Why is everyone freaking out about August 1st? What should I do with all my shitcoins? Why? Can someone explain?
What the hell happens?
BTC forks
Why is it forking? What does a fork mean? Sorry new/
Relax. As we approach that date, we'll tell you what to do.
I can't relax... should I turn my shitcoins into Bitcoin and download them onto a wallet? Im scarreeed KAPPA
Not necessarily, only a small portion of miners and users are planning to fork (Approximately 10%-20%). Their hoping that with this small portion beginning the fork (implementing SEGWIT) that they will gain enough traction to secure 51% and force a fork towards SEGWIT activation.
There's a huge possibility that this attempt will just end in FUD and they will gain no traction effectively achieving nothing. One reason why this will end in FUD is that there is more than enough porcessing power to cancel out their attempt as is.
So we get to live with long confirmation times forever?
People are talking about this day effecting ether as well why is that?
Everyone just read this please
medium.com
Make sure every wallet you're dealing with (ESPECIALLY FUCKING EXCHANGES) have PROPERLY implemented bip 148 support as well as legacy. If the chains re-merge, transactions will be LOST.