When hard fork arrived, what should I be prepared?

d1ceplayer

sr. member

Activity: 686

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Quote from: AlexaSonda on October 01, 2018, 12:06:11 AM

Quote from: beerlover on September 30, 2018, 11:55:01 PM

Quote from: cissrawk on September 27, 2018, 05:03:02 AM

Don't do anything and wait until fork done, when fork, they can't let you send your coins to another address for some hours or day, you just need to keep it in your wallet.
If you too scared, just exchange your coin to another coin.

Yes, you cannot do anything until after the hard fork as the only thing anyone can do is to just most of the time ascertain that they are holding their funds in a decentralized wallet in which they have the private keys and then be patient to see how things would be like after the fork, rather than being too much in a hurry and for what it is worth, everyone will always have a chance to get to know what they are to do exactly in each case.

Also, like you said, exchanging simply to another coin simply douses the fear if the person does not know what to do, but I feel for most part it is not necessary as long as you have your funds in a secured location and you have full control.

swap it for another coin is a good idea and all this time I didn't think about it. but we don't need to worry and if we follow the instructions from the developer correctly, then we don't need to be afraid and the problem will not occur.

Swapping for another coin in most cases can be a wrong idea depending on the coin we are talking about here. For instance, talking about how the market took the Fork that happened in August 2017, we can for sure see how a lot of traders started hopping into bitcoin and how bitcoin skyrocketed prior to that fork as a lot of the investors were looking to have the other side of the fork, so in this case we are looking at the market in question, as well as how people perceive the fork.

Nonetheless, the important thing with a fork is to know that you have a full control of your funds or at least you know that you are safe where you are keeping your funds.

ausbit

legendary

Activity: 1330

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Quote from: spaso_87 on September 27, 2018, 04:08:45 AM

I read the news from some of the following articles:

https://medium.com/futuresin/ethereums-constantinople-hard-fork-to-go-live-in-october-8d9ce7d8a0b8
https://www.coindesk.com/ethereum-is-testing-code-for-its-next-hard-fork/
https://cointelegraph.com/news/ethereum-core-devs-debate-constantinople-hard-fork-and-difficulty-bomb-during-meeting

do fork will happen to ethereum will actually happen? If Yes this certainly would be good news for crypto.
but are the tips or how the attitude of what is to be done in the face of this? Please share your experiences in addressing how hard the fork!

You will always get news on what to do and in most cases of hard fork that has to do with two communities splitting, then, in that case, you will get to know how to always get the other part of the split.

For the moment, there is actually nothing to do, except to put your funds in a controlled wallet or be sure that the centralized wallets you are making use of have plans to help their users go through with the hard fork maintenance as the case may be. The same way you have heard news about the hard fork however, is the same way you will hear the news spread on what you can do.

aencarnaci

sr. member

Activity: 448

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Quote from: Stavri on October 01, 2018, 01:44:07 AM

first of all it is better to keep your belongings in a safe personal wallet. if you keep your coin in exchange you can lost or you can miss getting from fork coin. actually you should be away from keeping your belongings in an exchanges all the time.

That is normally the thing almost everyone should do with forks as we have seen a fork on the Ethereum blockchain in the past that really did not go well for some people who had no control of their funds. Owning your private key to the wallet where you keep your funds is the main thing to always look out for and every other thing can come into play and stay away from transactions as well even few weeks after the fork until there is a clear signal there is no damage and things are going smoothly.

Quote from: sinkfish on October 01, 2018, 05:41:06 AM

best not to do any transaction during the hard fork period. you can withdrawal your coin in to your wallet before the hard fork start.

Yes, avoiding sending/receiving well in advance like 12 to 15 hours is highly suggested. But, keeping coins in exchange will not hurt anyone but sometimes, you may be forced to follow the same chain which is opted by your exchange. Holding in our personal wallet and keeping the private keys is the best option to choose our preferred chain or to enjoy both of the chains.

Valzador

hero member

Activity: 1316

Merit: 503

Quote from: spaso_87 on September 27, 2018, 04:08:45 AM

I read the news from some of the following articles:

https://medium.com/futuresin/ethereums-constantinople-hard-fork-to-go-live-in-october-8d9ce7d8a0b8
https://www.coindesk.com/ethereum-is-testing-code-for-its-next-hard-fork/
https://cointelegraph.com/news/ethereum-core-devs-debate-constantinople-hard-fork-and-difficulty-bomb-during-meeting

do fork will happen to ethereum will actually happen? If Yes this certainly would be good news for crypto.
but are the tips or how the attitude of what is to be done in the face of this? Please share your experiences in addressing how hard the fork!

Learning from when Hardfork bitcoin, many experts advise you to save coins not on the exchange but on your own computer.

nianastasia62

jr. member

Activity: 196

Merit: 1

Live it not as a coin that would lie at the bottom ! After a hard fork is the aggressive growth ! Get ready !

sinkfish

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Activity: 252

Merit: 1

best not to do any transaction during the hard fork period. you can withdrawal your coin in to your wallet before the hard fork start.

chandrarahmadewa

member

Activity: 308

Merit: 49

Hold your coins in your wallet during the hard fork process, do not do transactions until the block fork is passed. Block process is passed You can see it in the block explorer for Bitcoin (example)

Stavri

sr. member

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first of all it is better to keep your belongings in a safe personal wallet. if you keep your coin in exchange you can lost or you can miss getting from fork coin. actually you should be away from keeping your belongings in an exchanges all the time.

Alpha0One1

full member

Activity: 588

Merit: 107

Quote from: bartolo on September 27, 2018, 04:34:38 AM

Quote from: spaso_87 on September 27, 2018, 04:08:45 AM

but are the tips or how the attitude of what is to be done in the face of this? Please share your experiences in addressing how hard the fork!

The only thing you will need to do is be aware of the announcements in the official channels since during a period of time it will not be advisable to send or receive any transaction. You will have to wait until the developers announce that the network can be safely used.

True. Best read up history on last year's fork when Bitcoin Cash was born. Best to keep eth on the wallet you own as well (where you control the priv keys) or hardware wallet like Ledger or Trezor.

Herbert2020

legendary

Activity: 1946

Merit: 1137

regarding hard forks there are two concerns:
1. price concern. this is due to the fact that hard forks are risky and can cause irreparable damage to a decentralized system. the simplest one is a network split, loss of funds,... so as an investor you should worry about the possible dumps that happen because of the fork fear. for example you can see the drop that happened last year because of the fear of bitcoin split due to hard fork proposals and other network splitting risks such as UASF.

2. apart from price, you always risk splitting the network. right now we have a lot of miners who are mining ETH. we also have ASICs being bought by a lot of miners starting their mining operation. they aren't going to let a fork brick their ASIC investments even with difficulty bomb we may see a 3 way split with 1 PoS ETH with only ethereum foundation on it, another legacy ETH with people not wanting to fork and another new PoW fork removing the difficulty bomb (defusing it Cheesy

).

shinratensei_

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Activity: 3276

Merit: 1029

Leading Crypto Sports Betting & Casino Platform

Quote from: spaso_87 on September 27, 2018, 04:08:45 AM

I read the news from some of the following articles:

https://medium.com/futuresin/ethereums-constantinople-hard-fork-to-go-live-in-october-8d9ce7d8a0b8
https://www.coindesk.com/ethereum-is-testing-code-for-its-next-hard-fork/
https://cointelegraph.com/news/ethereum-core-devs-debate-constantinople-hard-fork-and-difficulty-bomb-during-meeting

do fork will happen to ethereum will actually happen? If Yes this certainly would be good news for crypto.
but are the tips or how the attitude of what is to be done in the face of this? Please share your experiences in addressing how hard the fork!

Buy more and more ethereum dude, the difficulty bomb is a key to make ethereum will never face ASIC miners again because they will get less and less on its profit. Remember after the difficulty bomb and there will be POS update and it has been stated on EIP 1011 that the POS will give the possibility to the small ethereum holders to staking their ethereum

AlexaSonda

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Activity: 504

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Quote from: beerlover on September 30, 2018, 11:55:01 PM

Quote from: cissrawk on September 27, 2018, 05:03:02 AM

Don't do anything and wait until fork done, when fork, they can't let you send your coins to another address for some hours or day, you just need to keep it in your wallet.
If you too scared, just exchange your coin to another coin.

Yes, you cannot do anything until after the hard fork as the only thing anyone can do is to just most of the time ascertain that they are holding their funds in a decentralized wallet in which they have the private keys and then be patient to see how things would be like after the fork, rather than being too much in a hurry and for what it is worth, everyone will always have a chance to get to know what they are to do exactly in each case.

Also, like you said, exchanging simply to another coin simply douses the fear if the person does not know what to do, but I feel for most part it is not necessary as long as you have your funds in a secured location and you have full control.

swap it for another coin is a good idea and all this time I didn't think about it. but we don't need to worry and if we follow the instructions from the developer correctly, then we don't need to be afraid and the problem will not occur.

beerlover

legendary

Activity: 3052

Merit: 1188

Quote from: cissrawk on September 27, 2018, 05:03:02 AM

Don't do anything and wait until fork done, when fork, they can't let you send your coins to another address for some hours or day, you just need to keep it in your wallet.
If you too scared, just exchange your coin to another coin.

Yes, you cannot do anything until after the hard fork as the only thing anyone can do is to just most of the time ascertain that they are holding their funds in a decentralized wallet in which they have the private keys and then be patient to see how things would be like after the fork, rather than being too much in a hurry and for what it is worth, everyone will always have a chance to get to know what they are to do exactly in each case.

Also, like you said, exchanging simply to another coin simply douses the fear if the person does not know what to do, but I feel for most part it is not necessary as long as you have your funds in a secured location and you have full control.

tamango

full member

Activity: 602

Merit: 100

If you don't want to have problems just keep your eth in your wallet and don't move them from 1 day before to 1-2 days after fork happened. You don't have to do nothing else.

Red-Apple

hero member

Activity: 1470

Merit: 655

first of all hard forks are never good for a system like this. they are extremely dangerous and should be avoided at all costs. there is a lot of side effects that can come from a hard fork including splitting the coin into two and ruining the whole system.

secondly ETH has never had any clear plans or a good roadmap to stick to. they say a lot of things for example it was supposed to switch to PoS a year ago or maybe more but it never happened. so is the same with a lot of other promises they made to solve the problems that are unsolvable... so i wouldn't hold my breath.

Fenderr

jr. member

Activity: 293

Merit: 4

During hard forks you just stay calm and try not to send your coins out of your wallet until it's okay to do so. Follow closely ANN channels and various communities to stay abreast with updates. Personally have my coins in an exchange as I mostly trade with it.

cissrawk

sr. member

Activity: 1218

Merit: 410

Don't do anything and wait until fork done, when fork, they can't let you send your coins to another address for some hours or day, you just need to keep it in your wallet.
If you too scared, just exchange your coin to another coin.

bartolo

hero member

Activity: 1176

Merit: 501

Quote from: spaso_87 on September 27, 2018, 04:08:45 AM

but are the tips or how the attitude of what is to be done in the face of this? Please share your experiences in addressing how hard the fork!

The only thing you will need to do is be aware of the announcements in the official channels since during a period of time it will not be advisable to send or receive any transaction. You will have to wait until the developers announce that the network can be safely used.

spaso_87

jr. member

Activity: 224

Merit: 1

I read the news from some of the following articles:

https://medium.com/futuresin/ethereums-constantinople-hard-fork-to-go-live-in-october-8d9ce7d8a0b8
https://www.coindesk.com/ethereum-is-testing-code-for-its-next-hard-fork/
https://cointelegraph.com/news/ethereum-core-devs-debate-constantinople-hard-fork-and-difficulty-bomb-during-meeting

do fork will happen to ethereum will actually happen? If Yes this certainly would be good news for crypto.
but are the tips or how the attitude of what is to be done in the face of this? Please share your experiences in addressing how hard the fork!

Topic: When hard fork arrived, what should I be prepared? (Read 152 times)