now that the snapshot was taken at block 491407, can I send some BTC to an exchange or do I still have to hold them in my wallet?
Thx for your answers!
greetz Red
Topic: Questions about Fork and Bitcoin Gold (Read 378 times)
Hello,
now that the snapshot was taken at block 491407, can I send some BTC to an exchange or do I still have to hold them in my wallet?
Thx for your answers! greetz Red
now that the snapshot was taken at block 491407, can I send some BTC to an exchange or do I still have to hold them in my wallet?
Thx for your answers!
greetz RedI am new to bitcoin and I just bought 0.12 btc few days ago from localbitcoins and I use electrum mobile wallet to keep my Bitcoin.
What exactly is fork? Or Hard fork?
I heard that those who own bitcoins before 25th Oct will receive Bitcoin Gold. How does it actually work? Do I receive Bitcoin Gold automatically in my electrum wallet or do I need to do it manually?
And if I have 0.12 btc how much would I receive in bitcoin gold? And does the value of my btc change ?
What exactly is fork? Or Hard fork?
I heard that those who own bitcoins before 25th Oct will receive Bitcoin Gold. How does it actually work? Do I receive Bitcoin Gold automatically in my electrum wallet or do I need to do it manually?
And if I have 0.12 btc how much would I receive in bitcoin gold? And does the value of my btc change ?
Best if you check out their actual website to start with: https://btcgpu.org
GitHub: https://github.com/BTCGPU
More info on Coindesk: https://www.coindesk.com/bitcoin-gold-initiates-hard-fork-split-create-new-blockchain/
~ Or you can store you btc to exchanges that supports the fork. You can try Yobit, Hitbtc. Bittrex just announced lately that they are now going to support the upcoming hard fork also. ~
it is already too late to do this. you had to deposit your bitcoin on these exchanges before the so called snapshot was taken at block 491,407 (which is 35 blocks ago).
from now on, the only option is waiting until they release a wallet, then the blocks start being mined then you make a transaction using their wallet and your keys to send your coins to exchanges to sell.
I also have 0.5 bitcoins in my electrum wallet and i have private keys of that too...but where i will recieve bitcoin gold..will another bitcoingold wallet launch after that.
You can keep you bitcoin with electrum wallet or any wallet that you have access to your private keys. Just keep your private keys mate. You're going to receive the same amount of your btc after the fork. Or you can store you btc to exchanges that supports the fork. You can try Yobit, Hitbtc. Bittrex just announced lately that they are now going to support the upcoming hard fork also. They officially made a statement that they are going to support the hard fork. But i suggest that just keep them to your wallet. I think it will be more safe. But it's up to you what do you prefer.
I also have 0.5 bitcoins in my electrum wallet and i have private keys of that too...but where i will recieve bitcoin gold..will another bitcoingold wallet launch after that.
you have to wait for the Bitcoin Gold developers team to finish up coding! the project is very incomplete right now and there are a lot of issues they need fixing, some of them serious like implementing a strong two way replay protection. and until they do that, there is no way for you to "receive bitcoin gold".
what you currently see on exchanges is nothing more than IOUs. like some virtual numbers on your screen.
I also have 0.5 bitcoins in my electrum wallet and i have private keys of that too...but where i will recieve bitcoin gold..will another bitcoingold wallet launch after that.
What exactly is fork? Or Hard fork?
think of fork as a change. https://en.wikipedia.org/wiki/Fork_(software_development)bitcoin is a set of codes and rules known as consensus rules, usually in bitcoin when you change those rules we call it creating a fork. sometimes it is done to fix an issue (bitcoin's first hard fork years ago) sometimes it is done to add some features or "upgrade" like SegWit or previous fork for adding P2SH.
other times you can change these consensus rules to create something new. like changing block time and mining algorithm (litecoin), block size (bitcoin cash), mining algorithm (bitcoin gold) and lots of others. we call these altcoins.
sometimes these use bitcoin code only like litecoin and sometimes they also use the blockchain like the other two.
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I heard that those who own bitcoins before 25th Oct will receive Bitcoin Gold. How does it actually work? Do I receive Bitcoin Gold automatically in my electrum wallet or do I need to do it manually?
they set a block height (491,407) and anyone who had any amount of bitcoin before that block will receive the equal amount of the new coin (BTG). it is because they will use the same "database" (blockchain) and the same keys. so in your wallet as long as you have the private keys (which you do when you use electrum) you have the coins. you use the same key to spend them on the other chain.
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And if I have 0.12 btc how much would I receive in bitcoin gold? And does the value of my btc change ?
you already have 0.12 bitcoin gold too.bitcoin price may or may not change because of it!
I am new to bitcoin and I just bought 0.12 btc few days ago from localbitcoins and I use electrum mobile wallet to keep my Bitcoin.
What exactly is fork? Or Hard fork?
I heard that those who own bitcoins before 25th Oct will receive Bitcoin Gold. How does it actually work? Do I receive Bitcoin Gold automatically in my electrum wallet or do I need to do it manually?
And if I have 0.12 btc how much would I receive in bitcoin gold? And does the value of my btc change ?
What exactly is fork? Or Hard fork?
I heard that those who own bitcoins before 25th Oct will receive Bitcoin Gold. How does it actually work? Do I receive Bitcoin Gold automatically in my electrum wallet or do I need to do it manually?
And if I have 0.12 btc how much would I receive in bitcoin gold? And does the value of my btc change ?
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