Bitcoin Forum

If at the time of the hard fork november 15 you will in bitcoins, then be sure to keep them on exchanges, otherwise you will not be able to make deposits for sale, both sides do not want to put protection from repeated transactions

what if we store bitcoins in an mobile wallet, is there any consequence?
is it still can be using for transaction.

you can use, but exchanges the input close and output both circuits

As long as you have the private keys it doesn't matter. The only thing that matters is if those mobile wallets, web wallets will show a statement that they are supporting these hard forks and will be distributing those coins after all. There's no need to worry about it, it's like the same hard fork after all but the next one Segwit2x is what everyone is worrying because it got a lot of support.

I always thought keeping them on exchanges during the fork is much more risky. I can wait 24 hours before making a deposit, just like with any other fork. Some exchanges didn't even take that long and had just a few hours of suspension. Simply keep your money on an address that you control and avoid sending coins on the day of the fork.

It depends on whether you think the new chain will retain its value in the time after the fork.  If you think it will retain its value for long enough to you to bother waiting for proper wallet services to help you split your coins, or you're technically competent enough to understand what you're doing anyway, it's worth keeping it off exchanges to avoid the risk of them not giving you your coins.

If you don't think it'll retain its value and the exchange says it'll give you the new chain at a 1:1 ratio with BTC, I suppose it could be worth keeping it on an exchange.  But I don't think giving it as certain advice is reasonable.

I am a little bit confused now. Is it warning about to hold coins on an exchanger or do not? And will it be impossible to put or output coins only on 15tg November only or some short period around the fork? Thanks.

Oh what is this? There a lot of thing happen and makes me confusing.  i hope bitcoin prices will not down because of this. Okay thanks for the information. Hard fork?

I am also in the same situation like you. Not getting it at all about where to store the coins really. Some says during the hard fork it is always good to store or it is mandatory to store the coins on wallets for which we are holding the private keys really.

If we consider that in our calculation then I’m pretty confused here because I know hundred percent that exchanger have no private keys which are given to us. Their wallets are under their own control. So what’s the logic here.

So it fine to store our bitcoin on an exchange ?
Once the fork is over, the bitcoin might fall as usual soon after the fork. When do we know it will be safe enough to convert our bitcoin into fiat for example ? is it safe if we convert them on that same platform right after the fork or do we still have to wait ?

your warning needs an even bigger warning itself!

these days almost everyone knows this but since OP neglected it, i should mention that keeping your coins on an exchange in not at all a good idea. there has been too many cases of them running away and becoming scams. and there has been even more cases of them closing their users' accounts. recently bittrex did that for a lot of their users from different countries forcing them to verify their accounts and rejecting some even when they did that!

not to mention that in case of no replay protection that OP calls "repeated transactions", the exchanges not only won't support it but also they may lose their funds.

this all means if you hold anything on exchanges you are taking even a bigger risk.

That's true。 It's safer to put it on the exchange when you split it. There's another fork next month. Let's wait for the candy.

do not deposit and withdraw bitcoin during the fork, it will make a delivery error and result in your bitcoin missing. it's better to wait until all the bitcoin systems return smoothly

It is better to keep it in exchanges. They may offer equal amount of both coins after split.

But during hard fork exchanges stop receiving or sending bitcoins for few hours. Even if some don't, it is better not to do any transactions around that time.

lately i'm so busy I don't have time to read the Bitcoin news, thank you alevlaslo your information is very useful for me
I will move my Bitcoin into exchanges, where the good exchange to keep Bitcoin?

Holding your funds on exchanges doesn't mean that you will be able as soon as fork happens. Just remember poloniex that was offline for some days after BCH fork. In addition to that you still have the same smount of risk about the exchange hacks or scams. Anyway the early BCH sellers go their profits only because there was an extremely low amount of suply on exchanges and it won't happen now if everyone will be able to sell their "free money" asap.

Oh what is this? There a lot of thing happen and makes me confusing.  i hope bitcoin prices will not down because of this. Okay thanks for the information. Hard fork?

Retaining control of the contents of your wallet should be more important to you than a potential quick profit from getting to dump the losing chain.

If your bitcoin is on an exchange, it's not "your" bitcoin any more, regardless of what the exchange may say or promise. They may cut and run, they may Gox it up, and you've got no control since you don't have the private keys to "your" bitcoin. It's only yours if you have those keys and nobody else does. Nobody knows what's going to happen when Segwit2X goes down, and nobody can predict how the exchanges will respond. Stay safe, and stay in control.

cant recommend this unless you are conversant in crypto. the only time you should be leaving coins on exchanges is if you know with certainty you want to liquidate as fast as possible. otherwise, the same classic issues that arise are still there: you dont control the keys, and everyone has decided to centralize the store of bitcoin by choosing tht specific exchange. this makes the exchange a more attractive target to hackers and trolls. imagine if an exchange got hacked while it was holding all that coin, or even ddos for that matter ;)

I think this goes against common sense. Leaving all your coins on exchanges exposes you to incredible third party risk. And the fact that there is no replay protection makes this even riskier: what if an exchange screws up their internal replay protection and ends up losing lots of coins?

Or what if this ends like like Bitcoin Cash or Ethereum Classic on Coinbase, where it takes them many months to give people their minority chain coins? There is also no guarantee that any given exchange will support markets for both coins. Bitfinex will definitely offer markets for both, but I'm not sure what everyone's policy will be.

better safe bitcoin to your wallet with private key, not in exchange. also paused transaction use bitcoin before and after hardfork to make sure.

What would be the safest method for you? Keep your coins in a wallet (with private keys) until the dust settles after the fork? Are there any negative effects of such a method?

Good question! Does anyone have an answer for this please?

Somebody have mentioned web wallets here to store the coins on at the time of the hard fork. Last time in August (OK, not last time, because since then the BTG fork has also happened) I have forgotten about a little bit of dust BTC in my Xapo web wallet. In the beginning of October or late September I have received a mail from XAPO that my BCH coins are ready to use, so it took them a while but they have managed to implement the new alt into their system. So web wallets could be OK, but the best is when you have your private key.

This is terrible advice, I'm sorry. Which exchange allows you to keep your private keys? I have yet to hear/see one. Rule number is that whatever wallet you keel your coins in, make sure you have access to your keys.  Let exchanges and wallet developers worry about replay protection. As a user your only worry is your keys, unless you are dumb enough to do transactions immediately after the fork. Your coins will go no where, you can wait a few days, until developers have done their jobs.

The problem in this case is that you need to trust the third party to do right by customers. It's better to cut the third party out entirely and make sure that you have access to your funds anytime you want. That goes for BTC but also BCH or BTG or B2X.

One thing of note here: To ensure that you have access to both BTC and B2X after next month's fork, you need to control your own private keys. But it's a bit more complicated than that. For example, you control your private keys on Blockchain.info. So you can safely extract anything held by those private keys after the fork. But if you try to send/receive "BTC" using Blockchain.info after the fork, you have no way of knowing which chain you are using. Beware!

Don't forget that exchange aren't allowing you to give the private keys of the wallet you will use with them. Are you just want to trade immediately after the fork? Normally exchanges are closing the deposits and withdrawals through that fork coin and they are having some maintenance but they are not closing the buy and sell orders. Just like what happened to bitcoin cash, the trades has been quick and with that pump I missed the chance of selling it at the peak. It's still better to place your bitcoins on a wallet where you have the private keys.

I am sure there will be a big mess with most of the community is split to gain more power and control with the upcoming fork,i do not have any idea how things will end up,as we know the price of bitcoin is rising and i am not sure how things will end up after the fork,it will take some time for everything to settle after the fork i guess.

i do not want to keep any coins on exchanges, and i'm not convinced some of them will do it in the way i want them to. you might end up with a coinbase situation where you're waiting months.

it's gonna be better to sit it out and do nothing while everyone else hammers this stuff out. that's if the fork actually happens which i'm still not sold on.

Yes it is a mess, i have been investigating during the last days and all this matter from this next fork is really a garbage, i dont understand why they are making it so difficult to spend those coins, i dont get it, and why do they want to make double transactions? it is just like sending bitcoins, but sending segwit coins too, it doesnt make any sense at all.
Anyway, lets wait and see how it goes during the next days, we still dont know anything about that.

For safety, I think you should put all your bitcoin and altcoins into offline wallet. That will help you feel more comfortable in hard fork.

Thank you very much for the information. I didn't notice it before. Perhaps translate my bitcoins on Bitfinex.

because in the mind of its creators, this isn't a chain split, it's an upgrade so we shouldn't care about what happens to our old school bitcoins. unfortunately for them the rest of the world doesn't agree with that point of view.

It is much more safer to keep it in your own private keys and not with the exchanges. The exchanges can just decide not to give out the chain split coins and just keep them for themselves. Unlike if you keep it with your own keys then in case their is a chain split then you can always claim both coins. Unless there is already an announcement from your exchange that they will give out coins in case of chain split then go with them if you trust them enough.

What probability do you give to the fork happening? Why don't you think it's going to happen? After F2pool dropped out, I thought it would start falling apart. But then we saw major services (Xapo, Blockchain, Coinbase, Gemini) double down in support of 2X. And F2pool's share of the hash rate is down to 7%, leaving NYA signalling close to 85%.

If it weren't for Bitmain, I think the fork wouldn't happen. But now that Bitmain seems to have bet big on Bitcoin Cash, they have a big interest in a split occurring. If one side has a nearly unusable chain and the other side is seen as a "corporate takeover" then BCH might come out of this looking pretty good. And it's AsicBoost-friendly!

Any significant part of my investment stays in a wallet. If I don't plan on using it, why move it anywhere else? Anything I'm going to HODL is off of the exchanges. They may be trustworthy by and large, but I'd rather not risk it if my idea is just to HODL anyway.

Why are you telling us to keep our bitcoins in exchanges ? If you think that you will be given free bitcoins like it happened with Bitcoin Cash this time is nothing like that. And to keep your bitcoins in an exchange is not safe as we don't know what will happen to that exchange? Many exchanges has been hacked before, some have disabled accounts without a good reason. Best practice is to keep your bitcoins in a wallet where you do control your private keys.

People are wise now! they buy bitcoin and leave it in the exchange for a free money which is another hardfork of bitcoin when split. hope everyone else here when will the best time to buy bitcoin

I want to get my btg,  should i keep my bitcoin in poloniex?  or transfer it to your recommended wallet? 
Anyways am planning to dumped that btg later on.  It is still  a money.

Bitcoin and forks may be just scams. There may be smart people controlling how things go. If you hold bitcoins and say if Nov 15 they fork into 10 forks, where do your coins belong? BTC1, BTC2,...., which forks are the miners
working on.

Heavenly opportunities!. You sell in all 10 forks of the blockchains and then run away laughing to the bank.You got better money - paper US dollars.   

To transfer your bitcoins to the exchanges is the same as transferring cash to your stockbrokers. Are you sure the bitcoin exchanges are regulated? Are you sure they are not crooks. If you have the coins in the regulated Japanese exchanges, then you are safer.   

Why would you keep your money in an exchange in the first place? Are people that desperate for the free coins you will be getting that you would decide to take an even bigger risk by letting somebody else hold your money? That is not the smart move in my opinion.

It's too late to do anything now. The UTXO snapshot that will serve as the UTXO set on the BTG blockchain already happened almost a week ago. Wherever your coins were at Block 491,407, that's where BTG will be when the network launches.


Wise? No. Ignorant? Yes. This is what people mean by the S-curve of technology adoption. Increasingly, users of Bitcoin don't understand how it works, why it exists, or the risks inherent to third party custody. Many of these newbies will find out the hard way why they should never leave funds on any exchange for long.

SELL NOW! Lock in you profits in USD, not anything "virtual"; that is provided you can unload
now and given real money.

Fork means 2 copies of data files. Can you know which is offical and which is not?

I beg to disagree to you dude. Why we should keep our coins to exchanges when we know it's unsafe?
You're just risking your coins just to have a free coin? C'mon, yeah everybody here loves free coin, this means an instant money for all of us but what you're saying is inconsiderable. There are always wallets that supports the hard fork, just transfer it to secured wallet and wait for your free coins.
And if you're saying it can't might make transaction if we didn't store our coins there then it's fine, it's free and we didn't invest it so we just wait when everything is fine.

Thanks you for this warning but I stick to my past stance,I will save on my personal wallet it's safer and not too worried if one day there is a problem.I've also seen famous people here he trusts the wallet offline no third party at there.

Better not stock on a online wallet or in an exchange because once a hard fork happened there will be so much delay with many thing especially the transactions, also there will a variations of prices too. But I would rather keep my money into safer than the exchange wallet.

Yes do that indeed, Japan has not become famous enough from Mt. Gox.

Is not 2013 light years away for your beloved BTC time scale? Mt Gox ??? Ha Ha Ha. Do you want to put your money into Lehman Brothers?   

The japanese exchanges are now fully legalized through parliament - the only one in the world. Why is this not the best?

Keep your private keys man. thats the important thing.