Do I need to worry about my bitcoin holding after August 1st? - page 3.

Mpamaegbu

legendary

Activity: 2716

Merit: 1225

Once a man, twice a child!

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 guess you know the answer to the question you asked because you asked only about the safety of the online wallet, not the hardware wallet. Meaning you suspect something could go wrong with your web wallet. As a Hero Member, you obviously have been here a long time and expectedly should be advising us. Anyway, let me tell you want I did: I moved my coins from an exchange to an Electrum wallet and then exchanged a few of my Bitcoin to altcoins of interest instead of selling off in panic. Don't sell off. Get them exchanged for altcoins!

Sniper150

sr. member

Activity: 357

Merit: 260

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 August 1st network split on my bitcoins?

Can anyone please give me an answer?

It's ok for you to use that hardware wallet and I hope I could also buy that kind of wallet so that my bitcoin is less in risk and not prone to hack. However, we are not really sure that the predictions on August 1 will happen. The only thing that I suggest for you is that just keep all your bitcoin in your hardware wallet and just wait until August 1 pass over then if you think that nothing happened on the said date, continue to store your bitcoin in an online wallet but, I suggest that when you are going to place your bitcoin in an online wallet, just put a half of it because you are not totally sure that online wallet is safe.

raymond541

hero member

Activity: 821

Merit: 501

If you use blockchain info have control on your private key.I just read this https://github.com/OmniLayer/omniwallet/wiki/Exporting-Private-Key-from-Blockchain.info-and-Importing-to-Omniwallet.org
you can export your private key from blockchain.info and import.you just need some step to get your private from blockchain.info wallet.I already have my private key of my wallet.I am not sure its also possible can export your private key on classic.

lausam

full member

Activity: 126

Merit: 100

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.

BitMaxz

legendary

Activity: 3374

Merit: 3095

BTC price road to $80k

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)

Its should be need to move your funds into safety place since admin of this forum giving us already about warning that we can see above as news.
Because there are possibility our funds will gone so to be safe of our investment and bitcoin we should transfer our funds in the safety place or wallet..
The best for me right now is paper wallet or just i keep the private keys and the notes..
Or transfer it into electrum keeping our bitcoin in web wallet are also not safe and exchange site so better to move coins before august 1..

squatz1

legendary

Activity: 1666

Merit: 1285

Flying Hellfish is a Commie

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)

ReLieD

sr. member

Activity: 546

Merit: 255

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 don't know exactly about the security of you Bitcoins since as I have heard keeping your Bitcoins in an online wallets is never recommended. It's much better if you keep them in some offline wallet like electrum or mycelium. Since blockchain.info will have a lot of load after 1st august and also it has many bugs in that wallet.
So I would recommend you to switch to an offline wallets

fullypak

legendary

Activity: 1456

Merit: 1005

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 too heard this story. I have few questions in my mind. Now the Bitcoin price $2800 after splitting Bitcoin into 2 coins they will give the same amount of BCC as free this is ok. but what about the price of the leading Bitcoin it will drop, or it will remain same? If it drops means, then there is no use to wait. We can sell now only and convert it into fiat currency this is profitable am I right.

mobnepal

legendary

Activity: 1218

Merit: 1006

You should move whatever you have in online wallets like blockchain.info to your hardware or paper wallet because you may not get BCC or any other coin after network split for your bitcoin in those online wallets. Also web wallets are not safe and can be compromised.

OmegaStarScream

staff

Activity: 3500

Merit: 6152

I'd switch to something like Electrum personally but your funds should be fine. Blockchain.info definitely have their technical issues from time to time but since you control your private keys, you should be fine. You can use BCC by importing the PK to a wallet that supports BitcoinCash.
If the hardware wallet you are using is Trezor then I suggest sending everything there, they will be supporting BCC and you will have control without the struggle of exporting and importing etc.

Xenrise

sr. member

Activity: 672

Merit: 251

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.

avikz

legendary

Activity: 3080

Merit: 1500

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?

Topic: Do I need to worry about my bitcoin holding after August 1st? - page 3. (Read 1800 times)