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Wednesday, 12 July 2017

Potential Bitcoin Schism and How it might Affect You (1st August)


Many of you have already enjoyed the benefits of working with Bitcoin. It's a decentralized, automated, easy and secure way to transfer funds around the world. However, alas, like all advanced technology, its foundations are not firmly fixed as its fluid nature begins to take on a life of its own. 
In the Bitcoin community, change is in the air, and we believe it is our duty to give you the proper advanced warning.

We are of course talking about the potential schism of Bitcoin due to the activation of Protocol BIP148 (about which you can read more here http://www.uasf.co). 

According to this Protocol, on 1st August, the Bitcoin network will split into two; the consequences of which are impossible to predict.

What should I do?
The only way to avoid the potential negative consequences of a Bitcoin fork is to not hold bitcoin.

What if I want to keep holding Bitcoin?
Your best option is to send your bitcoin to an exchange or wallet that will support multiple forks of Bitcoin. You can do this by generating a Bitcoin address on such exchange or wallet.

Juan Cypher (Author & Editor)

Has laoreet Bitcoin percipitur ad. Vide interesset in mei, no his legimus verterem. Et nostrum imperdiet appellantur usu, mnesarchum referrentur id vim.

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