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Topic: Freebitco.in statement and my doubt. (Read 197 times)

legendary
Activity: 3906
Merit: 6249
Decentralization Maximalist
October 09, 2017, 12:50:59 PM
#2
So if you'll are a member of freebitco.in, you can see they have put up a statement regarding the fork, so this basically confirms it, Bitcoin gold and segwit2x is also coming, so the thing I want to know is how do I explain someone in simpler words what a fork is, like i said it's split of chains and new coins come.

You can simply say "it's another chain, but all addresses and private keys are also valid." That's what the "free coins" are about - if you have the private keys of an address that contains coins at the moment of the fork, you can "send" coins in all chains with them.

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Also wanted to confirm say I have one Bitcoin so I get one Bitcoin in for of bcg or segwit2x like it happened in bcc, or I get coin of Bitcoin in Bitcoins gold, could someone simply this

I don't know how freebitco.in manages it, but yes, essentially every hard fork "works" like the BCC fork. There are some differences like the existence or not of "replay protection" (S2x, as it wants to be "the Bitcoin" will not have replay protection. Read more here about replay attacks & replay protection).

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also does electrum support it.
Electrum does not support forks "natively". But as it's open source software it can be modified fastly by the supporters of every fork. And you can export the private keys of every address and use it in the fork-client you like. (Splitting the coins before is recommended, however.)
hero member
Activity: 2646
Merit: 686
October 09, 2017, 12:31:26 PM
#1
So if you'll are a member of freebitco.in, you can see they have put up a statement regarding the fork, so this basically confirms it, Bitcoin gold and segwit2x is also coming, so the thing I want to know is how do I explain someone in simpler words what a fork is, like i said it's split of chains and new coins come. Also wanted to confirm say I have one Bitcoin so I get one Bitcoin in for of bcg or segwit2x like it happened in bcc, or I get coin of Bitcoin in Bitcoins gold, could someone simply this, also does electrum support it.
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