Right way to get free BTC on 1st August!?

Trela

legendary

Activity: 1106

Merit: 1001

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Quote from: Bittoshi on July 28, 2017, 10:04:34 AM

Quote from: mensa84 on July 28, 2017, 07:39:59 AM

Hello,

as I am not believing that BCC will last long at a high price I am thinking about following steps to get free BTC out of it on 1st August. I know, that there are security concerns, but maybe together we can find a step-by-step to do it in a safe way?

My plan is:

Create 2 BTC wallets and store your private keys.
Send your BTC to new wallet1.
Wait until fork is done.
Move BTC from wallet1 to wallet2.
Wait for how many confirmations?
Move BCC from wallet1 to Kraken
Wait for how many confirmations?
Change BCC at Kraken to get BTC
Withdraw BTC at Kraken to BTC wallet 2

What do you think about it?
So you should be protected against replay attacks.
What about "wipeouts"? Any chance to get protected against that?
Any other concerns / ideas?

Do the new BCC coins appear in the BTC wallet? I've read somewhere here in the forum that you need a special BCC wallet for that. Currently I use Electrum for my coins. But if everyone wants to change his BCC into BTC at the same time, there will be a lot of supply and no demand. The price will probably fall a lot before you even can start selling your BCC for BTC.

If you use Electrum for keep your Bitcoin, just keep your private key this wallet and waiting Bitcoin Cash release Electrum version BCC. Then, import your private key to this wallet and receive Bitcoin Cash.

Croin

sr. member

Activity: 518

Merit: 250

Sure it will work like that. But it's not free BTC as the price for BTC will drop so you simply could wait in Fiat and buy more BTC afterwards (maybe I am wrong). But yes like that you would get "free" BTC.

Bittoshi

full member

Activity: 280

Merit: 100

Quote from: mensa84 on July 28, 2017, 07:39:59 AM

Hello,

as I am not believing that BCC will last long at a high price I am thinking about following steps to get free BTC out of it on 1st August. I know, that there are security concerns, but maybe together we can find a step-by-step to do it in a safe way?

My plan is:

Create 2 BTC wallets and store your private keys.
Send your BTC to new wallet1.
Wait until fork is done.
Move BTC from wallet1 to wallet2.
Wait for how many confirmations?
Move BCC from wallet1 to Kraken
Wait for how many confirmations?
Change BCC at Kraken to get BTC
Withdraw BTC at Kraken to BTC wallet 2

What do you think about it?
So you should be protected against replay attacks.
What about "wipeouts"? Any chance to get protected against that?
Any other concerns / ideas?

Do the new BCC coins appear in the BTC wallet? I've read somewhere here in the forum that you need a special BCC wallet for that. Currently I use Electrum for my coins. But if everyone wants to change his BCC into BTC at the same time, there will be a lot of supply and no demand. The price will probably fall a lot before you even can start selling your BCC for BTC.

Qartersa

hero member

Activity: 868

Merit: 535

I believe you will be able to get all kinds of bitcoins in case there would be a network split on august 1. There is nothing specially that is required to be done to do it. Just store everything in one bitcoin address that you control the private key. Not 100% sure, but from my readings this is how it goes. Let's wait for a real expert to answer it.

Raven91

sr. member

Activity: 518

Merit: 250

Quote from: mensa84 on July 28, 2017, 07:39:59 AM

Hello,

as I am not believing that BCC will last long at a high price I am thinking about following steps to get free BTC out of it on 1st August. I know, that there are security concerns, but maybe together we can find a step-by-step to do it in a safe way?

My plan is:

Create 2 BTC wallets and store your private keys.
Send your BTC to new wallet1.
Wait until fork is done.
Move BTC from wallet1 to wallet2.
Wait for how many confirmations?
Move BCC from wallet1 to Kraken
Wait for how many confirmations?
Change BCC at Kraken to get BTC
Withdraw BTC at Kraken to BTC wallet 2

What do you think about it?
So you should be protected against replay attacks.
What about "wipeouts"? Any chance to get protected against that?
Any other concerns / ideas?

You could easily done this in a exchanges they ar already offering to invest in there exchanges and there after that day you will get the same amount of bcc that bitcoin you have in the exchanger i guess your method is already too far and i guess also risky to do a transaction.

dennyd999

full member

Activity: 238

Merit: 100

Bitcoin Classic in the past as well as Bitcoint XT supported by the same group is dead now.

It is likely Bitcoin Cash will be dead too.
Because of the same reasons as with Classic and XT. No support from community.

But anyway thanks Bitmain for free BTC again.

Important is to have access to your private keys.
Increadible,but Bitcoin Core node now downloading for aprox. 24 hours on SSD!
It took 5 days on HDD

aoluain

legendary

Activity: 2464

Merit: 1387

That sounds feasable but I wouldnt have first hand knowledge.
This will be my first FORKing Grin

experience.

I was planning on holding both BTC and BCC on a short term
basis to see how they play out against each other, thats kind
of a win-win scenario

sukron14

newbie

Activity: 24

Merit: 0

I do not know what to do on the 1st of August, if there is a free bitcoin maybe i will ask as much as possible because i have not got any bitcoin at all

mensa84

full member

Activity: 184

Merit: 101

Hello,

as I am not believing that BCC will last long at a high price I am thinking about following steps to get free BTC out of it on 1st August. I know, that there are security concerns, but maybe together we can find a step-by-step to do it in a safe way?

My plan is:

Create 2 BTC wallets and store your private keys.
Send your BTC to new wallet1.
Wait until fork is done.
Move BTC from wallet1 to wallet2.
Wait for how many confirmations?
Move BCC from wallet1 to Kraken
Wait for how many confirmations?
Change BCC at Kraken to get BTC
Withdraw BTC at Kraken to BTC wallet 2

What do you think about it?
So you should be protected against replay attacks.
What about "wipeouts"? Any chance to get protected against that?
Any other concerns / ideas?

Topic: Right way to get free BTC on 1st August!? (Read 494 times)