Hello,
I'm a bit confused about the whole Bitcoin hard forks and up coming forks.
As i understand it Bitcoin got Segwit but few supports it, why? This was big news and what i thought was going to make Bitcoin better/faster. Sadly Bitcoin is the same as before all the forks. Lightning network and other updates can be implanted to Bitcoin but that is not available right now, so why not start with using Segwit?
I thought we were going to have 3 hard forks. Bitcoin Cash, Bitcoin Gold and Segwit 2x. I recently heard of Bitcoin Diamond, Bitcoin God. Anyone can create a coin but can anyone also give Bitcoin holder "free money"?
I'm a bit confused about the whole Bitcoin hard forks and up coming forks.
As i understand it Bitcoin got Segwit but few supports it, why? This was big news and what i thought was going to make Bitcoin better/faster. Sadly Bitcoin is the same as before all the forks. Lightning network and other updates can be implanted to Bitcoin but that is not available right now, so why not start with using Segwit?
I thought we were going to have 3 hard forks. Bitcoin Cash, Bitcoin Gold and Segwit 2x. I recently heard of Bitcoin Diamond, Bitcoin God. Anyone can create a coin but can anyone also give Bitcoin holder "free money"?
Yes, anyone can fork the Bitcoin chain and make a new coin (a.k.a. split). So, in short, yes, if you have Bitcoin at the moment of the fork, you can claim the altcoin coming out from the fork after that. But in order to do it you need to have full control of your private keys. Also, there could be some exchanges which do all the process automatically on their own.
This whole "forking" business has me a little confused. Not so much the why but more how do I claim the new "forked" coins. It is my understanding that I should get as many of the new coins as I have of the original BTC. What confuses me is...
A. Can I claim the new "forked" coin if I am using a Paper wallet (with private keys)?
B. How do I go about claiming the "forked" coin using my paper wallet?
I never really wanted to trust exchanges to keep my Crypto Currencies in their online wallets. It scares me. I feel more in control when I can log my computer off the internet, generate a key for a paper wallet, and send my coins from the exchange to the wallet. I do this as soon as I can. When I'm done trading the coin it goes to my paper wallet FAST. Call me crazy but I think it's the safest way to keep from getting hacked.
So, anyway.... Does anyone have any experience in claiming coins from a BitCoin Fork??? The sites I look at for the new coins created by the fork don't say anything about how to get said coins.
Thoughts???
