Potential Bitcoin network disruption on August 1st

If you are active in crypto news world you should’ve heard by now that August 1st will be an important day in Bitcoin scaling timeline.

August 1st marks date for UASF BIP148 activation and Bitcoin users are getting prepared for potential block chain split and consequences this could bring to the network. A lot of companies are already supporting this change and preparing for it, yet there are many wallets and exchanges who have not shown such signs.

Bitcoin.org announced on Wednesday July 12th, 2017 that on July 31st:

Bitcoin confirmation scores may become unreliable for an unknown length of time. This means than any bitcoins you receive after that time may later disappear from your wallet or be a type of Bitcoin that other people will not accept as payment.

A lot of big companies like GDAX are issuing statements saying that they will temporarily suspend deposits and withdrawals for bitcoin until picture clears out and one chain becomes dominant or there are 2 community adopted ones.

Due to this make sure your bitcoins are stored safely with wallet that supports all possible outcomes and it is advised not to make any transactions during July 31st — August 2nd.

~ SC

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