Topic: Can someone confirm this is a correct way to dump BCH coming from Bitcoin Core? (Read 806 times)

Your email address, an username and a password. They might ask you to confirm if you are a US resident.

You don't need to provide any identifying data. There are no withdrawal limits, although large withdrawals may require accessing their cold storage, and if you had recently disabled certain security settings, or changed/reset your password in the last 5 days, withdrawals may be delayed/disabled for 5 days.

Do you know what kind of information you need to handle to Bitfinex to make crypto to crypto transactions?

With Bittrex it used to be none, but now, Bittrex is asking about real name, place of birth, address... and a lot of other things, and if you try to fake them, you can't beecause they check against public records, and then if they don't match your account becomes blocked and they ask for a phone SMS confirmation. I think this is ridiculous for crypto to crypto transactions.

Not sure how Bitfinex works. Can you register without any data, and if yes, what is the limit of BTC withdraw per day?

Bitfinex allows customers to generate new deposit addresses at (near) unlimited frequency (I am fairly confident there is some limit, I just don't know what it is -- you should be find generating a new deposit address for each deposit you make). I am not sure about any other exchange that supports BCH.

I believe that Bitcoin Cash consensus rules say that block 478559 (?) must be <1MB, so you will need to get your node to validate the blockchain at least from that point. I am not familiar with the Bitcoin Cash full node client to know if this is possible, and if so how to do this. You may need to download the blockchain from satoshi's first block again.

Once you have your private keys imported into the Bitcoin Cash wallet, you can send your BCH directly to an exchange, or any other entity that you wish to spend them to.

Moving my BTC from the Bitcoin Core into another wallet makes sense, so the addresses don't match with the other chain's addresses, but I only trust Bitcoin Core, so I would need to create a new wallet, create all the receiving addresses I need, then go back to the original wallet, send the coins on the new wallet, then go to my laptop on the Bitcoin Cash node folder, and get the now empty wallet.dat and put it there. By the time it syncs my BCC should show up, now I can send these coins into an exchange.

I wouldn't need to wipe the machine because I didn't install any software, I guess you mean my laptop where I would install Bitcoin Cash, but there's nothing at all on my laptop of any value anyway.

Step one should be to transfer your existing Bitcoin to another new wallet first before importing your private keys into a BCH wallet. The risk is a compromised BCH wallet that would steal your existing Bitcoin. You can claim your BCH from the same keys that held a BTC balance at the time of the fork, even though now the Bitcoin has been transferred somewhere else.

As far as the privacy issue, unless you have a significant amount of Bitcoin I wouldn't worry too much about it. If you do have a large amount, then yes I would take measures to try and send the amounts to as many different addresses as much as possible. I know Kraken and Coinbase allow you to generate new addresses, I am not sure about other exchanges.

I should also add that when you are done transferring all of your BTC and BCH out of your existing wallet, consider all those keys as being compromised. I would backup a copy of the wallet dat somewhere in case you would accidentally send to an old address in the future, but afterward would wipe that machine and reinstall a new bitcoin wallet and generate new keys to use to move you money back into. A hardware wallet would work as well, the takeaway is you do not want to reuse any of those private keys. And you have already identified the need to keep your BCH wallet on a separate machine from your Bitcoin Core wallet, which I think is prudent.

You can never be too secure is my belief. A bit of inconvenience is well worth it if it means protecting your money

I have tried on Poloniex and Livecoin, they give me the same address. How do we keep our wallets private then?

Also, anyone else doesn't see a problem in needing to send your coins accross 100's of different transactions?

Not only it is expensive when you sum all the fees, but the BCash blockchain is super slow....

Why is no one talking about this big problem?

I guess what we need now is a list of exchanges that generate a new deposit address per transaction, but I can't find such exchange. The ones I tried use a persistent one, at least Poloniex seem to not be changing the deposit address.

How do we get past this?


Im also not sure on this one. Im using the BCash node on another computer as theymos recommended, to not overwrite any files from Core's full node folder. What extra steps need to be taken?

I was told the method of putting your wallet.dat on there works and you can directly send the coins to the exchange but I would also like some other people to confirm this is right.

thx for fast answer, dude!
can u give me some links about it?

If you spend all of your bch in one transaction then your Bitcoin addresses will be linked together. Exchanges should generate different bch deposit addresses however they may not be willing to generate multiple deposit addresses (if they don't then I suggest you use a different exchange). If you create several bch transactions all to the same exchange deposit address then you will lose privacy, although you can somewhat address this by sending several bch transactions to yourself.

In regards to step 5, yes you can safely send to SN exchange although you may encounter privacy issues (see my above comments).

In regards to step 4, you will have a similar bch balance as of your btc balance as of aug 1 at whatever block the chain split.

I am not 100% sure about the blockchain files referenced in step 2. If you can do this, you may need to take steps to ensure your node is looking at the correct blockchain.

You may be able to use a light client. I also believe you can broadcast transactions from one or more of the bch block explorers (possibly via tor) if you are worried about privacy and light clients.

Im running Bitcoin Core and I had all my money there when the split happened so I have all my BTC also on the BCash chain.

I just want to be safe than sorry. This is what I have on mind:

1) Download Bitcoin Cash client (from www.bitcoincash.org) in another computer to guarantee my Bitcoin Core install stays clean.
2) Copy my wallet.dat and the blockchain files on the Bitcoin Cash client
3) Wait for it to validate
4) Once it's done (I guess this will take a couple of hours... maybe a day?) I should have the same amount of BTC I have showing up as BCH
5) This is the step im not sure about. Can I send my coins safely to an exchange from there?

Also, how do I maintain privacy? The exchanges I've used, generate the same receiving address for deposits, so my entire wallet would be linked to the same address...

How can I deposit all of my BTC (which consist of 100's of transactions) into the exchange without lossing privacy?

This is something I hate about bitcoin. You have to be so careful. I wish I could click "send" and forget about it. Having to keep track of inputs and outputs its a massive time waster and a headacher maker.

Anyway, please help me do this right.