Are you ready for the 1st August Bitcoin Storm called BIP148 UASF?

The so-called Bitcoin improvement proposals are standards for improving and upgrading Bitcoin network protocol. The BIP abortion comes from the English Bitcoin Improvement Proposal. This is by analogy with the RFC - Request for Comment adopted as a way of working the IETF - Internet Engineering Task Force to develop TCP / IP protocol standards on the Internet. Under No. 148 is a user-activated soft forks standard in the User Activated Soft Fork protocol(Bitcoin). What does this change necessitate? What does the ordinary user need to know?

Without going into technical details.

The largest mining pool is currently the Bitmain Chinese. Together with their daughter pools, they are now making fabulous gains from the transfer fees of half a million dollars a day. We only talk about charges without including 12.5 bitcoins for a block. That's why they fight fiercely against the change of status quo.

Bitcoin is being used more and more, and the fees for each translation start to grow tremendously. It suits them, and they do not want any changes. Bitcoin's users, however, want changes, such as the introduction of another Segregated Witness standard that will allow for truly revolutionary changes to enable Bitcoin to replace the existing financial system. These are Side Blocks and Lightning Network for Payments. The introduction of BIP 148 takes some of the miners' power and provides it to consumers. The August 1 date was set for this standard.

Most likely, as we approach this date, we will see even more abrupt movements in Bitcoin's price. There will be many people trying to catch fish in turbid water. This is the usual bitcoin situation, but now it will be even more. Millions of the ignorant will be lost and millions will be earned by the ignorant.

Resistance from some miners' pools may lead to a splitting of the Bitcoin block. That is, after Aug. 1 we can have essentially two coins called Bitcoin, each claiming to be the original. Until it is known which of these blocks will be necessary, the urgent advice to users is not to make any bitter translations after July 31 at least for one week.