Moving bitcoin before the new fork - page 3.

pooya87

legendary

Activity: 3472

Merit: 10611

Quote from: Wind_FURY on October 14, 2017, 01:41:26 AM

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The answer OP is looking for might be if replay protection is included in both forks. On Bitcoin Gold, I do not know but I heard it will not have replay protection. On Segwit2x/btc1, there is no replay protection.

But there will be clever developers who will code a tool to "split" your coins and have them safe in your wallets in all three chains.

it is too soon to say, neither of these are released yet. there may or may not be a strong 2 way replay protection in either of them.
- there is A replay protection in SegWit2x (one way and also opt-in) for now. it is that multi sig address thingy Wink

- there currently is no replay protection for bitcoin gold. but there is an open PR in their repo talking about it. and in their latest statement they said they are working on it.

olubams

hero member

Activity: 798

Merit: 503

Quote from: Ayers on October 14, 2017, 12:51:18 AM

can we move our bitcoin before the new fork happen? and after? how it work exactly do we risk to lose our coins because of replay attack? from 25 october to 1 novemeber there will be this new fork i want to know thnaks

You are a legendary rank member which in my opinion, you were around during the last fork exercise except otherwise. You don't need to bother yourself about understanding replay or technicality surrounding it. Because even if you do understand it, you can neither do to stop it or make it better. I just have the strong believe that how to go about it will surface by people who have more knowledge about it and have the authority to do same.

Wind_FURY

legendary

Activity: 2898

Merit: 1823

Quote from: pooya87 on October 14, 2017, 01:07:17 AM

Quote from: Ayers on October 14, 2017, 12:51:18 AM

can we move our bitcoin before the new fork happen? and after?

you can move your bitcoin anytime you want. bitcoin network has been working and will continue to work at all times.

Quote

how it work exactly do we risk to lose our coins because of replay attack?

you do NOT lose your bitcoin if you move your bitcoin.

replay attack means the transaction you make on bitcoin network will also be valid on the other (fork) chain too. so it can be mined there too.

imagine you are making a payment to 1BtcAddress... you obviously don't control the private key to 1BtcAddress and you are making a bitcoin payment. that goes one fine without any issues. but the same payment will happen on the forked chain and you also pay bitcoin_forked to 1BtcAddress... on the forked chain. but since you don't control the key to that address, your bitcoin_forked coins are practically lost.

remember this works the other way around too. meaning if you claim your bitcoin_forked coins, the transaction you make on the forked chain is also valid on bitcoin network so you get the bitcoin_forked coins and lose bitcoin!

that is why these chains have to implement a strong two way replay protection or if they don't you have to first split your coins then make a transaction.

The answer OP is looking for might be if replay protection is included in both forks. On Bitcoin Gold, I do not know but I heard it will not have replay protection. On Segwit2x/btc1, there is no replay protection.

But there will be clever developers who will code a tool to "split" your coins and have them safe in your wallets in all three chains.

Ayers

legendary

Activity: 2590

Merit: 1022

Leading Crypto Sports Betting & Casino Platform

Quote from: pooya87 on October 14, 2017, 01:24:30 AM

Quote from: Ayers on October 14, 2017, 01:16:17 AM

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oh it's clear now, so i have another question, can i use the same private key that i used for claiming bitcoin cash, to claim now bitcoin gold? or i need to move again my bitcoin?

first you need to wait and see if they are going to implement a strong 2 way replay protection or not.
- if they do, it is not necessary but it is highly recommended.
- if they do not, you must split your coins first and then use the keys.

it is always safer to move your bitcoin first and then import the private keys in the new wallet software. you never know what malicious things or even simply bugs are in these wallets. they are not exactly tested or reviewed specially in if you are doing it in the early days.

therefore i need to move two times my bitcoin to claim first the cash fork, and then the gold fork, that is a pain in the ass to do

h0lybyte

hero member

Activity: 924

Merit: 511

Quote from: Ayers on October 14, 2017, 12:51:18 AM

can we move our bitcoin before the new fork happen? and after? how it work exactly do we risk to lose our coins because of replay attack? from 25 october to 1 novemeber there will be this new fork i want to know thnaks

Of course new fork is being happened on 25th october, If your bitcoins are not in safe wallet, you can move them to a secure web wallet.
Moving your bitcoin to any offline walletor exchanges like bittrex,poloniex is not recommended because this way you can't get bitcoin gold.
Forked currency is only attributed to those who keep their bitcoins online.If you don't want BCG, then better to move offline.

Passive Coin

full member

Activity: 280

Merit: 102

Passive Coin - low supply coin with backing fund!

People just do not panic. Nothing wrong will happen. Keep your Bitcoins as usually.
I keep the in blockchain.info and some at Bittrex wallet.
... and that's fine. Relax.
Every new "forked coin" will be worth less than Bitcoin Cash. I just suppose so.
Competition is good but excessity turn "things" into lower end of the market....

krauzzer02

full member

Activity: 378

Merit: 101

It is safe to move your coins before the fork however make it sure your bitcoins are secured by storing them on a cold storage like paper wallet or any other remedy just to secure for the upcoming bitcoin fork in November for the Gold, don't worry about the replay attack as it plans to implement strong replay protection against the attackers.

bitcon

legendary

Activity: 2212

Merit: 1008

Quote from: Karakyli on October 14, 2017, 01:06:59 AM

Of course, before the new fork on October 25, you can move without any restrictions. However, if you want to have a new free Bitcoin Gold coin after this fork, then you need to keep bitcoin in your purse.

I think second time there will be no good profit from this fork. Only one time you can earn good money.

pooya87

legendary

Activity: 3472

Merit: 10611

Quote from: Ayers on October 14, 2017, 01:16:17 AM

~
oh it's clear now, so i have another question, can i use the same private key that i used for claiming bitcoin cash, to claim now bitcoin gold? or i need to move again my bitcoin?

first you need to wait and see if they are going to implement a strong 2 way replay protection or not.
- if they do, it is not necessary but it is highly recommended.
- if they do not, you must split your coins first and then use the keys.

it is always safer to move your bitcoin first and then import the private keys in the new wallet software. you never know what malicious things or even simply bugs are in these wallets. they are not exactly tested or reviewed specially in if you are doing it in the early days.

madwica

hero member

Activity: 714

Merit: 531

I think if you store your bitcoin in trusted wallet like coinbase, blockchain, coins.ph and other our fund will be safe also based on some statement of other users we can keep it into our wallet. If you are using exchange site much better to move it into your wallet to make it safe.
Here in my country which is coins.ph is our local bitcoin wallet they only support bitcoin and does not want to add other coins and their statement that during and after the fork our fund will safe that is why all my countrymen are not affraid on the incoming fork.

Ayers

legendary

Activity: 2590

Merit: 1022

Leading Crypto Sports Betting & Casino Platform

Quote from: pooya87 on October 14, 2017, 01:07:17 AM

Quote from: Ayers on October 14, 2017, 12:51:18 AM

can we move our bitcoin before the new fork happen? and after?

you can move your bitcoin anytime you want. bitcoin network has been working and will continue to work at all times.

Quote

how it work exactly do we risk to lose our coins because of replay attack?

you do NOT lose your bitcoin if you move your bitcoin.

replay attack means the transaction you make on bitcoin network will also be valid on the other (fork) chain too. so it can be mined there too.

imagine you are making a payment to 1BtcAddress... you obviously don't control the private key to 1BtcAddress and you are making a bitcoin payment. that goes one fine without any issues. but the same payment will happen on the forked chain and you also pay bitcoin_forked to 1BtcAddress... on the forked chain. but since you don't control the key to that address, your bitcoin_forked coins are practically lost.

remember this works the other way around too. meaning if you claim your bitcoin_forked coins, the transaction you make on the forked chain is also valid on bitcoin network so you get the bitcoin_forked coins and lose bitcoin!

that is why these chains have to implement a strong two way replay protection or if they don't you have to first split your coins then make a transaction.

oh it's clear now, so i have another question, can i use the same private key that i used for claiming bitcoin cash, to claim now bitcoin gold? or i need to move again my bitcoin?

Quote from: davis196 on October 14, 2017, 01:15:53 AM

Quote from: Ayers on October 14, 2017, 12:51:18 AM

can we move our bitcoin before the new fork happen? and after? how it work exactly do we risk to lose our coins because of replay attack? from 25 october to 1 novemeber there will be this new fork i want to know thnaks

You are a legendary forum member and you are asking ,i would say,a "newbie" question?Wow,this is strange.
The most important question here is which wallets and exchange platforms will support the forked altcoin called "Bitcoin Gold".I remember that during the previous forks some exchange platforms were limiting deposits and withdrawals.This might happen again.

i'm just asking which is the time windows where our coins are safe like with bitcoin cash it was advised to not move anything while we were near the fork date

davis196

hero member

Activity: 3206

Merit: 940

Quote from: Ayers on October 14, 2017, 12:51:18 AM

can we move our bitcoin before the new fork happen? and after? how it work exactly do we risk to lose our coins because of replay attack? from 25 october to 1 novemeber there will be this new fork i want to know thnaks

You are a legendary forum member and you are asking ,i would say,a "newbie" question?Wow,this is strange.
The most important question here is which wallets and exchange platforms will support the forked altcoin called "Bitcoin Gold".I remember that during the previous forks some exchange platforms were limiting deposits and withdrawals.This might happen again.

HabBear

hero member

Activity: 1106

Merit: 638

Where is your bitcoin?

Some exchanges will halt trading immediately before (like an hour) the fork is scheduled to occur and won't return access to transactions until they know it is safe to do so. This could be an hour or it could be a day. So keep that in mind if you leave your bitcoin with an exchange. It may be frozen for a short time after the fork.

care2yak

sr. member

Activity: 779

Merit: 255

Yes, I'd like to know too. My bitcoins are in the wallet Exodus. Is it safe to just store them there or do I have to move them somewhere else since I think Exodus is a signatory of the New York Agreement...?

pooya87

legendary

Activity: 3472

Merit: 10611

Quote from: Ayers on October 14, 2017, 12:51:18 AM

can we move our bitcoin before the new fork happen? and after?

you can move your bitcoin anytime you want. bitcoin network has been working and will continue to work at all times.

Quote

how it work exactly do we risk to lose our coins because of replay attack?

you do NOT lose your bitcoin if you move your bitcoin.

replay attack means the transaction you make on bitcoin network will also be valid on the other (fork) chain too. so it can be mined there too.

imagine you are making a payment to 1BtcAddress... you obviously don't control the private key to 1BtcAddress and you are making a bitcoin payment. that goes one fine without any issues. but the same payment will happen on the forked chain and you also pay bitcoin_forked to 1BtcAddress... on the forked chain. but since you don't control the key to that address, your bitcoin_forked coins are practically lost.

remember this works the other way around too. meaning if you claim your bitcoin_forked coins, the transaction you make on the forked chain is also valid on bitcoin network so you get the bitcoin_forked coins and lose bitcoin!

that is why these chains have to implement a strong two way replay protection or if they don't you have to first split your coins then make a transaction.

Karakyli

full member

Activity: 280

Merit: 100

Of course, before the new fork on October 25, you can move without any restrictions. However, if you want to have a new free Bitcoin Gold coin after this fork, then you need to keep bitcoin in your purse.

Ayers

legendary

Activity: 2590

Merit: 1022

Leading Crypto Sports Betting & Casino Platform

can we move our bitcoin before the new fork happen? and after? how it work exactly do we risk to lose our coins because of replay attack? from 25 october to 1 novemeber there will be this new fork i want to know thnaks

Topic: Moving bitcoin before the new fork - page 3. (Read 1402 times)