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Title: How much in advance should I send BTC to cold storage before fork? Post by: hoganJ32888 on December 24, 2017, 07:36:39 PM There are a few forks coming up. Bitcoin God fork at block 501225 and Segwit 2x is at Block 501451.
What's the latest I can keep my funds in the exchanges before sending to hard storage? In particular, Bitstamp Coinbase (I hate) Kraken Do any of these have a delay window before sending? Title: Re: How much in advance should I send BTC to cold storage before fork? Post by: TryNinja on December 24, 2017, 08:25:01 PM Those exchanges are all unpredictable. The may send your coins at the same hour/day or keep them stuck due to the huge backlog of withdrawal requests or number of users. If I was you, I would take your coins and keep them in a desktop wallet as soon as possible and wait for the fork.
Title: Re: How much in advance should I send BTC to cold storage before fork? Post by: whycrypto on December 25, 2017, 12:26:02 AM Sorry for the ignorance but why would you want to put your BTC in cold storage ahead of the fork? I understand that cold storage makes your btc super secure so how does a fork compromise your btc?
Title: Re: How much in advance should I send BTC to cold storage before fork? Post by: LTU_btc on December 26, 2017, 12:50:30 AM Sorry for the ignorance but why would you want to put your BTC in cold storage ahead of the fork? I understand that cold storage makes your btc super secure so how does a fork compromise your btc? It's not about safety. You need to keep btc on wallet at the moment of fork, where you have full control of your coins - you need to have private keys, so you need hold btc in cold storage (paper wallet), hardware or desktop wallet. It will guarantee that you will be able to claim these forked coins. While, if you keep btc on exchange, there is no guarantee that they will credit forked coins to their users. |