Bitcoin Forum

Rookie question folks,but I'm sure a lot of us wants to know the answer.

So, we all know next two month we are going to have 2 more hardforks in 25th october and another 'New York' hardfork somewhere in November. There are good news and bad news.
The good news is, most likely bitcoin holders will get free coins.
But the bad news is that there are articles like this https://cointelegraph.com/news/november-segwit2x-hard-fork-could-see-newbie-users-lose-bitcoins
saying that we might lose bitcoin.

Well for that, techies and bitcoin experts in the forum, please do share your take on this issue to clarify once and for all for us laypersons.

Will our bitcoin safe during these hardforks? (I'm personally using bittrex to hold my bitcoin)

If you have your coins on Bittrex you don't own your bitcoins. You need the private keys of your wallet or your "seed" to be able to receive the hardfork new coins. However Bittrex a few days later of the fork will probably send the equal amount in the new coins to you. If you want to be sure that you will receive your new coins the easiest way is create a blockchain.info wallet, transfer your bitcoins there and use the "seed"(12 word's phrase) to manually acces to your new coins.

I have a related question: if I'm using a Ledger nano s to store my bitcoins I need to store them on "Legacy" , "Segwit" or any of both?

thanks

Thanks for the info, but learning from the previous bitcoin cash hardfork, it seems bittrex user got their coins on time, so I'm sure I'll get it too this time. The question still open tho.

Can someone here that is pro at bitcoin explain what is hardfork? im so lost.
Any explanation or link to explain what hardfork is appreciated.
Thanks in advance guys.

We do not know what will happen. It may be lost, The safest thing to do is put it in a wallet that we only know of private keys. That way no one will have access to it

Here you go, a Short Guide to Bitcoin Hardforks. (https://www.coindesk.com/short-guide-bitcoin-forks-explained/)

The overview is that there has been an ongoing debate (argument) among developers of how Bitcoin should scale (or if it should scale) to accommodate greater transaction volume and greater transaction sizes. There have been multiple proposals. The only way for a new proposal to become active is for the developers to coordinate a date and time at which miners and node operators who agree with the changes to the code to decide to point their mining and transaction confirming activity to the new code, essentially a new blockchain.

To ensure that people who own Bitcoin have the option to adopt the new version of the coin they will give you coins in the new version of the coins equal to the amount of Bitcoin you own at the time of the hard fork. One important stipulation is that if you don't own your private keys to your coins you can't guarantee you'll have access to the new currency. Some exchanges are offering to provide their users the new coins, but not all.

Exchanges that honored payment of Bitcoin Cash during the August 1 hard fork were Bittrex, Freebitco.in, and very few others. Coinbase, for example, was not going to offer the new coins but decided to after public outcry after the fork.

Use a Trezor or Nano S hardware wallet. Both companies supported the BCH hard fork gracefully, so should handle November the same. @xskl0 until November hard fork is over I personally use the legacy accounts on my hardware wallets. There is no rush to move coins in cold storage to SegWit addresses.

That's the first time I hear about the fork on October. Do the miners really voted for it or it is just anew gossip?
Anyway I agree that paper wallet would be the safest place to hold coins for everybody on the period of the fork. I think we need expect new fall of the price due to new game of speculators around the fork. But as many of us I wish to get some more free coins normally ;)

If my bitcoin is in Coinbase, I understand that I may not get equal amounts in the new Bitcoin Gold (and they haven't paid out their promised Bitcoin Cash yet).  But is my original bitcoin safe in Coinbase during a hard fork?

Its as safe as any other Bitcoin in Coinbase, but I don't see any reason to keep it in there during the fork and miss out on free money.  Make a paper wallet with bitaddress.org and you can re-import the BTC and throw it onto Coinbase with breadwallet iOS app after the fork(s).

-B-

your "bitcoin" is always safe.
what these articles point out is "replay protection". which means if the forks don't have it, when you spend on one chain, the coins on the other chain will also be spent because without replay protection the same transaction is valid on all chains.

right now S2X does not have it. but nothing says it can't change before the fork. and even if they don't add it, you will just have to take a simple but additional step to split your coins.

Good news for us as a bitcoin holder. If hardfork happen i think it will be good for bitcoiner since they will get their free coin without losing bitcoin. I dont know that bittrex gives the free coins to customers or not, so i suggest to use wallet on blockchain.info or maybe other wallet that you have/keep your own key/seed.

I'm not worried about hardfork, and I keep BTC in my wallet. hopefully like BCC and I get Bitcoin gold for free.  ;D

Have you ever tried Treezor or Nano wallet ?. They're hardware wallet and it can helps you to handle. Both are Hard fork supported.I my self use these hardware wallet. Its easy to move coins from cold storage to segwit. Anyways nothing wrong happen in a fork two months before and i have no fear now in the November fork.      

Whatever wallet or exchange you are using. Stay in touch with company's announcements. Almost every exchange or wallet providers take proper measures and inform the users about the possible scenario of whether they'll be supporting the new coin or not and whether you should keep you bitcoin there or not. Just stay on popular exchanges or wallet.

It's not a rookie question, it's a good one. 

More worthless hardforking?  More worthless coins? Bleh!  Count me out.  I haven't even claimed my BCH yet and I might not ever do so.

Your real bitcoins should be safe, but listen to the experts when they answer this.  I am not a bitcoin expert by any means, but I know how the last fork went.  Good luck and stay true to BTC.  Accept no substitutes.

This guide is better than the ones posted thus far in my opinion:

https://bitcoinmagazine.com/articles/beginners-guide-surviving-coin-split/

This one was in the times of Bitcoin Unlimited, but it should be still applicable to other scamforks. Remember that as long as you control your private keys, you are safe. But also remember that when it comes to transactions, unless you run a full node, you don't know what you are receiving. For example if you got coins in blockchain.info, you are on their mercy since they decide what Bitcoin is for them. If they list 2xCoin as BTC, then they are scamming you by listing an altcoin (2xCoin) as real Bitcoin (BTC).

So ultimately, the best and only solution is what ever bitcoiner should have done since day 1: run your own damn full node, is not that difficult. So head over www.bitcoin.org right now and start being free from all the retardation today with your full validating node.

t


""More worthless coins? Bleh!  Count me out.  I haven't even claimed my BCH yet and I might not ever do so.""

Ahem - small fact I guess you may not have realized - they are the worth quite a bit more than the fiat dollar (or equivalent) that you live off of - by literal definition.

So tell us...what's it like? Having so much money you can get away with putting emotional logic over reality?

I'm envious.

(I'll be taking the free money)

I've been wanting to know this too so thank you for starting this thread. We can't really predict what will happen so I do hope that the next hardfork wil be the same as the first one.

As long as you own your BTC private keys, meaning a.k.a you aren't storing your Bitcoins on an exchange, you will receive your Bitcoin Gold by keeping your Bitcoins in a secure wallet for the duration of the hard fork. Any hardware wallet or app-based wallet should be good. Even a site like FreeBitco.in will pay out Bitcoin Gold. Make sure to do your research before ultimately making a decision.

Details on the upcoming hard fork:

Bitcoin Gold (BTG)

“Make Bitcoin Decentralized Again”

Forks: October 25th, 2017
Live to Exchanges: August 1st, 2017

Goals:
- Create a truly decentralized Bitcoin
- Proof Of Work: From SHA256 to Equihash, CPU mining vs GPU mining
- Make mining more accessible to all
- Make “big” miners less relevant

http://btcgpu.org (http://btcgpu.org)
https://twitter.com/btcgpu (https://twitter.com/btcgpu)
http://bitcoingold.org (http://bitcoingold.org)

Ok

So I have BTC on Coinbase and bittrex. Unfortunately the ledger Nano s I ordered is back ordered and only arrived in nov.

So the best compromise for the fork is to move BOTH the Coinbase and bittrex BTC to a wallet with private keys of my own. And the best and easiest of those would be?

The fork coming on November is the one that most miners voted, the fork coming in October seems to be the idea of Jack Liao, they are going to change the hash algorithm for Equihash allowing the use of graphic cards, this is attempt to try to bring mining to the normal user once again but it is going to fail since no one is asking for this fork and there is no user demand.

it mostly depends on you.
generally speaking it is not recommended to leave anything with either of these two services, you may end up losing your bitcoin if they run away or get hacked or anything like it. you should always move them to cold storage or at least a safer wallet that you control. https://bitcointalk.org/index.php?topic=1631151.0

for claiming bitcoin gold Coinbase may not credit your coins, but bittrex might. although they have to make an official announcement which they have not yet made any.

We do not know what will happen to the next hard fork. It can be beneficial or beneficial depends on the result. And to make sure you're not affected it's best to place a wallet on your private keys. This is because no one can enter your wallet anybody else. Do not just let your private key know because that's the only way to open your wallet. And one thing you should keep in mind is not to forget about it because all your money will not be recovered.

I think what most people do is to wait it out. Do not spend large amounts of coins just after the fork. If you have to spend coins, do a small test transaction first and see if replay protection comes into play. Also monitor the forums and Reddit to see what other people reported.

If something went wrong with the fork, you will get advance warnings or alert messages from users and developers. So the strategy should be to sit on your coins for a day or two, to see how successful the fork was, before you start spending the coins.

Always remember the fundamentals and do the right thing. Buy the cheap and avoid the high prices. Buying into BTC now may not be the best choice?

Even am not sure about bitcoin hardfork on oct 25 is that just gossip or miners are voted still I dint find genuine resource last time august first hardfork I had around 100$ worth bitcoin in blockchain.info after that I dint try to get bcc . But this time I need it because I have bigger holding compare to last time . I will send mail to bittrex and other exchanges will they support hardfork and give new coin. After reply back here.if somebody already done please let us know .

We can not be sure that we should be careful. especially this money we have earned and kept. So we must put our bitcoins into a wallet that we hold our private keys so that no one can open it. This is also the only way for our bitcoins to be safe on hardfork

Dude, if you really wanna be sure, then take your bitcoins out of the exchanges if they are in it. And transfer them to hardwallets that accept bitcoin gold. Always remember that in the crypto world, being paranoid is a good thing, the more you get paranoid, the safer you are. So i hope you take my advice.
Goodluck.

what is the simple but additional step?

hello i amalso feeling stress for this hard fork.
i am searching a good answer.plz share some info regarding bitcoin gold hard fork .thank you

This dude said it well , move your bitcoins out of the exchanges , transfer them to blockchain.info . Well don't become too paranoid tho ...one day you will trust no project and you can miss some really good trains so better just be extra carefull what u read , what u buy , what u sell , what u hold.

Hello!

If i keep my BTC and ETH to my KeepKey, hardware wallet and i have the same 12 words for both wallets will i be able to get bitcoins gold after fork immediately or I'll should wait until KeepKey will do something to be able to get my Bitoins Gold?

Thanks!

I'll probably buy a trezor or keepkey and store my bitcoin in there. I can't trust exchanges and they don't guarantee for us to get our bitcoins after the chain splits.

Well i'm basing my actions here with how the previous hardfork worked. I probably will cease any trading days leading to oct 25 and leave my btc in my exchange wallet. Hopefully nothing bad happens but i'm pretty confident that like the aug hardfork, everything will be fine

I believe everything will be as good as the last time, I will keep btc in my wallet on bittrex

It depends on the order you move them in before and after the fact.

Same as before, relax and let what ever happens happen. The only main thing that I suggest is to keep funds in a trusted online wallet. If a major fork kills your software wallet, you are screwed. Most major sites and exchanges will pick a fork in a major change and move your balance one way or another.

Of course, this is also a great time for a site to steal it all and claim that the fork killed it, lol.

Honestly just make sure you do it before the fork you do not want coins in an exchange wallet the time of the fork. do what ever paper wallet or use your nano ledger. just make sure there aren't aint coins in the exchange

Your coins are actually safe as long you do store it on the wallet that you do have the possesion of private keys and also i dont really trust up to store it on exchanges because i do really have doubts on doing such thing and i dont like that i dont really have the full control of my funds but well this is only my own perception and people could actually store up bitcoin on fork supported exchanges.

Nothing is safe now lol.

Then the best option is to just keep it on a wallet that you owned your private keys. It's better to undergo to a hassle claiming but sure shot that we can claimed it than rely on unstable wallet software or keeping it on online exchanges. Although chances that web exchanges will distribute their users respective shares, it will takes time to the point that during the distribution, the coins were now lowered in price.

I think there is a possibility that we get another thread created by theymos, similar to what happened with the previous bitcoin cash fork, in which theymos told to us how things were going, that thread was very useful and most users, myself included, watched that thread and did not moved our coins until theymos gave the green light and said everything was ok, but this is just a speculation if that does not happen then we will need to read around the forum and other websites that cover these forks.

I think. The hard fork that is coming is supposed to be good news. That's how it happened in the two BTC days. Attention should be paid to risk. Now the money has gone into BTC

i think if we are saving in other wallet like mycelium, jax, bitcoin-qt, our bitcoin still safe but i don't know with the exchanges. as long we activate 2fa for our exchanges account, it will be safe too although there is no safe wallet but we can prevent from the hacker. beside that, i don't want to safe my bitcoin in coinbase, i am prefer with the wallet i mention above because i don't have any problem with that wallet.

Newbies might lose their money only due to utter foolishness, just there was a precaution during the first hardfork saying that it's risky to move the your coins during the fork and you might not get your coins back, something like that. But other than that, you won't be having a problem.

+1. I stick to the same strategy. At the first hardfork I kept btc within cex and all went fine (aside from delayed withdrawals  :(). So, I guess I will do the same this time as well. Waiting for their official announcement.

I have private keys and my Bitcoins are sitting safe at my address. Do I need to wait until November 1st or some safe point announced later on, to move my BTC coins to avoid replay protection? Or can I start moving my BTC coins right away, say a few blocks after the fork happens without worrying that my BTG coins will also move? Or do I need to do some magic replay protection tricks, if I want to move my coins right away?

Yes as per btg s website they have replay protection.
but yes you need to take your own replay protection that is donot spent your bitcoins within that 2days from hard fork.let everything spelldown then send bitcoins.
and about the November hard fork.the game will be real big then.but yes you should take your own replay protection to avoid loss of coins.

I am not worried about the HardFork. I think November HardFork will not create any effect on Bitcoin. And this also will be good for Bitcoin holder. I do not agree with this article.

as i know our bitcoin will safe if you store in wallet that we keep the private key. some exchange also offer free coin but keeping on own wallet with key is better for me.

To me my personal views is that bitcoin will be safe during hardfork, just like previous time but still it will be good if we transfer our fund into tesktop wallet, where there may not be any chance of losing our bitcoin. to me i personally have private key and therefore i am a little satisfied regarding this case, so we need to have some safety steps before hardfork.

They already made btw https://blog.cex.io/news/segwit2x-16585

No you never say that there is any problems. I am not a supporter to store coins during the fork in the accounts on the exchange. But I have not heard that anyone had problems. I just always act ahead of the curve. Why take the risk? I use CEX for exchange of bitcoins. I like this service, but I was calmer when the money in the wallet.

Yep it's all well and safe in the end. I'm using bitfinnex. Now preparing for the next fork!

If you want to keep your Bitcoin safe I think you shouldn't use Bittrex cause it's not your wallet when you can't export or import privatekey whenever you want, it's just an exchange so I think you should withdrawal your Bitcoin to another wallet that you can easily export or import your wallet private key like Electrum it's much better and safer than keeping your Bitcoin on any exchange website.

You have nothing to fear because your Bitcoins are safe during hardfork today and in November. Just do not make any transactions especially when your Bitcoins withdraw from the exchanger to your wallet. Because it can disappear or is it long before it entered its papatunguhan. And to make sure you put your bitcoins on the wallet that BTG is supported to receive you free BTG

I see no reason to worry about keeping BTC in Bitcoin. I simply do not see enough trust out there in the virtually unknown gold. There is a lot of information there, but much of it comes from the dev's, without anything backing it up. As everything is safe in August and October fork, similarly everything will be safe in November Fork.

Remember everyone some Exchanges are already supporting the Segwit2x HardFork New York Agreement ???that is pushing to not just fork,Without Replay Protection......but is attempting to takeover the complete Bitcoin PROTOCOL.and the name Bitcoin. >:(  Can feel a malicious attack coming into play.
If they were really people of integrity......maybe they would be more mindful of the whole Bitcoin Community,and employ replay protection and let the users decide which path to follow as Roger Ver did with Bitcoin Cash.It would be a WIN-WIN SOLUTION........If they are chosen by the whole community over time,then I have no problem with that,and WE ALL GET ANOTHER DIVIDEND
But this grab for power after cobbling an agreement behind closed doors in New York,with corporate business and corporate miners goes against everything Bitcoin principles stand for,
The Bitcoin Network should remain true to it's opensource decentralising tenets.The Bitcoin Core developers are the creme de la creme of crytography,code and are drawn from all over the world.
Checkout: "Are the bankers trying to middle man us?"on Youtube.An interesting fact based appraisal of some of the financial backers of this coup d'tat.
Get your Major Bitcoin Crypto balances onto a secure wallet off the exchanges,with private your eyes only Private Keys,and make several paper copies of your keys and guard them as you would your children.
You then decide the timeframe when you are comfortable placing anything considerable back on an exchange.
My thoughts are to enjoy my Christmas Holidays and wait until the New Year......Patience,Peace and Respect.

Good to know all these ,it has really help me understand a lot about what to do if there is Bitcoin Fork, i was abit confused about all this really not knowing what to with the bitcoin when the Fork hits.Although my Bitcoin was in my wallet at that time,but panic a lot.

There is nothing that will give people the same feeling of established trust that they already have in Bitcoin.
There will be some that will change and some that will wait and then change later, but I do not see enough moving to make your BTC worthless.