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Topic: Blockchain.info supporting segwit2x question (Read 1827 times)

hero member
Activity: 3136
Merit: 591
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November 05, 2017, 05:57:50 PM
#17
Blockchain.info did not announcement on Bitcoin Cash, but after months they gave Bitcoin Cash, so do not be surprised at the wallet that you trust for him.
Let's assume that the same thing will happen with Segwit2x and as well with the bitcoin gold fork. They are late on announcing of giving those fork coins to their users and for some, they are complaining that it's quite late to announce it. Anyone out there that has a signal or link/news about blockchain.info's status regarding this upcoming fork?
sr. member
Activity: 2506
Merit: 368
November 05, 2017, 05:45:23 PM
#16
you should not be storing your coins on blockchain.info in first place. specially if you have large amounts of bitcoin.

start looking into cold storage types and choose one for yourself. hardware wallets are good if you want to spend money and buy one, paper wallet is also good if you don't want to spend money and want to store bitcoin for long term.
and move your coins there.

read this for more details about wallets: https://bitcointalksearch.org/topic/general-bitcoin-wallets-which-what-why-1631151

I have read that spending bitcoins immediately after segwit2x's fork can result in losing the same amount in the other blockchain,
so I will move my funds to a paper wallet and just wait.  Grin

Thank you for the useful link !  Wink


Before and after the hardfork is happening, do not send/withdraw your money from any exchanges because it will likely not to support you of what is happening to your bitcoins if the forks is still going. And yeah putting your on a desktop wallet will keep your coins untouchable with any other sources of forks. Please be wary that it is important too to write your private keys to a piece of paper that you and your trusted person knows only. This is for the rare cases if something might happen either one of you so your coin is still recoverable.
hero member
Activity: 1400
Merit: 536
November 03, 2017, 03:49:07 AM
#15
Blockchain.info did not announcement on Bitcoin Cash, but after months they gave Bitcoin Cash, so do not be surprised at the wallet that you trust for him.
member
Activity: 73
Merit: 10
November 02, 2017, 08:58:02 AM
#14
you should not be storing your coins on blockchain.info in first place. specially if you have large amounts of bitcoin.

start looking into cold storage types and choose one for yourself. hardware wallets are good if you want to spend money and buy one, paper wallet is also good if you don't want to spend money and want to store bitcoin for long term.
and move your coins there.

read this for more details about wallets: https://bitcointalksearch.org/topic/general-bitcoin-wallets-which-what-why-1631151

I have read that spending bitcoins immediately after segwit2x's fork can result in losing the same amount in the other blockchain,
so I will move my funds to a paper wallet and just wait.  Grin

Thank you for the useful link !  Wink

newbie
Activity: 6
Merit: 0
Thank you everyone for your suggestions, i really appreciate it.
i will be moving funds to either exodus or electrum.
hero member
Activity: 2562
Merit: 586
If you really want to be safe I wouldn't keep your funds on Blockchain. I'd (at least temporarily) move them to a wallet where you are fully in control (something like electrum or bitcoin core). You can always decide to move back your funds after the fork. If they would still support the legacy chain.
Bitcoin core is a very heavy desktop wallet, so electrum is just perfect being a light weight desktop wallet. However, exodus too has really proven itself as one awesome desktop wallet most especially with their multi currency and the fact that it is decentralized, making you have full control of your funds. You might want to consider that, but make sure your PC is safe from virus and you have a good anti virus in place.
hero member
Activity: 3024
Merit: 745
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you should not be storing your coins on blockchain.info in first place. specially if you have large amounts of bitcoin.

This has been normal nowadays, people don't want to spend time looking for the wallets where they can secure their bitcoins. And everyone's confident with the security of blockchain.info as a web wallet.
legendary
Activity: 1330
Merit: 1019
Ok so as blockchain had posted recently that they are supportimg segwit2x, and they said they will supporting the coin with least difficulty.
So if someome bas funds in blockchain in btc , would that btc convert to the newer coin and we will be losing our bitcoins as they will be replaced by the new currency?

You guys can read it on blockchain blog where they update the news or u can check their twitter.

Please elaborate on it. Should i move my btc to some other wallet before the fork? Or is it safe to keep btc there?
Bcz i would like to keep bitcoins instead of the other coin.

Any help would be appreciated
Thanks
Firstly, storing your assets in a web wallet before a fork is a bad idea, most especially not the upcoming controversial 2x fork. It is still very possible to move your assets noe to at least a desktop wallet (exodus or electrum) so you can have access to your private keys and know how to control your own funds anytime, most especially after the fork. This is in your best interest.
sr. member
Activity: 553
Merit: 250
Until now there has been no official statement about segwit2x from all web wallet including blockchain.info, hopefully no serious problems so we do not need to sell bitcoin that sometimes the price drop.
full member
Activity: 518
Merit: 145
Please elaborate on it. Should i move my btc to some other wallet before the fork? Or is it safe to keep btc there?
Bcz i would like to keep bitcoins instead of the other coin.

Any help would be appreciated
Thanks

Technically, you have access to the private keys on Blockchain.info. So as long as you do not push any transactions using the Blockchain.info service, you cannot lose anything. You can log in, export your private keys and recovery seed, and import them into a desktop wallet like Core, which won't interact with the B2X chain.

It's not totally clear to me what Blockchain plans to do at fork time. It sounds like they intend to temporarily support the minority hash rate coin for withdrawal/exchange, but I'm not sure how this will work in practice, especially if it is not very clear early on which chain will have the most cumulative work.

Alright mate , i have the 12 phrase key provided by blockchain.
I hope everything stays safe if not then i'd switch to some paper wallet before the fork

If you do not have a PC to at least switch to a desktop wallet, then paper wallet is good and very safe as long as you can store it in a very private place. Also, even if you have a PC, you should be careful installing a desktop wallet if you know your PC is not safe or you are not very sure how safe it is from malware and virus. Cause the safety of your assets in your desktop wallet is dependent on the PC safety. However, I will recommend exodus wallet if you wish to consider a desktop wallet.
legendary
Activity: 2128
Merit: 1293
There is trouble abrewing
you should not be storing your coins on blockchain.info in first place. specially if you have large amounts of bitcoin.

start looking into cold storage types and choose one for yourself. hardware wallets are good if you want to spend money and buy one, paper wallet is also good if you don't want to spend money and want to store bitcoin for long term.
and move your coins there.

read this for more details about wallets: https://bitcointalksearch.org/topic/general-bitcoin-wallets-which-what-why-1631151
full member
Activity: 294
Merit: 125
Alea iacta est
If you really want to be safe I wouldn't keep your funds on Blockchain. I'd (at least temporarily) move them to a wallet where you are fully in control (something like electrum or bitcoin core). You can always decide to move back your funds after the fork. If they would still support the legacy chain.
newbie
Activity: 6
Merit: 0
Please elaborate on it. Should i move my btc to some other wallet before the fork? Or is it safe to keep btc there?
Bcz i would like to keep bitcoins instead of the other coin.

Any help would be appreciated
Thanks

Technically, you have access to the private keys on Blockchain.info. So as long as you do not push any transactions using the Blockchain.info service, you cannot lose anything. You can log in, export your private keys and recovery seed, and import them into a desktop wallet like Core, which won't interact with the B2X chain.

It's not totally clear to me what Blockchain plans to do at fork time. It sounds like they intend to temporarily support the minority hash rate coin for withdrawal/exchange, but I'm not sure how this will work in practice, especially if it is not very clear early on which chain will have the most cumulative work.

Alright mate , i have the 12 phrase key provided by blockchain.
I hope everything stays safe if not then i'd switch to some paper wallet before the fork

One note on this. Did you have a "legacy" Blockchain.info wallet? They integrated HD wallets sometime in the last year. If you had a wallet with them before the change occurred, your wallet now has two sets of addresses:

1) "My Bitcoin Wallet" -- the private keys to the addresses in this wallet can be recovered by the 12-word seed.
2) "Imported Bitcoin Addresses" -- the private keys to these addresses are not backed up by the 12-word seed. If you have coins in these addresses, you'll need to export the private key separately for each one.

Yes i moved my coins from imported coins to " my bitcoin wallet"
And i have the phrase to this new wallet.
But is it safe to keep my bitcoins here before the fork happens?
Bcz i read that bitcoin might change into some other coin and ill lose alot of value.
legendary
Activity: 1806
Merit: 1521
Please elaborate on it. Should i move my btc to some other wallet before the fork? Or is it safe to keep btc there?
Bcz i would like to keep bitcoins instead of the other coin.

Any help would be appreciated
Thanks

Technically, you have access to the private keys on Blockchain.info. So as long as you do not push any transactions using the Blockchain.info service, you cannot lose anything. You can log in, export your private keys and recovery seed, and import them into a desktop wallet like Core, which won't interact with the B2X chain.

It's not totally clear to me what Blockchain plans to do at fork time. It sounds like they intend to temporarily support the minority hash rate coin for withdrawal/exchange, but I'm not sure how this will work in practice, especially if it is not very clear early on which chain will have the most cumulative work.

Alright mate , i have the 12 phrase key provided by blockchain.
I hope everything stays safe if not then i'd switch to some paper wallet before the fork

One note on this. Did you have a "legacy" Blockchain.info wallet? They integrated HD wallets sometime in the last year. If you had a wallet with them before the change occurred, your wallet now has two sets of addresses:

1) "My Bitcoin Wallet" -- the private keys to the addresses in this wallet can be recovered by the 12-word seed.
2) "Imported Bitcoin Addresses" -- the private keys to these addresses are not backed up by the 12-word seed. If you have coins in these addresses, you'll need to export the private key separately for each one.
newbie
Activity: 6
Merit: 0
Please elaborate on it. Should i move my btc to some other wallet before the fork? Or is it safe to keep btc there?
Bcz i would like to keep bitcoins instead of the other coin.

Any help would be appreciated
Thanks

Technically, you have access to the private keys on Blockchain.info. So as long as you do not push any transactions using the Blockchain.info service, you cannot lose anything. You can log in, export your private keys and recovery seed, and import them into a desktop wallet like Core, which won't interact with the B2X chain.

It's not totally clear to me what Blockchain plans to do at fork time. It sounds like they intend to temporarily support the minority hash rate coin for withdrawal/exchange, but I'm not sure how this will work in practice, especially if it is not very clear early on which chain will have the most cumulative work.

Alright mate , i have the 12 phrase key provided by blockchain.
I hope everything stays safe if not then i'd switch to some paper wallet before the fork
hero member
Activity: 756
Merit: 502
CryptoTalk.Org - Get Paid for every Post!
Please elaborate on it. Should i move my btc to some other wallet before the fork? Or is it safe to keep btc there?
Bcz i would like to keep bitcoins instead of the other coin.

Any help would be appreciated
Thanks

Technically, you have access to the private keys on Blockchain.info. So as long as you do not push any transactions using the Blockchain.info service, you cannot lose anything. You can log in, export your private keys and recovery seed, and import them into a desktop wallet like Core, which won't interact with the B2X chain.

It's not totally clear to me what Blockchain plans to do at fork time. It sounds like they intend to temporarily support the minority hash rate coin for withdrawal/exchange, but I'm not sure how this will work in practice, especially if it is not very clear early on which chain will have the most cumulative work.
newbie
Activity: 6
Merit: 0
Ok so as blockchain had posted recently that they are supportimg segwit2x, and they said they will supporting the coin with least difficulty.
So if someome bas funds in blockchain in btc , would that btc convert to the newer coin and we will be losing our bitcoins as they will be replaced by the new currency?

You guys can read it on blockchain blog where they update the news or u can check their twitter.

Please elaborate on it. Should i move my btc to some other wallet before the fork? Or is it safe to keep btc there?
Bcz i would like to keep bitcoins instead of the other coin.

Any help would be appreciated
Thanks
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