Bitcoin Forum

Can one of the Bitcoin exchange owners deny or confirm that people are moving their coins out of exchanges in preparation for the 1st of Aug 2017? Will we see bigger price drops because of decreased trade volumes on the exchanges, building up to the 1st of Aug 2017? How are exchanges handling the whole issue to educate it's customers? The uncertainty will cause a lot of confusion and people might make wrong decisions.

I would have hoped to see more educational material and notices from these services to assist their users or are they playing for time to keep people from moving their coins  ??? ???

I'm one of the noobs and I too would love to hear a knowledgeable exchange speak up. I'm not in for more than I can lose but some people have a lot in play and would probably like some news.
I got in early enough for the ride up but the downturn caught me while on vacation out of touch with the world. For my part I tried to stop the bleeding by pulling mostly out of BTC and back to USD, ETH, and LTC, but all e-currencies have fallen so there's no safe haven there at this point.

I don't even understand what would happen if a split were to occur. Hoping to learn more this weekend. THere's so many opinions on the future that a noob like me gets lost in the BS

I think it is too early for people to actually panic and start moving their coins. We will see a lot more action during the last week of July.
Expect transaction fees and network congestion to increase at that time.

If you look at the top left above home/help/search bar you will see a link to a post  theymos made it have most of the info you need to be safe . Also you do not just need to move your BTC out of exchange but also out of any wallet that you do not have the control over your private key .But as above said it is too early to panic move your coins .

You can monitor the bitfinex cold storage address, 3D2oetdNuZUqQHPJmcMDDHYoqkyNVsFk9r to see if they are drawing down on BTC held in this address.

I also believe that 3Nxwenay9Z8Lc9JBiywExpnEFiLp6Afp8v is (one of the) cold storage address for xapo.

To get a more broad measure of coins held at exchanges, you can monitor the amount of BTC being held in multisig addresses.

Omg if anyone hangs onto bitcoins in an exchange ever they aren't exactly educating themselves very well. This would be the single worst time to hold in an exchange though, of course.

I am constantly watching the value of Bitcoin, it is gradually lowering down!
Bitcoin holders defenitely taking out their funds from online exchanger wallets and keeping offline.

I want to know, if someone not able to transfer his coins from exchanges or online wallets to offline wallet, what happens for those coins if the are there in exchange wallets after 1st August. Are they still safe there or any risk?

There will be risks, and if the exchange sites are not ready, you might not get your coins, hence the most secure way is to control your own private keys, for example you can download a desktop wallet like Bitcoin Core or Electrum, whichever suits you.

Also, it is always advised not to keep large amount of your coins in exchanges as you do not have the private keys, so you DO NOT actually own them until you have access to your private keys.

Check here too: https://bitcoinmagazine.com/articles/bitcoin-beginners-guide-surviving-bip-148-uasf/

The thread by theymos is very useful as well, be sure to read it if you haven't!
Are you ready for Aug 1st? (https://bitcointalk.org/index.php?topic=2017191.0)

why not just buy altcoins on the exchange till the august the first is done if you are so concerned   ???U be able to switch back to bitcoin no problem right after

This is indeed a very crucial issue, i do believe that major exchanges should go ahead and send a newsletter regarding 1st Aug 2017.

There is an implementation of BTU against bitcoincore. BTU meaning bitcoin unlimited is an attempt to increase block size to facilitate the accommodation of more data in a block thereby increasing the transaction efficiency. It is obvious to have a depriciation in prices.

I have a query, Like i store my BTC within desktop wallet ( Electrum ).
Electrum provides passphrase and from that we can get private key, i noted down passphrase and private key on paper.
So now segwit implement ( as on 01st Aug. ). If there is chain split, will i get automatically both coins/address 148 BTC and Legacy BTC or what need to do ?

Anybody have good answer for my above query?
Thanks

As long as you don't do anything you have all the coins. Then you need to wait for Electrum to provide instructions on what to do to split your coins.

Electrum has a plan so it shouldn't be a problem.

If the exchange helps the user BTC fork
I am happy to put BTC on the exchange
 :-*

I tell the! I tell thee!!!
All hell breaketh loose on August the 1st of our lord Satoshi!
All hell upon cryptoland, all burn!
All coin drop maddness commenth theeeee!
You be warned I tell theeeE!!!!
The doomsday is comith upon us August 1sT!
I tell theeeee, keep your bitcoin safe in your wallet!

im assuming,rightly or wrongly that exchanges will shut up shop prior to the looming hard fork,if indeed it does occur,i for one would not leave anything in any exchange,,nothing  or nobody can be trusted in the wild wild west
"too big to fail"  ? yeah right,pull the other one
take all your hard earned currency out of all exchanges,,,just my opinion,,and my opinion is like an asshole,we all got one :)

That's what i am doing. I dont know why people are freaking out so much. The two possible outcomes are that the bitcoin will split and not split. Lets consider that its gonna split which i dont think is gonna happen, If you care so much about the bitcoins why not just sell them a week before the split and buy it back after the event has finished. Atleast we will be having the coins than to lose it completely. The only risk here is that the exchange might shut down which wont be happening because there are still other coins than bitcoin and people are gonna continue trading. So just chill and go on.

I think, exchangers will give out statements, how they will handle the happenings. Until this time, I have the most of my cryptos in own wallets. Also many altcoins could be part of changes. But I left a little part at exchangers.

I have never experienced a split but luckily I hold the priv keys for most of my BTC wallets as opposed too having coins in exchanges. I feel pretty prepared.

The real problem is people who is worried is worried because they want to benefit from the split . That is why they want there coins on a wallet that give them the control over there private keys . then if split happen they can get double there coins on each chain :) . buying alts  will not give them that benefit . I am just trying to explain. I believe that there is never gonna be split .