Afraid of August One?

[Reid]

I think I have asked something about this before at some thread.
Then, i am answered.
He says we dont need to be scared of the fork. It will go back to normal and we dont need to sell our bitcoins for precaution.
Just keeping your bitcoin in an offline wallet then everything will be alright.
Sorry I cant find the post to quote him. So I just summarized it.

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[OmegaStarScream]

We are already in July and August 1 is coming...the day when Segwit would start signalling for all and what will happen after this date is something many fear of. Will there be a split and what will happen on the split?

I have already read some assurance that at the current rate things are doing, the possibility for a split is getting remote. Maybe the overarching interest of all stakeholders has already dawned to many.

This is very simple thing , you should think that lot of amount of the Bitcoin are hold by the owner of the Bitcoin , so what will happ if the network of the blockchain will face problem , I mean we don't need to worry much about this , and instead of this some preacuation should be taken by us .
1) Before 1 August transfer your all Bitcoin at the blockchain wallet .
2) If you have Bitcoin then transfer only Bitcoin to your address of blockchain also  .
3) don't make transaction like things from any of the Bitcoin wallet .
4) Make backup of your wallet of the blockchain before the 1 August  .
If you will do these things , then I don't think that you need to worry anything ways , because you are in official ways and platform and nothing is problem in the official wallets

when you say blockchain wallet, do you mean the website blockchain.info ?

He meant blockchain.info indeed but I personally wouldn't recommend doing so. Go with something like Electrum where you can easily export your private keys and you are in full control at any time, that's not the case for blockchain wallet.

[inthelongrun]

If you tried to click on the link just below our Total time logged in the upper left hand corner of the screen and read it, you would really think that the upcoming date will give us a split. That may not be troublesome but it might take some time for the majority party to recover and settle everything.

[MarkReuter]

This dispute is boiling down to a confrontation on August 1st, but right now the exact outcome is unknown because the outcome will depend on the amount and kind of support each side has

[azguard]

Of course there is a big panic among the users regarding the august one. Though people haven't thought of it in such a extreme manner. Now theymos too have given some notification to the users to be on the safe side with limiting the transactions during days close to august one.

Read his lines and he is right. Maybe we need to be carefull cuz no one 100% sure what will be at the end. We can only guess or speculate but it can be bad sides from this to that no one didnt think about it. It is good that some at least noted this and share to everyone at least as his/hers opinion.

Panic will be bigger the closer we are to this date this is normal but effect can be very bad if thing not go as planed.

[btcwonder1]

Afraid? Not. Excited? Absolutely yes. I mean come on, the day that we have been discussing for years is finally knocking on the door. Why should we be afraid of it?

[Soots]

not realy but if this chain split happening my funds already safe i put in some of the coins and some in my coldwallet.

[webmastax]

i'm not afraid but i'm so excited to see what's going to happens.. if there is a serious dump i'm preapared with some money to buy bitcoin.
if it increase everybody will be celebrating

[mriansa]

I think it will be Historical day, please prepare your ticket and suit, just waiting for the Segwit comes 

[ximply]

I think the lowest rate of Bitcoin before it pump is $2300

[tavr]

I think the lowest rate of Bitcoin before it pump is $2300

Somebody says it will be $1300

[einjelkoh]

nuh for me this will be great historical event for Bitcoin. I think after this will be skyrocket. hoping so!

[faimloup]

Is there a straightforward blog/article about what happens technically in regards to a fork/adoption of SEGWIT on Aug 1st?

And is the best approach to put Bitcoin in an offline wallet? If it splits how does this offline bitcoin become NewBitcoin or Bitcoin Classic?

[akuser]

I think it will be a good day to buy up Bitcoin and also celebrate because we will be moving forward with better technology. Bitcoin is going to grow up and progress on August 1st.

I was new to bitcoin a month ago, with this situation I was worried about my trade. Is this reasonable?
Are all going back to normal?  

[South Park]

We should not be  afraid on that day.It's a updating.

The concept is to update but since two groups wants to have a good position for the update so they are pushing two difference agenda.  Thinks will not workout if both of them wont compromise.  There should only be one bitcoin and should not split otherwise we will all end up loosing.

The miner dont want to loose their investment in equipment that is why they just want to just increase the block size to speed up the process. While the developer wants to take out from the miners some of the work and give it to another company who is using a Lightning Network to handle some of the processing which can be taken out of the blockchain.  This will also speed up the process but the miners work will be reduced.

So which one should happen and who is correct and in the right position? This will affect bitcoin definitely whatever happen.

Nothing will happen. In the end, nobody wants to lose their investment in bitcoin. If bitcoin will split all lose their money. I'm not going to sell their coins and believe that after 1 August we will see an updated bitcoin and the price of coins will continue to grow.

The problem with that is that you are thinking as if people behave in a rational way and will take their best decisions based in their economic interests, but that theory has proven to be incorrect over and over again, so the possibility of a split is real even if it does not make much sense.

[warrior333]

There can not be such that people involved in the currency have made irrational actions. I don't believe it. Why should they? I'm sure that there will be no split. Most people think like me so the price fluctuates but within normal limits. We do not see a large drop.

[faimloup]

Is there a straightforward blog/article about what happens technically in regards to a fork/adoption of SEGWIT on Aug 1st?

And is the best approach to put Bitcoin in an offline wallet? If it splits how does this offline bitcoin become NewBitcoin or Bitcoin Classic?

OK I have answered my own question, a link at the top of the forum's home page provides a great guide to the forthcoming 'event'.

https://bitcointalk.org/index.php?topic=2012799.0

[cramcram21]

I don't think afraid is the right word to be used to what I am feeling to it,
Maybe just confused don't really know what would happen to bitcoin after that would the price be dump or would it pump the price.

[Rinder]

Well the market doesnt see that way, atleast the last change over the bitcoin price does tell u that all worryed with the road bitcoin will follow ahead, even knowing it has potencial but the solution may damage more bitcoin then really help.

[South Park]

Afraid? Not. Excited? Absolutely yes. I mean come on, the day that we have been discussing for years is finally knocking on the door. Why should we be afraid of it?

Because many things could go wrong, and some people have some serious money invested in bitcoin, if they wait for too long they may be unable to withdraw their money, if they try to withdraw their money then the price may crash as many other people do the same, it is not a simple situation we are facing.