⚠️ PSA: What a Bitcoin fork means + simple precautions you can take to avoid any loss if the network splits by ummjackson

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bitcoin · @ummjackson · Jul 15 '17

$22.89

⚠️ PSA: What a Bitcoin fork means + simple precautions you can take to avoid any loss if the network splits

https://www.youtube.com/watch?v=Tfcc_LobM5o

Happy weekend Steemers!

With all the uncertainty swirling around lately I wanted to share a quick breakdown of how to prepare for a the potential upcoming Bitcoin fork. By following simple precautions you can minimize your risk and protect yourself from loss.

I'm confident the network will resolve itself in time but make sure that you 1. have those private keys secure and 2. avoid moving coins during or shortly after the fork to avoid any issues personally. 

Hope some people find this helpful! :)

👍 roadscape, steemrollin, kevinpham20, ummjackson, ibringawareness, crypto-economist, thoughtchain, gary-wood, teecharles, somecoolname, nicogalante1, paulthailand, aldyrestumaulana, mrphilipp, william-hatchell, thomasp, ylksunandar, jatinaus

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@gary-wood · Jul 15 '17

$0.06

Cool, watched your other video about mining whilst i think POW has been spoiled can't wait to see what the crowd think consensus means.

👍 gary-wood, jesta

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@somecoolname · Jul 15 '17

Nice post. Very useful information.

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@teecharles · Jul 15 '17

$0.36

Thank you thank you thank you so much for this explanation!  I'm new to this and I've been wondering what this bitcoin fork was all about.  Appreciate you man.

👍 ummjackson, teecharles

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@ummjackson · Jul 15 '17

No problem, thanks for the kind words - glad you found it helpful! :)

👍 teecharles

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@teecharles · Jul 15 '17

I feel like the best thing to do would be to cash out of Bitcoin in the meantime and buy back in if the price drops.  What do you think?

👍 teecharles

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