The Coming Fork(s) Safety For BItcoins - page 5.

robelneo

legendary

Activity: 3416

Merit: 1225

Quote from: thebanker28 on October 14, 2017, 08:01:24 AM

Quote from: Aura on October 14, 2017, 07:56:15 AM

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.

Two or three days before the fork , exchange and other site, that transact with bitcoin cease to transact so we can expect transaction to slow down before the october 25 fork just like what happen last August when Bitcoincash was released

illyiller

hero member

Activity: 697

Merit: 520

Quote from: toltec3000 on October 18, 2017, 05:24:52 AM

Quote

I'm pretty sure the Bitcoin Gold project was launched to discredit both BCH and B2X -- they all look like crappy altcoins now. As such, I think they will follow through with the time-tested and somewhat trivial address/transaction format change to prevent replay.

WTF
bch is crap altcoin
b2x is fckn dangerous attack on legacy bitcoin

We'll see how dangerous it really is. An attack, yes. Although I disagree with the characterization many make that it's a 51% attack to stop mining the legacy chain and migrate to a different network. A 51% attack is a censorship attack. If 90% of the miners hard fork away from Bitcoin, it's more of a "starvation attack." The intent/result is to starve users of transaction confirmations to incentivize them to use the hard fork chain.

If anything, this is an important test for Bitcoin. Is it still a decentralized network? Or do a few centralized companies act for most of the users? If the NYA companies are successful in co-opting Bitcoin, being a Bitcoin maximalist stops looking so attractive...

toltec3000

newbie

Activity: 18

Merit: 0

I'm pretty sure the Bitcoin Gold project was launched to discredit both BCH and B2X -- they all look like crappy altcoins now. As such, I think they will follow through with the time-tested and somewhat trivial address/transaction format change to prevent replay.
[/quote]

WTF
bch is crap altcoin
b2x is fckn dangerous attack on legacy bitcoin

newlone

full member

Activity: 140

Merit: 100

Quote from: limopc on October 14, 2017, 07:23:07 AM

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.

squatter

legendary

Activity: 1666

Merit: 1196

STOP SNITCHIN'

Quote from: pooya87 on October 18, 2017, 04:40:24 AM

Quote from: squatter on October 18, 2017, 04:36:05 AM

Quote from: limopc on October 18, 2017, 04:00:39 AM

So, just should not send or receive till things settle down?

For the October 25th fork, there should be nothing to worry about. According to the BTG developers, there will be strong replay protection. So if you move your BTC, the BTG will stay in the old addresses. After the fork, if you want to claim the Bitcoin Gold, just move your BTC to a new address. Then download the Bitcoin Gold wallet on a throwaway machine / virtual machine and import the private keys that held BTC at fork time.

The main concern with Bitcoin Gold, in my eyes, is malware. There is a chance your private keys will be used to steal your BTC, so make sure to move your BTC first, and only import keys into the BTG wallet which are currently empty on the BTC chain.

the main concern regarding bitcoin gold is its replay protection.
their website says their coin has a replay protection but i have not seen any recent commit to their github code base that adds this, it is possible that i have missed it but in case i haven't it should be the main concern of you. because making any transaction on BTG without replay protection means losing your bitcoins on the BTC chain.

It the Bitcoin Gold developers are lying and they aren't adding replay protection, the project is dead in the water anyway. And it's not a concern based on the above: "only import keys into the BTG wallet which are currently empty on the BTC chain." I would never put BTC at risk to get some airdropped tokens. Cheesy

I'm pretty sure the Bitcoin Gold project was launched to discredit both BCH and B2X -- they all look like crappy altcoins now. As such, I think they will follow through with the time-tested and somewhat trivial address/transaction format change to prevent replay.

pooya87

legendary

Activity: 3472

Merit: 10611

Quote from: squatter on October 18, 2017, 04:36:05 AM

Quote from: limopc on October 18, 2017, 04:00:39 AM

So, just should not send or receive till things settle down?

For the October 25th fork, there should be nothing to worry about. According to the BTG developers, there will be strong replay protection. So if you move your BTC, the BTG will stay in the old addresses. After the fork, if you want to claim the Bitcoin Gold, just move your BTC to a new address. Then download the Bitcoin Gold wallet on a throwaway machine / virtual machine and import the private keys that held BTC at fork time.

The main concern with Bitcoin Gold, in my eyes, is malware. There is a chance your private keys will be used to steal your BTC, so make sure to move your BTC first, and only import keys into the BTG wallet which are currently empty on the BTC chain.

the main concern regarding bitcoin gold is its replay protection.
their website says their coin has a replay protection but i have not seen any recent commit to their github code base that adds this, it is possible that i have missed it but in case i haven't it should be the main concern of you. because making any transaction on BTG without replay protection means losing your bitcoins on the BTC chain.

squatter

legendary

Activity: 1666

Merit: 1196

STOP SNITCHIN'

Quote from: limopc on October 18, 2017, 04:00:39 AM

So, just should not send or receive till things settle down?

For the October 25th fork, there should be nothing to worry about. According to the BTG developers, there will be strong replay protection. So if you move your BTC, the BTG will stay in the old addresses. After the fork, if you want to claim the Bitcoin Gold, just move your BTC to a new address. Then download the Bitcoin Gold wallet on a throwaway machine / virtual machine and import the private keys that held BTC at fork time.

The main concern with Bitcoin Gold, in my eyes, is malware. There is a chance your private keys will be used to steal your BTC, so make sure to move your BTC first, and only import keys into the BTG wallet which are currently empty on the BTC chain.

toltec3000

newbie

Activity: 18

Merit: 0

in this thread you can see how much people are actually confused
this is my resum of information I found so far :

BTG fork should be dead easy if - there is realy strong replay protection
- they will release any wallet supporting btg to claim your btg

what is a fair bit more dangerous is 2x fork as there will be no strong replay protection and nobody so far gave a proper advise how to use optional replay protection, where youre suppose to send bitcoin with two outputs in one transaction.
also unlike with BTG after the 2x fork the hash rate will decrease by extreme amount so we can expect milions of unconfirmed transaction and I gues those tricky miners are so bad that theyre able to make 51% attack as well to destroy LEGACY BITCOIN. this is scarying enough...

limopc

member

Activity: 98

Merit: 10

Quote from: Wowcoin on October 18, 2017, 03:41:14 AM

Quote from: limopc on October 14, 2017, 07:23:07 AM

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.

If you save all that i think its safe you can uninstall it and install it later. If you have bitcoin it stays bitcoin.
I think you will get BTG if that wallet supported but some wallet didn't give BTG if you stored your bitcoin.

Which wallet you think will not follow BTG for sure? I am on iOS, familiar with bread and jaxx, what you think?
Thanks

limopc

member

Activity: 98

Merit: 10

So, just should not send or receive till things settle down?

Wowcoin

hero member

Activity: 910

Merit: 507

Quote from: limopc on October 14, 2017, 07:23:07 AM

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.

If you save all that i think its safe you can uninstall it and install it later. If you have bitcoin it stays bitcoin.
I think you will get BTG if that wallet supported but some wallet didn't give BTG if you stored your bitcoin.

pooya87

legendary

Activity: 3472

Merit: 10611

Quote from: limopc on October 18, 2017, 03:26:29 AM

Still hoping BTC developers can settle this.

bitcoin is not a centralized alt-shit-coin that the developers settle things for its future.
bitcoin is a decentralized system and the whole system has to settle the arguments based on what we can call "consensus". so far this has proven to be working and it has countered all the attacks such as bitcoin cash and pushed them out like a useless altcoin they are. it should be like that in the future too.

ahmad21

sr. member

Activity: 672

Merit: 271

There is no need to do such a thing. Dont hope for an improved security even if you uninstall your wallet. Things will remain same. Only you wont be able to access your wallet. Moreover this wont even affect your btg tokens too.

limopc

member

Activity: 98

Merit: 10

Still hoping BTC developers can settle this.

limopc

member

Activity: 98

Merit: 10

Quote from: Kakmakr on October 18, 2017, 01:04:32 AM

The 12 words are called a "seed", not a private key. The third party service providers provide that seed for people to recover their wallet data, when they lose their passwords or access to their wallet. You only have full control and access to coins that are generated from these forks , when you are the sole owner of the private key for your bitcoins.

This is why almost 90% of my coins are transferred to cold storage/paper wallets. < When a fork happens, I can decide when and how I want to use those free coins, not some third party service provider >

Ok, so, the private key is not the seed, but anyway if it is a wallet like jaxx or bread, the private key is stored inside the wallet.

If I don’t make a transaction so it is ok?

What about previous posts saying it’s ok if I don’t make a transaction?

When you say third party, do you mean jaxx or bread wallet? How can they if AFAIK my private keys are encrypted inside the wallet?

Am I right?

So, I am back to uninstall the wallet, then later install and restore using the seed. Is this Ok?

Kakmakr

legendary

Activity: 3514

Merit: 1963

Leading Crypto Sports Betting & Casino Platform

The 12 words are called a "seed", not a private key. The third party service providers provide that seed for people to recover their wallet data, when they lose their passwords or access to their wallet. You only have full control and access to coins that are generated from these forks , when you are the sole owner of the private key for your bitcoins.

This is why almost 90% of my coins are transferred to cold storage/paper wallets. < When a fork happens, I can decide when and how I want to use those free coins, not some third party service provider >

limopc

member

Activity: 98

Merit: 10

Quote from: golfdoug on October 17, 2017, 11:34:59 PM

Just a question from a newbie. If I empty mycelium wallet and convert purchases to a Paper Wallet (creating Paper Certificate Notes) when they begin giving out fork perks ( new coins ) will Paper Bitcoins be eliminated from distribution because my Bitcoins are not visible online? Tks

I believe it will remain of course BTC. Only if it gets imported into a wallet after the fork the wallet will receive BTG.

That is, I believe if you sold physically your paper wallet to someone after the fork you will be selling him as well the same amount of BTG.

Someone correct me if I am wrong

golfdoug

newbie

Activity: 13

Merit: 0

Just a question from a newbie. If I empty mycelium wallet and convert purchases to a Paper Wallet (creating Paper Certificate Notes) when they begin giving out fork perks ( new coins ) will Paper Bitcoins be eliminated from distribution because my Bitcoins are not visible online? Tks

limopc

member

Activity: 98

Merit: 10

Quote from: karmakeddon on October 17, 2017, 11:13:16 PM

I got a question that is nagging on my mind. How long do I have to wait before moving my coins into a new wallet after the fork? I remembered during the Segwit fork that I transferred my btc to a fresh wallet around 48 hours after the fork but the transfer still became delayed for days. I do hope that this does not happen again.

Well, I see you just added another point to my 2 points above, another point to be included in the “hoped” press release.

My personal point of view, as I am a long term investor, I don’t really mind about getting my free BTG or when.
I simply assume it didn’t happen, I can claim it any time later, though expecting great fluctuation in BTG value, but I initially assume it didn’t happen. All what I care about is my BTC.

Hope developers would show up.

karmakeddon

sr. member

Activity: 378

Merit: 251

I got a question that is nagging on my mind. How long do I have to wait before moving my coins into a new wallet after the fork? I remembered during the Segwit fork that I transferred my btc to a fresh wallet around 48 hours after the fork but the transfer still became delayed for days. I do hope that this does not happen again.

Topic: The Coming Fork(s) Safety For BItcoins - page 5. (Read 2791 times)