The Coming Fork(s) Safety For BItcoins - page 7.

limopc

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Quote from: Aura on October 15, 2017, 01:52:43 PM

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.

You're right, I forgot to mention that.
To make sure you don't lose your forked coins, wait at least 12 hours after the work.
After that it's totally safe.

Sounds ok, but I read that wallets automatically follow the “longest” blockchain, does this mean that my wallet can decide on its own that my coins are BTG not BTC? How to be sure then after the fork if I buy BTC on local bitcoins and send the purchased BTC to my wallet it will come in my wallet as BTC not BTG?

Any further clarification is highly appreciated.

Aura

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Activity: 518

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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.

You're right, I forgot to mention that.
To make sure you don't lose your forked coins, wait at least 12 hours after the work.
After that it's totally safe.

bucksman5233

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If you have your private keys stored safely then no need to worry. You can claim Bitcoin gold later when the dust settles. Wallets like Electrum, Mycelium, jaxx, blockchain are all safe and don't store in anything in exchanges like Bittrex, Coinbase etc because you don't hold your private keys.

pawanjain

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Nothing lasts forever

Quote from: Kingofbitcoin12345 on October 14, 2017, 07:45:04 PM

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..

That is the thing I was going to do too but then there are no updates from any exchanges other than Yobit yet regarding the fork. The last time I had kept my coins on Bittrex since it was supporting the fork and I got my equivalent amount but there is no word from them too.
So its quite difficult now to say what to do if the exchanges wouldn't be supporting it like the last time. Better to keep the coins with a private key aside to be on the safer side.

dificanovi

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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.

I think you do not need to delete BTC. I suggest you still have BTC wallet because your coin will be safe on BTC wallet. if you want to have BTG no need to delete BTC, you better have both.

limopc

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Quote from: limopc on October 14, 2017, 06:53:34 PM

Quote from: khufuking on October 14, 2017, 10:01:22 AM

Your BTC should be safe unless you tried to claim your coins from the other chain , Just keep you coins and do not make any transaction at the time of fork . And as stated above never try to claim your coins before move your BTC to new address and just use your old address private keys to claim you coins , Until this moment it is not clear if there will be a real strong reply protection or not . I am sure when time come close there will be some guides related to how to claim your coins safely .

This sounds great.

So, I should send to myself all my BTC after the fork and after things get stable. Should I send to same wallet (Jaxx) or to another wallet (Bread)?

Then I should claim my new BTG from the old wallet?

But why send to myself if it will remain in same wallet?

So, no need to uninstall wallet then reinstall, just don’t make transactions?

Any inputs?

Kingofbitcoin12345

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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..

limopc

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Activity: 98

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Quote from: khufuking on October 14, 2017, 10:01:22 AM

Your BTC should be safe unless you tried to claim your coins from the other chain , Just keep you coins and do not make any transaction at the time of fork . And as stated above never try to claim your coins before move your BTC to new address and just use your old address private keys to claim you coins , Until this moment it is not clear if there will be a real strong reply protection or not . I am sure when time come close there will be some guides related to how to claim your coins safely .

This sounds great.

So, I should send to myself all my BTC after the fork and after things get stable. Should I send to same wallet (Jaxx) or to another wallet (Bread)?

Then I should claim my new BTG from the old wallet?

But why send to myself if it will remain in same wallet?

So, no need to uninstall wallet then reinstall, just don’t make transactions?

khufuking

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Your BTC should be safe unless you tried to claim your coins from the other chain , Just keep you coins and do not make any transaction at the time of fork . And as stated above never try to claim your coins before move your BTC to new address and just use your old address private keys to claim you coins , Until this moment it is not clear if there will be a real strong reply protection or not . I am sure when time come close there will be some guides related to how to claim your coins safely .

Nicol3

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Quote from: limopc on October 14, 2017, 08:20:49 AM

Thanks guys,

So what I understand all what I have to do is to keep my Jaxxx wallet as it is, but I should only refrain from moving bitcoins during or after the fork. No need to uninstall and reinstall. Am I getting it right?

Yes that's correct. Your bitcoins are safe in your Jaxxx wallet for as long as your are not making any transactions around the fork timeframe. I do have a couple of bitcoins stored in my Jaxxx wallet too so I can actually relate to what you are concerned about.

okbit

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As long as you have your private keys you are good. Has anyone heard for sure what Coinbase's position will be?

MONSUN

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Read congestion and backlog is back in network .. time again increased for confirmation .. will bitcoin ever server micro payments ?

californiaquail

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These Bitcoin clones are f****g disgusting.

This is textbook financial terrorism, if anything this is what will bring Bitcoin to its knees.

It's not even about complexity for users, it's about brand parasitism and using bitcoin fame against its value without any kind of legitimacy.

Now of course what kind of greedy idiot wouldn't want free money ? Whoever is behind those Bitcoin clones, they found a weak spot in people's greed.

At the end of the day, this is going to hurt bitcoin more than anything ever attempted by its ennemies, mark my words this will bring Bitcoin down, eventually.

Marileno

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These splits are extremely confusing and i am against them. The whole concept is complex enough to get across to main stream people. It appears as though they are necessary though. I wish there were some definitive explanations on these in a centralised place, so the information put out is consistent and accurate. Can anyone point me to such a resource?

apologies is this has already been asked and answered.

Bunsomjelican

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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.

You've almost gave a good advised and opinion to anyone here in the forum. And those wallet you had mentioned was also quite proven and tested too which is Electrum wallet, and the most important was keeping the private key and the seed phrase in the wallet of course.

aizen10

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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.

yes its always safe, because you have your secret 12 word phrase to full control your bitcoin wallet even you uninstall it and reinstall again after or during the fork, i think the risk is on the out side (blockchain) if you do transfer your bitcoin during the hard fork theres a chance to lose that bitcoin, so wait until the fork finish and dont make any transaction during hard fork to avoid losing bitcoin on the blockchain.

chesegrinder

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as long as you hold your private key it is safe even you accidentally uninstall your wallet on your computer just download it again and insert your private key. To the upcoming fork this october 25 in my opinion it is safe to avoid any transaction during and the fork I experience having trouble last fork of august as i accidentally send a 0.3BTC in one of my wallet, it took 3 day or 4 days before i received it, at first i think it was lost on the blockchain.

limopc

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Thanks guys,

So what I understand all what I have to do is to keep my Jaxxx wallet as it is, but I should only refrain from moving bitcoins during or after the fork. No need to uninstall and reinstall. Am I getting it right?

thebanker28

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Activity: 303

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Quote from: Emerge on October 14, 2017, 07:59:28 AM

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.

Hopefully it doesnt come to that but I guess this is high stakes.

thebanker28

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Activity: 303

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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.

Topic: The Coming Fork(s) Safety For BItcoins - page 7. (Read 2795 times)