[Guide] Handling splits: UASFs, BIP148, etc.

[Yefet]

With Coinbase am I ok? Or should i use another kind of wallet?

CoinBase is online wallet - can you get the private key to it? If so, than CoinBase is quite OK, but better use the desktop wallet if you want to have the coins in both blockchains in the case of split.

From the other hand Coinbase will surely stay with the winner, so you will likely keep the value of your holdings.

Is it safe to convert BTC balance in Bittrex into USD Tether until the situation clears up?

If you don't need marginal splitcoin and sure about the BTC rate - than you could keep BTC without any conversion.

PS

by the way, Tether USD uses BTC blockchain, so better not to use it during the possible split turmoil 

[1714803661]

1714803661

[1714803661]

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[sunny163]

is it fix that coin is going to split ?

On what things it will be decided ?

[Yefet]

is it fix that coin is going to split ?

On what things it will be decided ?

oh, well, just everybody calms down, everything will be OK 
cryptomarket is rebounding and all the parties will come to the consensus - no split will occur as nobody wants it - so let's pray for the piece and wisdom O:-)

If still in doubt - sell all your crypto and go for vacation

there will be enough pumps and dumps in the future to have some fun and, hopefully, profit

[Mad_Max]

Every Bitcoin transfer, no matter how tiny, creates a transaction. But blocks are limited not just by time, but by size: they cannot exceed 1MB in the current system. Currently, they’re about 400KB, but occasionally peak towards 1MB. Once transactions start to accumulate continuously at a rate faster than the number that can be baked into a 1MB block within that roughly 10-minute schedule, all sorts of terrible things will start happening, resulting in the worst case in a sort of currency meltdown.

No! Blocks not about 400 KB now. Almost all bitcoin blocks very close to 1 MB limit (990-999 KB) at least last half year already. You can check this there: https://blockchain.info/ru/blocks
Or at any other blockchain browser/monitor.

And already there were few repeated periods when new transactions came much faster than they managed to include in the blocks by miners.

And... nothing terrible happened at such periods. Just minor troubles - increased commission fees for transactions and users with low commissions experienced delays in their payments. That's it, everything else worked and will continue to work without failures.

[btcethgold]

Hello Guys,

Sorry I am new here. I want to ask i have few BTC in Blockchaing.info online wallet with 2 factor authentication. Is it safe to keep BTC in this wallet.

[ClownSpider]

Just as I said:

• There will be no split
• There will always be only one Bitcoin.   Overstock, Lamborghini, Bitpay, Purse.so, (amazon), will always accept Bitcoin, not an Alt coin
• No new Alt coin will be supported as widely as Bitcoin, so there will never be a split
• Your bitcoin will not vanish, the blockchain will always remain

[iram3130]

A really good read for all of the crypto lovers and people who are curious or panicked because of the segwit. I think this guide would have been complete if sir had listed all the wallets which are secure and safe in case of any split.
I know that it'll not happen but still when there is a possibility, it'll be better to be prepared.

[KNK]

all the wallets which are secure and safe

There's only one - "rock wallet" it's like paper wallet, but it set in stone instead on paper ... the drawback is it's heavy and harder to hide, but it's waterproof and fire-resistant it does not depend on your hard drive failing nor You loosing your phone ... just bury it in the garden and 'remember' for it few years latter

[wajik-tempe]

anyone can explain from the picture above,i am still confused with the image?
what image is HardFork description

[BetAdviser]

Just as I said:

• There will be no split
• There will always be only one Bitcoin.   Overstock, Lamborghini, Bitpay, Purse.so, (amazon), will always accept Bitcoin, not an Alt coin
• No new Alt coin will be supported as widely as Bitcoin, so there will never be a split
• Your bitcoin will not vanish, the blockchain will always remain

+1

[lightsofray]

this kind of stuff is why BTC is so volatile.

[jpouza]

My Bitcoin Core wallet 0.14.2 received today a message:

Warning: Unknown block versions being mined! It's possible unknown rules are in effect


Should I be worried about this?

[jooj]

Just as I said:

• There will be no split
• There will always be only one Bitcoin.   Overstock, Lamborghini, Bitpay, Purse.so, (amazon), will always accept Bitcoin, not an Alt coin
• No new Alt coin will be supported as widely as Bitcoin, so there will never be a split
• Your bitcoin will not vanish, the blockchain will always remain

No,There will be split as topic title says and regarding the author this topic theymos. his posts clear there will be split on August 1.

[crendore3]

I'm getting this error aswell:
Warning: Unknown block versions being mined! It's possible unknown rules are in effect

[sabotagebeats]

Thank you so much for this helpful write-up

[DomainMagnate]

Just as I said:

• There will be no split
• There will always be only one Bitcoin.   Overstock, Lamborghini, Bitpay, Purse.so, (amazon), will always accept Bitcoin, not an Alt coin
• No new Alt coin will be supported as widely as Bitcoin, so there will never be a split
• Your bitcoin will not vanish, the blockchain will always remain

No,There will be split as topic title says and regarding the author this topic theymos. his posts clear there will be split on August 1.

Do mot misled people.Theymos never said for sure that there will be split.He only said there is a possibility if split.

[Voice-Of-Reason]

Thanks all for great valuable info!

I'm keeping my bitcoins in a hardware wallet for now, not leaving any BTC in any exchange for that time period, just other cryptos.

[theymos]

My Bitcoin Core wallet 0.14.2 received today a message:

Warning: Unknown block versions being mined! It's possible unknown rules are in effect


Should I be worried about this?

No, you can ignore that in this case. It's caused by BIP91 signalling.

[MEEMxyz]

My Bitcoin Core wallet 0.14.2 received today a message:

Warning: Unknown block versions being mined! It's possible unknown rules are in effect


Should I be worried about this?

No, you can ignore that in this case. It's caused by BIP91 signalling.

Can you please elaborate? It feels so weird to see in Bitcoin Core:
Warning: Unknown block versions being mined! It's possible unknown rules are in effect

Why would miners be "signalling BIP91"?

[theymos]

Can you please elaborate? It feels so weird to see in Bitcoin Core:
Warning: Unknown block versions being mined! It's possible unknown rules are in effect

One way to deploy softforks is specified in BIP9. This is how SegWit was supposed to be activated, but it requires miner cooperation. Miners are now doing a different weird thing called BIP91 which abuses the BIP9 mechanism in order to signal amongst themselves support for later hard-enforcing SegWit-BIP9 signalling.

So your Bitcoin Core thinks that sometime after it was released, a new softfork was released and is now about to be activated. You then might want to upgrade in order to continue verifying 100% of the consensus rules. But that's not actually what's happening: what's actually happening is that miners are rudely talking to each other over this sensitive channel without concern for the side-effects you're seeing. There is no softfork-enabled software that you could upgrade to.

Is this signaling part of the forking process?

There are several possible forks/splits on or around Aug 1. (Most of which will not actually happen/succeed.) This is a side-effect of one of them.