Topic: Aug 1 summary - page 45. (Read 96452 times)

I have a question, as I do have Coins in my BlockChain wallet, so can I get the BCH? I have seen different opinions on this.

What wallet would you recommend for BCH ?

If so it would be better to make BCH claim after 10 August.

Which one you prefer suggestion better, Install a BCash wallet on computer or use a Web-based wallet / wallet exchanges?

Some e-wallets (eg. Coinbase) will have just destroyed or taken for themselves the BCH that you should've been entitled to. That's partly why we've been warning people to exit hosted wallets. Some others might still credit you your BCH later.


They will be the same addresses. On the Bitcoin network and in a Bitcoin wallet, they will be empty. On the Bcash network and for Bcash wallets, they will still have the same balance that they had around 14:00 UTC.


Yes, you should in that case open the wallet in Bitcoin wallet software again. A Bcash wallet won't see those transactions.

I recommend phasing out your old addresses, since I don't trust the security of Bcash wallets that you'll be giving your private keys to. If it would be difficult to phase out your old addresses, then I don't particularly recommend using this method of claiming your BCH. Other methods that don't involve giving your private keys to a Bcash wallet will become available in the coming weeks.


The exact moment of the split was not 12:20 or 14:00, but sometime between those. I haven't figured out yet when the exact split time was, though. I think that 12:22 was probably pre-split.

Executive summary

Bitcoin is working fine and you can use it as you were before, possibly with slightly more reorg risk for a while.

Continuing risks

Although I am giving a general "all clear" at this point because the risk of serious issues has dropped substantially, some turbulence is still possible due to BIP91/BIP148 and the rollout of SegWit:

 - If you are using a full-node wallet (eg. Bitcoin Core), you should require 30 confirmations for high-value, untrusted incoming transactions until SegWit locks in around Aug 10. Although seemingly quite unlikely at this point, it is possible that miners could fail to enforce BIP91/BIP148, which could cause very long reorgs (ie. confirmations could disappear, allowing double-spending). This seems unlikely enough that I probably wouldn't require extra confirmations for "normal" transactions, but if you absolutely cannot tolerate any particular transaction being reversed, then waiting for 30 confirmations would be most prudent.
 - If you are using a lightweight wallet, you should require 30 confirmations for all untrusted incoming transactions until SegWit locks in around Aug 10, and again for a couple of weeks after SegWit finally activates around Aug 24. Long reorgs or even persistent splits are possible if miners fail to properly enforce the rules of BIP91, BIP148, or SegWit, and lightweight wallets are particularly poor at handling such things because they will blindly accept invalid, probably-soon-to-be-orphaned blocks.
 - I don't recommend putting much BTC on hosted wallets / exchanges generally. Exactly how the above risks would be translated to these services will vary depending on how each service handles deposits, reorgs, and double-spends.

Thanks for this timely response on that issue this is much appreciated. As I understand now it's safe to move bitcoin from one to another address or We have wait for few more time?

Although I am giving a general "all clear" at this point because the risk of serious issues has dropped substantially, some turbulence is still possible due to BIP91/BIP148 and the rollout of SegWit:

 - If you are using a full-node wallet (eg. Bitcoin Core), you should require 30 confirmations for high-value, untrusted incoming transactions until SegWit locks in around Aug 10. Although seemingly quite unlikely at this point, it is possible that miners could fail to enforce BIP91/BIP148, which could cause very long reorgs (ie. confirmations could disappear, allowing double-spending). This seems unlikely enough that I probably wouldn't require extra confirmations for "normal" transactions, but if you absolutely cannot tolerate any particular transaction being reversed, then waiting for 30 confirmations would be most prudent.
 - If you are using a lightweight wallet, you should require 30 confirmations for all untrusted incoming transactions until SegWit locks in around Aug 10, and again for a couple of weeks after SegWit finally activates around Aug 24. Long reorgs or even persistent splits are possible if miners fail to properly enforce the rules of BIP91, BIP148, or SegWit, and lightweight wallets are particularly poor at handling such things because they will blindly accept invalid, probably-soon-to-be-orphaned blocks.
 - I don't recommend putting much BTC on hosted wallets / exchanges generally. Exactly how the above risks would be translated to these services will vary depending on how each service handles deposits, reorgs, and double-spends.

How to determine what is bitcoin choose e-wallet if they do not misleading? The price in the purse is worth BTC. Maybe altcoins from BTC-splitting can be used only those who kept their savings offline on the computer?

1. If I import the private keys from my old, now-empty Bitcoin wallet into the new Bcash wallet, does this mean that the my new Bcash wallet will have the old BTC addresses, which are now empty?

2. If someone were to send me BTC to my old BTC address, I could still use my old wallet to retrieve those coins, right?

So my question is; would they honor by giving me bch or bcc which ever they are distributing out to the holders of bitcoin at the time of the split?

2. Create a totally new logical wallet with a new mnemonic, etc. Just creating new addresses is not sufficient: the new wallet needs to be completely separate from the old one. The new wallet's private keys should be under your personal control just in case your transaction is replayed or something else goes wrong. Make sure you have backups of the new wallet.
 3. Send all of the BTC in your old wallet to your new wallet, and wait until this transaction has 30 confirmations. (If you are really itching to get your BCH, it would not be totally crazy to wait for as few as 3 confirmations, but there is some risk with that.) Note that sending all of your BTC in a single transaction is likely to be harmful to your privacy; if you care about this, you might want to send it in several smaller transactions to several different addresses on the new wallet.
 4. On a separate computer that you wouldn't too much mind being compromised, install a BCash wallet such as one of the ones listed on bitcoincash.org. (Warning: some Bcash wallets are known to overwrite important files belonging to their Bitcoin counterparts.) Or use a Web-based exchange/wallet supporting Bcash. Import the private keys from your old, now-empty Bitcoin wallet into this Bcash wallet. Now you have BCH which you can handle as you wish. Note that BCH transactions may be very slow to confirm for a couple of days.