Afraid of August One?

[mihohil]

why I need to be scared? everyone is saying that price of cryptocurency's will grow on 1st August, so it's good for us. or you don't think so?

[South Park]

I am hoping bitcoin takes a HUGE dump before that so I can buy!

A huge dump is unlikely unless something catastrophic happens. Two days back, BTC went down to $1,800 from $2,500-2,600 levels. I don't think that it will fall any further. The rapid recovery made by BTC proves that a lot of demand still exists in the market.

You have been proven right the price has recovered to previous levels and I think this was nothing but a dump manufactured by the whales to get their hands on even more and cheap bitcoin sold by those that do not believe in bitcoin, the whales probably made a fortune this week.

[Lyancy001]

Honestly, I'm a little bit excited, and a little bit afraid. Because somehow, if Bitcoin will have an update I know there will be a better place for it in the world.

[boyptc]

I'm afraid as if the split will be continued then there will be a lot of bitcoin to choose. I just want August 1 will be good and successful so that there will be no more splits and everyone can sleep peacefully now. Because today and from the past weeks I really can't sleep well because of always checking and monitoring the market.

If only F2pool, Slush Pool, and GBMiners will join the BIP 91 then we wont have any split. But currently we are just 195 blocks away before the BIP 91 lock in. So lets hope and see. If you are a miner working on those 3 pools i have mentioned, then I suggest you move and go to the other miners other than those 3. You can help if you will do that.

I guess won't have any split now.

why I need to be scared? everyone is saying that price of cryptocurency's will grow on 1st August, so it's good for us. or you don't think so?

It is being started by .. who knows I don't know who started to spread FUD through the crypto market.

[psmachado]

I don't know what will be the value of bitcoin after August 1st but all I know is that in a long term Bitcoin will rise! So we have no reason to be afraid of August 1st because if bitcoin decrease after "the event" it will increase in the next weeks or months. Maybee it can be an oportunity to buy/sell and have a good profit but if you do "nothing" you will be safe in a long term.

[hatshepsut93]

I think long-term hodlers shouldn't care about any hard forks, because ultimately their effect on Bitcoin's price will be irrelevant in a couple of years. Most people who are panicking because of UASF and other potential chain splits are probably newbies who started trading in a last few months, and probably bought Bitcoin above $2700 so it really hurts them when it seems to be going down. I've been into Bitcoin for more than a year now, and witnessed some crashes, wild volatility and speculation, and it taught me to not care much about current price, because long-term perspective is what really important.

[ilovefeetsmell]

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.

It is not 100% sure splitting of Bitcoin. Many people will grievance when this happens. It's very afraid on our bitcoin, what will happen to them? Will I continue saving bitcoin for the several years to earn money and wait until the price double or triple? Many people vision will change when the bitcoin split. What could really happen in coming years? Will it happen again? I want an assurance on holding my bitcoin.

[Vixmore]

I do not think that we really need to be afraid of August 1. We have seen bitcoin's prices grow rapidly in the past few days from 1900 USD tall the way to 2800 USD. I predict the value of bitcoin to be much, much higher after August 1 than it is now.

Honestly, I'm a little bit excited, and a little bit afraid. Because somehow, if Bitcoin will have an update I know there will be a better place for it in the world.

I'm feeling the same emotions too. I just hope no split will happen in the blockchain that can undermine the whole bitcoin network.

We will probably see a dip just before August 1 in bitcoin's price before climbing rapidly after August 1. This will be a good time to invest again before the opportunity goes away for quite some time.

[BitcSeo]

....Segwit support is now at 60.4%.....

@ximply,
is this a kind of vote of what? If, yes is there any thing we can do in order to participate in this vote & who do we support?

Thanks
Bitcseo

Yes it is something like a vote but only miners can join. Currently it is now at 80.5% and that is enough to avoid the split.  What we need to hope right now is for it to hold at that level for two consecutive days. Majority of the miners are supporting it already except for F2pool and some small group of miners. This trigger the price of bitcoin to go up again after it went down to $1800 level. Now price is up and will continue to go up.

@ximply, thanks for the clarification.

[ximply]

....Segwit support is now at 60.4%.....

@ximply,
is this a kind of vote of what? If, yes is there any thing we can do in order to participate in this vote & who do we support?

Thanks
Bitcseo

Yes it is something like a vote but only miners can join. Currently it is now at 80.5% and that is enough to avoid the split.  What we need to hope right now is for it to hold at that level for two consecutive days. Majority of the miners are supporting it already except for F2pool and some small group of miners. This trigger the price of bitcoin to go up again after it went down to $1800 level. Now price is up and will continue to go up.

@ximply, thanks for the clarification.

Hi bitcseo, its ok now and we got a lock in already. That is good news for all of us. Now we will see bitcoin price rising.

[ghostunicorn]

I do not think that we really need to be afraid of August 1. We have seen bitcoin's prices grow rapidly in the past few days from 1900 USD tall the way to 2800 USD. I predict the value of bitcoin to be much, much higher after August 1 than it is now.

Honestly, I'm a little bit excited, and a little bit afraid. Because somehow, if Bitcoin will have an update I know there will be a better place for it in the world.

I'm feeling the same emotions too. I just hope no split will happen in the blockchain that can undermine the whole bitcoin network.

We will probably see a dip just before August 1 in bitcoin's price before climbing rapidly after August 1. This will be a good time to invest again before the opportunity goes away for quite some time.

I hope no split too yet this costed me too much. I sold my bitcoin 2 days ago and now it became a sky rocketed one. It does not make sense to me. We should be ready for another dump after all.

[ximply]

Always remember the one rule of trading, buy low sell high.

Very simple but people always forgot. When there is panic in the market price is going down and everyone sells. Then when market in on bull run then everyone buys.

Not good way to invest.

[CarnagexD]

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

The thing is we really do not need to panic and to be afraid on what will happen on Bitcoin this coming August. First Bitcoin had established its price and past in the market. So as we all know Bitcoin is quite capable on dealing on such problems. It is just better of we are going to take action or in other term ready ourselves for the possibility of changes. But no need to worry and to be afraid because it is just a part of a sure development. Just continue to support and to have faith on Bitcoins development and progress.

[coinzoid]

I own a hardware wallet (Ledger Nano S). Do I need to use other ways of backup rather than saving my private key pairs? I want to make sure that everything is in place before August One.

[South Park]

I own a hardware wallet (Ledger Nano S). Do I need to use other ways of backup rather than saving my private key pairs? I want to make sure that everything is in place before August One.

For what I have read you only need to have your bitcoins in a wallet that you own with private keys that you control as well, so it seems to me you are already prepared for what August 1 will bring but I think the chances of a split of a network are basically zero at this point.

[bryant.coleman]

Can anyone confirm whether F2Pool and BTC.com are signaling BIP 91 or not? The list given in xbt.eu seems to indicate that they are still not signalling it (the latest block mined by them is 476878). If that is the case, then after the grace period, the blocks mined by these miners will be thrown out and the members will lose their mining reward.

[ximply]

I own a hardware wallet (Ledger Nano S). Do I need to use other ways of backup rather than saving my private key pairs? I want to make sure that everything is in place before August One.

Wow you are a rich man coinzoid. Good investment you have there. Your bitcoin are safe with ledger nano s.

[Lyancy001]

Not sure, Maybe I'll just buy off all of my bitcoins into other alts.

[Jarkss]

I am believing that all will turn into positive for all crytocurrencies after August 1. Hoping all of us here in the forum stashed enough coins for the coming pump

[lucifochrome]

So, there is only a week left before august 1. I dont know how you guys (big earners and normal earners) feel. As for me i am new to bitcoin and im just looking forward to that day. Waiting could be stressful especially if you are thinking that after august 1, rate of bitcoin will decrease drastically, however since we cannot predict what will happen i guess it's safe to say to buy when people are starting to panic selling. I will be taking that risk since the greater the risk the greater the return but of course there's the chance of lossing as well. Oh how i wish i can predict the future