Do I need to worry about my bitcoin holding after August 1st? - page 2.

BCTalkaccountforsale

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Quote from: avikz on July 28, 2017, 11:15:49 AM

Hi All,

I mostly use my hardware wallet to save most of my bitcoins where I have access to my private key.

However, I also keep a good amount of bitcoin in my online BlockChain wallet for quick trading transfers.

my question is, do I need to worry about my bitcoins I hold in my online wallet? Will it be safe? What can be the consequence of of August 1st network split on my bitcoins?

Can anyone please give me an answer?

The blockchain wallet, it's really useful, you can keep it for a long time, and you can be assured of the bitcoin value after August 1, so keeping bitcoin will be a definite thing. Bitcoin will increase and you will have a large income range.

BitHodler

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Quote from: Russlenat on July 31, 2017, 03:54:05 AM

For me! I just worried less because my wallet provider if guaranteed us that our bitcoin during that date is safe in the account, but they just disable there transaction during that date and for further announcement.

When it comes to exchanges and online wallet services, obviously, your coins will be exposed to the same risks as when there isn't a chain split looming.

From there, your wallet service stating that your coins will be just fine has no value, because they at all times should be fine. It's like they make it seem they do extra effort to keep people's funds safe. Cheesy

People should start storing their coins offline. If you're desperately looking for convenience, at least make sure you make use of mobile apps that allow you to remain in full control of your private keys.

Using online wallet services where you grant them access to your private keys is seriously a no go. There is a saying ~ if you aren't the sole owner of your private keys, you don't actually own anything.

Blessed7

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Quote from: lausam on July 28, 2017, 06:42:54 PM

You should move your BTC from your online address eg to a large market like bittrex or viabtc that gives BCC. There you will get a free bcc as long as your BTC is stored there.

Absolutely right it is. But the question here is at what price will BCC launch?

jerk10

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Quote from: avikz on July 28, 2017, 11:15:49 AM

Hi All,

I mostly use my hardware wallet to save most of my bitcoins where I have access to my private key.

However, I also keep a good amount of bitcoin in my online BlockChain wallet for quick trading transfers.

my question is, do I need to worry about my bitcoins I hold in my online wallet? Will it be safe? What can be the consequence of of August 1st network split on my bitcoins?

Can anyone please give me an answer?

Well the doomsaday has arrived (just a few hours left). We'll finally get to know what course will BTc is meant to folow.

sandeepkharche

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Quote from: avikz on July 28, 2017, 11:15:49 AM

Hi All,

I mostly use my hardware wallet to save most of my bitcoins where I have access to my private key.

However, I also keep a good amount of bitcoin in my online BlockChain wallet for quick trading transfers.

my question is, do I need to worry about my bitcoins I hold in my online wallet? Will it be safe? What can be the consequence of of August 1st network split on my bitcoins?

Can anyone please give me an answer?

I'd advice you to sell of all your bitcoins and keep that money in cash.

Bhinodm

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Quote from: Xenrise on July 28, 2017, 11:49:09 AM

I really don't know for sure bro. But I kept on hearing stories about the bittrex that they will give bcc or bitcoin cash to bitcoin hodlers. The ratio of it is 1 is to 1. 1:1. If you have 1 bitcoin then you will receive 1 BCC FOR fREe. Well for me I think that btc are not safe in other online wallets specially when you dont have the priv key.

I totally agree with you. Right now the situation is pretty confusing and it will be little impossible to predict the final outcome. I heard many wallets have seized the accounts and arent allowing any BTCs transactions. Is it true?

tulikak

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Quote from: avikz on July 28, 2017, 11:15:49 AM

Hi All,

I mostly use my hardware wallet to save most of my bitcoins where I have access to my private key.

However, I also keep a good amount of bitcoin in my online BlockChain wallet for quick trading transfers.

my question is, do I need to worry about my bitcoins I hold in my online wallet? Will it be safe? What can be the consequence of of August 1st network split on my bitcoins?

Can anyone please give me an answer?

Firstly you must ensure that the wallet your bitcoins are in will support BCC or not and its take on the recent developments in BTC. What i can infer from my knowledge is that your BTCs will either be converted into BCCs or might get nullified if the exchange is planning to derecognise BTCs i.e. it has its alignment with BCC.

Capradina

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Quote from: Russlenat on July 31, 2017, 03:54:05 AM

For me! I just worried less because my wallet provider if guaranteed us that our bitcoin during that date is safe in the account, but they just disable there transaction during that date and for further announcement.

I think it is indeed, on August 1, all providers wallet will disable all the things there are in it and I am sure that all of it will not give any bad impact to the user's wallet. Because if indeed their cheating was already certain, they will lose out within 1 week. Because surely everyone will leave the wallet provider and switch to a safer place. So you don't need to worry, all funds will surely secure and sure you'll get the benefit of the hardfork

radjie

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Yes, I've heard this news from a few months ago. The news is a heated debate among its users, bitcoin users would have been familiar with the word 'hard fork', where hard fork events occur when the development team of a cryptocurrency agrees to apply a feature or a new change to the programming system of the coin.
Before all that happens you have to move all the bitcoins you have to the wallet that has the trusted side of extra security.

Kyraishi

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Quote from: avikz on July 28, 2017, 11:15:49 AM

Hi All,

I mostly use my hardware wallet to save most of my bitcoins where I have access to my private key.

However, I also keep a good amount of bitcoin in my online BlockChain wallet for quick trading transfers.

my question is, do I need to worry about my bitcoins I hold in my online wallet? Will it be safe? What can be the consequence of of August 1st network split on my bitcoins?

Can anyone please give me an answer?

Blockchain.info you do hold your own private keys with, therefore I don't think that you need to worry much about it. Hardware wallet is one of the safest ways to keep your bitcoin, again you should be able to claim your bitcoin cash fairly easily if a fork happens. No need to worry. If you want to be extra safe then transfer your btc from blockchain.info to your hardware wallet as well but imo that's not really necessary especially if involving low amounts.

You should be good to go looking at what you have said above. If you have any funds on exchanges, just make sure that you have withdrawn them to your hardware wallet.

consequences? Well you'll just get two bitcoins of the same amount of what you've previously held. For example if you held 2 btc, then you get 2 btc and 2 bcc after fork.

Russlenat

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For me! I just worried less because my wallet provider if guaranteed us that our bitcoin during that date is safe in the account, but they just disable there transaction during that date and for further announcement.

malikusama

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There is a risk in online wallets as we all know it, but if you have private keys of your wallet then it is quite acceptable. The problem is splitting on august 1 so it is better to transfer all your funds from online wallets to offline wallets.

BitcoinNewsMagazine

legendary

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Quote from: avikz on July 28, 2017, 11:15:49 AM

Hi All,

I mostly use my hardware wallet to save most of my bitcoins where I have access to my private key.

However, I also keep a good amount of bitcoin in my online BlockChain wallet for quick trading transfers.

my question is, do I need to worry about my bitcoins I hold in my online wallet? Will it be safe? What can be the consequence of of August 1st network split on my bitcoins?

Can anyone please give me an answer?

If you are using a Trezor or Ledger Nano S move your bitcoin from Blockchain to your hardware wallet. Both those manufacturers have stated they will have a splitting tool so you can claim your BCC. But you need to move the bitcoin now before the hard fork. Keep up to date by browsing the Trezor and Ledger Wallet subs on reddit.

Smarty14392

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Even i had the same question few days before. Bitcoin will split after the hard fork. I too had some amount in my blockchain but i moved it to my hardware wallet for safety. Yet i dont actually know what should i do to my coins. And if we get 1 BCC for our 1 BTC then we will have a huge loss i guess coz the price for BCC is not as high as BTC.

hajimasan

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Quote from: avikz on July 28, 2017, 11:15:49 AM

Hi All,

I mostly use my hardware wallet to save most of my bitcoins where I have access to my private key.

However, I also keep a good amount of bitcoin in my online BlockChain wallet for quick trading transfers.

my question is, do I need to worry about my bitcoins I hold in my online wallet? Will it be safe? What can be the consequence of of August 1st network split on my bitcoins?

Can anyone please give me an answer?

Yes , ofcourse you need to worry . And even if you hold much amount of the bitcoin in your blockchain wallet then it would be more better for you to withdraw and out the wallet where your private key are safe , because I have not yet heard about the blockchain to get split support ( in this forum ) .
And in case of the exchange wallet , then I don't think that there is anything to take tension because most of the exchange already announced that they are ready for fork and any type of spliting .
So I think these types of the statement by the exchange are directly saying that we will give coins ( BCC or anything if happened) .
So just make yourself tension free for those bitcoin that you have in exchange and in private key accessible wallets .
But be careful for the blockchain direct wallet because I didn't found any information about it , since it is official but here it would be better for you to get BCC like coins for the future .

Mpamaegbu

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Once a man, twice a child!

Quote from: savioroshan on July 29, 2017, 02:32:11 AM

Even I don't know what will happen qwith my bitcoins. All my coins are in online exchange wallets. I got message from my exchange that my coins will be safe . But I am in a very confused state. I also saw thymos message to transfer coins from online wallet to some other wallet. Earlier I was using multibit wallet. But I lost some coins because it had some bugs. So i stopped using such wallets. Can somebody suggest me a good offline wallet? Thanks

You may want to get either Mycelium, Armory or Electrum wallet. I read they are very reliable and secured.

Aur3

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Embrace change

Quote from: squatz1 on July 28, 2017, 06:19:41 PM

Yep, you and everyone else is going to have to be worried if you're still holding on that date. If you want to continue to hold your bitcoins, I'd move to a wallet which you have full control of -- one of these options could be a paper wallet, or really any wallet in which you and only you have the private keys to it.

I know the exchange which I use, Coinbase, is not going to be supporting Bitcoin Cash in the least -- so if you want to access Bitcoin Cash, you'd have to steer clear of them. There is going to be disruptions in the price, problems with the network more than usual, and so on, but the only thing you're going to have to do if you want to avoid all of this is to sell it.

So, you do have a decision to make OP (Roll the dice here, or simply sit back)

This makes a lot of sense. Thank you.

ebereon

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No worries at all if you have stored it on a safe place.

jossiel

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Quote from: avikz on July 28, 2017, 11:15:49 AM

my question is, do I need to worry about my bitcoins I hold in my online wallet? Will it be safe? What can be the consequence of of August 1st network split on my bitcoins?

Can anyone please give me an answer?

Yes you and I will worry for our bitcoins that are in online wallets so why not just merge your funds there into your hardware wallet?

The only consequence that you will get if you will remain your bitcoins at online wallet, it's either you won't be getting BCC.

The best thing to do is to put them altogether in hardware wallet.

savioroshan

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Even I don't know what will happen qwith my bitcoins. All my coins are in online exchange wallets. I got message from my exchange that my coins will be safe . But I am in a very confused state. I also saw thymos message to transfer coins from online wallet to some other wallet. Earlier I was using multibit wallet. But I lost some coins because it had some bugs. So i stopped using such wallets. Can somebody suggest me a good offline wallet? Thanks

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