There is a possible change coming to Bitcoin around August 1. After this time, the price will most probably go up on Bitcoin and the other cryptocurrencies as well. However, if the change occurs, people with Bitcoin on Coinbase.com or GDAX.com may find that they are not able to profit from a second coin that others will get for free.
So, to be safe, by Friday, July 28, 2017, move any Bitcoin you have on Coinbase.com or GDAX.com to Kraken.com or to a blockchain.info wallet.
ALSO, do not trade, send or withdraw any Bitcoin from July 31 to August 3.
If you want to learn more about this, you can find it here in my book
Currently, Bitcoin can handle about five transactions per second. That was fine in Bitcoin’s infancy. However, if you compare it to Visa’s average of 2,000 transactions per second, you can see Bitcoin’s capacity is not enough for the future and it’s causing Bitcoin transactions to take a long time.
Continue reading “What’s happening on or before August 1 that you must know about?”
The August 1 change could be a blessing or a curse for you. Read on!
Continue reading “What does the August 1 change mean to you?”
I am expecting Bitcoin and altcoins to maintain current price levels or drop until the debate on SegWit is decided. Then I expect a very quick rise and for Bitcoin to trade over $3000 before the end of the year.
I expect that SegWit will be accepted. On the Bitfinex exchange, you can buy tokens for only one of the possible future coins. People are paying $2250 for Bitcoins after SegWit and $235 for new Bitcoin Unlimited coins. That means the vote is nine times larger for adopting SegWit.
Next: What to do about the August 1 change
If you buy and hold Bitcoin on a website exchange, such as Kraken.com, or in an online wallet. such as Blockchain.info, you will not know about private keys because you do not need to. While they are there behind the scenes, the exchange or online wallet is handling them for you. However, if you have or plan to hold Bitcoins on a smartphone wallet, you do have to know something about them.
Continue reading “Experts are saying to prepare for the August 1 change, you should have control of your private key. So, what is a private key?”