So, may I say two points,
. Maybe the BTC developers do something to really PREVENT claiming any of the forks, this way nobody wil have the new coins or trade them, no mining, no transaction, no forks.. they will simply be born dead.
. I think, just having the BTC in a mobile or desktop wallet that keeps your private keys in it and not doing transactions during the Fork is ok for safety.
What you think?
Topic: The Coming Fork(s) Safety For BItcoins - page 4. (Read 2795 times)
First of all, be aware that coin-splits can be somewhat risky — especially controversial ones like the SegWit2x fork. While it seems unlikely for now, there is a chance some kind of cyber-battle will break out, perhaps even escalating to the point where all exchange rates drop sharply. If you want to make sure not to be caught in any crossfire, it’s best to not hold more value in bitcoin than you are willing to lose.
cyberbattle? what on earth do you mean? people aren't like shooting bitcoins at each other haha
Emerge mentioned this article (please read it):
https://bitcoinmagazine.com/articles/bitcoin-beginners-guide-surviving-bgold-and-segwit2x-forks/
If SegWit2x will take place there will be nothing/none to laugh at, seriously
First of all, be aware that coin-splits can be somewhat risky — especially controversial ones like the SegWit2x fork. While it seems unlikely for now, there is a chance some kind of cyber-battle will break out, perhaps even escalating to the point where all exchange rates drop sharply. If you want to make sure not to be caught in any crossfire, it’s best to not hold more value in bitcoin than you are willing to lose.
cyberbattle? what on earth do you mean? people aren't like shooting bitcoins at each other haha
Time is running fast and as of now they've no Replay protection at the ready and no guides from BTG site to retrieve BTG from most popular wallets (possibly without screw**g up your BTC balance). Have I got to mention that no BTG wallet is there as well?
I wouldn't worry about it. Bitcoin Cash didn't have replay protection until the last minute. They added it 1-2 days before the fork. The necessary change is not trivial but it's also not overwhelming. There's still plenty of time to get it done.
And if not, it's no big deal. It's just an altcoin. Just make sure to always keep your BTC safe, first and foremost. In time, tutorials will emerge that will explain how to recover BTG if there is no replay protection. I assume they will add it, because no one will want to use it otherwise.
@daberti,
I believe from all what I am reading, the 2 forks are lacking the minimum requirements for a successful currency despite announcing very good intentions.
I have a feeling that they are attempting to travel back in time to repeat the same as what happened with BTC, the main goal is to make huge gains, not to really improve BTC or create a better BTC.
The bad thing, it seems to me that they don’t really care about normal users loosing their money.
Maybe the answer to this is to ignore claiming the free currencies absolutely, maybe BTC developers can do something to secure users’ BTC
I believe from all what I am reading, the 2 forks are lacking the minimum requirements for a successful currency despite announcing very good intentions.
I have a feeling that they are attempting to travel back in time to repeat the same as what happened with BTC, the main goal is to make huge gains, not to really improve BTC or create a better BTC.
The bad thing, it seems to me that they don’t really care about normal users loosing their money.
Maybe the answer to this is to ignore claiming the free currencies absolutely, maybe BTC developers can do something to secure users’ BTC
@limopc just to recap
BTC devs have already implemented since V 0.15 something to prevent the awful November fork to happen,
see my post https://bitcointalksearch.org/topic/m.23182458
Sadly enough, I feel like the BTG fork will happen AND, YES, you're fully right (IMHO):
- they don’t really care about normal users loosing their money
- the answer to this is to ignore claiming the free currencies absolutely (but see note below)
NOTE
Once more for all of us -count me in- Electrum is built to help AFA Forks are concerned http://docs.electrum.org/en/latest/hardfork.html (read it VERY carefully)
END NOTE
-----
Some more info from https://btcgpu.org/faq/
Inside which...
- What wallet should I keep my BTC in to make sure I get my free BTG?
Any secure Bitcoin wallet that gives the user exclusive control of the cryptographic private keys is a suitable location to store your coins prior to the October 25 fork. Some wallets may offer you direct access to your BTG, while others may require you to take additional technical steps. Verified wallets that support BTC and BTG side-by-side will be listed on the Bitcoin Gold home page. We will publish guides for retrieving BTG from the most popular wallets, including Bitcoin Core, Electrum, Mycelium, hardware wallets, paper wallets, and more. (red font has been choosen by myself) - How can I get Bitcoin Gold after the October 25 fork?
The October 25 hard fork is the one and only opportunity to get free BTG. After that time, your options to acquire it will be to buy it on an exchange like any other cryptocurrency, to mine it with your own computer hardware (GPUs), or to earn it by trading your goods and services for it.
-----
Time is running fast and as of now they've no Replay protection at the ready and no guides from BTG site to retrieve BTG from most popular wallets (possibly without screw**g up your BTC balance). Have I got to mention that no BTG wallet is there as well?
@daberti,
I believe from all what I am reading, the 2 forks are lacking the minimum requirements for a successful currency despite announcing very good intentions.
I have a feeling that they are attempting to travel back in time to repeat the same as what happened with BTC, the main goal is to make huge gains, not to really improve BTC or create a better BTC.
The bad thing, it seems to me that they don’t really care about normal users loosing their money.
Maybe the answer to this is to ignore claiming the free currencies absolutely, maybe BTC developers can do something to secure users’ BTC
I believe from all what I am reading, the 2 forks are lacking the minimum requirements for a successful currency despite announcing very good intentions.
I have a feeling that they are attempting to travel back in time to repeat the same as what happened with BTC, the main goal is to make huge gains, not to really improve BTC or create a better BTC.
The bad thing, it seems to me that they don’t really care about normal users loosing their money.
Maybe the answer to this is to ignore claiming the free currencies absolutely, maybe BTC developers can do something to secure users’ BTC
My point of view.
It is all a battle of miners: BTC, Bitcoin Cash, Bitcoin Gold and SegWit2X .
BTG scores a point in the way he won't subtract miners (ASICS) to BTC, but loses two points by NOT having yet implemented Replay protection (still in the todo list https://trello.com/b/P1rLw1G9/bitcoin-gold-todos) and we're less than 6 days far from the fork.
IMHO BTG will be a competitor to ZEC and BC Cash, more than to BTC, if difficulty will be implemented properly. These ones will possibly suffer a lot.
With that said, I cannot help but predicting for BTC a mixed POW/POS transition phase and POS (possibly locking stakes from selling at least for a decently long period of time) landing asset (fees will avoid inflation seen in other POS coins), in order to get rid of hungry Chinese miners and eventually realizing Satoshi's idealistic dream of one CPU one coin.
It is all a battle of miners: BTC, Bitcoin Cash, Bitcoin Gold and SegWit2X .
BTG scores a point in the way he won't subtract miners (ASICS) to BTC, but loses two points by NOT having yet implemented Replay protection (still in the todo list https://trello.com/b/P1rLw1G9/bitcoin-gold-todos) and we're less than 6 days far from the fork.
IMHO BTG will be a competitor to ZEC and BC Cash, more than to BTC, if difficulty will be implemented properly. These ones will possibly suffer a lot.
With that said, I cannot help but predicting for BTC a mixed POW/POS transition phase and POS (possibly locking stakes from selling at least for a decently long period of time) landing asset (fees will avoid inflation seen in other POS coins), in order to get rid of hungry Chinese miners and eventually realizing Satoshi's idealistic dream of one CPU one coin.
Quote
but don't worry it will be listed soon enough. I expect exchanges like bitfinex, yobit and couple of greedy ones add it on the first day and then if it can gain a half decent volume, poloniex, bittrex, and others will also add it.
Just to comment, an exchange is an exchange, they make money from exchanging, buying and selling commissions and fees.
So, simply if people are trading BS, garbage, specific sea shell, they will simply list it.
Their business has nothing to do with quality, reliability, security, etc... the only care about commissions.
Hi guys,
I just read this article, https://themarketmogul.com/bitcoin-fork-approaches/ and I thought I should share it with you.
Apart from geeky stuff it seems to me that the community does not or didn’t have a specific “definition” for Bitcoin, some see it as x that is deflationary and increases in value all the time, some see it as “currency” or medium of exchange (deflationary as well)
If there is no definition agreed upon, a target agreed upon, forks will be going on all the time.
Just my 2 cents, open source is all about the community, the community means every single player that has to do anything with crypto, developers, users, savers, investors, traders, wallet developers, miners, exchanges, service providers, merchants,.... anybody...
All should listen to and discuss with all, all should agree or compromise so there are no splits.
The stronger the more homogeneous the community is, the stronger the more successful the crypto gets.
I just read this article, https://themarketmogul.com/bitcoin-fork-approaches/ and I thought I should share it with you.
Apart from geeky stuff it seems to me that the community does not or didn’t have a specific “definition” for Bitcoin, some see it as x that is deflationary and increases in value all the time, some see it as “currency” or medium of exchange (deflationary as well)
If there is no definition agreed upon, a target agreed upon, forks will be going on all the time.
Just my 2 cents, open source is all about the community, the community means every single player that has to do anything with crypto, developers, users, savers, investors, traders, wallet developers, miners, exchanges, service providers, merchants,.... anybody...
All should listen to and discuss with all, all should agree or compromise so there are no splits.
The stronger the more homogeneous the community is, the stronger the more successful the crypto gets.
If you have your private key stored, you're perfectly fine.
You can import this any moment in any Bitcoin wallet client, make sure it is verified safe. You can find a whole list here: https://bitcoin.org/en/choose-your-wallet. So uninstalling won't be a problem as long as you have your private key stored. The fork can not accidentally change your BTC to BTG, the fork is a copy of Bitcoin's current blockchain which will split after 25 October. Every BTC you have now will correspond to one BTG. Both wallets will have the same private key, so make sure you import it to a verified BTG client. Otherwise your key can get stolen. A good solution for this is sending your BTC to a new wallet after 25 October and then importing the old wallet key in a BTG client. The safest wallet is just personal preference, Armory is in my opinion the safest wallet. But it is quite complicated. Electrum or Core are more user friendly.
That seems to be a prett good point to me about sending your BTC to a newly generated address after a fork, one other small point, that may or may not be practical is, if possible to avoid making transactions around the time of the fork.You can import this any moment in any Bitcoin wallet client, make sure it is verified safe. You can find a whole list here: https://bitcoin.org/en/choose-your-wallet. So uninstalling won't be a problem as long as you have your private key stored. The fork can not accidentally change your BTC to BTG, the fork is a copy of Bitcoin's current blockchain which will split after 25 October. Every BTC you have now will correspond to one BTG. Both wallets will have the same private key, so make sure you import it to a verified BTG client. Otherwise your key can get stolen. A good solution for this is sending your BTC to a new wallet after 25 October and then importing the old wallet key in a BTG client. The safest wallet is just personal preference, Armory is in my opinion the safest wallet. But it is quite complicated. Electrum or Core are more user friendly.
To be honest i dont think this will slow down anything. We dont have any exchange that is confirmed that it will do this as well we dont have any wallet, then main question is if this is happening in few days who will get it when there is no wallet. For bitcoincash it was well announced but here no words at all.
for bitcoin cash it was announced fast because big pockets are supporting it and they have lots of money to spend and they also communicated better with exchanges and others. BTG in comparison is not communicating well and also it lacks the financial support to be able to advertise it like that or even list it on exchanges with bribes.
but don't worry it will be listed soon enough. I expect exchanges like bitfinex, yobit and couple of greedy ones add it on the first day and then if it can gain a half decent volume, poloniex, bittrex, and others will also add it.
If you have your private key stored, you're perfectly fine.
You can import this any moment in any Bitcoin wallet client, make sure it is verified safe. You can find a whole list here: https://bitcoin.org/en/choose-your-wallet. So uninstalling won't be a problem as long as you have your private key stored. The fork can not accidentally change your BTC to BTG, the fork is a copy of Bitcoin's current blockchain which will split after 25 October. Every BTC you have now will correspond to one BTG. Both wallets will have the same private key, so make sure you import it to a verified BTG client. Otherwise your key can get stolen. A good solution for this is sending your BTC to a new wallet after 25 October and then importing the old wallet key in a BTG client. The safest wallet is just personal preference, Armory is in my opinion the safest wallet. But it is quite complicated. Electrum or Core are more user friendly.
That seems to be a prett good point to me about sending your BTC to a newly generated address after a fork, one other small point, that may or may not be practical is, if possible to avoid making transactions around the time of the fork.You can import this any moment in any Bitcoin wallet client, make sure it is verified safe. You can find a whole list here: https://bitcoin.org/en/choose-your-wallet. So uninstalling won't be a problem as long as you have your private key stored. The fork can not accidentally change your BTC to BTG, the fork is a copy of Bitcoin's current blockchain which will split after 25 October. Every BTC you have now will correspond to one BTG. Both wallets will have the same private key, so make sure you import it to a verified BTG client. Otherwise your key can get stolen. A good solution for this is sending your BTC to a new wallet after 25 October and then importing the old wallet key in a BTG client. The safest wallet is just personal preference, Armory is in my opinion the safest wallet. But it is quite complicated. Electrum or Core are more user friendly.
To be honest i dont think this will slow down anything. We dont have any exchange that is confirmed that it will do this as well we dont have any wallet, then main question is if this is happening in few days who will get it when there is no wallet. For bitcoincash it was well announced but here no words at all.
For now,, as I have received my bitcoin equivalent from bitcoin cash fork last August from the exchange wallet that I’ve been using.. I’m a less worried about any fork that might come.. I have to spread the news as it feels more hassle free for me and a not risky at all.. I’m just waiting for any updates from them for this October 25th bitcoin Gold fork and November Segwit2.. It should be wiser to ask your service provider customer support for this kind of updates..
Wait what? I thought that Bitcoin Gold and Segwit 2 are same shit, thought it was synonymous. So basically we are going to have 2 works in upcoming month?
Edit: Ah after reading whole topic, it looks like this are 2 different things. Do we know maybe precise date when will segwitx2 happen?
We can't say exactly on what time and date it will happen but it can be estimated factoring the average block time (~10m) with the blocks left before activation, which is at block 494784. Every day the calculation should be more precise, because you eliminate the estimated time of previous blocks to real values. So let's do a calculation right now, current block height is 490486. That's 494784-490486=4298 blocks left before activation. So 42980 minutes, that's 29 days (42980/60/24). So it should happen around the 16th of November.
For now,, as I have received my bitcoin equivalent from bitcoin cash fork last August from the exchange wallet that I’ve been using.. I’m a less worried about any fork that might come.. I have to spread the news as it feels more hassle free for me and a not risky at all.. I’m just waiting for any updates from them for this October 25th bitcoin Gold fork and November Segwit2.. It should be wiser to ask your service provider customer support for this kind of updates..
Wait what? I thought that Bitcoin Gold and Segwit 2 are same shit, thought it was synonymous. So basically we are going to have 2 works in upcoming month?
Edit: Ah after reading whole topic, it looks like this are 2 different things. Do we know maybe precise date when will segwitx2 happen?
The coming fork this October 25th and the hard fork after that is starting to turn into a big clusterf*ck. I heard that F2Pool is withdrawing his support for Segwit2x? This is turning into a very big fiasco and it will surely drag the price of the coin down when it keeps on happening.
If you have your private key stored, you're perfectly fine.
You can import this any moment in any Bitcoin wallet client, make sure it is verified safe. You can find a whole list here: https://bitcoin.org/en/choose-your-wallet. So uninstalling won't be a problem as long as you have your private key stored. The fork can not accidentally change your BTC to BTG, the fork is a copy of Bitcoin's current blockchain which will split after 25 October. Every BTC you have now will correspond to one BTG. Both wallets will have the same private key, so make sure you import it to a verified BTG client. Otherwise your key can get stolen. A good solution for this is sending your BTC to a new wallet after 25 October and then importing the old wallet key in a BTG client. The safest wallet is just personal preference, Armory is in my opinion the safest wallet. But it is quite complicated. Electrum or Core are more user friendly.
It depend on your wallet if its safe for coming Fork this coming October 25 2017. keep your private key so you not affect by the fork coming this Oct 2017. But is important to keep you private key, your will be safe.You can import this any moment in any Bitcoin wallet client, make sure it is verified safe. You can find a whole list here: https://bitcoin.org/en/choose-your-wallet. So uninstalling won't be a problem as long as you have your private key stored. The fork can not accidentally change your BTC to BTG, the fork is a copy of Bitcoin's current blockchain which will split after 25 October. Every BTC you have now will correspond to one BTG. Both wallets will have the same private key, so make sure you import it to a verified BTG client. Otherwise your key can get stolen. A good solution for this is sending your BTC to a new wallet after 25 October and then importing the old wallet key in a BTG client. The safest wallet is just personal preference, Armory is in my opinion the safest wallet. But it is quite complicated. Electrum or Core are more user friendly.
Most desktop wallets are fine, they allow you to see your private keys.
Which is the main requirement for claiming forked coins.
If you have your private key stored, you're perfectly fine.
You can import this any moment in any Bitcoin wallet client, make sure it is verified safe. You can find a whole list here: https://bitcoin.org/en/choose-your-wallet. So uninstalling won't be a problem as long as you have your private key stored. The fork can not accidentally change your BTC to BTG, the fork is a copy of Bitcoin's current blockchain which will split after 25 October. Every BTC you have now will correspond to one BTG. Both wallets will have the same private key, so make sure you import it to a verified BTG client. Otherwise your key can get stolen. A good solution for this is sending your BTC to a new wallet after 25 October and then importing the old wallet key in a BTG client. The safest wallet is just personal preference, Armory is in my opinion the safest wallet. But it is quite complicated. Electrum or Core are more user friendly.
That seems to be a prett good point to me about sending your BTC to a newly generated address after a fork, one other small point, that may or may not be practical is, if possible to avoid making transactions around the time of the fork.You can import this any moment in any Bitcoin wallet client, make sure it is verified safe. You can find a whole list here: https://bitcoin.org/en/choose-your-wallet. So uninstalling won't be a problem as long as you have your private key stored. The fork can not accidentally change your BTC to BTG, the fork is a copy of Bitcoin's current blockchain which will split after 25 October. Every BTC you have now will correspond to one BTG. Both wallets will have the same private key, so make sure you import it to a verified BTG client. Otherwise your key can get stolen. A good solution for this is sending your BTC to a new wallet after 25 October and then importing the old wallet key in a BTG client. The safest wallet is just personal preference, Armory is in my opinion the safest wallet. But it is quite complicated. Electrum or Core are more user friendly.
If you still have it, then now it's a good idea too move it to a desktop, paper or hardware wallet.
If you have your private key stored, you're perfectly fine.
You can import this any moment in any Bitcoin wallet client, make sure it is verified safe. You can find a whole list here: https://bitcoin.org/en/choose-your-wallet. So uninstalling won't be a problem as long as you have your private key stored. The fork can not accidentally change your BTC to BTG, the fork is a copy of Bitcoin's current blockchain which will split after 25 October. Every BTC you have now will correspond to one BTG. Both wallets will have the same private key, so make sure you import it to a verified BTG client. Otherwise your key can get stolen. A good solution for this is sending your BTC to a new wallet after 25 October and then importing the old wallet key in a BTG client. The safest wallet is just personal preference, Armory is in my opinion the safest wallet. But it is quite complicated. Electrum or Core are more user friendly.
It depend on your wallet if its safe for coming Fork this coming October 25 2017. keep your private key so you not affect by the fork coming this Oct 2017. But is important to keep you private key, your will be safe.You can import this any moment in any Bitcoin wallet client, make sure it is verified safe. You can find a whole list here: https://bitcoin.org/en/choose-your-wallet. So uninstalling won't be a problem as long as you have your private key stored. The fork can not accidentally change your BTC to BTG, the fork is a copy of Bitcoin's current blockchain which will split after 25 October. Every BTC you have now will correspond to one BTG. Both wallets will have the same private key, so make sure you import it to a verified BTG client. Otherwise your key can get stolen. A good solution for this is sending your BTC to a new wallet after 25 October and then importing the old wallet key in a BTG client. The safest wallet is just personal preference, Armory is in my opinion the safest wallet. But it is quite complicated. Electrum or Core are more user friendly.
If you have your private key stored, you're perfectly fine.
You can import this any moment in any Bitcoin wallet client, make sure it is verified safe. You can find a whole list here: https://bitcoin.org/en/choose-your-wallet. So uninstalling won't be a problem as long as you have your private key stored. The fork can not accidentally change your BTC to BTG, the fork is a copy of Bitcoin's current blockchain which will split after 25 October. Every BTC you have now will correspond to one BTG. Both wallets will have the same private key, so make sure you import it to a verified BTG client. Otherwise your key can get stolen. A good solution for this is sending your BTC to a new wallet after 25 October and then importing the old wallet key in a BTG client. The safest wallet is just personal preference, Armory is in my opinion the safest wallet. But it is quite complicated. Electrum or Core are more user friendly.
It depend on your wallet if its safe for coming Fork this coming October 25 2017. keep your private key so you not affect by the fork coming this Oct 2017. But is important to keep you private key, your will be safe.You can import this any moment in any Bitcoin wallet client, make sure it is verified safe. You can find a whole list here: https://bitcoin.org/en/choose-your-wallet. So uninstalling won't be a problem as long as you have your private key stored. The fork can not accidentally change your BTC to BTG, the fork is a copy of Bitcoin's current blockchain which will split after 25 October. Every BTC you have now will correspond to one BTG. Both wallets will have the same private key, so make sure you import it to a verified BTG client. Otherwise your key can get stolen. A good solution for this is sending your BTC to a new wallet after 25 October and then importing the old wallet key in a BTG client. The safest wallet is just personal preference, Armory is in my opinion the safest wallet. But it is quite complicated. Electrum or Core are more user friendly.
Just wondering, as I am reading a lot about Fork risks especially with bitcoin gold.
I have the private keys (the 12 words) safely stored.
What if I simply uninstall the wallet that has my BTC (it is Jaxx by the way) before the fork, then reinstall later and recover from the 12 keywords. Would that be ok or will be risk?
Would my BTC remain BTC or can accidentally be changed to BTG?
What safest wallet?
Your help highly appreciated.
Do not worry too much about this, you can still keep it as bitcoin and it will not turn into bitcoin gold. Blocking your bitcoin may prevent you from receiving extra bitcoin gold from the hard fork event.I have the private keys (the 12 words) safely stored.
What if I simply uninstall the wallet that has my BTC (it is Jaxx by the way) before the fork, then reinstall later and recover from the 12 keywords. Would that be ok or will be risk?
Would my BTC remain BTC or can accidentally be changed to BTG?
What safest wallet?
Your help highly appreciated.
Another piece of info SegWit2x related:
https://github.com/bitcoin/bitcoin/pull/10982
"Immediately disconnect peers that use service bits 6 and 8 until August 1st, 2018
These bits have been used as a flag to indicate that a node is running incompatible
consensus rules instead of changing the network magic, so we're stuck disconnecting
based on the service bits, at least for a while.
Staying connected to nodes on other networks only prevents both sides from reaching consensus quickly, wastes network resources on both sides, etc....."
Looks like that at least Bitcoin Core wallet is already safe from that hard-fork.
https://github.com/bitcoin/bitcoin/pull/10982
"Immediately disconnect peers that use service bits 6 and 8 until August 1st, 2018
These bits have been used as a flag to indicate that a node is running incompatible
consensus rules instead of changing the network magic, so we're stuck disconnecting
based on the service bits, at least for a while.
Staying connected to nodes on other networks only prevents both sides from reaching consensus quickly, wastes network resources on both sides, etc....."
Looks like that at least Bitcoin Core wallet is already safe from that hard-fork.
Jump to: