Topic: Hard Fork guide (if it will happen) - page 3. (Read 5147 times)

Get yourself some dust from a block mined on one of the chains. Combine that dust with your existing coins by sending a transaction to another address that you control. Since those coin base rewards don't exist on the other chain, this transaction will only be valid on one chain. After that, send your coins on the other chain to a new address that you control (extra measure just to be sure). At this point, your coins will be effectively disassociated between the two existing chains.

There is another method which may become possible if the second chain is a Bitcoin Unlimited chain. Since blocks will be larger on the Bitcoin Unlimited chain (that's the point after all), they will allow for many, many more transactions. So, you can just start sending your bitcoins to yourself over and over and over again. Over time, these transactions will be written into the Bitcoin Unlimited chain, but will be a chain of unconfirmed transactions on the original Bitcoin chain. At this point, you try a "double spend" to yourself (to a different address under your control) with a higher fee on the Bitcoin chain. Once one of these "double spend" transactions make it into a block on the Bitcoin chain, these coins will effectively be disassociated from the Bitcoin Unlimited chain.

HF is necessary for the improving of bitcoin, but i hope it not split to two chains. It the HF happened, the majority should kill the minority. 

Yes and no.
There is a possible problem of the "replay attack".
This must be fixed from the node of the minority chain. (so you have to wait a new Core version that fixes this, or from someone else)

Anyway, yes, if you really hold your bitcoin, so you own your private keys, you will have both coins, the problem is just in the transaction to move the coins in the minority chain.

You will have to wait for a Core version with the fix, but you will be on both chains.

If there will be a Core version with this kind of fix, I'll add it here on the guide.

Currently this guide can just help you to be sure of being on both chains.

Ok. What's the best way to accomplish it then?

Ok so to a newb here. If BU is accepted and I have my BTC on a Ledger wallet. Will I have a BTCU and a BTCC wallet? Will Ledger handle that or will I have to find my private keys?

No. Your BU transaction can be replayed on the Core chain, with the result that you lose all your Core coins.

Good post, thanks for the translation.

Let's say a fork occurs, and it's Bitcoin Unlimited branching off of Core.

If I have my coins in cold storage, what's the procedure if I want to sell off my Unlimited coins? I assume it's the following:
 

• Export my private keys from my cold wallet (or wherever they are stored)
• Download and install Bitcoin Unlimited client
• Import my private keys into my Bitcoin Unlimited client
• Send my BU coins to an exchange (say shapeshift.io) in exchange for Core coins or fiat or whatever
• Provide new cold storage addresses to receive the new Core coins

Is that right?

UP because more relevant during those days

Writing/updating in progress!


If it will happen a fork of Bitcoin, meaning, of its Blockchain, what will happen is that from a point on, it will born one (or more) new chains.

This chain will have "the same" (equal) history until that point / moment.

As you know, or you should know, on the Bitcoin's Blockchain they are saved all the transactions, from the 2009 to day.

If there will be a fork at the block X (like the block 453758, to make an example), so the Bitcoin's history, of the new fork, it will be "equal" until that point. (block)

What does this mean? It means that if before the block X, you had 100 bitcoin, then after it you will have 100 bitcoin on the "old" blockchain, and 100 bitcoinX (just to give a fancy name) on the new Blockchain.

The value of the two currencies will be different. They will be two different currencies after this.

The good thing about this, is that, as investors/holders, without doing likely nothing, You will be invested in the same way (same amount) on both.
I repeat, if you had an amount of bitcoin until now, then you will have it even after, on both blockchains.

You will be able then to decide to sell a little on one side, or the other, or keep them still and wait longer term.
The safest thing we say, would be doing nothing, and see how the market (other users / buyers / seller more confident of their choices) will decide to do, Following the exchanges in the various markets.

Any fork will be reported by me or by others, possibly months in advance.
On the forum, on facebook and on chats.

If you will do nothing and you will find yourself on clients / exchange / inappropriate situations to have both tokens (Bitcoin and BitcoinX), what will happen is that you simply will have the bitcoin, only on the current chain, meaning, the chain of the current team that is working on Bitcoin Core.

The choice to stay on the various fork, and not on a single one, may be here because:
- You don't trust of the curreny team on Bitcoin Core, and of the future that they are proposing.
- You trust them, but why avoiding the possibility to have more coins that can be sold (and gaining something) when it is possible?
- You trust them, but not entirely, better to be safe, because it costs so little (the time to adjust your situation)


However! (important things)

- Having control on your own bitcoins, it means having the complete/total and absolute control of private keys. I mean all the private keys, as single or more (client multisig)
It a very imortant thing, you have to be sure to have complete control of your bitcoins, to be sure, with certainty, to being able to use/have/control them, even on the new fork.

- Being able to export the private keys
Another thing that it will be needed is that the client that you are using will allow you with certainty, to being able to export the private keys, all of them!
This to being able to, easily, importing these keys on the new clients / wallets that will support the new fork.


It is important that the bitcoins are on an appropriate client, BEFORE the fork.
After the fork, the coins on the current Bitcoin, on the old chain, you will be able to take them on your before prefered client / service (if it wasn't respecting the two rules above)

Below I will put a list of clients that I consider valid to guarantee the ability to have bitcoin also present in the new blockchain.
If there is a client that doesn't appear on the list, just ask, and I will try to add it, by indicating whether it is adequate or not.

Clients / adequate situations / to have, by choice, before the fork (like, 6 or more confirmations/blocks before it happens):
- Electrum
- Jaxx
- Copay (https://iancoleman.github.io/bip39 / https://github.com/iancoleman/bip39)
- Mycelium (https://iancoleman.github.io/bip39 / https://github.com/iancoleman/bip39 - "Mycelium" )
- Multibit HD (https://iancoleman.github.io/bip39 / https://github.com/iancoleman/bip39 - "Hive Wallet" )
- Breadwallet (https://iancoleman.github.io/bip39 / https://github.com/iancoleman/bip39 - "Hive Wallet" )
- Bitcoin Core - (until the v0.13.0, at the moment) - http://bitcoin.stackexchange.com/a/5933/259
- Bitcoin Unlimited - http://bitcoin.stackexchange.com/a/5933/259
- Bitcoin Classic - http://bitcoin.stackexchange.com/a/5933/259
- Bitcoin XT - http://bitcoin.stackexchange.com/a/5933/259
- Paper wallet (single bitcoin address and private key)
- Blockchain.info - However it isn't a recommended wallet (https://iancoleman.github.io/bip39 / https://github.com/iancoleman/bip39)
- Bitcoin Armory

Not sure, I haven't tested it directly:
- Trezor (https://doc.satoshilabs.com/trezor-tech/cryptography.html - https://iancoleman.github.io/bip39 - https://github.com/iancoleman/bip39 )
- Ledger (http://support.ledgerwallet.com/knowledge_base/topics/how-to-restore-my-backup-without-a-ledger-wallet - https://iancoleman.github.io/bip39 / https://github.com/iancoleman/bip39 )

To use https://iancoleman.github.io/bip39, it's better to download the source and open it on a secure offline system
https://github.com/iancoleman/bip39/archive/master.zip


Clients / inappropriate situations / to not have if you want to be assured of having the coins on both (or more) forks:
- Leaving your bitcoins on the exchanges: there isn't any certainty that the exchanges will permit you to have the coins on all the blockchains. You will have to withdraw them, and put them on adeguate clients, before the fork.
- Coinbase
- Circle
- Uphold
- All online wallet (that are always insecure)
- ...


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This is an english translation of the the post on the italian section: https://bitcointalksearch.org/topic/guida-al-hard-fork-di-bitcoin-nel-caso-capiti-importante-1641827
There is also a spanish version: https://bitcointalksearch.org/topic/guia-para-el-hard-fork-de-bitcoin-en-caso-de-que-se-realice-1644893

They get updated daily, suggestions are welcome.