Bitcoin Forum

Hi All,

I mostly use my hardware wallet to save most of my bitcoins where I have access to my private key.

However, I also keep a good amount of bitcoin in my online BlockChain wallet for quick trading transfers.

my question is, do I need to worry about my bitcoins I hold in my online wallet? Will it be safe? What can be the consequence of of August 1st network split on my bitcoins?

Can anyone please give me an answer?

 I really don't know for sure bro. But I kept on hearing stories about the bittrex that they will give bcc or bitcoin cash to bitcoin hodlers. The ratio of it is 1 is to 1. 1:1. If you have 1 bitcoin then you will receive 1 BCC FOR fREe. Well for me I think that btc are not safe in other online wallets specially when you dont have the priv key.

I'd switch to something like Electrum personally but your funds should be fine. Blockchain.info definitely have their technical issues from time to time but since you control your private keys, you should be fine. You can use BCC by importing the PK to a wallet that supports BitcoinCash.
If the hardware wallet you are using is Trezor then I suggest sending everything there, they will be supporting BCC and you will have control without the struggle of exporting and importing etc.

You should move whatever you have in online wallets like blockchain.info to your hardware or paper wallet because you may not get BCC or any other coin after network split for your bitcoin in those online wallets. Also web wallets are not safe and can be compromised.

I too heard this story. I have few questions in my mind. Now the Bitcoin price $2800 after splitting Bitcoin into 2 coins they will give the same amount of BCC as free this is ok. but what about the price of the leading Bitcoin it will drop, or it will remain same? If it drops means, then there is no use to wait. We can sell now only and convert it into fiat currency this is profitable am I right.

I don't know exactly about the security of you Bitcoins since as I have heard keeping your Bitcoins in an online wallets is never recommended. It's much better if you keep them in some offline wallet like electrum or mycelium. Since blockchain.info will have a lot of load after 1st august and also it has many bugs in that wallet.
So I would recommend you to switch to an offline wallets

Yep, you and everyone else is going to have to be worried if you're still holding on that date. If you want to continue to hold your bitcoins, I'd move to a wallet which you have full control of -- one of these options could be a paper wallet, or really any wallet in which you and only you have the private keys to it.

I know the exchange which I use, Coinbase, is not going to be supporting Bitcoin Cash in the least -- so if you want to access Bitcoin Cash, you'd have to steer clear of them. There is going to be disruptions in the price, problems with the network more than usual, and so on, but the only thing you're going to have to do if you want to avoid all of this is to sell it.

So, you do have a decision to make OP (Roll the dice here, or simply sit back)

Its should be need to move your funds into safety place since admin of this forum giving us already about warning that we can see above as news.
Because there are possibility our funds will gone so to be safe of our investment and bitcoin we should transfer our funds in the safety place or wallet..
The best for me right now is paper wallet or just i keep the private keys and the notes..
Or transfer it into electrum keeping our bitcoin in web wallet are also not safe and exchange site so better to move coins before august 1..

You should move your BTC from your online address eg to a large market like bittrex or viabtc that gives BCC. There you will get a free bcc as long as your BTC is stored there.

If you use blockchain info have control on your private key.I just read this https://github.com/OmniLayer/omniwallet/wiki/Exporting-Private-Key-from-Blockchain.info-and-Importing-to-Omniwallet.org
you can export your private key from blockchain.info and import.you just need some step to get your private from blockchain.info wallet.I already have my private key of my wallet.I am not sure its also possible can export your private key on classic.

It's ok for you to use that hardware wallet and I hope I could also buy that kind of wallet so that my bitcoin is less in risk and not prone to hack. However, we are not really sure that the predictions on August 1 will happen. The only thing that I suggest for you is that just keep all your bitcoin in your hardware wallet and just wait until August 1 pass over then if you think that nothing happened on the said date, continue to store your bitcoin in an online wallet but, I suggest that when you are going to place your bitcoin in an online wallet, just put a half of it because you are not totally sure that online wallet is safe.

I guess you know the answer to the question you asked because you asked only about the safety of the online wallet, not the hardware wallet. Meaning you suspect something could go wrong with your web wallet. As a Hero Member, you obviously have been here a long time and expectedly should be advising us. Anyway, let me tell you want I did: I moved my coins from an exchange to an Electrum wallet and then exchanged a few of my Bitcoin to  altcoins of interest instead of selling off in panic. Don't sell off. Get them exchanged for altcoins!

Even I don't know what will happen qwith my bitcoins. All my coins are in online exchange wallets. I got message from my exchange that my coins will be safe . But I am in a very confused state. I also saw thymos message to transfer coins from online wallet to some other wallet. Earlier I was using multibit wallet. But I lost some coins because it had some bugs. So i stopped using such wallets. Can somebody suggest me a good offline wallet? Thanks

Yes you and I will worry for our bitcoins that are in online wallets so why not just merge your funds there into your hardware wallet?

The only consequence that you will get if you will remain your bitcoins at online wallet, it's either you won't be getting BCC.

The best thing to do is to put them altogether in hardware wallet.

This makes a lot of sense. Thank you.

You may want to get either Mycelium, Armory or Electrum wallet. I read they are very reliable and secured.

Yes , ofcourse you need to worry . And even if you hold much amount of the bitcoin in your blockchain wallet then it would be more better for you to withdraw and out the wallet where your private key are safe , because I have not yet heard about the blockchain to get split support ( in this forum ) .
And in case of the exchange wallet , then I don't think that there is anything to take tension because most of the exchange already announced that they are ready for fork and any type of spliting .
So I think these types of the statement by the exchange are directly saying that we will give coins ( BCC or anything if happened) .
So just make yourself tension free for those bitcoin that you have in exchange and in private key accessible wallets .
But be careful for the blockchain direct wallet because I didn't found any information about it , since it is official but here it would be better for you to get BCC like coins for the future .

Even i had the same question few days before. Bitcoin will split after the hard fork. I too had some amount in my blockchain but i moved it to my hardware wallet for safety. Yet i dont actually know what should i do to my coins. And if we get 1 BCC for our 1 BTC then we will have a huge loss i guess coz the price for BCC is not as high as BTC.

If you are using a Trezor or Ledger Nano S move your bitcoin from Blockchain to your hardware wallet. Both those manufacturers have stated they will have a splitting tool so you can claim your BCC. But you need to move the bitcoin now before the hard fork. Keep up to date by browsing the Trezor and Ledger Wallet subs on reddit.

There is a risk in online wallets as we all know it, but if you have private keys of your wallet then it is quite acceptable. The problem is splitting on august 1 so it is better to transfer all your funds from online wallets to offline wallets.

For me! I just worried less because my wallet provider if guaranteed us that our bitcoin during that date is safe in the account, but they just disable there transaction during that date and for further announcement.

Blockchain.info you do hold your own private keys with, therefore I don't think that you need to worry much about it. Hardware wallet is one of the safest ways to keep your bitcoin, again you should be able to claim your bitcoin cash fairly easily if a fork happens. No need to worry. If you want to be extra safe then transfer your btc from blockchain.info to your hardware wallet as well but imo that's not really necessary especially if involving low amounts.

You should be good to go looking at what you have said above. If you have any funds on exchanges, just make sure that you have withdrawn them to your hardware wallet.

consequences? Well you'll just get two bitcoins of the same amount of what you've previously held. For example if you held 2 btc, then you get 2 btc and 2 bcc after fork.

Yes, I've heard this news from a few months ago. The news is a heated debate among its users, bitcoin users would have been familiar with the word 'hard fork', where hard fork events occur when the development team of a cryptocurrency agrees to apply a feature or a new change to the programming system of the coin.
Before all that happens you have to move all the bitcoins you have to the wallet that has the trusted side of extra security.

I think it is indeed, on August 1, all providers wallet will disable all the things there are in it and I am sure that all of it will not give any bad impact to the user's wallet. Because if indeed their cheating was already certain, they will lose out within 1 week. Because surely everyone will leave the wallet provider and switch to a safer place. So you don't need to worry, all funds will surely secure and sure you'll get the benefit of the hardfork
 

Firstly you must ensure that the wallet your bitcoins are in will support BCC or not and its take on the recent developments in BTC. What i can infer from my knowledge is that your BTCs will either be converted into BCCs or might get nullified if the exchange is planning to derecognise BTCs i.e. it has its alignment with BCC.

I totally agree with you. Right now the situation is pretty confusing and it will be little impossible to predict the final outcome. I heard many wallets have seized the accounts and arent allowing any BTCs transactions. Is it true?

I'd advice you to sell of all your bitcoins and keep that money in cash.

Well the doomsaday has arrived (just a few hours left). We'll finally get to know what course will BTc is meant to folow.

Absolutely right it is. But the question here is at what price will BCC launch?

When it comes to exchanges and online wallet services, obviously, your coins will be exposed to the same risks as when there isn't a chain split looming.

From there, your wallet service stating that your coins will be just fine has no value, because they at all times should be fine. It's like they make it seem they do extra effort to keep people's funds safe. :D

People should start storing their coins offline. If you're desperately looking for convenience, at least make sure you make use of mobile apps that allow you to remain in full control of your private keys.

Using online wallet services where you grant them access to your private keys is seriously a no go. There is a saying ~ if you aren't the sole owner of your private keys, you don't actually own anything.

The blockchain wallet, it's really useful, you can keep it for a long time, and you can be assured of the bitcoin value after August 1, so keeping bitcoin will be a definite thing. Bitcoin will increase and you will have a large income range.

I really don’t know mate but I kept on my bitcoin till august first because the price of the bitcoin is increasing and hope it will increase more and more after that I will keep my bitcoin in any of my wallet and will use it when the bitcoin will be world famous for us prices keep on changing and also today we can see a huge change till now from the start of the bitcoin.

We must have a special strategy, if we just hold our money on bitcoin of course we worry because hard fork events can make money lost, better is transfer bitcoin to exchanger to be exchanged with other coins like ethereum or monero.

Don't loose hope about bitcoin's potential. Please don't go towards these copy cats altcoins. In 2013 also after big bump bitcoin only again rise and now it stand in good position. If you check the world's costliest assets. This will be the first and best stock which will rise continuously than gold or property. Be stick with bitcoins.

To be on the safe side why dont you transfer all your bitcoins into your hardware wallet, but i doubt that anything will happen to those store in the blockchain wallet.

I see a lot of bitcoin users complaining about blockchain so I'm come into conclusion that it is not a good wallet anymore specially this coming event on bitcoin. I already moved all my funds out of blockchain and moved to a more safe and sound wallet like Electrum and core. Don't want to take risk specially we are just few hours from the dreaded Aug 1.


I hope that the wallet provider has only given you access to your private keys because if its not, then their is still risk involved. They disable their transaction, but happens after they resume?

Not frozen market when active SegWit Bitcoin, just maintenance system and you can't send/receive Bitcoin in this time. So, don't worry about issue can't trading BTC/Atlcoin in August 1st ;)

Most of my bitcoins are stored on a PC using MultiBit Classic that's kept offline except when I update it.  My question is will this wallet still work after the split or should I import the private keys into Electrum?  Any thoughts guys? 

I had some on Yobit. received my bcc a few hours ago. i believe yobit will support btc and bcc.

Transferring your bitcoin balances on your offline wallets is a better idea and as I had read from other thread topics, they've also recommended to do it. August splitting has feared a lot of investors and bigger whales wasn't alarmed because if blockchain network will really allowing that to happen, well the circumstances will really their consequences to suffer in the future. That's how I really viewed bitcoin to be the apple of the eye for this current situation right now. Didn't you get the actual logic here?  We've been under the influence of the rumors and I can recommend to take a stand of it and never lose hope, we can survice the challenges.

Of course have to worry, like me this.
I do not know exactly what will happen. I know from my colleagues. May not get BCC or other coins after network split for your bitcoin in online wallet.

The only consequence you will get if you remain your customer in the online wallet, you also will not get BCC.

You must move BTC from your online address eg to a large market like bittrex or viabtc that gives BCC.

I think if you re holding your bitcoins in a secured wallet which you have the private keys there is no need to worry about it, it is safe

i think people are worrying about their bitcoin before 1st August because before 1st August no one know that will is going to happen to bitcoin, but i am sure that after 1st August everything will become normal and the price of bitcoin gain the acceleration very soon. i think we should try to hold bitcoin and not to sell it right now.

Hi all, do we see the split right after 00:01 ?

Exactly, but I think people worry because they don't know if the value of Bitcoin will remain the same, depreciate or appreciate after August 1 and not necessarily how safe they'll be able to keep it.

No need to worry about your holding as long as you stored them in a bitcoin wallet that you have full control of it, like in my our country our local exchanges advice us to take out our btc or convert it into fiat before 7am of aug first,cause btc transaction will be suspended in thier exchange site.

It is just a few hours more, keep your bitcoin safe and transfer your bitcoin on a safe wallet. Better safe than sorry.


Did you have it already? It did not split yet, it is still 31. Or did you bought BCC in anticipation? If you did, good luck, I hope people don't dumped on your bcc.

Today I will get a payment today, August 1, probably will not pay, sometimes I think, fortune is my fate, I do not know what to do, I will probably trade with litecoin now.

I will utterly agree with you. Bitcoins are the most expensive investments worldwide. They are undoubtedly rising continuously in the last few years. I will also suggest the same to all bitcoiners not to give up on bitcoins at any time. Even when they are going through dumping phase, do keep them in the wallets.

OP, if you are worried only about your BTC savings, you can keep calm, there are no danger to your bitcoins. Your bitcoins are safe as long as you have private keys.
All users who had Bitcoins on Yobit already received Bitcoin Cash on 1:1 ratio few hours ago. Hope they will not put BCC wallet on maintenance, lol.

Right because its free then there is a higher chance that it is going to be dumped at least 70-80%. I will not buy those bcc and it's just another challenge on bitcoin on his path. I hope after this event many exchanges will banned bitcoincash on their list.