Topic: Should we do Bitcoin transactions at this moment? (Read 1228 times)
the event has now passed you transact bitcoin back. I think all the bitcoin wallet purses give a warning to bitcoin purse users not to make a transaction when the date starts. for fear of losing the bitcoin you have when you make a transaction. bitcoin has a segment and it will have an impact on your bitcoin. this forum has explained in every thread to be careful in storing bitcoin because of the consequence of this bitcoin you lost. therefore the moderators are calling on all bitcoin users to store bitcoins on their offline wallets. to keep your bitcoin safe. but the event is over and we are free to make transactions.
Yes why wouldn't you the network part is completely different from bitcoin price no matter how badly the price has fallen the network won't face any issues there are excess delays occuring nowadays but the speed is still decent on the fees has increased a bit otherwise everything seems fine
Buy, buy.buy, buy the dip. Forget china news! Bitcoin will rally again!
China is putting out fake news to drop the price and they will buy all the cheap coins.
We are not stupid this is obvious and I will also buy the cheap coins thanks to China.
There's already an update with BIP91. It is stable but it is a good thing that we are warned about possible loss of confirmations, if you are willing to take the risk transacting bitcoin, the blame must be on you on the possible lapses that might take place.
Even i am completely not aware about bip91 how it change as far my iunderstanding block will be splitted to two and each will be 1 MB . So i already converted bitcoin to altcoins some into fiat currency.
Seems like the only problem is more confirmations.
If you're okay with waiting a bit longer, then that's fine.
But if you do not want to risk you bitcoin, then don't.
Just wait until everything get settled down.
If you're okay with waiting a bit longer, then that's fine.
But if you do not want to risk you bitcoin, then don't.
Just wait until everything get settled down.
I am not really bothered with the additional confirmations it would take for a transaction to get through, because as long as my transactions are successful, that wouldn't cause me to panic or make any unnecessary actions. I would just lessen my transaction count and wait out until the coast is clear. But right now, everything seems to be working the way it should, so I guess everybody should settle down and act accordingly.
hero member
Activity: 2912
Merit: 541
Leading Crypto Sports Betting & Casino Platform
its better to waiting until everything works fine then you try to make transaction. i think its not a big problem for us to waiting for a while because we don't know what will happen if we are want to make withdraw or deposit. i think its not a problem if from 1 confirmations become 6 confirmations because our transaction in the end will be arrive in destination wallet, so don't be too worried for this. there is no need to be afraid and it is worth to be patience until there is any statement that if we want to make transaction is clear and its run properly.
It would be better to avoid bitcoin transactions since there is a fear of hard fork during august 1.Also,withdraw your bitcoins from exchanges and keep it in your wallet safely as most exchanges may suspend deposits and withdrawals for 48 hours as they did early during ethereum hard fork.
Currently, I only hold a small amount of BTC in my Nicehash wallet (Mining earnings) and BitGo. I've also sold a small amount on Kraken and it's stored in Fiat currency. I guess I'm not facing any serious risk on 1st August
yes is good, don't save your Bitcoin in the online wallet if you do not want risk to lose your bitcoin. Converting coins into fiat money is a great way to avoid risk.
Should we do Bitcoin transactions at this time? Please understand if the increase and decrease of bitcoin itself, if it is profitable can transaksikan your money to bitcoin.
i would avoid to move your coins at least for the first week near 1 august, i also wonder what will exchange do, if everyone start to get his coins to his wallet, and no activity is done anymore on the market
This risk only affect you if you are receiving coins, not sending them (though if you are sending coins, the person you are sending them to will wait longer before acknowledging your transaction).
well if you are sending someone is receiving, and if he/she is affected than no one can make any transaction
This risk only affect you if you are receiving coins, not sending them (though if you are sending coins, the person you are sending them to will wait longer before acknowledging your transaction).
well if you are sending someone is receiving, and if he/she is affected than no one can make any transaction
I dont see any issues with transacting BTC besides waiting for 6 transactions. So people, I see again this old practice of spreading FUD for nothing. Actually, the whole purpose of these FUD posts is to increase post counts for sig campaigns.
People stop spreading FUD! BTC network works as usual.
People stop spreading FUD! BTC network works as usual.
BIP91 is activated and top of the forum it says
How long to wait till it's safe to do transactions?There are not much unconfirmed tx too https://blockchain.info/unconfirmed-transactions why people are not making transactions today
That is not exactly what it says, it says that you need to wait for 5 times more confirmations than usual before trusting transactions, if you needed 6 confirmations before trusting a transaction then that means that you need to wait for 30 confirmations, so if possible avoid transactions at the moment to avoid any kind of issue with your coins. Quote
News: Due to BIP91, it would starting now be prudent to require 5 times more confirmations than usual before trusting transactions.
Why do we have to trust transactions with 5+ more confirms and not 1?Is there a chance that i send some bitcoin at this moment and the bitcoins gets lost?How long to wait till it's safe to do transactions?There are not much unconfirmed tx too https://blockchain.info/unconfirmed-transactions why people are not making transactions today
Pretty useful this topic
I made some transaction now, and everything went well
Was thinking that it was too late to move the coins to a safe place.
I made some transaction now, and everything went well
Was thinking that it was too late to move the coins to a safe place.
So you mean i should wait 1 month to withdraw my coins from exchange to be safe
You can withdraw now if you want. You just need to wait for more confirmations than you usually would, that's all.UAHF is coming on august 1 and i want to hold coins all chains if bitcoin splits
Then you must withdraw your coins immediately. As far as I know, no exchanges have any plans to ever support any UAHF chain.EDIT: Typo
Right now I don't think people should be hindered from using their bitcoins. Just remember to store them independently in your own private keys before august 1 though. Also, since BIP 91 has locked in and theymos has set a warning that we should wait atleast 5 confirmations on our transactions as there could be problems.
Making transactions when BIP91 lock is very risky, many people are just dwelling and many also exchange who have done disable to deposit service and withhdraw they have. So this is a way to avoid unwanted things. Storing bitcoin securely with offline wallet is a priority, we certainly do not want to lose the bitcoin we have. 
Currently, I only hold a small amount of BTC in my Nicehash wallet (Mining earnings) and BitGo. I've also sold a small amount on Kraken and it's stored in Fiat currency. I guess I'm not facing any serious risk on 1st August
If possible, it is better to refuse transactions with bitcoin until all the difficulties that have arisen are resolved. This already has official warnings on the forum. Those who will do them, risk losing their digital money and will act at their own peril and risk.
We should as we have done always. Based on that recommendation since 5 confirmation are needed before trusting anyone, we have to use highest possible fees so 5 confirmations will be in a maximum of 15-35 minutes. I think we should be very careful when dealing with different exchanges, I am withdrawing everything I have there and waiting what will happen after August 1.
This is a smart move to withdraw your all fund in bitcoin to your wallet, because anything can happen in 1 august, so to be careful we should withdraw all our bitcoins from exchanging sites or any other investement sites. Anyways, As you said, we should increase a bite bitcoin transactions fees for being fast to confirm.
Well but always remember you'll be losing a few satoshis on moving your coins around. Nothing bad is going to happe and if anything bad should happen you'll not be shielded from it on August 1 irrespective of your wallet unless the exchange decides to rob you off your coins which I sincerely doubt.
Jump to: