Bitcoin Forum

Bitcoin => Bitcoin Discussion => Topic started by: BitWhale on July 22, 2017, 05:07:18 PM



Title: What steps do I need to take come Aug 1st to ensure the safety of my coins?
Post by: BitWhale on July 22, 2017, 05:07:18 PM
I am mostly worried about the Ledger wallet. What will I need to do in the case of a chain split in order to protect my coins? How do I split my coins?

Thank you


Title: Re: What steps do I need to take come Aug 1st to ensure the safety of my coins?
Post by: achow101 on July 22, 2017, 05:16:06 PM
Since you have a hardware wallet, you are fine. You control the private keys. You can use your ledger with a desktop wallet software like Electrum in order to make sure that you are using the chain that you want to use. Splitting your coins is harder to do, but you can do it with Electrum. There are instructions for splitting your coins with Electrum here (albeit for BU, not a BIP 91 or BIP 148 split, but instructions still apply): http://docs.electrum.org/en/latest/hardfork.html?highlight=chain%20split


Title: Re: What steps do I need to take come Aug 1st to ensure the safety of my coins?
Post by: Yakamoto on July 22, 2017, 05:19:03 PM
I am mostly worried about the Ledger wallet. What will I need to do in the case of a chain split in order to protect my coins? How do I split my coins?

Thank you
https://bitcointalk.org/index.php?topic=2017191.0

TL:DR have your private keys somewhere and if you have your private keys then you have absolutely nothing to worry about. Your priv. keys are viable and useable on both chains, and the amount within them will not change. There will be "duplicates" of your coins, but if the coins exist on the blockchain that everyone left from then there's nothing of value in them and only what you have in the new chain will be recognized.

Overall most of your stuff is not in danger and you should be fine.


Title: Re: What steps do I need to take come Aug 1st to ensure the safety of my coins?
Post by: xbiv2 on July 22, 2017, 05:21:07 PM
Bitcoin protected by many people:
1. Miners (not only mining pools but miners itself, miner select pool with policy he accept)
2. Exchangers (at now main giver of price to Bitcoin)
3. Mining pools.
No one of this people want bad for bitcoin.
Do not trust to bitcoin-core developers and use bitcoin-core of 2014 https://github.com/bitcoin/bitcoin/releases/tag/v0.9.1
And wait until everything will clears up.
-----
For more information - do read my signature.


Title: Re: What steps do I need to take come Aug 1st to ensure the safety of my coins?
Post by: achow101 on July 22, 2017, 05:22:30 PM
Use bitcoin-core of 2014 https://github.com/bitcoin/bitcoin/releases/tag/v0.9.1
No. Do not do that. Please stop spamming that nonsense. Bitcoin Core 0.9.1 will likely not be able to sync with the network anyways. It has known performance and security issues. Furthermore, you will not be fully validating all active network rules.


Title: Re: What steps do I need to take come Aug 1st to ensure the safety of my coins?
Post by: xbiv2 on July 22, 2017, 05:28:47 PM
Use bitcoin-core of 2014 https://github.com/bitcoin/bitcoin/releases/tag/v0.9.1
No. Do not do that. Please stop spamming that nonsense. Bitcoin Core 0.9.1 will likely not be able to sync with the network anyways. It has known performance and security issues. Furthermore, you will not be fully validating all active network rules.
Lie. It best version and working perfect. And the only way to save your coins from "soft fork" attempts.
-----
For more information - do read my signature.


Title: Re: What steps do I need to take come Aug 1st to ensure the safety of my coins?
Post by: BitWhale on July 24, 2017, 07:48:26 PM
Thanks everyone for your replies, I really appreciate it! I feel a bit more at ease now with the whole situation.


Title: Re: What steps do I need to take come Aug 1st to ensure the safety of my coins?
Post by: NorrisK on July 24, 2017, 08:41:11 PM
Simply don't make transactions the day before the activation and wait untill the all clear is given after the activation.

Coins that are sitting in your own wallets are completely safe.


Title: Re: What steps do I need to take come Aug 1st to ensure the safety of my coins?
Post by: Edrian on July 24, 2017, 08:42:00 PM
I don't think your bitcoin will be unsafe if you leave it on any wallet. it will not disappear that easily. But for your safe thoughts you should transfer it to a hard wallet much like everyone is saying here.


Title: Re: What steps do I need to take come Aug 1st to ensure the safety of my coins?
Post by: dejavvu on July 24, 2017, 09:04:56 PM
Keep everything in your hard wallet and don't make any transactions that day. Everything seems stable so far but I believe there will be some chaos(delays...) that day and possibly some hacking attacks too. So it is best to stay on the sidelines for a while.


Title: Re: What steps do I need to take come Aug 1st to ensure the safety of my coins?
Post by: JNiks_ZLisa on July 24, 2017, 09:07:16 PM
This:
Bitcoin protected by many people:
1. Miners (not only mining pools but miners itself, miner select pool with policy he accept)
2. Exchangers (at now main giver of price to Bitcoin)
3. Mining pools.
No one of this people want bad for bitcoin.
Do not trust to bitcoin-core developers and use bitcoin-core of 2014 https://github.com/bitcoin/bitcoin/releases/tag/v0.9.1
And wait until everything will clears up.
-----
For more information - do read my signature.