Topic: November fork Segwit2x - Advice on what to do (Read 881 times)

I think that's unlikely. As much as the NYA signers want B2X to succeed, they don't seem interested in supporting it as a minority chain. Replay protection would only be introduced if they wanted the fork to survive (as an altcoin) despite having minority hash rate. Why would they do that? With majority hash rate, they can at least argue that B2X is the stronger chain. That doesn't make it "Bitcoin" to us, but according to most of the NYA signers' policies, it does.

At the end of the day, companies like Coinbase, BitGo and Blockchain want to see regular capacity increases to Bitcoin that simply aren't realistic. I can see why they are pivoting to altcoins. I just wish they'd do it a bit more peacefully...

It is not a completely invalid what he states, although the tone could have been better But there are risks in having them on exchange sites given the history of some larger exchange sites that closed suddenly and froze/stole people's balances. Once the market matures a bit more and becomes better regulated, this risk will lower.

Back to the point, there is an excellent post here above that actually describes it thoroughly and well.

You are suggested to not spend any coins after the fork until either chain integrates replay protection. I'm sure one of the chains is going to cave in and enable it.

The only advice I would give you is to hold out until the fork is completed.  Then you would have two currencies, the old bitcoin and bitcoin 2x segwit.  You get free coins, to which you can sell those coins for more bitcoins or any other altcoin you desire.

I would assume most intelligent people will avoid this fork, just like the btc cash fork.

Who with a brain would trust an open exchange with their btc? Not me, fork that shit!

This fork will fail, just like the bitcoin cash fork was a failure. Fork that!

Hi,

I would need advice on the best way to profit from Segwit2x (if there is a way). At the moment, I have some bitcoin at 3 different exchanges, but I have read that not all of them will list a possible new chain and that I should keep funds cold stored for the occassion.

Is it possible to get coins in both chains? Does that mean that you get "free" BC2 or whatever the name they choose? If so, how can I make sure I am in?

Thanks!

I would need advice on the best way to profit from Segwit2x (if there is a way). At the moment, I have some bitcoin at 3 different exchanges, but I have read that not all of them will list a possible new chain and that I should keep funds cold stored for the occassion.

I would assume most intelligent people will avoid this fork, just like the btc cash fork.

Who with a brain would trust an open exchange with their btc? Not me, fork that shit!

This fork will fail, just like the bitcoin cash fork was a failure. Fork that!

Hi,

I would need advice on the best way to profit from Segwit2x (if there is a way). At the moment, I have some bitcoin at 3 different exchanges, but I have read that not all of them will list a possible new chain and that I should keep funds cold stored for the occassion.

Is it possible to get coins in both chains? Does that mean that you get "free" BC2 or whatever the name they choose? If so, how can I make sure I am in?

Thanks!

Yes. You can get coins from both chains if you do the right thing. To make sure you get it, there are two options:

1. Store your Bitcoin in your own address (you have control to the address private key). This method means you (and only you) are gaining full control of your Bitcoin. But to gain access to the forked coin process might be a little problem if you lack of technical knowledge. You have to install new wallet, import the address private key to the new wallet, and could only spend if the chain is stable. That means you couldn't sell your fork coin (B2X) immediately.

You can search on Google the detailed guide for claiming the fork coin. theymos, admin of Bitcointalk, also says he will make such guide later.

2. Store your Bitcoin on exchanges that support the fork. Exchanges that supports and will credit B2X to its user are: Bitfinex, HitBTC, Coinbase, GDAX. Full list here
If you're storing your Bitcoin on an exchange you didn't need to do anything to claim the fork coin and you can sell them immediately on that exchange. The downside is storing on an exchange isn't a good idea. You let them have control over your Bitcoin. They might not fulfill their promises or ran away with your money although that's highly unlikely.

I personally will store my Bitcoin on an exchange a moment before the fork because I want to sell the B2X immediately. I believe the original chain will maintain the status quo, i.e. having the most hash power, and keep its name (BTC).