How to secure your Bitcoin in a BIP148 supported wallet

in #bitcoin7 years ago (edited)

There is a lot of speculation of the upcoming August 1st date, due to the SegWit debate BIP148 will be activated. I wish to educate the many new users of Bitcoin on how to make sure that their assets are secured.

BIP148 is a UASF (user activated soft fork) that is designed to cause the existing SegWit MASF deployment to cause activation in all existing SegWit capable node software (which currently is 80% of the network nodes). How does BIP148 Work? From August 1st, 2017, miners are required to signal readiness for SegWit by creating blocks with the version bit 1. This will cause all SegWit ready nodes, which make up over 80% of the network, to activate and begin enforcement. Link for reference: luke.dashjr.org/programs/bitcoin/files/charts/segwit.html. Miners must also check blocks prior to their own and ensure that they also signal for SegWit, and only build on those blocks

In order to secure your Bitcoin you must either keep them in a hardware wallet, such as Trezor or Ledger Nano.

https://www.ledgerwallet.com/
https://trezor.io/

But if you are not willing to spend around 80USD for a hardware wallet an alternative solution is to use a BIP148 supported online wallet. So far the wallets that are ready to support BIP148 or will in the near future are: Electrum, Altana, Mycelium, Samourai Wallet and Simple Bitcoin Wallet.

https://electrum.org/#home
https://play.google.com/store/apps/details?id=it.inbitcoin.altana
https://mycelium.com/
https://samouraiwallet.com/
https://play.google.com/store/apps/details?id=com.btcontract.wallet

Obviously the best option is to buy a hardware wallet and remember to NOT LEAVE YOUR BITCOIN ON EXCHANGES ON AUGUST 1ST. If you wish to verify the information that i have provided here or further investigate the matter http://www.uasf.co/ is the best place to learn about the future of your Bitcoin.

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