>>2725693
Google it you tit-sucking nigger.

Jesus Christ, you tools literally have all the information in the world at the tip of your fingers and you'd rather beg for rumor mill bullshitting through a grape vine than find a legitimate source for your investing decisions?

You deserve to lose your money.

>>2725635
>>2725696
Do they give you a private key when you set up a wallet?

This isn't hard. It's crypto 101. I've never used electrum, but they should be able to tell you in their faq if you have access to your private key. I'm not going to go to that effort because its not my money and idgaf if you lose yours. Quit being such a babby shitty bitch and learn something for yourself, fucking Christ.

Best pump group around, their twitter page:

https://twitter.com/interstellar909

>>2725612
not from coibase, but come on, they're the most reliable wallet (most people use them as wallet) since the birth of BTC, they have both the technical knowledge, and the strong incentives to not fuck with their clients

bitfinex:

https://www.bitfinex.com/bitcoin_hardfork_statement
https://www.bitfinex.com/posts/195

but these were made before the miners agreed on segwit2x

>>2723461
fun fact: that tramp stamp wallet's received 102,7 BTC so far
https://blockchain.info/address/17jJ1WAJwqizCNLC6p2KadeRqPYhVispzt

>>2726782
Duuuuude that's fucking genius if true.

That's over a quarter mil deposited on dat ass

>>2727459
I haven't checked particular tx's
could've been a cheap ass years ago when BTC was cheap
unlike women, BTC gains value over time

>>2725584
Coinbase already said they would honor ONLY the perceived new Bitcoin chain and the other chain would not be available to you...

>>2725534
And honestly, if you change the proof of work algorithm you don't have bitcoin anymore. You have a shitty altcoin that would crash and burn if it kept playing by the rules.

>>2723803
>Bitcoin will moon with segwit, and once it's launched, it will moon even harder
ftfy

anyone not all-in BTC later this month is insane

>>2725615
Get in before August 1st. Support for segwit2x is around 90%+ and would be higher if one other pool implemented signaling for it. You can pull off a hard fork with 75%+ just fine. Once you get the new protocol in place tx fees will drop off to almost nothing for several months and the network will grow substantially.

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This is a ploy by the chinks to get rich. Most are signaling but I doubt they go through with it. Forking the only stable coin is fucking madness. Bitcoin will drop in price on the last day of July, chinks will buy it all up and fork won't happen.

Screencap this.

>>2725788
Was wondering this too, is the seed enough?

>>2728019
The crypto markets are incredibly short-sighted, I think the time to get in to Btc if you aren't already is right now. By the time it's right before August people will have missed a lot of the gains.

>>2726488
the have to litterally write the same thing they write here without even performing captcha and waiting for reply and not mentioning the trustworth og google search over /biz/

>>2723461
I heard the USAF are going to bomb it!

Or something like that...

>>2728114
BTC actually has users, tho, lowered fees and faster transactions should generate additional moonage

how do i get the private key from coinbase

Shouldn't segwit lock in already? Aren't we at 85% support when 80% was required?

>>2728437
You don't as far as I know. Just get a wallet.

>>2728456
(((coinbase)))