Topic: Will we be warned before a hard fork? (Read 1632 times)
Thats a really hard question my friend, im curious about that to . But if a fork hits we will definitely not be warned about that cuz why would they warned us ? Actually i think that bitcoin will start to go up and not down so i think a fork its not gonna hit bitcoin that hard .
Hi,
Probably a stupid question, but since the price of BTC will obviously go down rapidly if a hard fork happes.
Will we get some kind of an annoucement/warning hours/days before they start the fork or will this happen from one second to the next?
There is not going to be an alarm, but if you keep up with the news and developments on bitcoin and take the time to inform yourself directly and to not believe second hand information, then you will likely find out before it happens. Probably a stupid question, but since the price of BTC will obviously go down rapidly if a hard fork happes.
Will we get some kind of an annoucement/warning hours/days before they start the fork or will this happen from one second to the next?
No. 
You will see it on your btc price ticker when it does.
It will nose dive hard!
Then you will know when it has happened.
Just like when the halving happened last year July. But something will actually happen this time around.
And also have your hard hat on or tin foil cap. Whatever you have on hand.
You will see it on your btc price ticker when it does.
It will nose dive hard!
Then you will know when it has happened.
Just like when the halving happened last year July. But something will actually happen this time around.
And also have your hard hat on or tin foil cap. Whatever you have on hand.
Yes,i got warning from twitter.
Civic CEO Vinny Lingham shared the following advice to all Bitcoin users:
I recommend to people in Bitcoin to have two pots. One is your long term BTC holdings, cold storage. Never sell those. Trade the other pot.
Prepare for hard fork:
Although it’s hard to tell exactly which Bitcoin services will support Core, BU or both, users can expect their coins to be available on both chains.
Keeping your bits on your own personal wallet, in which you control the private keys, is advised, as this would ensure that your coins are credited on both blockchains.
One could then access the BU coins via the Bitcoin Unlimited client and the original chain’s coins via any wallet that supports Bitcoin Core. Keeping coins on an exchange is not recommended.
“Coins on an exchange are not yours. That’s true regardless of any possibility of a fork,” Antonopoulos notes.
However, if you do store your coins on an exchange, the most likely event would be the exchange will credit your coins on both chains, though it’s a decision that will be left entirely up to the exchange operators.
To play it safe, keeping your bits on your wallet and keeping your funds in cold storage/offline is highly recommended.
Civic CEO Vinny Lingham shared the following advice to all Bitcoin users:
I recommend to people in Bitcoin to have two pots. One is your long term BTC holdings, cold storage. Never sell those. Trade the other pot.
Prepare for hard fork:
Although it’s hard to tell exactly which Bitcoin services will support Core, BU or both, users can expect their coins to be available on both chains.
Keeping your bits on your own personal wallet, in which you control the private keys, is advised, as this would ensure that your coins are credited on both blockchains.
One could then access the BU coins via the Bitcoin Unlimited client and the original chain’s coins via any wallet that supports Bitcoin Core. Keeping coins on an exchange is not recommended.
“Coins on an exchange are not yours. That’s true regardless of any possibility of a fork,” Antonopoulos notes.
However, if you do store your coins on an exchange, the most likely event would be the exchange will credit your coins on both chains, though it’s a decision that will be left entirely up to the exchange operators.
To play it safe, keeping your bits on your wallet and keeping your funds in cold storage/offline is highly recommended.
Guess what, Peeps?
We've been warned.
I got emails today from both CoinBase and Circle exchanges!
They both claim the fork is "in the near future" and withdrawals will then be suspended temporarily.
I'm moving my coins tonight.
edit: Here's the letter:
We've been warned.
I got emails today from both CoinBase and Circle exchanges!
They both claim the fork is "in the near future" and withdrawals will then be suspended temporarily.
I'm moving my coins tonight.
edit: Here's the letter:
Quote
Update for Customers With Bitcoin Stored on Coinbase
We wanted to provide customers notice of how a possible hard fork of the Bitcoin protocol into Bitcoin Core and Bitcoin Unlimited will affect Coinbase accounts.
The only version of Bitcoin supported on the Coinbase platform today is Bitcoin Core, currently represented by the symbol BTC.
We may provide support for Bitcoin Unlimited in the future depending on market conditions and stability of the protocol, but we cannot guarantee whether or when such support may be available. Customers who wish to access both blockchains at the time of the hard fork should withdraw their BTC from Coinbase since we cannot guarantee what will happen during the hard fork or when this access may be available.
If one chain receives an overwhelming majority of support from miners, users, and exchanges, we reserve the right to alter the names of chains or discontinue support for certain chains in the future.
Ensuring the safety of customer funds is our top priority. In the event of a hard fork of the Bitcoin protocol, it is likely that Coinbase will temporarily suspend the deposit and withdrawal of bitcoin from the platform pending our assessment of the technical risks posed by any fork, such as the possibility of replay attacks, network instability, or other factors. Customers should take note that they will not be able to withdraw bitcoin from or deposit bitcoin to Coinbase for a period of up to 24 hours or more following the fork. In the event of a hard fork of the Bitcoin protocol, Coinbase may suspend the ability to buy or sell on our platform during this time.
Coinbase looks forward to working with other exchanges and development teams to ensure the smooth execution of future hard forks with as little disruption as possible. Customers should continue to monitor our support pages and Twitter account for updates regarding our support for digital currencies on the platform.
We wanted to provide customers notice of how a possible hard fork of the Bitcoin protocol into Bitcoin Core and Bitcoin Unlimited will affect Coinbase accounts.
The only version of Bitcoin supported on the Coinbase platform today is Bitcoin Core, currently represented by the symbol BTC.
We may provide support for Bitcoin Unlimited in the future depending on market conditions and stability of the protocol, but we cannot guarantee whether or when such support may be available. Customers who wish to access both blockchains at the time of the hard fork should withdraw their BTC from Coinbase since we cannot guarantee what will happen during the hard fork or when this access may be available.
If one chain receives an overwhelming majority of support from miners, users, and exchanges, we reserve the right to alter the names of chains or discontinue support for certain chains in the future.
Ensuring the safety of customer funds is our top priority. In the event of a hard fork of the Bitcoin protocol, it is likely that Coinbase will temporarily suspend the deposit and withdrawal of bitcoin from the platform pending our assessment of the technical risks posed by any fork, such as the possibility of replay attacks, network instability, or other factors. Customers should take note that they will not be able to withdraw bitcoin from or deposit bitcoin to Coinbase for a period of up to 24 hours or more following the fork. In the event of a hard fork of the Bitcoin protocol, Coinbase may suspend the ability to buy or sell on our platform during this time.
Coinbase looks forward to working with other exchanges and development teams to ensure the smooth execution of future hard forks with as little disruption as possible. Customers should continue to monitor our support pages and Twitter account for updates regarding our support for digital currencies on the platform.
Yes, if you plan on holding coins through the fork, best to have them secured yourself.
Hi,
Probably a stupid question, but since the price of BTC will obviously go down rapidly if a hard fork happes.
Will we get some kind of an annoucement/warning hours/days before they start the fork or will this happen from one second to the next?
Probably a stupid question, but since the price of BTC will obviously go down rapidly if a hard fork happes.
Will we get some kind of an annoucement/warning hours/days before they start the fork or will this happen from one second to the next?
When you see the price drop 200$ in 30 seconds, thats when you know.
From Circle Exchange, marked, "Urgent"
Quote
Based on recent developments in the Bitcoin ecosystem, it now seems likely that one or more forks of Bitcoin may occur in the near future. Any fork of Bitcoin may have a significant impact on the value of bitcoin and your ability to access the bitcoin you hold with Circle.
Guess what, Peeps?
We've been warned.
I got emails today from both CoinBase and Circle exchanges!
They both claim the fork is "in the near future" and withdrawals will then be suspended temporarily.
I'm moving my coins tonight.
edit: Here's the letter:
We've been warned.
I got emails today from both CoinBase and Circle exchanges!
They both claim the fork is "in the near future" and withdrawals will then be suspended temporarily.
I'm moving my coins tonight.
edit: Here's the letter:
Quote
Update for Customers With Bitcoin Stored on Coinbase
We wanted to provide customers notice of how a possible hard fork of the Bitcoin protocol into Bitcoin Core and Bitcoin Unlimited will affect Coinbase accounts.
The only version of Bitcoin supported on the Coinbase platform today is Bitcoin Core, currently represented by the symbol BTC.
We may provide support for Bitcoin Unlimited in the future depending on market conditions and stability of the protocol, but we cannot guarantee whether or when such support may be available. Customers who wish to access both blockchains at the time of the hard fork should withdraw their BTC from Coinbase since we cannot guarantee what will happen during the hard fork or when this access may be available.
If one chain receives an overwhelming majority of support from miners, users, and exchanges, we reserve the right to alter the names of chains or discontinue support for certain chains in the future.
Ensuring the safety of customer funds is our top priority. In the event of a hard fork of the Bitcoin protocol, it is likely that Coinbase will temporarily suspend the deposit and withdrawal of bitcoin from the platform pending our assessment of the technical risks posed by any fork, such as the possibility of replay attacks, network instability, or other factors. Customers should take note that they will not be able to withdraw bitcoin from or deposit bitcoin to Coinbase for a period of up to 24 hours or more following the fork. In the event of a hard fork of the Bitcoin protocol, Coinbase may suspend the ability to buy or sell on our platform during this time.
Coinbase looks forward to working with other exchanges and development teams to ensure the smooth execution of future hard forks with as little disruption as possible. Customers should continue to monitor our support pages and Twitter account for updates regarding our support for digital currencies on the platform.
We wanted to provide customers notice of how a possible hard fork of the Bitcoin protocol into Bitcoin Core and Bitcoin Unlimited will affect Coinbase accounts.
The only version of Bitcoin supported on the Coinbase platform today is Bitcoin Core, currently represented by the symbol BTC.
We may provide support for Bitcoin Unlimited in the future depending on market conditions and stability of the protocol, but we cannot guarantee whether or when such support may be available. Customers who wish to access both blockchains at the time of the hard fork should withdraw their BTC from Coinbase since we cannot guarantee what will happen during the hard fork or when this access may be available.
If one chain receives an overwhelming majority of support from miners, users, and exchanges, we reserve the right to alter the names of chains or discontinue support for certain chains in the future.
Ensuring the safety of customer funds is our top priority. In the event of a hard fork of the Bitcoin protocol, it is likely that Coinbase will temporarily suspend the deposit and withdrawal of bitcoin from the platform pending our assessment of the technical risks posed by any fork, such as the possibility of replay attacks, network instability, or other factors. Customers should take note that they will not be able to withdraw bitcoin from or deposit bitcoin to Coinbase for a period of up to 24 hours or more following the fork. In the event of a hard fork of the Bitcoin protocol, Coinbase may suspend the ability to buy or sell on our platform during this time.
Coinbase looks forward to working with other exchanges and development teams to ensure the smooth execution of future hard forks with as little disruption as possible. Customers should continue to monitor our support pages and Twitter account for updates regarding our support for digital currencies on the platform.
Hi,
Probably a stupid question, but since the price of BTC will obviously go down rapidly if a hard fork happes.
Will we get some kind of an annoucement/warning hours/days before they start the fork or will this happen from one second to the next?
Probably a stupid question, but since the price of BTC will obviously go down rapidly if a hard fork happes.
Will we get some kind of an annoucement/warning hours/days before they start the fork or will this happen from one second to the next?
This was true and serious concern what many people like you and me had and have about the upcoming events and information. What I have understood from little bit discussion from this thread is good than anything based on guesses. I really appreciate all the shared information here.
Hi,
Probably a stupid question, but since the price of BTC will obviously go down rapidly if a hard fork happes.
Will we get some kind of an annoucement/warning hours/days before they start the fork or will this happen from one second to the next?
Probably a stupid question, but since the price of BTC will obviously go down rapidly if a hard fork happes.
Will we get some kind of an annoucement/warning hours/days before they start the fork or will this happen from one second to the next?
This was true and serious concern what many people like you and me had and have about the upcoming events and information. What I have understood from little bit discussion from this thread is good than anything based on guesses. I really appreciate all the shared information here.
Your warning is at 50% hash power. Anytime after that, shenanigans may ensue.
This is true with Bitcoin Unlimited, as its supporters don't care about proper consensus rules and could try to take over bitcoin with just 51% hashing power.AFAIK SegWit still requires an overwhelming 95% majority to be activated - and I don't see that happening, ever.
Guys this is quite interesting what i was thinking about. Look i guess(not relevant for this matter to be exact) BU includes 30% of the community. If Bitcoin forks and BU will be a altcoin those 30% are LIKELY to put their stash in BU right? This means that BTC price will crash with 30% when this happens (fork). This will be a favor for Ethereum, thats why vitalik buterin says a fork is good thing for btc because Buterin makes money out of it and Eth will be almost as big as Bitcoin when a fork occurs.
ETH is not a currency but rather a token to give value to the platform which applications are running on it, however if bitcoin forks it will be exactly like ETH being Core and ETC being BU, even if Core wants to hard fork bitcoin if they don't do it with 95% total consensus you should consider them as a hostile party and drop the support.The majority of miners(mining power) is not an idiot to hard fork bitcoin without an urgent need they know the risks and that's why they are testing the waters and we're right now been warned already.
Guys this is quite interesting what i was thinking about. Look i guess(not relevant for this matter to be exact) BU includes 30% of the community. If Bitcoin forks and BU will be a altcoin those 30% are LIKELY to put their stash in BU right? This means that BTC price will crash with 30% when this happens (fork). This will be a favor for Ethereum, thats why vitalik buterin says a fork is good thing for btc because Buterin makes money out of it and Eth will be almost as big as Bitcoin when a fork occurs.
Bitcoin Unlimited is a flawed concept. The project will explode within itself in no time if it gets activated. I hope the market reacts accordingly and dumps their BTU for BTC.
Sooner or later Core will get proven the winning team, regardless what the mining mafia has to say about it.
Sooner or later Core will get proven the winning team, regardless what the mining mafia has to say about it.
how does the hard fork affect bitcoin? will this kind of act making someone able to control bitcoin or something thus bitcoin price falls? anyway, you should be aware of random announcement which affects your willingness to use bitcoin, though i am in the dark of hard fork so far.
Hi,
Probably a stupid question, but since the price of BTC will obviously go down rapidly if a hard fork happes.
Will we get some kind of an annoucement/warning hours/days before they start the fork or will this happen from one second to the next?
Probably a stupid question, but since the price of BTC will obviously go down rapidly if a hard fork happes.
Will we get some kind of an annoucement/warning hours/days before they start the fork or will this happen from one second to the next?
Well first of all i don't necessarily agree with your statement. The price of bitcoin will go down rapidly if a hard fork happens, however that is only Bitcoin Core and Bitcoin Unlimited individually. Them added together will probably be the same price as before.
This is what happened with Z Classic, and ZCash, as well as Ethereum and ETC.
As to the warning, we've already got one.
No one really knows when it's going to happen, but if it's going to happen it's probably going to happen this year.
Once the hash power of Bitcoin Unlimited goes over anything over 50%, you have your warning.
What is the critical support level at the moment ?
https://coin.dance/blocks
Last 144 blocks is at 41,7% but yesterday it was <38% I think and the day before also >40%. So it´s fluctuating a lot.
Last 1000 blocks is still at 35,8%
You can't miss it if you're actively reading news about bitcoin in this forum or reddit or any other bitcoin related news service, even twitter. People will be screaming in pain(or joy) when the time is near. Just stay alert when BU reaches critical support levels.
I hope everybody's gonna have enough time to prepare.
What is the critical support level at the moment ?
I hope everybody's gonna have enough time to prepare.
What is the critical support level at the moment ?
What is the critical support level at the moment ?
Hi,
Probably a stupid question, but since the price of BTC will obviously go down rapidly if a hard fork happes.
Will we get some kind of an annoucement/warning hours/days before they start the fork or will this happen from one second to the next?
Probably a stupid question, but since the price of BTC will obviously go down rapidly if a hard fork happes.
Will we get some kind of an annoucement/warning hours/days before they start the fork or will this happen from one second to the next?
Your warning is at 50% hash power. Anytime after that, shenanigans may ensue.
You can't miss it if you're actively reading news about bitcoin in this forum or reddit or any other bitcoin related news service, even twitter. People will be screaming in pain(or joy) when the time is near. Just stay alert when BU reaches critical support levels.
I hope everybody's gonna have enough time to prepare.
I hope everybody's gonna have enough time to prepare.
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