Topic: What will happen in Mycelium with regards to a hard fork? (Read 3151 times)
I think rather than exchanges facilitating forks only, wallets should do it also, because a lot of people don’t trust exchanges with their coins, mainly because they do not possess the private key, with that they are only numbers on a screen.
As much as I hate to admit it... even a b.info wallet is technically "OK" when it comes to a fork... (NOTE: for the record, web wallets are still a really "Bad Idea"™ in general and you should get a "proper" wallet)
b.info provides you with a recovery seed... which is a BIP39 compatible seed that uses the BIP44 Derivation Path of m/44'/0'/0'/0... so technically, you DO have access to the private keys for your account... in fact, you can just install Electrum, "Restore" your seed (selecting "Options -> BIP39 seed" during seed input) and you should be able to restore ALL your addresses/transaction history without having to send them.
You can also get direct access to the addresses/keys using (an offline copy of) the BIP39 mnemonic code converter: https://iancoleman.github.io/bip39/
They also give you access to the private key(s) for any address(es) that you have "imported" to your b.info wallet
The result of all this is that leaving your coins in b.info "should" be OK if a fork occurs... just make sure you have your seed safely written down and stored offline... and have exported the keys for any imported addresses.
b.info provides you with a recovery seed... which is a BIP39 compatible seed that uses the BIP44 Derivation Path of m/44'/0'/0'/0... so technically, you DO have access to the private keys for your account... in fact, you can just install Electrum, "Restore" your seed (selecting "Options -> BIP39 seed" during seed input) and you should be able to restore ALL your addresses/transaction history without having to send them.
You can also get direct access to the addresses/keys using (an offline copy of) the BIP39 mnemonic code converter: https://iancoleman.github.io/bip39/
They also give you access to the private key(s) for any address(es) that you have "imported" to your b.info wallet
The result of all this is that leaving your coins in b.info "should" be OK if a fork occurs... just make sure you have your seed safely written down and stored offline... and have exported the keys for any imported addresses.
I'm still confuse on what I need to do with this upcoming hard fork, I've got my coins at blockchain.info any tutorial for this to put it on a safer place?
Just download any offline wallet like Electrum (recommended), create a new wallet and send your coins to your new address. If we ever split the chain, provided that you don't touch your coins (spending) in the early stage of the split, you and your coins will be fine.Then just wait for instructions. I'm sure that there will be articles telling you what to do if you want to follow X chain.
I'm still confuse on what I need to do with this upcoming hard fork, I've got my coins at blockchain.info any tutorial for this to put it on a safer place?
I dont gave a Trezor or Ledger Nano yet. Which wallet would be the safest to keep my BTC if a hard fork occurs?
What people need to realise is that if a hard fork occurs... you are NOT going to lose your coins if you have access to your private keys. If you have your private keys, you can import them into "LeftForkWallet"™ and get access to the "LeftForkCoins"™... and/or put them in the "RightForkWallet"™ and get access to the "RightForkCoins"™.
The only people who should be nervous are people who have their coins stored in Online Services like gambling sites, exchanges and a number of web wallets like Xapo and Coinbase etc where you do NOT have access to the private keys or the seed/mnemonic used to restore the wallet. In those instances, your coins are effectively just a number in a database somewhere... the service holds the keys and will end up deciding which fork to follow... left, right or both... and how they want to give you those coins... or not give you
as I posted in another thread:
Quote
Simple test to see if your wallet is suitable for holding coins:
1. Does your wallet provide you with the private keys for all addresses contained in it?
Yes? Wallet is OK.
No? Wallet is not Ok.
1. Does your wallet provide you with the private keys for all addresses contained in it?
Yes? Wallet is OK.
No? Wallet is not Ok.
I would hope that they would provide an update to include BU support otherwise many will go elsewhere.
I dont gave a Trezor or Ledger Nano yet. Which wallet would be the safest to keep my BTC if a hard fork occurs?
Given the Mycelium doesn't support BU as far as I can tell... in the event of a hard fork, you'd need to get a BU compatible wallet and import your keys there... all your shiny new BU coins should then show up and you can do with them what you want.
Unless of course the Mycelium team build in BU support in an upcoming update
Unless of course the Mycelium team build in BU support in an upcoming update
It is possible to import the addresses in mycelium's first account into electrum, but it doesn't seem possible to import addresses from any other mycelium accounts into electrum. A few people had success with importing the first account in this thread.
https://bitcointalksearch.org/topic/is-there-a-way-for-me-to-use-a-mycelium-hd-wallet-in-electrum-or-vise-versa-1813651
edit
It does work with multiple accounts, a user called Michail1 worked out how to do it.
*snip*
I have tested with a multiple mycelium account wallet.
It will work for other accounts; however, you have to restore them individually. Meaning, follow the process outlined prior for each account within the wallet seed. You get a popup asking which account you want to restore.
My seed has 6 accounts. 0-5 I restored the first 4 as tests to know that it works.
I have tested with a multiple mycelium account wallet.
It will work for other accounts; however, you have to restore them individually. Meaning, follow the process outlined prior for each account within the wallet seed. You get a popup asking which account you want to restore.
My seed has 6 accounts. 0-5 I restored the first 4 as tests to know that it works.
Given the Mycelium doesn't support BU as far as I can tell... in the event of a hard fork, you'd need to get a BU compatible wallet and import your keys there... all your shiny new BU coins should then show up and you can do with them what you want.
Unless of course the Mycelium team build in BU support in an upcoming update
Unless of course the Mycelium team build in BU support in an upcoming update
Will I be able to spend both coins, or will I have to export the wallet somewhere else?
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