There is a chance of a Bitcoin chain split on August 1st to implement segregated witness (SegWit).
In other words Bitcoin could split into two separate coins. This can be a scary scenario for those new to Bitcoin, i know it was for me at first.
So if you hold Bitcoin right now, you will still own Bitcoin after, as well as the other coin if Bitcoin does split; but this is where things can get messy.
Here are 3 simple rules to follow to make sure your ready for the Fork on August 1st...
STEP #1 If you store Bitcoin on an exchange or in an online wallet, such as Coinbase I highly recommend that you move your Bitcoin to a private wallet that is controlled by you such as the desktop wallet ( EXODUS ) https://www.exodus.io/ or a hardware wallet such as a ( KEEPKEY ) https://www.keepkey.com/ like I use.
STEP #2 Avoid buying or selling any Bitcoin ON or SHORTLY AFTER August 1st. This is to insure that while the transition is happening, your Bitcoin is kept safe. If you spend Bitcoin during this time you could be spending more then what you think...
STEP #3 Ensure that YOU control your private keys!!
So, can we confirm that Exodus will support BIP 148?
I hope this helped
i am looking for the same thing. But since in exodus you can get access to your private keys, we should be okay right?
I think so, but I'd really like to be sure.
find out yet?
The fact that You Control 100% over your funds with Exodus. Therefore, if you have your BTCs on an Exchange, I'd get them out of there and into your Wallet (Exodus or Jaxx) before August 1st 2017 (just to be sure).
More info on Exodus here:
http://support.exodus.io/knowledge_base/topics/does-exodus-support-bip148-and-the-uasf
yes, unlike an exchange or hosted wallet, Exodus gives you the user full control of your private keys. with these private keys you will be able too retain control of both sets of coins when and if a fork takes place. but since Exodus is a light-wallet that depends on info from other services such as shapeshift. Exodus is dependent upon their decisions. Until we know the posistion of each service, exodus is unable to give a firm position
totally new here. That is helping a lot. So I guess Im safe with the Ledger.
Trying to get hold of a hardware wallet is a nightmare at the moment!!
It sucks that we have to avoid buying Bitcoin after the split. I have been hearing that the price may drop drastically, and this could be the best time to make a big investment. The only thing is that the Exchanges will support both coins. So essentially we would have to take a chance on the Bitcoin we think would survive the split. Anyone planning on buying Bitcoin when the split happens?