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We will know within two weeks if miners move to btc1 as planned. Kind of hard to miss that much hash power switching over to a different client.
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Question guys.
What are the steps that I need to aware if I am using Trezor across different laptops/PCs. I am not at home half of the time and it would be good if a family member can operate trezor on their laptop if needed.
You can restore your seed using advanced recovery to a second Trezor. You keep one, family has the other. Both have access to same accounts. |
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July 21 to July 29 cards are on the table.
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July 21 is a critical date for the future of bitcoin. That is when 86% of miners who have already signaled support for SegWit2x (by putting NYA in the coinbase) are supposed to switch their mining nodes to btc1 software. It will be easy enough to see if they do at bitnodes or Coindance. Maybe we should have a poll or a bet that describes what percentage is doing what, while outlining various possibilities including some possibilities that are not anticipated? Assuming the software is released before July 21. Then whic days are relevant to measurement? July 21? July 22? July 23? It is not all relevant in terms of one specific date is it? At some time around the end of July we would be able to verify whether segwit is locked in? but we could be left in a state of uncertainty regarding who is signaling what and how the math plays out, and which BIPs are triggered? The Chinese miners expect the NYA (New York Agreement) to be honored. All you have to do is read Bitmain's published articles to see the roadmap. Bitmain wants miners to switch from Bitcoin Core to the new btc1 client which will enforce SegWit2X. If 80% of miners switch over starting on July 21 as they have promised there will be no hard fork. The deadline for switch over is July 29. Bitmain has also promised if UASF gains any traction they have a hard fork planned to wipe out UASF. |
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Experts are saying that there's a pretty high chance for a split. Some people say that a split will move Bitcoin's value down but I don't think that's what will happen. I think post-split things will be much clearer and the decentralized Bitcoin will have more room to grow
If over 80% of miners are running the btc1 client by August 1 there will be no split. Control of bitcoin will transfer from Core to the developers behind btc1 however. Here is a guide to the action. Wow, this situation is so confuse... Too many "Bips" and different Bitcoins. Seems it will be impossible to avoid a hard-fork, no? Because there are those Bitcoin ABC, 148 Bitcoin, NewPow Bitcoin, Legacy Bitcoin... I think it's too early to have a prediction, maybe in 2-3 weeks we can have a more accurated prediction about it. The Chinese bitcoin miners are in favor of the NYA. If 80% of miners start mining using btc1 before end of July we should have an orderly transfer of power. We will see how it goes on July 21 when miners are supposed to switch from Core to btc1. NYA is the carrot; Bitmain also has a stick in the form of a UAHF to wipe out any BIP148 chain. Own your own private keys and don't transact after July 31 until the dust settles. |
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July 21 is a critical date for the future of bitcoin. That is when 86% of miners who have already signaled support for SegWit2x (by putting NYA in the coinbase) are supposed to switch their mining nodes to btc1 software. It will be easy enough to see if they do at bitnodes or Coindance. |
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Experts are saying that there's a pretty high chance for a split. Some people say that a split will move Bitcoin's value down but I don't think that's what will happen. I think post-split things will be much clearer and the decentralized Bitcoin will have more room to grow
If over 80% of miners are running the btc1 client by August 1 there will be no split. Control of bitcoin will transfer from Core to the developers behind btc1 however. Here is a guide to the action. |
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Based on public announcements over 80% of bitcoin miners will have switched to the btc1 client (Segwit2x) and 148 will not happen. It will be interesting to see what the miners really do over the next few weeks. Since Jihan Wu supports btc1 and either owns or indirectly has control over the majority of bitcoin mining power this has to be taken seriously. |
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Shipping from US or EU please?
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A split will be ugly. Everyone who is reasonable is warning not to make transactions after Aug 1 until the dust settles. If you need to sell bitcoin for expenses do it now because price will most likely drop as Aug 1 gets closer, people moving to cash for safety. 80% of miners will need to be running Garzik's btc1 client for SegWit2x to activate, if that happens control of bitcoin will be taken from Core. |
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Hi everyone,
i got a question.
At the moment i store my Bitcoins on Paper Wallets. But now August 1st is coming, should i put the coins on a wallet on my pc?
I am asking because if the Blockchain splits i guess my coins (if on a wallet on pc) go to both chains.
But what will happen to my coins on the paper wallet?
Thanks in advance
If you have enough bitcoin to matter you will have more options if you use a Trezor or Ledger Nano S. Both companies are setting up servers so you can spend on more than one chain if there is a split. |
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Why not start an auction and let the market decide the price? You can always set a reserve.
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If you use Ichimoku Cloud for same chart price is flat but predicting a down trend soon; confirmed if price goes below the Cloud:  Changing time to one day IC would already have had you exit a long. |
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New member here, but i have a question that i need some help with. Im looking to get into bitcoin on the enxt pullback around when the RSI gets to about 25-30 which should put the price around 1900-2000 and plan on using bitstamp. My question is this : Im aware that buying bitcoin on an exchange is risky due to hacks and although bitstamp keeps 98% of the funds offline, i still want to put in my own cold storage wallet. Any suggestions which wallets? Also how would i then send it back to the exchange? Im guessing through the bitcoin physical address given to you?
Basically what is the best way to go about this? I want to do it mainly as a 2-3 month short term investment and and sell it around 3k hopefully for a 50% gain and am looking to put in about 40,000 in it.
Coindesk has a series of articles under Bitcoin 101 that can get you up to speed in an evening. There may be a network fork in the weeks after August 1, may not. You probably want to own your bitcoin before August 1 and move them to a hardware wallet for safe keeping. I think every manufacturer except Trezor is out of stock, consider buying one, read the user manual. Between the articles and Trezor manual you should get a jump start. |
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Considering we have to worry about a fork in August you should keep those bitcoin in cold storage where you control the private keys. Wait until the dust settles before investing.
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Digital Bitbox is cool (I have one) but Trezor is most versatile. Also the only one you can buy without a wait right now. Trezor devs have been through fork scares before and will update the firmware if needed. You can expect Ledger and DBB to do the same. DBB is sold by a Core developer.
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Good morning. Price found support at the Cloud and broke an upper trend line. Looking better but the conversion line (blue) has not crossed over the base line (red) yet. Buy signal would be both conversion line and price above the base line.  |
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I am in US (not NY) and Hashnest deposits and withdrawals working fine.
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Bitcoin price is trading above $2500 again with RSI trending up. You can see on the 6 hour chart how price is bouncing off the 200 MA and flirting with the third Fibonacci fan. Waiting to see if price can advance past the critical $2600 level. The first Fibonacci fan hints at a drop to $2000 if the 200 MA does not hold.  |
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You should not use an outdated version of Electrum. You will have problems sending and fee estimates will be too low. Newest is 2.8.3 at Electrum.org. Electrum explains how to use two computers (one always offline) for cold storage here. Almost no one bothers with this setup anymore since hardware wallets are more secure and inexpensive. Get a hardware wallet. |
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