What happens to my coins if Bitcoin splits?

calkob

hero member

Activity: 1106

Merit: 521

Quote from: educated on March 20, 2017, 04:26:49 PM

What will happen to my bitcoins if Bitcoin splits into two separate coins? What will I own in that case, coin 1 or coin 2? Or both?

What if I don't touch my bitcoins for the next 2 years, leave them on a paper wallet (so to speak)?

This is really confusing for me and I'm not sure if I should take any action.

Thank you!

You will own bitcoin on both chains. but you definitely want to have your bitcoin at address of which you control the private keys, if you dont your wallet provider may decide to ignore a certain chain.

DannyHamilton

legendary

Activity: 3472

Merit: 4801

Quote from: educated on March 20, 2017, 04:44:15 PM

So basically if I store the bitcoins myself (say paper wallet), I could theoretically import the private keys later to both chains (separately) and access my coins, right?

Correct.

educated

newbie

Activity: 10

Merit: 0

Quote from: DannyHamilton on March 20, 2017, 04:31:54 PM

Quote from: educated on March 20, 2017, 04:26:49 PM

What will happen to my bitcoins if Bitcoin splits into two separate coins? What will I own in that case, coin 1 or coin 2? Or both?

That depends on how you access your coins.

If you are using an account provided by a service then they get to decide for you.

If you are running your own wallet software, then you will technically have both, but the wallet software you are running may not provide access to both.

Quote from: educated on March 20, 2017, 04:26:49 PM

What if I don't touch my bitcoins for the next 2 years, leave them on a paper wallet (so to speak)?

Then you get to decide in 2 years when you choose what wallet software you want to import the private keys into. Technically you'll have both (if both chains still exist), but the wallet software you are running may not provide access to both.

So basically if I store the bitcoins myself (say paper wallet), I could theoretically import the private keys later to both chains (separately) and access my coins, right?

DannyHamilton

legendary

Activity: 3472

Merit: 4801

Quote from: educated on March 20, 2017, 04:26:49 PM

What will happen to my bitcoins if Bitcoin splits into two separate coins? What will I own in that case, coin 1 or coin 2? Or both?

That depends on how you access your coins.

If you are using an account provided by a service then they get to decide for you.

If you are running your own wallet software, then you will technically have both, but the wallet software you are running may not provide access to both.

Quote from: educated on March 20, 2017, 04:26:49 PM

What if I don't touch my bitcoins for the next 2 years, leave them on a paper wallet (so to speak)?

Then you get to decide in 2 years when you choose what wallet software you want to import the private keys into. Technically you'll have both (if both chains still exist), but the wallet software you are running may not provide access to both.

educated

newbie

Activity: 10

Merit: 0

What will happen to my bitcoins if Bitcoin splits into two separate coins? What will I own in that case, coin 1 or coin 2? Or both?

What if I don't touch my bitcoins for the next 2 years, leave them on a paper wallet (so to speak)?

This is really confusing for me and I'm not sure if I should take any action.

Thank you!

Topic: What happens to my coins if Bitcoin splits? (Read 667 times)