Chain split

[MyTipTopShop]

Can anyone give  a short answer about what the chain split is I have had a read around but still learning what everything means

I also have over £2,000 in bitcoin would like to know.

Thanks

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[HeRetiK]

Can anyone give  a short answer about what the chain split is I have had a read around but still learning what everything means

I also have over £2,000 in bitcoin would like to know.

Thanks

That means that there's a chance that there will be 2 or more versions of Bitcoin in case that miners can't reach a consensus on which version of the Bitcoin protocol to use in the future.

For you right now that means: If you have your coins in cold storage or a desktop wallet, don't worry. Just sit the critical timeframes out (ie. don't do transactions), worst case you'll have Bitcoins on both (or more) sides of the chain. If you have coins on exchanges or an online wallet, it may be a good idea to withdraw your money to a local wallet, or at least do some research on how your exchange / wallet provider has planned to handle a possible chain split.

Here's a more detailed article:
https://bitcoinmagazine.com/articles/countdown-segwit-these-are-dates-keep-eye/

I hope it helps.

[bikerleszno]

Can anyone give  a short answer about what the chain split is I have had a read around but still learning what everything means

I also have over £2,000 in bitcoin would like to know.

Thanks

That means that there's a chance that there will be 2 or more versions of Bitcoin in case that miners can't reach a consensus on which version of the Bitcoin protocol to use in the future.

For you right now that means: If you have your coins in cold storage or a desktop wallet, don't worry. Just sit the critical timeframes out (ie. don't do transactions), worst case you'll have Bitcoins on both (or more) sides of the chain. If you have coins on exchanges or an online wallet, it may be a good idea to withdraw your money to a local wallet, or at least do some research on how your exchange / wallet provider has planned to handle a possible chain split.

Here's a more detailed article:
https://bitcoinmagazine.com/articles/countdown-segwit-these-are-dates-keep-eye/

I hope it helps.

Here https://coin.dance/blocks we can see there will not be split because there is over 87% support for segwit right?

[NJB18]

Can anyone give  a short answer about what the chain split is I have had a read around but still learning what everything means

I also have over £2,000 in bitcoin would like to know.

Thanks

Check this out bro https://bitcointalk.org/index.php?topic=2017191.0

This is a post from our legendary administrator Theymos. Please read and click the link on the same post for a more detailed guide. It will bring you to another thread where questions were asked and answered by reliable people.

[thiec]

Can anyone give  a short answer about what the chain split is I have had a read around but still learning what everything means

I also have over £2,000 in bitcoin would like to know.

Thanks

That means that there's a chance that there will be 2 or more versions of Bitcoin in case that miners can't reach a consensus on which version of the Bitcoin protocol to use in the future.

For you right now that means: If you have your coins in cold storage or a desktop wallet, don't worry. Just sit the critical timeframes out (ie. don't do transactions), worst case you'll have Bitcoins on both (or more) sides of the chain. If you have coins on exchanges or an online wallet, it may be a good idea to withdraw your money to a local wallet, or at least do some research on how your exchange / wallet provider has planned to handle a possible chain split.

Here's a more detailed article:
https://bitcoinmagazine.com/articles/countdown-segwit-these-are-dates-keep-eye/

I hope it helps.

Here https://coin.dance/blocks we can see there will not be split because there is over 87% support for segwit right?

I do remember read some where that bitcoin dev dont support segwit, so there still have many possibility.

paper wallet work best if you know to to use it. If dont than move to realiabe wallet that you can hold its private key

[bikerleszno]

So situation will be clear after 1st august right? anyway there will be split or not btc value will explode after 1st august, am i right? Situation will be clear after this time.