PSA: Do NOT send Bitcoin Right Now

in #bitcoin3 years ago (edited)

Due to Segwitx2 Lockin and possible orphans and network freezes.

Many exchanges/services wont accept deposits and withdrawals now



TLDR; Pools signalining non-segwit blocks will be orphaned (we can even say reversed) as network wont accept them.

Trading works everywhere so if you need to move coins use STEEM, LTC or ETH for now.

Follow, Resteem and VOTE UP @kingscrown creator of http://fuk.io blog for 0day cryptocurrency news and tips!

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Thank you!

For now network seems allright - sending/receiving works.
most services moved to more confirmations now so deposits are slower

The wait is over now. Bitcoin transactions can be done now but has 7 confirmations now.

I think that it is safe to withdraw. A lot of exchanges are allowing it with 6 confirmations. Im trying to get mine out of Bittrex into cold storage right now.


http://www.FlippyCoin.com is the #1 Cryptocurrency Exchange!

Quick update, I got my withdrawal from Bittrex into my cold storage now.

Thanks for this valuable information I think this sigwit may not affect the price of bitcoin I mean bringing down the price.

Thanks for the update.

Thanks for sharing.

this post is to make your life easier it doesnt mean that theres no way to send ;)
but imagine 1000 people did wirthdrawal from exchange during this time and 100 were unlucky to get few times into non-segwit blocks.. then each makes ticket.

you are then stuck for a day or two without BTC.

better to sometimes wait

Yeah I'm keeping nearly everything in my Trezor right now. Even if there is a tiny risk at the moment. Not worth the risk!

I agree with you @kingscrown ..waiting time from today until August 15-20...or your coin is at risk..wait and see

think s follow me

YES IT IS OK TO SEND BTC, Because I did it before I read this article and it was successful.
thousands of people are making transactions right now and I am sure it is all going alright.

Yeah, took me 2 hour to transfer tho.

Is it advisable to buy bitcoin today or tom? Are prices going to be slashed?

I don't have any amount of bitcoin to send:(

Should get your first Bitcoins at a Bitcoin Faucet: www.claimbtcs.com

sounds like you were what they're called orphanitated or somethin

Everything seems to be alright for me. No problems here!

Why are there 5-6 confirmations involved? Crypto currency payment processes are not seamless. Is this because the people controlling the global money I mean the Warren Buffet and Peter Schiff who called Bitcoin 'Digital Fool's Gold'?

Digital Fool's Gold, lol. It has made a lot of people money though too. If nothing else it's a different way to pay for transactions, which is always a good thing.

Yes... But some exchange sites disabled the function

I don not really understand any of this but I am trying to learn.

We should wait for hard fork to pass. In the mean time we need to make sure our Bitcoin our safe with private keys. Don't do any transaction till all these get passed away.

@kingscrown

Funny you should mention it, waiting on coinbase right now.

BTW: Am I not seeing this correctly or are people not up-voting their own posts? I see lots of comments here and everywhere with no up votes. Do you all not like your own comments? @Jerrybanfield says it is ok to do.

: )

I am gonna up-vote myself right now. Let me know what's up!

#payitforward

I don't upvote all my posts because i don't want to waste my steem power on myself. Sometimes I will upvote myself it just depends I guess. thanks for the informative comment.

Hahaha. Just what we need, lessons on empathy from a machine. :))

Thanks for sharing!

BTC is going to sky rocket after August 1st!

why is that ?

Not if the major pools start moving hashrate to BCC! Antpool will probably put some of their ASICs on it. They have almost doubled their hashrate since the start of July. They have plenty to spare.

bitmain

Thanks a lot, I think this is a very useful imam for me. And also for my friends who have bitcoin. This I will continue to make another friend of mine. Once again thank you for your suggestions and informations. I wait for the next imformation from you @kingscrown

Thanks @kingscrown for sharing this important information.. we shall stop all BTC transactions till we get BIP91 confirmation.

Well, if you do not want to fall into a situation of orphan blocks, yes you should wait (or believe only in transactions with more than 101 verifications, to be sure it won't be undone). Otherwise, if you are ok with the risks, go ahead until 1 of August. Then after that, watch for news before doing anything.

I predict exchanges will win a great deal with this rollercoaster of changes/decisions/etc! Might indeed be a good time to trade using alternative crypto currencies. Interesting moments in the history of crypto. =)

Bitcoin after the 1st August
moon.jpg

Thank you very much for the heads up on this. Just going to go ahead and move BTC to a paper wallet now. This is something people need to know about. Re-Steemed

I did some transactions a few hours ago without any problems and in a short time...

It's probably fine for most people, but I get the advice that's being given here. For some people, it may be better to wait.

Could intensify, maybe it's better to be cautious.

I had a similar experience. Seems that all is well for now.

@Kingscrown is one of the few users who always posts high quality content and I have mad respect for you!

I have over 2700 Steem Power and I created this campaign which I hope will help improve content on Steemit:

I will upvote every constructive comment I get on Steemit with 5-10 cents in order to create a WIN-WIN-WIN.

You win by having me upvote and follow you, I win by having great comments and more followers and above all Steemit wins by getting better content.

Read about the rules and conditions here.

Please respond here or on my post with any feedback you have, thanks!

cant wait for it to be done already

So the fun and games begin. There is likely to be a lot more of this over the next few months, which means the price is likely to be all over the place.

Strap in and enjoy the ride!

Ah! That explains why NO one has

sent me any bitcoins lately... :P

Could it possibly bring downtrends in bitcoin value?

Thanks for the heads up.

Does this mean we can't buy BTC on platforms like Bitwala, or Bitoex, for example?

HODL all the coins :)

Awesome!

Lots of good news! Bitcoin seems to have a high target! I would say $5000 at least end of september!

good news

Thanks for the heads up man

Thank you! Do you know how long this will last?

I expect some people will find moving money with steem, ltc and doge so easy, they might never go back to that cumbersome thing that is bitcoin!

I transfer some BTC last night and it took 3 block comfirmation but I'll wait it out then.

I gave an upvote... don't really understand what that means... but it's cool! I was wondering as I was trying to do my first real exchange of Bitcoin last night on Shapeshift and it just wouldn't work. Finally did use another exchange and got it through to make my trade but... wow was I frustrated and thinking that I had done something soooooo wrong. Your post was an ahah moment! Thanks.

Bittrex works for me. I'm new too. I'm learning too. Good work with the ahah moment.

It seems good for now all works :) Resteemed!

That's not just a post. That's a Community Service 👍 Buck Up
Upvoted and Resteemed

I see good buying opportunities coming up at around 2000$.

I dont know if it will get that low but prolly around 2400-2500

I don't see $2000 coming again. :-)

Great post. Upvoted and followed. Please follow me as well.

Thanks for the timely heads up @kingscrown and I hope your post will save a lot of inconveniences. I will just resteem it for my followers. Thanks for the update.

does the last date of all matter is 3rd august beacuse i want to buy btc

Thanks for the headup !

Thank you for useful info @kingscrown
I was just doing a research about what to do with my BTC on different exchanges, whether leave them on exchanges or transfer them to my software wallet and keep them there until after 1st August. But, I can't withdraw any BTC anymore... :(

Crossing my fingers all goes well. Thanks for the advice @kingscrown

Is it safe now to transfer BTC?

wow thanks for the great info

I also obeserved that Cloud Mining is affected by this.

I checked my minergate account and its frozen to July 19th

image

Sounds like BTC value will be falling until this uncertainty works out.

Standing by to buy some cheap BTC

Does anyone know how can i convert my steemit money into usd ?? can i take money from steemit??

Important information,
thank you for sharing it
@kingscrown

Sending seems to be okay for now. On the 31st is when most major exchanges won't allow you to send out until the worst is over. You can still safely move your money right now though to keep it protected.

Thanks For the post really interesting! A
nd helped me understand a bit more :)

i reckon it will be $5000 soon after Aug1st is passed

Is Genesis Mining likely down as a similar precaution?
That's my hunch.

I tried using shapeshift this evening and got a message that they were halting operation of BTC txn until everything was back to normal. Changelly didn't seem to have the same attitude, they were still business as usual.

is everyting ok now?

helpful info thanks you

@maite hello spanish ☺️

So even converting steem to bitcoin is not a good thing to do right now?

I think not. I think you should wait maybe 2 weeks first or maybe more first.

upvote and like it

how long do you think will these turbulences take? i'm switching bitcoins to litecoin and few other cryptos but i'm not sure that this is the best way to handle it... :-/

You can store your Bitcoin in a hard wallet offline if you'd like to keep them. This way you can move them back into exchanges or online wallets that will still be on the legacy blockchain after the dust settles.

of course but i still dont trust the fork thing i don't wanna end up with 2 different coins... whatever we will see what happens

nice information.. thank you for sharing..

Thank you so much!!!
@hrswor

Thanks for coming. Crypto is good to use.

bitfinex waits for 7 confirmations. so it just takes a little bit longer. necessary precautions in these times.

Good for them. I have Bittrex but am not sure how they do things.

Thanks for the heads up!

Thanks for the info @kingscrown. I will do well to pass on the information to my subordinates ASAP.

I'm pretty new to this digital currency world. I've some bits in bittrex. Can you advise if its safe to move them to my Zebway Wallet? Or should I withdraw them completely? Thanks in advance

Now could you say all that in English so those of us new to all this can understand...please?

I saw that bittrex have disabled their bitcoin wallet.
I believe that other exchanges will do the same to ensure user protection. It seems like this has had some effect on the markets.
As @kingscrown said, it is best not to be trading with bitcoin around the 1st August.
Thanks for spreading the word! :)

What's the risk if you send now?

Thank you @kingscrown Thanks for sharing vital information .

Good to know, thanks!

thanks for the notification!

Thank you for informing. I really am reading every news that comes out. Please Upvote and follow. Check out my articles as I believe, we write on the same line.

Nice post and useful for me, follow me back

thanks for shairing Seems like chaos. Thanks for the information.

good artikel

thanks. upvoted. @jero1

Great post. Please read my biggest danger in crypto, would love your feedback -
https://steemit.com/cryptocurrency/@cryptocoinclub/blockfolio-addiction-help-group

Thanks for the heads up.

Great post 🔝

Up voted

Poloniex is accepting it, but maybe it's issue with some other exchanges. Anyways it will soon be updated. @kingscrown Thanks for sharing vital information

How is the situation looking regarding Bitcoin Cash? Hard Fork probable?

Hold the btc......Hold the btc..........

So far it has been good.

I think for low transaction its ok but don't take risk for huge amount.

@maite hello spanish ☺️ votes pliss

I guess i need this stuff.

👍
Follow me

Thanks for the great post! Very Informative!

Yes activated bip great info! Thanks

Thanks for the update! I will get the word spread... This could really mess people up if they got frozen out of their BTC holdings!

Thank you so much for updates !

So it is okay to send now or no? If no when is it safe to make a transfer again?

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