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News: BIP91 seems stable: there's probably only slightly increased risk of confirmations disappearing. You should still prepare for Aug 1.
 
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Author Topic: When is it NOT SAFE to buy Bitcoin?  (Read 444 times)
Alphaz841x
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July 16, 2017, 08:37:54 AM
 #1

Bitcoin and other cryptos are going down which means it's a good time to buy. I want to purchase but i'm afraid of all the drama around 1st of August.

I have read that there is a possibility of someone mining on non-segwit version of Bitcoin and receiving bitcoins like these then a few weeks after UASF goes in and gets most of mining power all the btc from non-segwit version are going to get erased.

How do i know that bitcoin i am receiving now won't disappear once segwit goes in?
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July 16, 2017, 10:17:25 AM
 #2

UASF will happen on August 1st at approximately 1AM (soon after midnight).

If you buy BTC, you will be buying it on the legacy chain.  I don't consider it likely that the exchange will give you both chains in the likely scenario that UASF causes a chain split.

While I doubt that UASF will dominate the legacy chain or become too relevant, to keep your coins safe you should:

-Avoid doing any transactions within about 12 hours of UASF, and ideally earlier.
-Transfer all of your bought coins to a wallet which allows you to control and export your private keys.
-Read bitcoin.org's post on the subject and also theymos' thread about this.

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July 16, 2017, 10:21:50 AM
 #3



How do i know that bitcoin i am receiving now won't disappear once segwit goes in?

You control the private keys and the wallets so that no matter what you have the control.
In other words do not trust an intermediary to do it for you.
https://bitcointalk.org/index.php?topic=2017191.0

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July 16, 2017, 10:25:32 AM
 #4

Definitely time to move your bitcoin away from exchanges to a wallet that you cntrol just so you are safe in the knowledge that no matter what happens your coins will be safe.

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July 16, 2017, 10:50:33 AM
 #5

Bitcoin and other cryptos are going down which means it's a good time to buy. I want to purchase but i'm afraid of all the drama around 1st of August.

Just buy and don't be afraid, this is a real investment and take the risk if you can. But if you have a weak heart better not. And if you are scared of buying it because of UASF. Just use an offline wallet and store your bought bitcoins there, that's the best thing to do when you have already. There is few days left, so if I were you, I'll buy.

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July 16, 2017, 11:11:51 AM
 #6

Definitely time to move your bitcoin away from exchanges to a wallet that you cntrol just so you are safe in the knowledge that no matter what happens your coins will be safe.

Agree of you mate much better to secured our bitcoin in our controlled wallet what ever happen in the future we sure that our bitcoin is safe. At now bitcoin value is continuous to decrease and i think it is because of the incoming segwit. But i am hoping that soon bitcoin value will recover and will brings more profit to us.

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July 16, 2017, 12:37:04 PM
 #7

This is the worst time to buy BTC. Just because the price is going down doesnt mean its good to buy now. Momentum matters in trading and they momentum we have now is downward. Theres also a hard fork to worry about.

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Frank0209
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July 16, 2017, 12:52:15 PM
 #8

Don't worry about the 1st August, just buy it and keep all of your bitcoin in your off wallet. It's be okay Wink
pisston
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July 16, 2017, 01:37:04 PM
 #9

Don't worry about the 1st August, just buy it and keep all of your bitcoin in your off wallet. It's be okay Wink
It's really so because of the possibility that due to the first August will increase, because cheap Bitcoin will be available to a wider audience. And who will not be afraid He will earn good money in the future.

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July 16, 2017, 01:39:18 PM
 #10

Don't worry about the 1st August, just buy it and keep all of your bitcoin in your off wallet. It's be okay Wink

Storing it in an offline wallet is the most secure thing anyone can do before August 1st, regardless of the outcome of the segwit we will have our Bitcoins after the update.
I think the downward trend will stop soon as people will try to take advantage of the low price.

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July 17, 2017, 12:13:26 AM
 #11

Bitcoin and other cryptos are going down which means it's a good time to buy. I want to purchase but i'm afraid of all the drama around 1st of August.

I have read that there is a possibility of someone mining on non-segwit version of Bitcoin and receiving bitcoins like these then a few weeks after UASF goes in and gets most of mining power all the btc from non-segwit version are going to get erased.

How do i know that bitcoin i am receiving now won't disappear once segwit goes in?

We can't predict how August 1st will affect bitcoin so i can't say anything about that. If you want to buy bitcoins so hold them or spend them then you can buy them anytime and it will be safe time. If you want to use them for trading, it is really not safe time to buy when bitcoin is expensive, as usually price falls down few days later



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July 20, 2017, 10:49:27 AM
 #12

Bitcoin and other cryptos are going down which means it's a good time to buy. I want to purchase but i'm afraid of all the drama around 1st of August.

I have read that there is a possibility of someone mining on non-segwit version of Bitcoin and receiving bitcoins like these then a few weeks after UASF goes in and gets most of mining power all the btc from non-segwit version are going to get erased.

How do i know that bitcoin i am receiving now won't disappear once segwit goes in?
Everyone did not know what would happen on August 1. So I temporarily stopped buying bitcoin. I will continue to invest in it when appropriate. I very much want bitcoin to be stable for long. And will increase your income for fun. I'm hoping for a lot of bitcoin.

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July 20, 2017, 11:37:26 AM
 #13

Bitcoin and other cryptos are going down which means it's a good time to buy. I want to purchase but i'm afraid of all the drama around 1st of August.

I have read that there is a possibility of someone mining on non-segwit version of Bitcoin and receiving bitcoins like these then a few weeks after UASF goes in and gets most of mining power all the btc from non-segwit version are going to get erased.

How do i know that bitcoin i am receiving now won't disappear once segwit goes in?

Actually, when Bitcoin is going down, is when you want to buy bitcoin, especially if you are doing buy low sell high. When Bitcoin dropped to around 2000 USD, a lot of investors started rebuying bitcoin since they released it was so low, and then after so many people rebuying Bitcoin, the prices quickly grew and restabilised itself at 2300 USD. Now Bitcoin is still growing and the price of it is at 2400 USD now.

Unlucky, but you missed your chance to get some cheap bitcoin, now I don't think there will be a price drop that takes Bitcoin below 2000 USD anytime soon.

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