Electrum and 1st of August. - page 2.

HCP

legendary

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Quote from: fishfishfish313 on July 25, 2017, 10:36:54 AM

Is there any validity to the claim that I needed to have my private keys for at least a month to be eligible? That doesn't seem right.

Who said this and/or where did you see this claim? In any case, it is rubbish...

If a fork occurs, as long as there are transactions that assign value to your private keys recorded on the blockchain in any of the blocks prior to the fork, you are good to go...

fishfishfish313

sr. member

Activity: 546

Merit: 252

Hi guys, I appreciate all of the responses here.

A quick rundown for safety leading into a potential fork: As long as I have my . . .

BTC in my Electrum wallet I'll be good. I'm keeping it offline during this.

SEED words saved to a flash drive for backup purposes.

If I have the SEED words saved, I DO NOT need to export the private key.

In the event of a split, I would receive the 1:1 ratio of coins.

Is this all correct? Thanks in advance guys.

Is there any validity to the claim that I needed to have my private keys for at least a month to be eligible? That doesn't seem right.

EDIT: Shoot, I just saw that there is a new release scheduled for this week.

Joohansson

full member

Activity: 212

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Electrum v.2.9? I guess that will provide you with the tools needed for a split.
Scheduled for release this week: https://twitter.com/ElectrumWallet

delykey

newbie

Activity: 1

Merit: 0

Hey everyone

I wasn't quite sure where to post, so I'm justing using this thread. I already have read others threads like this one:
https://bitcointalksearch.org/topic/are-my-coins-safe-in-electrum-after-august-1st-2024830

However, some of my questions I couldn't resolve. I'm using Electrum to store my BTC. I'm keeping Electrum updated, to make sure I always have the latest version (2.8.3 as of now).

1) Will there be any notification from Electrum telling me what to do?

2) If I do absolutely nothing (i.e. no transactions) on August 1st and some days after, will my BTC be safe? Can I open my wallet in this time in order to check the status?

3) The scenario is outlined in this figure here: http://www.bitcoinisle.com/2017/07/18/what-could-happen-to-bitcoin-a-visual-guide-to-scaling-outcomes/
Where would Electrum be in this figure?

I see my BTC as digital gold and just want to keep them. I don't plan on selling any, the only transaction I do is buying BTC if at all. Of course not on the beginning of August. My favorite way would be to just sit there and wait how things work out, not having to split my bitcoins, just them being safe in my Electrum wallet and everything goes the right way automatically. On the other hand I don't want to lose my BTC just because I haven't been informed before. That would really be a dumb mistake.

Cheers,
DLK

foxbat

sr. member

Activity: 484

Merit: 250

Quote from: SVK on July 09, 2017, 05:35:46 AM

Hi all,

I have all my BTC on Electrum since 2013.
Now this hardfork is coming and I'm not sure what to do.

Please can you tell me if I should quickly download BTC core wallet and transfer all BTC there or should I just leave all BTC on Electrum ?

Thank you very much for help

Electrum is a safe wallet for you to store bitcoin for 1/8. It is a convenient wallet for all bitcoin users; anyone using a personal computer should use electrum.

Rahar02

hero member

Activity: 910

Merit: 523

Quote from: ?? on ??

August 1st = Y2K bug FUD

For those too young to remember - google it!

Bitcoin can't fork anymore - it is too big to fork...

And in the unlikely event that it will fork - the difficulty will cause both chains to die. All miners know that. Only one chain can survive. Bitcoin is not a kiddy chain like ETH...

Your words contradict each other, both chain will die or one chain will survive? Cheesy

Don't you see most news stated bitcoin will going through hard fork? It means the chain will split but miners support segwit and all blocks must signal for it. The split maybe negligible and we don't have to do anything but secure our bitcoin, get your private keys. So, withdraw all your coins out of exchanges or wallet platform that you can't export the private key, try electrum wallet. And be prepared for big rally that will come after segwit activated and block size increased Grin

CyberKuro

hero member

Activity: 798

Merit: 506

How about blockchain wallet and August 1st? Everyone who use that wallet shouldn't do anything but just export private key too?
Before all of that, is there anyone here who confident of blockchain will split into two different chain?
Whether segwit2x will reach enough approval from majority of miners and be activated?

Minecache

legendary

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Vave.com - Crypto Casino

Quote from: SVK on July 09, 2017, 03:43:49 PM

Quote from: Red-Apple on July 09, 2017, 10:19:22 AM

Quote from: SVK on July 09, 2017, 09:19:52 AM

I have read that there will be 2 bitcoins and 2 blockchains from 1st of August.

the accurate statement is:
there might be 2 blockchains after 1st of August.

Quote

Now which of these two blockchains and coins would our original BTCs belong to ?

the one that can gain the support from majority.
or we will have 2 half ass blockchains with the price of both crashing hard!

Thank you for explanation/correction

So today's BTC will belong to (for example) blockchain A or B ?
How would I know to which blockchain it will belong to ?
(I'm not adopting anything and would like to stick to the same blockchain we had so far)

Thank you

If the chain splits you will have BTC on both chains A and B. If it happens just leave your wallet alone but monitor the situation closely until the dust settles and devs update their wallet software to allow you to spend on both chains. The worst thing you could do is panic and lose your BTC on one of the split chains from a replay attack. Read about how it happened last year during Ethereums hard fork. It might help you understand. Right now there is nothing to be panicking about.

SVK

sr. member

Activity: 378

Merit: 250

A Bitcoin Beginner’s Guide to Surviving a Coin-Split

There is a chance Bitcoin will experience a coin-split soon. If a majority of miners (by hash power) switch to Bitcoin Unlimited and decide to mine blocks bigger than one megabyte, while at least some users stick to the current Bitcoin protocol, the network and blockchain can split in two. In that case, there may be two different types of Bitcoin tokens: "BTC," which follows the current Bitcoin protocol, and "BTU," which follows the new Bitcoin Unlimited protocol.

http://www.nasdaq.com/article/a-beginners-guide-to-surviving-a-coin-split-cm764421

SVK

sr. member

Activity: 378

Merit: 250

Quote from: Red-Apple on July 09, 2017, 10:19:22 AM

Quote from: SVK on July 09, 2017, 09:19:52 AM

I have read that there will be 2 bitcoins and 2 blockchains from 1st of August.

the accurate statement is:
there might be 2 blockchains after 1st of August.

Quote

Now which of these two blockchains and coins would our original BTCs belong to ?

the one that can gain the support from majority.
or we will have 2 half ass blockchains with the price of both crashing hard!

Thank you for explanation/correction

So today's BTC will belong to (for example) blockchain A or B ?
How would I know to which blockchain it will belong to ?
(I'm not adopting anything and would like to stick to the same blockchain we had so far)

Thank you

SVK

sr. member

Activity: 378

Merit: 250

Thanks everyone for your help

Not trying to create any panic but that's how I understood what is going to happen on 1st of August.
I might be wrong and understood it all wrong and all will be same as before.

I'm going to leave everything as is and was for 4 years and see what happens.

lite

legendary

Activity: 1400

Merit: 1009

Quote from: User365 on July 09, 2017, 10:26:58 AM

So I should have my bitcoin core client closed for a few days after August 1st ? Or opened ?

AFAIK, it doesn't matters if your wallet is closed or opened.

Quote from: SVK on July 09, 2017, 09:19:52 AM

Quote from: freebutcaged on July 09, 2017, 08:00:48 AM

What is it with you people and this imaginary 1st of Aug fork?

When will any of you learn?

It's not a hard fork, it's an user activated soft fork, those little eyes pricks are bluffing for this same reason> make you panic and when people panic they

Will do stupid things such as selling their old stash, you just save address with it's key and go to another star system and come back, you'll find your coins

In the same condition as before you left this planet.

I have read that there will be 2 bitcoins and 2 blockchains from 1st of August.

As I wasn't involved in BTC for long time it creates uncertainty in me.
BTC is BTC and that BTC has one blockchain.

Someone missed the train and didn't adopt at the start is now trying to make up for it by splitting BTC so he can get rich as quickly as possibly.
Not my problem he didn't adopt = go and create another coin and leave BTC alone.

1st August = 2 different BTC coins and 2 different blockchains.

Now which of these two blockchains and coins would our original BTCs belong to ?
Divide and conquer.

I'm not so sure about that, there will be only one bitcoin in case of a fork, other one(fork) will be labeled as altcoin. anyways you don't have to worry about fork as long as you keep your coins in a wallet with full control(electrum,core,mycelium).

mrayazgul

hero member

Activity: 560

Merit: 500

Quote from: SVK on July 09, 2017, 09:19:52 AM

Quote from: freebutcaged on July 09, 2017, 08:00:48 AM

What is it with you people and this imaginary 1st of Aug fork?

When will any of you learn?

It's not a hard fork, it's an user activated soft fork, those little eyes pricks are bluffing for this same reason> make you panic and when people panic they

Will do stupid things such as selling their old stash, you just save address with it's key and go to another star system and come back, you'll find your coins

In the same condition as before you left this planet.

I have read that there will be 2 bitcoins and 2 blockchains from 1st of August.

As I wasn't involved in BTC for long time it creates uncertainty in me.
BTC is BTC and that BTC has one blockchain.

Someone missed the train and didn't adopt at the start is now trying to make up for it by splitting BTC so he can get rich as quickly as possibly.
Not my problem he didn't adopt = go and create another coin and leave BTC alone.

1st August = 2 different BTC coins and 2 different blockchains.

Now which of these two blockchains and coins would our original BTCs belong to ?
Divide and conquer.

Now where is that news that we have two Bitcoins and two blockchains. Nothing has been finalized as yet and nothing is gonna crash. Do not try to create unnecessary Panic among the holder of bitcoins.
Bitcoin will never crash !!!

freebutcaged

hero member

Activity: 588

Merit: 541

Quote from: SVK on July 09, 2017, 09:19:52 AM

Quote from: freebutcaged on July 09, 2017, 08:00:48 AM

~Snip

I have read that there will be 2 bitcoins and 2 blockchains from 1st of August.

As I wasn't involved in BTC for long time it creates uncertainty in me.
BTC is BTC and that BTC has one blockchain.

Someone missed the train and didn't adopt at the start is now trying to make up for it by splitting BTC so he can get rich as quickly as possibly.
Not my problem he didn't adopt = go and create another coin and leave BTC alone.

1st August = 2 different BTC coins and 2 different blockchains.

Now which of these two blockchains and coins would our original BTCs belong to ?
Divide and conquer.

Where did you hear perhaps from an infamous little eyes Wu? now hear it from me, he knows that he has a large mining company and his words

Could have great impacts on people's mindset and could change their decisions, that is why he is abusing that power and since he wants more money

He has orders filled already down to $1000 even if people were selling millions of coins that's his plans because he already has invested millions

Of dollars so what would be the next thing? having as many Bitcoins as possible. and usually others will divide you to conquer like what they're

Doing with Shia and Sunny Muslims. Wu is an insider he wouldn't divide himself, unless, unless of course someone has a gun to his head forcing

Him to do a hard fork that is a whole different story.

btcdevil

legendary

Activity: 1302

Merit: 1027

I think implementing Segwitx2 is not forking and it is not related to any dual blockchain. but it will start to accept high block size so that transactions get fast confirmed on low fees also.

So it is much better that if you are a long term holder then dont do anything to your wallet , just keep the backup of your wallet and do other things what you were doing from past , after August 1 just see how the things are going and then try to do some things after some weeks as if they implemented segwit then they will face some problem in the starting and when everything sorted out you can do other things.

User365

sr. member

Activity: 434

Merit: 251

physics, mathematics and engineering

So I should have my bitcoin core client closed for a few days after August 1st ? Or opened ?

Red-Apple

hero member

Activity: 1470

Merit: 655

Quote from: SVK on July 09, 2017, 09:19:52 AM

I have read that there will be 2 bitcoins and 2 blockchains from 1st of August.

the accurate statement is:
there might be 2 blockchains after 1st of August.

Quote

Now which of these two blockchains and coins would our original BTCs belong to ?

the one that can gain the support from majority.
or we will have 2 half ass blockchains with the price of both crashing hard!

SVK

sr. member

Activity: 378

Merit: 250

Quote from: freebutcaged on July 09, 2017, 08:00:48 AM

What is it with you people and this imaginary 1st of Aug fork?

When will any of you learn?

It's not a hard fork, it's an user activated soft fork, those little eyes pricks are bluffing for this same reason> make you panic and when people panic they

Will do stupid things such as selling their old stash, you just save address with it's key and go to another star system and come back, you'll find your coins

In the same condition as before you left this planet.

I have read that there will be 2 bitcoins and 2 blockchains from 1st of August.

As I wasn't involved in BTC for long time it creates uncertainty in me.
BTC is BTC and that BTC has one blockchain.

Someone missed the train and didn't adopt at the start is now trying to make up for it by splitting BTC so he can get rich as quickly as possibly.
Not my problem he didn't adopt = go and create another coin and leave BTC alone.

1st August = 2 different BTC coins and 2 different blockchains.

Now which of these two blockchains and coins would our original BTCs belong to ?
Divide and conquer.

Minecache

legendary

Activity: 2184

Merit: 1024

Vave.com - Crypto Casino

Quote from: freebutcaged on July 09, 2017, 08:00:48 AM

What is it with you people and this imaginary 1st of Aug fork?

When will any of you learn?

It's not a hard fork, it's an user activated soft fork, those little eyes pricks are bluffing for this same reason> make you panic and when people panic they

Will do stupid things such as selling their old stash, you just save address with it's key and go to another star system and come back, you'll find your coins

In the same condition as before you left this planet.

I don't know but I think that the original poster needs to calm down a bit.

freebutcaged

hero member

Activity: 588

Merit: 541

What is it with you people and this imaginary 1st of Aug fork?

When will any of you learn?

It's not a hard fork, it's an user activated soft fork, those little eyes pricks are bluffing for this same reason> make you panic and when people panic they

Will do stupid things such as selling their old stash, you just save address with it's key and go to another star system and come back, you'll find your coins

In the same condition as before you left this planet.

Topic: Electrum and 1st of August. - page 2. (Read 5755 times)