Any help would be appreciated about bitcoin in my wallet

[n00b2017]

Hi guys so i purchased some bitcoin a while ago only £130 worth,When the prices where high
it was at around £2100 when i purchased my coins..I was wondering with what is happening
in August im not sure i fully understand what is going on with the blockchain or segwit..

And can't get my head around it,At the moment im down to £92 in my wallet,I use
the offline wallet btc electrum are my coins safe in this wallet until after the changes
happen..

I was just going to keep them in there until after whatever happens on august..Or am i best
changing the coins to a different wallet or does it not matter ??

Any help would be appreciated do i just leave it in my electrum wallet or move it some where
else..

Thank you in advance..

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[BrewMaster]

if you keep your coins (hold them in your wallet without touching them) then your cold storage with electrum is excellent. you don't have anything to worry about.

and after that date. depending on how things will go you may need to do different things.
1. (highest possibility) there won't be any split and you simply continue doing what you were doing before
2. (very low possibility) there is a split. for that you need to wait and see what happens to the chains. it may not even last long enough for you to do anything.

for now read this topic: https://bitcointalk.org/index.php?topic=2012799.0
and wait for that date to come and pass. and then keep an eye out for a new topic by theymos, as he promised to write a new one to guide through what to do then.

[|Bitkoin|]

Hi guys so i purchased some bitcoin a while ago only £130 worth,When the prices where high
it was at around £2100 when i purchased my coins..I was wondering with what is happening
in August im not sure i fully understand what is going on with the blockchain or segwit..

And can't get my head around it,At the moment im down to £92 in my wallet,I use
the offline wallet btc electrum are my coins safe in this wallet until after the changes
happen..

I was just going to keep them in there until after whatever happens on august..Or am i best
changing the coins to a different wallet or does it not matter ??

Any help would be appreciated do i just leave it in my electrum wallet or move it some where
else..

Thank you in advance..

The reason your wallet says there is only £92 is because the price is going down now by quite a lot. If I were you, I would sell now and buy back when the price drops lower or HODL until the price goes back over $2,100 again. It should not be too long until then and whatever you do, don't think this is a problem with your wallet, because it is only die to the recent price dropping.

[bouren]

I would suggest you to don't panic or rush to sell off your bitcoins at present or exchange them for any other altcoin at loss. Better wait for prices to recover once the possibility of fork eliminates or executed.
If fork going to happen, make sure to export your coins to some paper wallet and save your private keys. Then once situation returns to normal, import your coins back to electrum using pvt keys.

[cellard]

I would ideally run a full Bitcoin Core node but you are good to go with your coins in the Electrum wallet. Just hold, don't make any transactions for a while. Wait for august to end, in fact wait for the summer to end. Go out and get some sun, it's going to get worse in terms of tension and drama, price may crash lower, but in the end we will win, so if you aren't around during the drama, you don't have to worry. Nobody will steal your bitcoins if you own the private keys, that's all that matters. Your bitcoins are safe.

[n00b2017]

Thank you all of you i think i will just hold until after august,I understand how i went from £130 to £92 ..Im in
no rush to spend them so i think holding onto it would be the best idea..Selling for a £40 loss is going to be a tough
option to buy back in wont be worth it..

I get my coins from localbitcoins.com and bank deposit is the best option for me at the moment so there i was down £10
with the fees any way..

I just wanted to double check that my coins in the electrum wallet won't be affected i use 'Tails Bootable USB' to store
my coins with electrum..Thank you for the advice guys..Keeping fingers crossed all goes back to normal on august..

Atleast get some of my money back..Think people selling their coins is not helping the price drop..But we will see how
it goes.What is my chance of losing all the coins if there split into 2 ?I dont even understand why they are even messing
with the system when so many people have so much too lose.

I will be definitely holding till the price goes back up people need to stop panic selling.

[RealBitcoin]

Hi guys so i purchased some bitcoin a while ago only £130 worth,When the prices where high
it was at around £2100 when i purchased my coins..I was wondering with what is happening
in August im not sure i fully understand what is going on with the blockchain or segwit..

And can't get my head around it,At the moment im down to £92 in my wallet,I use
the offline wallet btc electrum are my coins safe in this wallet until after the changes
happen..

I was just going to keep them in there until after whatever happens on august..Or am i best
changing the coins to a different wallet or does it not matter ??

Any help would be appreciated do i just leave it in my electrum wallet or move it some where
else..

Thank you in advance..

If you are panicking about some small Bitcoin retracement then Bitcoin might not be for you.

Seriously people should stop panicking about these small fluctuations. If people can't handle the stress, then leave.

[n00b2017]

If you are panicking about some small Bitcoin retracement then Bitcoin might not be for you.

Seriously people should stop panicking about these small fluctuations. If people can't handle the stress, then leave.

Its not the price i was worried about ??Its was a question about what happens with the coins
in my electrum offline wallet that was all..I know how volatile BTC can be im not an investor
although i have made a few extra ££ from BTC buying low and using when high..

My main worry was if the coins was in electrum would they be lost if there was to be 2 coins
being made..And would electrum be ready for this..

That was all mate,I'm not the only one who is asking this question at the moment..Hope that
clears it up for you...And thank you to all that help explain the situation,I'm just holding onto
my BTC and as it for being a small amount it may be small to big time users of BTC and investors
not everyone is an investor or trying to make money from BTC there are some users who just
buy BTC and use them now and again..

So  yes a loss of £50 or so is a big deal to me,but im in no rush to spend it i was not worried
i know BTC will be back up after the 1st of August and possibly over the £2500 mark..I've
been watching it for months..I was more worried about losing the whole £130 just because
i did not move them out of electrum...

But just because im a small time users of BTC it still makes sense to ask what to do from the
people on the forum ?

[Fatunad]

If you are panicking about some small Bitcoin retracement then Bitcoin might not be for you.

Seriously people should stop panicking about these small fluctuations. If people can't handle the stress, then leave.

Its not the price i was worried about ??Its was a question about what happens with the coins
in my electrum offline wallet that was all..I know how volatile BTC can be im not an investor
although i have made a few extra ££ from BTC buying low and using when high..

My main worry was if the coins was in electrum would they be lost if there was to be 2 coins
being made..And would electrum be ready for this..

That was all mate,I'm not the only one who is asking this question at the moment..Hope that
clears it up for you...And thank you to all that help explain the situation,I'm just holding onto
my BTC and as it for being a small amount it may be small to big time users of BTC and investors
not everyone is an investor or trying to make money from BTC there are some users who just
buy BTC and use them now and again..

So  yes a loss of £50 or so is a big deal to me,but im in no rush to spend it i was not worried
i know BTC will be back up after the 1st of August and possibly over the £2500 mark..I've
been watching it for months..I was more worried about losing the whole £130 just because
i did not move them out of electrum...

But just because im a small time users of BTC it still makes sense to ask what to do from the
people on the forum ?

Have you read aboves post or answer regarding into your question? As BrewMaster said above he gives the link already regarding on that discussion which Theymos had made regarding on the upcoming possible split of Bitcoin. It would really be more technical stuffs when you read up their conversations and i would say you would really have a hard time on understanding it fully.

[cramcram21]

Hi guys so i purchased some bitcoin a while ago only £130 worth,When the prices where high
it was at around £2100 when i purchased my coins..I was wondering with what is happening
in August im not sure i fully understand what is going on with the blockchain or segwit..

And can't get my head around it,At the moment im down to £92 in my wallet,I use
the offline wallet btc electrum are my coins safe in this wallet until after the changes
happen..

I was just going to keep them in there until after whatever happens on august..Or am i best
changing the coins to a different wallet or does it not matter ??

Any help would be appreciated do i just leave it in my electrum wallet or move it some where
else..

Thank you in advance..

I think your coin would be fine since you are using an offline wallet ,
Let's just wait and see what would happen next after August 1 and let's wait for bitcoin to recover its price and go up again.

[Xavofat]

My main worry was if the coins was in electrum would they be lost if there was to be 2 coins
being made..And would electrum be ready for this..

As with all wallets Electrum will find it hard to give a user-friendly interface to access both chains because wallet wasn't really designed to work that way.  But it doesn't matter, because Electrum gives you access to a seed which can be used to generate your private keys.

As long as you have the ability to use those private keys in any wallet, which you do, your coins are safe.  

However, make sure not to spend your coins within 12 hours of the split (which will happen at about 1AM on August 1st), and preferably don't spend them for 24-48 hours before it.
Electrum made a guide for what to do in the case of a fork here.  This was about the potential hard fork from Bitcoin Unlimited which didn't end up happening, but I believe it'll still apply to future splits.

You can always read theymos' advice about this too.  Bitcoin.org's post is also essential reading.