thecrazy
Contributor
LEVEL 2
900 XP
Bitcoin may experience a fork on August 1st if the majority of miners (by hash power) does not support BIP 148. I don't know all the reasons but I know one of the biggest reasons for this protocol is the obscene transactions fees taking place for bitcoin right now. As more and more people adopt bitcoin, the transaction fees will only get higher to the point where it'll be unbearable.
Getting to the point though, make sure you own a wallet where you own the private keys and you should be fine even if a fork happens. DO NOT hold it in exchanges, that's just about the worst thing you can do lol. Wallets that support BIP 148 include Electrum and Mycellium. Bitcoin prices will be volatile if the fork happens but if you were prepared you might very well profit nicely instead.
Your alternative would be to cash out to other cryptocurrencies that seem promising (like ethereum, although it's possible that there will be volatility during August for this crypto as well). Don't just hold cash especially in a time where cryptos are booming, you'll likely end up regretting it more than anything.
For technical info about BIP 148 aka SegWit check this site, it also shows a list of wallets supporting this protocol:
For general information on how to survive the fork, here's another link:
There's plenty of youtube videos out there explaining this well too so check them out. Just type in BIP 148 or Bitcoin Segwit and you should get a lot of results. Good luck trading
Getting to the point though, make sure you own a wallet where you own the private keys and you should be fine even if a fork happens. DO NOT hold it in exchanges, that's just about the worst thing you can do lol. Wallets that support BIP 148 include Electrum and Mycellium. Bitcoin prices will be volatile if the fork happens but if you were prepared you might very well profit nicely instead.
Your alternative would be to cash out to other cryptocurrencies that seem promising (like ethereum, although it's possible that there will be volatility during August for this crypto as well). Don't just hold cash especially in a time where cryptos are booming, you'll likely end up regretting it more than anything.
For technical info about BIP 148 aka SegWit check this site, it also shows a list of wallets supporting this protocol:
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