Some tips for surviving 1st Aug bip 148 uasf and the current mining prices

[EvilMonkey]

Seeing alot of panic from miners as well as investors.  It is both good and bad.  I have had a few friends that just got into mining that purchased a few GPU's go a bit dark on me.  I wrote this for them mostly but hopefully if you are feeling like giving up minging or powering down your rigs for a bit have a read.

https://steemit.com/mining/@evilmonkey/mining-and-crypto-guide-to-surviving-the-bear-market-and-bip-148-uasf-possible-bitcoin-fork

[1714037387]

1714037387

[pchampn]

Thanks for sharing your views, it helps a lot. I have couple of questions:

1. ETH: I know there are several estimates going around about DAG file increase, but what I heard is that significant increase in difficulty will happen sometime next year, so why should we panic?
2. BTC wallet: that is a really good advice! Do you prefer any wallet/s? Previously I used Multibit and was greatly disappointed by its functionality.

Once again...thanks!

[Dlugina23]

I have btc in hitbtc and got btu.

[rdluffy]

In a few words: Hold your coins, move the BTC to your wallet

Great topic dude

[BitBustah]

So where to move my bitcoins from blockchain.info before august 1st?


I don't have 145 GB of free space to run my desktop wallet. Now what? Is my BTC at blockchain.info at risk?

[leowonderful]

So where to move my bitcoins from blockchain.info before august 1st?


I don't have 145 GB of free space to run my desktop wallet. Now what? Is my BTC at blockchain.info at risk?

Electrum works just fine for storage, full wallet isn't really needed. IMO blockchain won't do anything in the event of the UASF anyways but as I said before, electrum takes little storage and has most of the functionality of the full wallet.

[BitBustah]

IMO blockchain won't do anything in the event of the UASF anyways

So what to do, move em or keep em there?


Just started with mining, don't want to risk losing my money.

[Rapidgator]

if someone want to sell their gears specially rx 480 rx 580 can PM me

Thanks

[BitBustah]

if someone want to sell their gears specially rx 480 rx 580 can PM me

Thanks

Wrong topic.

[RentGPU]

Ppl always like some hope words , but i always see what i can see the market is crashing and no one know what will happen  , who sold at the peak is now watching happy and who didn't is now in danger and he know it with my respect to any future hope speculations

[h311m4n]

Just my 2cts.

Cryptos are volatile and always have been. ETH and other coins have dragged too much attention to themselves in the past months, people bought gear at unreasonable prices to get in on the hype and now they're all tripping balls because ETH is falling from it's historical peak. Well...tough shit! A simple rule of thumb is to never invest more than you can afford to lose. If you have, then you're an idiot.

We are now in the bearish trend. If you sell now, you'll only sell at a loss, so only do so to pay for electricity if you have to. Everything that goes down goes up again. It's just a matter of waiting it out. Never ever get emotional with your investments.

Happy mining.

[BitBustah]

This isnt a discussion on wether or not to buy/sell/mine... This is about bip148.

So, is my BTC safe at blockchain.info or not?

[leowonderful]

IMO blockchain won't do anything in the event of the UASF anyways

So what to do, move em or keep em there?


Just started with mining, don't want to risk losing my money.

You have the option for a more secure method of storage so I'd take the privkey and transport it to electrum or make a new wallet in electrum and send all the BTC there. Just like 2FA, can't hurt to enable it.

Blockchain's had a policy of not really messing with your stuff for a while and has only had several minor issues with their wallets so I'd say coins there are relatively safe. Just don't keep too much there, as some people who lost coins there never got them back.

[h311m4n]

This isnt a discussion on wether or not to buy/sell/mine... This is about bip148.

So, is my BTC safe at blockchain.info or not?

Well the title and OP's link and post say otherwise.......

[Alternative]

1. ETH: I know there are several estimates going around about DAG file increase, but what I heard is that significant increase in difficulty will happen sometime next year, so why should we panic?

You are wrong here my friend. ETH mining will not rise next year, that is sure. That is the thing I am the most sure of my life, and for the simple reason that next year there will be no longer any Ethereum mining, since it will end when Casper will be released, at the end of this year.

[EvilMonkey]

This isnt a discussion on wether or not to buy/sell/mine... This is about bip148.

So, is my BTC safe at blockchain.info or not?

Actually it is about both.  Can already see half of the people posting here asking the questions answered in the piece I wrote.  To lazy to ready teh first post I guess.

 From my understanding as long as you control your private key you will be fine.  You dont need a full on bitcoin wallet with the full blockchain loaded.

[EvilMonkey]

Thanks for sharing your views, it helps a lot. I have couple of questions:

1. ETH: I know there are several estimates going around about DAG file increase, but what I heard is that significant increase in difficulty will happen sometime next year, so why should we panic?
2. BTC wallet: that is a really good advice! Do you prefer any wallet/s? Previously I used Multibit and was greatly disappointed by its functionality.

Once again...thanks!

Hey dude,  I really don't know the answer I got out a while ago from ETH and I don't really follow the news.  My understanding is was happening pretty soon as in not that long after 1st AUG.  There is other stuff too.  There will be an end to ETH mining I think?  That is probably what you are thinking of as that is further down the track.

[LoneRangir]

You are wrong here my friend. ETH mining will not rise next year, that is sure. That is the thing I am the most sure of my life, and for the simple reason that next year there will be no longer any Ethereum mining, since it will end when Casper will be released, at the end of this year.

Just like 'metropolis' was due late last year.... 

[Za1n]

Yes, the markets will be very uncertain from now until August 1st, and perhaps even a bit afterwards depending on how smoothly (or not) the split goes. I have moved most of my BTC back to my own wallet where I control the private keys so I can be ready no matter what happens. I recommend this to anyone who has a significant portion of BTC on exchanges or other services that control the private keys for you as you do not know which way they will turn if the sh*t hits the fan on Aug 1st. Remember some exchanges were not going to honor the ETC chain after the ETH split, even though most eventually did. But why take the chance on someone else making that decision for you? Move those coins!

I would also recommend you act sooner rather than later if you do plan to move your BTC. Waiting until July 31 could be risky as who knows the war might be in full force and transactions might be delayed and never clear in time for the split. If you end up on the loosing chain, say good bye to your coins. For large amounts I would be taking action now, even for smaller amounts you will want to have your funds in their "safe" positions by at least the Friday (28th) before.

As far as ETH I also expect it to be very uncertain until this event has passed. I know a lot of people are hoping for or anticipating a "flippening" at some point, and it may indeed eventually happen, but for the short term BTC is still king and how it goes, goes the entire crypto-market. Assuming a smooth BTC transition, after a few days or weeks into August we should be able to judge the new direction, which I expect to be a return to a slow overall growth in the crypto-space with it picking up more steam again by the time we get into the Winter months.

[philipma1957]

If you have more then 2 coins. You should have a core 14 wallet.

I had an 11 and now am doing an up grade to 14,


I also slapped together a new build. With an i5 7500 24 gb ram and a 500 gb ssd.

Did the entire chain in under 13 hours.

I have enough coins that it is worth it to me to do this build.