Bitcoin Fork issues | Bitcointalksearch.org

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legendary

Activity: 1372

Merit: 1032

All I know is that I know nothing.

do you realize that "Speculation" is for "Speculating" about price not for technical support?

Quote from: NiceSoft12 on December 29, 2017, 02:02:11 AM

So lately I heard that trying to take advantage of new bitcoin forks could potentially steal all your bitcoins?

Could someone please explain this?

there are two ways you can lose your bitcoins if you try to claim these coins:

1. if they don't have replay protection and you are sending coins to an address you don't control. this problem will be caught fast in the early days if it exists and the first people who will get hurt are the exchanges so they won't even list these coins.
solution: simply move your bitcoin before importing your private keys in the new wallet and trying to claim the coins

2. if you download malware instead of a forked-coin-wallet. something like a keylogger, or something that simply asks you to enter your private keys and then sends them to the attacker!
solution: move your bitcoins first and also never install any of these new wallets on your main system. use sandbox or a live linux or another system whichever you prefer. and always use offline signing the transactions.

mostkey

sr. member

Activity: 742

Merit: 253

your response is actually wrong. the intent here is not lost. but the problem or the way you claim a new coin from a fork. sometimes there are some people who are difficult to be able to claim it and for that you need a private key to be able to claim new coin

NUFCrichard

legendary

Activity: 1218

Merit: 1003

I did just that with the Bitcoin Gold fork. I wasn't so stupid as to put in the key from a full wallet, I emtpied it of Bitcoin first, but I lost my Bitcoin Gold as the official website pushed a scam wallet which wiped accounts.

Just be safe. These new currencies often bounce after a few weeks anyway, so you don't have to rush to be first in to sell by taking any kind of risk.

mcs_john

jr. member

Activity: 68

Merit: 1

Share your merit with me if I was helpful :)

To be able to claim the forked coin you need to put the private key or the seed into a wallet or a website for the new coin. This is strongly not recommended. What you can do is after the fork to move your bitcoins to a new wallet, wait for the transaction to confirm and then claim the forked coin using the old wallet.

NiceSoft12

sr. member

Activity: 433

Merit: 251

So lately I heard that trying to take advantage of new bitcoin forks could potentially steal all your bitcoins?

Could someone please explain this?

Topic: Bitcoin Fork issues (Read 136 times)