Topic: Where should I store my bitcoin for the new few weeks? (Read 630 times)
Blockchain.info currently charges very high transaction fees, I recommend keeping bitcoin on the trading platform poloniex.com or bittrex.com, the cost of translation is very low. I am currently using them very effectively
The best advice will be to move your coins to cold storage, but you still have some time. The golden rule will be to have control over your own
private keys over this period. The service where you stored your coins might not necessarily support the same chain that you do and if they are
wrong with their choice, you might have to go down with them, because you do not have the private keys to your own coins.
private keys over this period. The service where you stored your coins might not necessarily support the same chain that you do and if they are
wrong with their choice, you might have to go down with them, because you do not have the private keys to your own coins.
I hold some in bitpanda.com and some in blockchain.info
During this whole fork situation - where should I keep my bitcoins? Should I download the bitcoin core wallet to my computer and move the coins there?
Should I just leave them in their online wallets?
If I move them to a local computer wallet, what do I need to do when bitcoin forks? Do I need to do something to get the same amount of coins in the new chain? (Download a core wallet for the new one so I have bitcoins in both the original and the forked?) (if so how??)
Thankyou all - I don't really care about which chain is the successor etc I just care about being on THE chain and not being left with coins in the wrong place
Thoughts appreciated
Thankyou
August 1 May result in abnormal data due to split endsDuring this whole fork situation - where should I keep my bitcoins? Should I download the bitcoin core wallet to my computer and move the coins there?
Should I just leave them in their online wallets?
If I move them to a local computer wallet, what do I need to do when bitcoin forks? Do I need to do something to get the same amount of coins in the new chain? (Download a core wallet for the new one so I have bitcoins in both the original and the forked?) (if so how??)
Thankyou all - I don't really care about which chain is the successor etc I just care about being on THE chain and not being left with coins in the wrong place
Thoughts appreciated
Thankyou
I think you should back it up to your local wallet, which is the simplest and safest way
I don't believe in the division so I will not move my bitcoins from my e-wallet. It seems to me that the idea of moving to support those who want to make a transaction. I heard that after August 1 the price of transactions should decrease.
Please don't stick with the online wallet. Your amount may not safe in upcoming fork. We expect it soft fork and there is no big changes in the chart. They gonna increase the size of block and network to stop the transaction. Don't any of your fund in blockchain.info especially.
I would definitely stay away from online wallets. All you need are your keys and control of them if anything happens. You don't have those in blockchain.info.
Depending on how much BTC you have consider a Ledger Nano S! They are awesome
no leave them locally, that is everything you need to do, if you prefer cold storage then do so, just don't move your funds around the chain split date
big exchange say anyway that they will not upgrade their client until all this is sorted out, so it should be safe, but you can never know for sure
leaving your bitcoin locally would not be save enough it may make you suffer from a lose so I think keeping your bitcoins in a hardware wallet would be more safer and easier that spending your bitcoins or leaving them free in your account without any bitcoin wallet I would suggest you the block chain and the paper wallet to keep your bitcoins safe. big exchange say anyway that they will not upgrade their client until all this is sorted out, so it should be safe, but you can never know for sure
i prefer save it in desktop wallet.
save all you infos with backup key, and backup the wallet.
save all you infos with backup key, and backup the wallet.
I don't believe in the division so I will not move my bitcoins from my e-wallet. It seems to me that the idea of moving to support those who want to make a transaction. I heard that after August 1 the price of transactions should decrease.
If you worry to much as to where will you hold your bitcoins then store it in wallets with private keys. But for me I will do the most simplest thing to do before August 1. I will exchange my bitcoin to other altcoins or exchange it to dollars which is more safer than keeping it on wallets having no bitcoin is more safer than having bitcoin at all. After the problems are settled then I will just buy some bitcoins using my dollars.
That is not the smartest thing to do.You are looking for a major loss if everything succeeds and bitcoin prices peek up again,also that means your altcoins value going down.If that happens,1.You lose your value in altcoins and bitcoins.
2.You have to shell a lot more money out of your pockets to buy bitcoin again.
Just move your coins to a desktop wallet like electrum for the time being.
no leave them locally, that is everything you need to do, if you prefer cold storage then do so, just don't move your funds around the chain split date
big exchange say anyway that they will not upgrade their client until all this is sorted out, so it should be safe, but you can never know for sure
big exchange say anyway that they will not upgrade their client until all this is sorted out, so it should be safe, but you can never know for sure
I hold some in bitpanda.com and some in blockchain.info
During this whole fork situation - where should I keep my bitcoins? Should I download the bitcoin core wallet to my computer and move the coins there?
Should I just leave them in their online wallets?
If I move them to a local computer wallet, what do I need to do when bitcoin forks? Do I need to do something to get the same amount of coins in the new chain? (Download a core wallet for the new one so I have bitcoins in both the original and the forked?) (if so how??)
Thankyou all - I don't really care about which chain is the successor etc I just care about being on THE chain and not being left with coins in the wrong place
Thoughts appreciated
Thankyou
I think you should not keep Bitcoin in the online web wallet because you may be at risk. After the fork, Bitcoin will probably split into two blockchain strings and they most likely will only support one of them. You should download a desktop wallet, transfer your Bitcoin into it, back up your wallet data, keep the private key, public key in a safe place and only you know. If you have more Bitcoins, you should store them in a hard wallet like Trezor or Ledger USB, it's safer During this whole fork situation - where should I keep my bitcoins? Should I download the bitcoin core wallet to my computer and move the coins there?
Should I just leave them in their online wallets?
If I move them to a local computer wallet, what do I need to do when bitcoin forks? Do I need to do something to get the same amount of coins in the new chain? (Download a core wallet for the new one so I have bitcoins in both the original and the forked?) (if so how??)
Thankyou all - I don't really care about which chain is the successor etc I just care about being on THE chain and not being left with coins in the wrong place
Thoughts appreciated
Thankyou
I keep my bitcoins in online wallet. Even if the division they are not going anywhere. I think that people too much emphasis on 1 August. Even with separation can cause problems with transactions but no coins in storage.
Even if your online wallet isn't going anywhere, there's a possibility two sustainable coins will emerge after the fork, and there's a real possibility your online wallet might only support one of them.
In other words: you'll lose all unspent outputs on the unsupported chain...
I keep my bitcoins in online wallet. Even if the division they are not going anywhere. I think that people too much emphasis on 1 August. Even with separation can cause problems with transactions but no coins in storage.
I would store them in paper wallets. The best hacker in the world wouldn't be able to get your money since there is no electronic fingerprint for them to follow. If you download something from the internet there is no guarantee that you aren't also downloading a keylogger that monitors everything you do on your computer.
Call me paranoid if you want, but better that than careless.
Also make sure to keep the paper wallets in a safe place. You don't want some family member thinking it is some random numbers and letters on a sheet of paper and then throwing it away.
That would be awful!
Call me paranoid if you want, but better that than careless.
Also make sure to keep the paper wallets in a safe place. You don't want some family member thinking it is some random numbers and letters on a sheet of paper and then throwing it away.
That would be awful!
Precautions have been outlined in this thread by theymos.
As long as your BTC are stored in a wallet whose private keys you exclusively control, you'll be safe.
Quote
1. Ensure that you have no BTC deposited with a Bitcoin bank or other trusted third-party before Aug 1. If there's no technical way for you to export the private keys for your BTC, then that BTC is at risk. Some Bitcoin banks may assure you that they'll definitely keep your BTC safe, but I absolutely wouldn't trust them.
2. Do not send transactions or trust received transactions starting 12 hours before Aug 1 at midnight UTC, and continue this until you hear the "all clear" from several trustworthy sources. For example, I will post a forum news item if everything is OK, or if everything is not OK and action is required.
2. Do not send transactions or trust received transactions starting 12 hours before Aug 1 at midnight UTC, and continue this until you hear the "all clear" from several trustworthy sources. For example, I will post a forum news item if everything is OK, or if everything is not OK and action is required.
As long as your BTC are stored in a wallet whose private keys you exclusively control, you'll be safe.
Alright. One of these threads again.
Just go with whatever bitcoin wallet whereas you have access to your private keys. That is all. Electrum, Mycelium, copay. Those are only some, it only depends on what your device is and your personal preference.
Just go with whatever bitcoin wallet whereas you have access to your private keys. That is all. Electrum, Mycelium, copay. Those are only some, it only depends on what your device is and your personal preference.
I hold some in bitpanda.com and some in blockchain.info
During this whole fork situation - where should I keep my bitcoins? Should I download the bitcoin core wallet to my computer and move the coins there?
Should I just leave them in their online wallets?
If I move them to a local computer wallet, what do I need to do when bitcoin forks? Do I need to do something to get the same amount of coins in the new chain? (Download a core wallet for the new one so I have bitcoins in both the original and the forked?) (if so how??)
Thankyou all - I don't really care about which chain is the successor etc I just care about being on THE chain and not being left with coins in the wrong place
Thoughts appreciated
Thankyou
During this whole fork situation - where should I keep my bitcoins? Should I download the bitcoin core wallet to my computer and move the coins there?
Should I just leave them in their online wallets?
If I move them to a local computer wallet, what do I need to do when bitcoin forks? Do I need to do something to get the same amount of coins in the new chain? (Download a core wallet for the new one so I have bitcoins in both the original and the forked?) (if so how??)
Thankyou all - I don't really care about which chain is the successor etc I just care about being on THE chain and not being left with coins in the wrong place
Thoughts appreciated
Thankyou
If you worry to much as to where will you hold your bitcoins then store it in wallets with private keys. But for me I will do the most simplest thing to do before August 1. I will exchange my bitcoin to other altcoins or exchange it to dollars which is more safer than keeping it on wallets having no bitcoin is more safer than having bitcoin at all. After the problems are settled then I will just buy some bitcoins using my dollars.
I'm not really into altcoin exchanges and market predictions, but isn't there a risk you'll have to sell your BTC when the price is low, and re-buy the BTC when the price is high? (in other words, isn't there a big risk you'll start with x BTC and end with x-y BTC?)
I hold some in bitpanda.com and some in blockchain.info
During this whole fork situation - where should I keep my bitcoins? Should I download the bitcoin core wallet to my computer and move the coins there?
Should I just leave them in their online wallets?
If I move them to a local computer wallet, what do I need to do when bitcoin forks? Do I need to do something to get the same amount of coins in the new chain? (Download a core wallet for the new one so I have bitcoins in both the original and the forked?) (if so how??)
Thankyou all - I don't really care about which chain is the successor etc I just care about being on THE chain and not being left with coins in the wrong place
Thoughts appreciated
Thankyou
During this whole fork situation - where should I keep my bitcoins? Should I download the bitcoin core wallet to my computer and move the coins there?
Should I just leave them in their online wallets?
If I move them to a local computer wallet, what do I need to do when bitcoin forks? Do I need to do something to get the same amount of coins in the new chain? (Download a core wallet for the new one so I have bitcoins in both the original and the forked?) (if so how??)
Thankyou all - I don't really care about which chain is the successor etc I just care about being on THE chain and not being left with coins in the wrong place
Thoughts appreciated
Thankyou
If you worry to much as to where will you hold your bitcoins then store it in wallets with private keys. But for me I will do the most simplest thing to do before August 1. I will exchange my bitcoin to other altcoins or exchange it to dollars which is more safer than keeping it on wallets having no bitcoin is more safer than having bitcoin at all. After the problems are settled then I will just buy some bitcoins using my dollars.
I hold some in bitpanda.com and some in blockchain.info
During this whole fork situation - where should I keep my bitcoins? Should I download the bitcoin core wallet to my computer and move the coins there?
Should I just leave them in their online wallets?
If I move them to a local computer wallet, what do I need to do when bitcoin forks? Do I need to do something to get the same amount of coins in the new chain? (Download a core wallet for the new one so I have bitcoins in both the original and the forked?) (if so how??)
Thankyou all - I don't really care about which chain is the successor etc I just care about being on THE chain and not being left with coins in the wrong place
Thoughts appreciated
Thankyou
During this whole fork situation - where should I keep my bitcoins? Should I download the bitcoin core wallet to my computer and move the coins there?
Should I just leave them in their online wallets?
If I move them to a local computer wallet, what do I need to do when bitcoin forks? Do I need to do something to get the same amount of coins in the new chain? (Download a core wallet for the new one so I have bitcoins in both the original and the forked?) (if so how??)
Thankyou all - I don't really care about which chain is the successor etc I just care about being on THE chain and not being left with coins in the wrong place
Thoughts appreciated
Thankyou
I have always advised anyone to stay away from online wallets and exchanges. This is especially true pre-fork.
Bitcoin core is indeed a good desktop wallet, it will have to download and verify the full blockchain tough (this takes time + diskspace). If you want to skip this requirement, an SPV wallet like electrum will do to.
As long as you withdrew all your BTC to a local wallet that allows you to export your private keys (and/or promises to support both chains) before the fork happens, you'll have unspent outputs on both chains. If your desktop wallet doesn't start supporting both chains after the fork, you can export the private keys and import them into a wallet that supports the alternative chain. You do need to watch out for a replay attack tough (transactions on one chain can potentially be replayed on the alternative chain)
I hold some in bitpanda.com and some in blockchain.info
During this whole fork situation - where should I keep my bitcoins? Should I download the bitcoin core wallet to my computer and move the coins there?
Should I just leave them in their online wallets?
If I move them to a local computer wallet, what do I need to do when bitcoin forks? Do I need to do something to get the same amount of coins in the new chain? (Download a core wallet for the new one so I have bitcoins in both the original and the forked?) (if so how??)
Thankyou all - I don't really care about which chain is the successor etc I just care about being on THE chain and not being left with coins in the wrong place
Thoughts appreciated
Thankyou
During this whole fork situation - where should I keep my bitcoins? Should I download the bitcoin core wallet to my computer and move the coins there?
Should I just leave them in their online wallets?
If I move them to a local computer wallet, what do I need to do when bitcoin forks? Do I need to do something to get the same amount of coins in the new chain? (Download a core wallet for the new one so I have bitcoins in both the original and the forked?) (if so how??)
Thankyou all - I don't really care about which chain is the successor etc I just care about being on THE chain and not being left with coins in the wrong place
Thoughts appreciated
Thankyou
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