Bitcoin Forum

How do you prepare, on august 1. When the sigwit is ready...

Well the only thing I think we can do is not make any transactions on August 1. For everything else, we can just watch and see hot it pans out.
Hopefully it will work out just fine in the end.

Move your coins to a wallet from which you control and can export your private keys.  Ideally one that has said they will be integrating support for Bitcoin Cash (BCC), as it looks like that will be a somewhat relevant split, at least for a little while - but if you're not in a rush to move your BCC, it doesn't matter.

FTFY.

SegWit looks like it's going to happen via BIP 91 rather than UASF, so August 1st is not the relevant date for that.  Currently I'd say that BCC is the biggest chain split that will happen on August 1st, even if it doesn't end up being that significant.

They say that you have to moved your coins to a wallet like electrum or core because you have control of the private keys. I hope you have done that already because if not,  there are chances that you might lost your coin if there is a split in Aug 1. I'm also not doing anything like trading or withdrawing and I will just sit and relax and wait till the dust has settled before even trying to moved my coins again in a trading platform.

Don't be afraid bro , nothing bad is going to happen . If you have already created a wallet through bitaddres ( paper wallet more exactly ) you are completed in safe , also if you have account on blockchain , or another wallet , get all your private keys

The best thing would be not to hold any coins until that date because if Bitcoin Cash comes into existence, then there will be a lot of confusion as the holders will equally get the amount of BCC they have in BTC. Or they should move their coins to paper wallets or should just keep their private keys and delete their wallets from online third parties.

I have loaded my bitcoin addresses with bitcoins to get any free coin after hardfork on august 1. I will sell those bitcoin clones whenever I can  ;)
Also I have kept them in my paper wallet to not get into any trouble during network split, everyone should hold their bitcoin in addresses which are under their control.

I am trying to find more information about  1 August. i also read some threads that discuss about this. because this first time for me and maybe my preparation is to move bitcoin to offline wallet to be more secure and of course private key can be accessed. as long as the process happens I will not make any transaction until the condition is possible. please correct me if i'm wrong

You actually have this thread, that shows up in the forum news, and that has some very good information on that subject. Right now, I'm following those news, and will act based on them.

Here is the thread in case you didn't notice it on the forum news (right above the menu bar of this forum)
https://bitcointalk.org/index.php?topic=2017191.0

It will be fine.  There is no way that market investors/speculators will allow a total collapse.  My take is, the very few with the most money invested will influence a positive outcome.  I think there will be a little worry before the deadline, but the rebound afterward will greater than what happened earlier this year.

We know do not trade bitcoin on August 1st, withdraw bitcoin out of exchanges and export its private keys in order to secure your bitcoin and you may get free bcc. If bitcoin price fall, then other altcoins will likely to drop as well, just like happened before. So, prepare for another dip to buy some cheaper bitcoin and altcoins if you want to, sell now and wait for it.

I think so, and I am waiting and ready to buy :)

Where are you storing your bitcoin or altcoins for that matter? That will also affect. Store them in a safe place, hold them, and avoid using them. Transactions with bitcoin should be highly avoided. Store them in wallets that will support both forks if in case there is a split that happens.

But I heared Bittrex will support user receive Bitcoin Cash if have UAHF split chain Bitcoin network. And if Bittrex support that, why not choose holding Bitcoin on Bittrex exchange and waiting the price of crypto crash all + receive Bitcoin Cash, not need sending when active SegWit2x.

I stored most of my bitcoins where I have the control of private keys.

And if ever I will have two coins with split, I will be selling the other chains and the most supported will be kept on hold.

But furthermore if I see people that suggests don't use the other coin, I won't be using it.

That's the only thing I'm I'm worried about currently. I don't care about any trades, transactions and further investments if any whether they are very profitable or not. I'm just gonna take care of my money which I'm currently holding in the form of bitcoin. No silent movement just steady like a tree.

I don't know if I'm doing some preparation or the same. I don't have something to do with my bitcoin/BCC on that time. I will just keep on holding and will get some signal from the experts on what chain is going to be supported by the community. And if August 1 is done, I will probably sell the unsupported one while there's value.

I'm just gonna sit my bitcoin in my Electrum wallet and see how everything pans out. I will not do any transaction the last 12 hours before Aug 1. Also I will emptied my funds in all of my exchange and transfer it to my wallet where I can have the controls of my private key. Stay calm and watch everything at the background.


Yes. If I see that the market has fallen then probably I will stash and accumulate more of bitcoin or altcoin. So we need to be very vigilant on that date regardless of our timezone.

i think people are still confusing what to do with their bitcoin, they are mostly holding bitcoin in  online wallet that is easy to access and create, but most of the people still do not have any idea what to do with their bitcoin and how to create disktop wallet where they can keep safe their bitcoins.

Me either I'm not going to do any transactions by that time as there's a need to be secure or there is something that will happen to our bitcoins. I already pulled out my funds on the exchange that I'm using and right now yeah we just need to stay calm and let everything happen according to what it should be.

Wisest thing to do is to move your coins into your own local wallet which gives you your own private keys and see how it all works out afterwards, if BitcoinCash does launch then make sure you split your coins before making any transactions.

In general, there is nothing complicated, and personal purses should be a long time. The main thing is not to leave exchangers and other exchanges in their coins. And also it will be very right not to conduct any transactions during this period and then you will save all your coins.