Are my bitcoins safe if I don't split them?

CryptoEnthused

member

Activity: 190

Merit: 15

Quote from: AdolfinWolf on December 11, 2017, 01:44:10 PM

Indeed, because the transaction signature and hash will be the same on both chains.

Someone could then copy the signature + hash to spend the same amount on the other chain.

Lets say you have Bitcoin X and Bitcoin Y. Bitcoin Y just forked so all the UTXO's on Bitcoin X are also present on Bitcoin Y. ( Bitcoin Y has no replay protection).

You try to send 1 Bitcoin X to your exchange adress, that bitcoin X generates a valid hash + signature, ( for the transaction to confirm.).

Now that hash + signature will also be valid on the Bitcoin Y chain, meaning that anyone could copy it, and sent/transact your Bitcoin Y.

Note that the amount must be exactly the same ( otherwise the hash/signature would be invalid again.)

There's some interesting answers on how to prevent them here - > https://bitcoin.stackexchange.com/questions/52210/what-is-the-best-way-to-prevent-replay-attacks-in-the-event-of-a-bitcoin-hard-fo/52260#52260

Thanks. The best description I've seen so far. Very explicitly and short

AdolfinWolf

legendary

Activity: 1946

Merit: 1427

Quote from: CryptoEnthused on December 11, 2017, 11:33:15 AM

Quote from: Bitfort on December 10, 2017, 04:09:18 PM

No. If you send your bitcoins to anyone you lose them. He becomes the owner of those bitcoins.
No, If you sent bitcoins out the bitcoin diamonds (and other forks) will stay on the original address ( but if you give him your privatekey then he can get all the coins on that wallet BTC, BTG , BCH... all of them)

To sum up. PRIVATEKEY IS THE KEY TO YOUR COINS (all of them) ... so when privatekey is not compromised, you are safe.

That's different from what I heard. What about a replay attack? Can you explain how this happens? I just heard, that if you don't split the coin, then when you send bitcoin, someone can steal your forked coins or something like that. I'm really confused about this part. How that replay attack happens exactly

Indeed, because the transaction signature and hash will be the same on both chains.

Someone could then copy the signature + hash to spend the same amount on the other chain.

Lets say you have Bitcoin X and Bitcoin Y. Bitcoin Y just forked so all the UTXO's on Bitcoin X are also present on Bitcoin Y. ( Bitcoin Y has no replay protection).

You try to send 1 Bitcoin X to your exchange adress, that bitcoin X generates a valid hash + signature, ( for the transaction to confirm.).

Now that hash + signature will also be valid on the Bitcoin Y chain, meaning that anyone could copy it, and sent/transact your Bitcoin Y.

Note that the amount must be exactly the same ( otherwise the hash/signature would be invalid again.)

There's some interesting answers on how to prevent them here - > https://bitcoin.stackexchange.com/questions/52210/what-is-the-best-way-to-prevent-replay-attacks-in-the-event-of-a-bitcoin-hard-fo/52260#52260

CryptoEnthused

member

Activity: 190

Merit: 15

Quote from: Bitfort on December 10, 2017, 04:09:18 PM

No. If you send your bitcoins to anyone you lose them. He becomes the owner of those bitcoins.
No, If you sent bitcoins out the bitcoin diamonds (and other forks) will stay on the original address ( but if you give him your privatekey then he can get all the coins on that wallet BTC, BTG , BCH... all of them)

To sum up. PRIVATEKEY IS THE KEY TO YOUR COINS (all of them) ... so when privatekey is not compromised, you are safe.

That's different from what I heard. What about a replay attack? Can you explain how this happens? I just heard, that if you don't split the coin, then when you send bitcoin, someone can steal your forked coins or something like that. I'm really confused about this part. How that replay attack happens exactly

Mayorlopez215

newbie

Activity: 42

Merit: 0

Thanks I really appreciate your answers, I will try and make some research about that too, so I can have more knowledge about it and some other things too

AdolfinWolf

legendary

Activity: 1946

Merit: 1427

Quote from: Mayorlopez215 on December 10, 2017, 05:01:19 PM

Quote from: Bitfort on December 10, 2017, 04:09:18 PM

No. If you send your bitcoins to anyone you lose them. He becomes the owner of those bitcoins.
No, If you sent bitcoins out the bitcoin diamonds (and other forks) will stay on the original address ( but if you give him your privatekey then he can get all the coins on that wallet BTC, BTG , BCH... all of them)

To sum up. PRIVATEKEY IS THE KEY TO YOUR COINS (all of them) ... so when privatekey is not compromised, you are safe.

Thanks with the information and please I have a question, what is bitcoin diamond?

Bitcoin diamond is a forked version of bitcoin -- meaning that, if you had bitcoins at the time of the snapshot, you will also have bitcoin diamond. ( X10 in this case.) ( Forgot to mention that this is dependant on the fork -- as to whether or not you will get coins..)

These forks are usually done to improve/change a certain aspect of bitcoin. Bitcoin cash for example changed blocksizes, bitcoin gold changed how bitcoins are mined (Equihash).

http://www.btcd.io/

It looks like they want to improve, according to their website:

Quote

*Protection of privacy
*Reducing the cost of transfer
* Reducing the cost of participation

Bitfort

sr. member

Activity: 952

Merit: 339

invest trade and gamble wisely

Quote from: Mayorlopez215 on December 10, 2017, 05:01:19 PM

Quote from: Bitfort on December 10, 2017, 04:09:18 PM

No. If you send your bitcoins to anyone you lose them. He becomes the owner of those bitcoins.
No, If you sent bitcoins out the bitcoin diamonds (and other forks) will stay on the original address ( but if you give him your privatekey then he can get all the coins on that wallet BTC, BTG , BCH... all of them)

To sum up. PRIVATEKEY IS THE KEY TO YOUR COINS (all of them) ... so when privatekey is not compromised, you are safe.

Thanks with the information and please I have a question, what is bitcoin diamond?

Useless thing. It's another BTC fork (same as bitcoin cash and bitcoin gold) ... search for more.

Mayorlopez215

newbie

Activity: 42

Merit: 0

Quote from: Bitfort on December 10, 2017, 04:09:18 PM

No. If you send your bitcoins to anyone you lose them. He becomes the owner of those bitcoins.
No, If you sent bitcoins out the bitcoin diamonds (and other forks) will stay on the original address ( but if you give him your privatekey then he can get all the coins on that wallet BTC, BTG , BCH... all of them)

To sum up. PRIVATEKEY IS THE KEY TO YOUR COINS (all of them) ... so when privatekey is not compromised, you are safe.

Thanks with the information and please I have a question, what is bitcoin diamond?

Bitfort

sr. member

Activity: 952

Merit: 339

invest trade and gamble wisely

No. If you send your bitcoins to anyone you lose them. He becomes the owner of those bitcoins.
No, If you sent bitcoins out the bitcoin diamonds (and other forks) will stay on the original address ( but if you give him your privatekey then he can get all the coins on that wallet BTC, BTG , BCH... all of them)

To sum up. PRIVATEKEY IS THE KEY TO YOUR COINS (all of them) ... so when privatekey is not compromised, you are safe.

CryptoEnthused

member

Activity: 190

Merit: 15

I'm really concerned about my money. Can I send my bitcoins to anyone without risk of losing my bitcoins? As I understand If i send my bitcoins, then someone can claim only my bitcoin diamond?
Also, what happens if I send my bitcoin to my own another address, can some still steal my bitcoin diamond?
I can't fully understand how replay attack works. Hope the community can help figure it out

Topic: Are my bitcoins safe if I don't split them? (Read 255 times)