Topic: HardFork What to do (Read 5564 times)
To be safe it is wise to leave bitcoins in your wallet.
I agree with one of the defendants - just keep the bitcoins in your wallet.
I've gone for the 'devil may care' approach of putting my coins into Kraken, who have promised to credit all accounts with Bitcoin Cash at 1:1 rate.
The value is always determined by the market, Also remember that not all BCC are claimed or will never be claimed for many reasons, It can be said that the price is backed by buying walls in the exchanges, So the price is determined based on the law of supply and demand, An imbalance moves the price in some direction.
Thank you for confirming my theory about it.
Just a few questions please..
If there are more than 16.3 Million BTCs right now, and BTC holders will gain free BCC due to the Aug 1 fork at a 1:1 ratio, does this mean they are giving away 16.3Million+ x $400 worth of BCCs? Is BCC already backed by Fiat, or BCC initially has no value but will gain value once the holders of the free BCCs start selling and people start buying this new coin idea?
I am quite curious because at some point I thought this is somewhat like a cryptocurrency inflation.. but I'm a newbie so I most certainly might be wrong.
If there are more than 16.3 Million BTCs right now, and BTC holders will gain free BCC due to the Aug 1 fork at a 1:1 ratio, does this mean they are giving away 16.3Million+ x $400 worth of BCCs? Is BCC already backed by Fiat, or BCC initially has no value but will gain value once the holders of the free BCCs start selling and people start buying this new coin idea?
I am quite curious because at some point I thought this is somewhat like a cryptocurrency inflation.. but I'm a newbie so I most certainly might be wrong.
The value is always determined by the market, Also remember that not all BCC are claimed or will never be claimed for many reasons, It can be said that the price is backed by buying walls in the exchanges, So the price is determined based on the law of supply and demand, An imbalance moves the price in some direction.
Just a few questions please..
If there are more than 16.3 Million BTCs right now, and BTC holders will gain free BCC due to the Aug 1 fork at a 1:1 ratio, does this mean they are giving away 16.3Million+ x $400 worth of BCCs? Is BCC already backed by Fiat, or BCC initially has no value but will gain value once the holders of the free BCCs start selling and people start buying this new coin idea?
I am quite curious because at some point I thought this is somewhat like a cryptocurrency inflation.. but I'm a newbie so I most certainly might be wrong.
If there are more than 16.3 Million BTCs right now, and BTC holders will gain free BCC due to the Aug 1 fork at a 1:1 ratio, does this mean they are giving away 16.3Million+ x $400 worth of BCCs? Is BCC already backed by Fiat, or BCC initially has no value but will gain value once the holders of the free BCCs start selling and people start buying this new coin idea?
I am quite curious because at some point I thought this is somewhat like a cryptocurrency inflation.. but I'm a newbie so I most certainly might be wrong.
Buying a Trezor would help the most, but if not then I guess you should definitely import your private keys and keep them with yourself and delete them from any other third party sites and/or you should not keep your coins on any exchanges... It seems that the situations are worsening and BCC is about to be released for sure as miners are interested in running a different chain with a different coin, but let's see how it all goes...
Can transactions be reused on both chains? If I send bitcoin from one address that has a private key with both types of bitcoin on it, can that transaction be cloned and broadcast to another chain?
Make sure you have access to your BTC's private key before the fork. Hold tight as the price volatility of BTC and BCC will be high after the fork.
Please never keep BTC on an exchange.
This goes against crypto. You are submitting yourself to a centralized authority.
If you do not own the private keys, you do not own the coins. Simple as that.
This goes against crypto. You are submitting yourself to a centralized authority.
If you do not own the private keys, you do not own the coins. Simple as that.
Why not 3 or even 4 Chains? Even more Profit?
Economic basics aren't very strong on this forum.
They are saying to not do anything except for taking out your bitcoins on known exchanges as they will have problems after the day it happens.
They will not know and recognize what you had before the chain split happens.
They will not know and recognize what you had before the chain split happens.
yes.. this is the most important thing.
Do not store bitcoin an Exchange.
There, you cannot access to your private Keys...
and if so, you cannot import it in other forked wallet
They are saying to not do anything except for taking out your bitcoins on known exchanges as they will have problems after the day it happens.
They will not know and recognize what you had before the chain split happens.
They will not know and recognize what you had before the chain split happens.
If you have your bitcoin on a Trezor you will also have access to BCC https://blog.trezor.io/bitcoin-cash-hard-fork-chain-split-safe-guide-abbe3e9c553f
When chain split and everybody get BTU what about Exchange address . ? Will your BTC lying there get BTU to, or will exchange get it and we rely to get it from them. Seems there is allot of wriggle room for loosing BTC while both chains so similar "For the Anonymous Hacker that always slip away with funds"
Is it better to have BTC off site and not send while and after for a time to be safe,while two branches similar allot can go wrong in transactions i guess.
Its sad that BTC market can be so taken over. Not that the confused market will regain trust soon and in what coin the confusion and distrust will set us back years if not open another coin as KING.Just a coin monopolized by the rich . I understand the view of miners and the mining EQ supply buissines is huge so Hard Fork will have more support i suppose but the faith in it i dont know .
Sorry i just saw this https://bitcointalksearch.org/topic/august-1-bip148-preparedness-2017191
Is it better to have BTC off site and not send while and after for a time to be safe,while two branches similar allot can go wrong in transactions i guess.
Its sad that BTC market can be so taken over. Not that the confused market will regain trust soon and in what coin the confusion and distrust will set us back years if not open another coin as KING.Just a coin monopolized by the rich . I understand the view of miners and the mining EQ supply buissines is huge so Hard Fork will have more support i suppose but the faith in it i dont know .
Sorry i just saw this https://bitcointalksearch.org/topic/august-1-bip148-preparedness-2017191
i can suggest you to put your bitcoin in a wallet when you can access to private Keys..
if fork will occurs, do not use your bitcoins for some days, until all will work fine...
then you shall download the new wallet for the forked chain and you will import the PK into...
Then you will have the same amount of btc on the old chain and in the new one.
Because Bitcoin ABC built two way replay protection into the client the easiest way to claim your BCC is to have your bitcoin in Bitcoin Core before the hard fork. After the hard fork copy your pre-fork wallet.dat over to the Bitcoin ABC 0.14.5 client, or import your private keys. If you are using a hardware wallet the manufacturer should do the BTC/BCC split for you, or provide a tool to do so.
I recently sold my bitcoin at 2,500usd just to be safe until August one because I don't trust bitcoin wallets. I will buy bitcoin after the hardfork updates.
What to do if you run a node?
If you run Bitcoin Core 0.14.0 is it good to update to the 0.14.2 before August 1st? Or better do nothing?
If you run Bitcoin Core 0.14.0 is it good to update to the 0.14.2 before August 1st? Or better do nothing?
I am not a tech guy and I don't understand this article - http://docs.electrum.org/en/latest/hardfork.html
Well I would like to know are they update their Windows Wallet application with both type of Bitcoin so the noob users don't have to do anything.
Probably not... Electrum doesn't need to change anything to continue working as designed... it will happily connect to Electrum Servers and retrieve the information as required. If a fork happens and you want to follow both sides of the split, you'll need to do it on your end.Well I would like to know are they update their Windows Wallet application with both type of Bitcoin so the noob users don't have to do anything.
If that is too much trouble for you, then just sit tight... Electrum allows you to have easy access to your private keys... so you can just export them and import them into "OtherSideOfTheSplit" wallet as required to access coins on the other chain if required.
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