Do I need to worry about my bitcoin holding after August 1st?

[Russlenat]

For me! I just worried less because my wallet provider if guaranteed us that our bitcoin during that date is safe in the account, but they just disable there transaction during that date and for further announcement.

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[Kyraishi]

Hi All,

I mostly use my hardware wallet to save most of my bitcoins where I have access to my private key.

However, I also keep a good amount of bitcoin in my online BlockChain wallet for quick trading transfers.

my question is, do I need to worry about my bitcoins I hold in my online wallet? Will it be safe? What can be the consequence of of August 1st network split on my bitcoins?

Can anyone please give me an answer?

Blockchain.info you do hold your own private keys with, therefore I don't think that you need to worry much about it. Hardware wallet is one of the safest ways to keep your bitcoin, again you should be able to claim your bitcoin cash fairly easily if a fork happens. No need to worry. If you want to be extra safe then transfer your btc from blockchain.info to your hardware wallet as well but imo that's not really necessary especially if involving low amounts.

You should be good to go looking at what you have said above. If you have any funds on exchanges, just make sure that you have withdrawn them to your hardware wallet.

consequences? Well you'll just get two bitcoins of the same amount of what you've previously held. For example if you held 2 btc, then you get 2 btc and 2 bcc after fork.

[radjie]

Yes, I've heard this news from a few months ago. The news is a heated debate among its users, bitcoin users would have been familiar with the word 'hard fork', where hard fork events occur when the development team of a cryptocurrency agrees to apply a feature or a new change to the programming system of the coin.
Before all that happens you have to move all the bitcoins you have to the wallet that has the trusted side of extra security.

[Capradina]

For me! I just worried less because my wallet provider if guaranteed us that our bitcoin during that date is safe in the account, but they just disable there transaction during that date and for further announcement.

I think it is indeed, on August 1, all providers wallet will disable all the things there are in it and I am sure that all of it will not give any bad impact to the user's wallet. Because if indeed their cheating was already certain, they will lose out within 1 week. Because surely everyone will leave the wallet provider and switch to a safer place. So you don't need to worry, all funds will surely secure and sure you'll get the benefit of the hardfork
 

[tulikak]

Hi All,

I mostly use my hardware wallet to save most of my bitcoins where I have access to my private key.

However, I also keep a good amount of bitcoin in my online BlockChain wallet for quick trading transfers.

my question is, do I need to worry about my bitcoins I hold in my online wallet? Will it be safe? What can be the consequence of of August 1st network split on my bitcoins?

Can anyone please give me an answer?

Firstly you must ensure that the wallet your bitcoins are in will support BCC or not and its take on the recent developments in BTC. What i can infer from my knowledge is that your BTCs will either be converted into BCCs or might get nullified if the exchange is planning to derecognise BTCs i.e. it has its alignment with BCC.

[Bhinodm]

I really don't know for sure bro. But I kept on hearing stories about the bittrex that they will give bcc or bitcoin cash to bitcoin hodlers. The ratio of it is 1 is to 1. 1:1. If you have 1 bitcoin then you will receive 1 BCC FOR fREe. Well for me I think that btc are not safe in other online wallets specially when you dont have the priv key.

I totally agree with you. Right now the situation is pretty confusing and it will be little impossible to predict the final outcome. I heard many wallets have seized the accounts and arent allowing any BTCs transactions. Is it true?

[sandeepkharche]

Hi All,

I mostly use my hardware wallet to save most of my bitcoins where I have access to my private key.

However, I also keep a good amount of bitcoin in my online BlockChain wallet for quick trading transfers.

my question is, do I need to worry about my bitcoins I hold in my online wallet? Will it be safe? What can be the consequence of of August 1st network split on my bitcoins?

Can anyone please give me an answer?

I'd advice you to sell of all your bitcoins and keep that money in cash.

[jerk10]

Hi All,

I mostly use my hardware wallet to save most of my bitcoins where I have access to my private key.

However, I also keep a good amount of bitcoin in my online BlockChain wallet for quick trading transfers.

my question is, do I need to worry about my bitcoins I hold in my online wallet? Will it be safe? What can be the consequence of of August 1st network split on my bitcoins?

Can anyone please give me an answer?

Well the doomsaday has arrived (just a few hours left). We'll finally get to know what course will BTc is meant to folow.

[Blessed7]

You should move your BTC from your online address eg to a large market like bittrex or viabtc that gives BCC. There you will get a free bcc as long as your BTC is stored there.

Absolutely right it is. But the question here is at what price will BCC launch?

[BitHodler]

For me! I just worried less because my wallet provider if guaranteed us that our bitcoin during that date is safe in the account, but they just disable there transaction during that date and for further announcement.

When it comes to exchanges and online wallet services, obviously, your coins will be exposed to the same risks as when there isn't a chain split looming.

From there, your wallet service stating that your coins will be just fine has no value, because they at all times should be fine. It's like they make it seem they do extra effort to keep people's funds safe.

People should start storing their coins offline. If you're desperately looking for convenience, at least make sure you make use of mobile apps that allow you to remain in full control of your private keys.

Using online wallet services where you grant them access to your private keys is seriously a no go. There is a saying ~ if you aren't the sole owner of your private keys, you don't actually own anything.

[BCTalkaccountforsale]

Hi All,

I mostly use my hardware wallet to save most of my bitcoins where I have access to my private key.

However, I also keep a good amount of bitcoin in my online BlockChain wallet for quick trading transfers.

my question is, do I need to worry about my bitcoins I hold in my online wallet? Will it be safe? What can be the consequence of of August 1st network split on my bitcoins?

Can anyone please give me an answer?

The blockchain wallet, it's really useful, you can keep it for a long time, and you can be assured of the bitcoin value after August 1, so keeping bitcoin will be a definite thing. Bitcoin will increase and you will have a large income range.

[Kevondo]

There is a risk in online wallets as we all know it, but if you have private keys of your wallet then it is quite acceptable. The problem is splitting on august 1 so it is better to transfer all your funds from online wallets to offline wallets.

I really don’t know mate but I kept on my bitcoin till august first because the price of the bitcoin is increasing and hope it will increase more and more after that I will keep my bitcoin in any of my wallet and will use it when the bitcoin will be world famous for us prices keep on changing and also today we can see a huge change till now from the start of the bitcoin.

[Konthol Ngaceng]

We must have a special strategy, if we just hold our money on bitcoin of course we worry because hard fork events can make money lost, better is transfer bitcoin to exchanger to be exchanged with other coins like ethereum or monero.

[liuqi]

We must have a special strategy, if we just hold our money on bitcoin of course we worry because hard fork events can make money lost, better is transfer bitcoin to exchanger to be exchanged with other coins like ethereum or monero.

Don't loose hope about bitcoin's potential. Please don't go towards these copy cats altcoins. In 2013 also after big bump bitcoin only again rise and now it stand in good position. If you check the world's costliest assets. This will be the first and best stock which will rise continuously than gold or property. Be stick with bitcoins.

[joebrook]

Hi All,

I mostly use my hardware wallet to save most of my bitcoins where I have access to my private key.

However, I also keep a good amount of bitcoin in my online BlockChain wallet for quick trading transfers.

my question is, do I need to worry about my bitcoins I hold in my online wallet? Will it be safe? What can be the consequence of of August 1st network split on my bitcoins?

Can anyone please give me an answer?

To be on the safe side why dont you transfer all your bitcoins into your hardware wallet, but i doubt that anything will happen to those store in the blockchain wallet.

[TravelMug]

Hi All,

I mostly use my hardware wallet to save most of my bitcoins where I have access to my private key.

However, I also keep a good amount of bitcoin in my online BlockChain wallet for quick trading transfers.

my question is, do I need to worry about my bitcoins I hold in my online wallet? Will it be safe? What can be the consequence of of August 1st network split on my bitcoins?

Can anyone please give me an answer?

To be on the safe side why dont you transfer all your bitcoins into your hardware wallet, but i doubt that anything will happen to those store in the blockchain wallet.

I see a lot of bitcoin users complaining about blockchain so I'm come into conclusion that it is not a good wallet anymore specially this coming event on bitcoin. I already moved all my funds out of blockchain and moved to a more safe and sound wallet like Electrum and core. Don't want to take risk specially we are just few hours from the dreaded Aug 1.

For me! I just worried less because my wallet provider if guaranteed us that our bitcoin during that date is safe in the account, but they just disable there transaction during that date and for further announcement.

I hope that the wallet provider has only given you access to your private keys because if its not, then their is still risk involved. They disable their transaction, but happens after they resume?

[Hoganye]

We must have a special strategy, if we just hold our money on bitcoin of course we worry because hard fork events can make money lost, better is transfer bitcoin to exchanger to be exchanged with other coins like ethereum or monero.

Not frozen market when active SegWit Bitcoin, just maintenance system and you can't send/receive Bitcoin in this time. So, don't worry about issue can't trading BTC/Atlcoin in August 1st

[Billz007]

Most of my bitcoins are stored on a PC using MultiBit Classic that's kept offline except when I update it.  My question is will this wallet still work after the split or should I import the private keys into Electrum?  Any thoughts guys? 

[alva5763]

I had some on Yobit. received my bcc a few hours ago. i believe yobit will support btc and bcc.

[nethan1btc]

There is a risk in online wallets as we all know it, but if you have private keys of your wallet then it is quite acceptable. The problem is splitting on august 1 so it is better to transfer all your funds from online wallets to offline wallets.

Transferring your bitcoin balances on your offline wallets is a better idea and as I had read from other thread topics, they've also recommended to do it. August splitting has feared a lot of investors and bigger whales wasn't alarmed because if blockchain network will really allowing that to happen, well the circumstances will really their consequences to suffer in the future. That's how I really viewed bitcoin to be the apple of the eye for this current situation right now. Didn't you get the actual logic here?  We've been under the influence of the rumors and I can recommend to take a stand of it and never lose hope, we can survice the challenges.