Bitcoin Forum

Hey guys,

I believe I already know the answer, but I want to make sure...

Should I pull my money from the exchanges (bittrex and Binance) and put it in my cold wallet for the fork to make sure I get the b2x coins?

It's currently on profit trailer's bot mercy, but I will sell them and convert to BTC if I must.

Thanks

In an event of a hard fork you should make sure that you have full control over the funds this means that you control the private key. Some exchanges may announce that they are supporting the new forked coin, but I would still recommend withdrawing all of your funds and putting it into a wallet that you control.

B2x is a pile of crap though, seriously.

Yes, you should. If you don't pull your Bitcoin from the exchanges pre-fork you're ability to claim the forking coin is at the mercy of the business decision making of the owners of the exchanges.

Example: Coinbase was not going to honor Bitcoin Cash for the customers but after the fork a lot of their customers started complaining. Some accused Coinbase of fraud - which, obviously wasn't true but just an indication of how naive these customers were. Coinbase relented and agreed to honor their cusotmer's claims for Bitcoin Cash and deposited it into customers wallets last week. This was 4 months after the fork occurred and only after Bitcoin Cash had greater support among the market place. There's been zero indication that Coinbase will be honoring Bitcoin Gold for their customers.

When is the B2X fork supposed to happen? I believe sometime today. I can't remember the block number, but it's coming up...

that being said, I didn't know anything about it and I try to follow the crypto news closely. This one is on me.

is you still get b2x although you use exchanger wallet?  ??? (correct me if im wrong) , if you think that important why not , everything on you .  
yeah and also you get full control of your money when you put on cold wallet

blocknumber for the fork should be 501451, that would take another 10 hours maybe...?

Usually exchanges support the forks. There are even some wallets that are ready for most of the forks that Bitcoin is going through. I'd say it's safe to keep your BTC in the exchanges for the forks. But overall it's not safe to keep your coins in exchanges. :)

for the b2x coin i believe it is already too late because i can see Yobit has already distributed the amount which indicates the fork has already happened.

to answer your main question, it depends on how much bitcoin you own and whether you speculate the forks to have any decent value!
because in order to withdraw and then deposit back again after the forks you need to pay fees. if you have something like 0.1BTC then it is not worth the effort! because the fees will be so much higher than the profit you may get with each coin being worth 0.001-0.005BTC and at best 0.01!

but with higher amounts it becomes more valuable to do this.
also remember that when you withdraw you will have to wait a very long time before you can find a trusted wallet for these forks you can use to claim your coins!

You don't need to pull your money, just save your BTC and let it remain at the exchange for you to get the result of the fork, the B2X which is equivalent to your BTC holding at the exchanges that supports this pork, it's an additional to your funds, so make it sure that the exchange where you have put your money supports the fork.

Bitcoin core is a trusted wallet which will be more than enough. It's not too late either because the block is another few hours away from happening so if you transferred that to a wallet you would get the amount in forked coins.

You guys know if binance and bittrex supported the BCC fork? If so, I'll just leave it in there. I think they did, but I wasn't around here for it to happen...

bitcoin core is a bitcoin wallet/full node it has nothing to do with these altcoins that are being created each day and call themselves a fork of bitcoin!

in order to claim/spend these new coins you need to download and install another wallet specific for these coins. usually it is their full node which they actually fork from bitcoin core, and rarely you can find an SPV wallet like Elecntron-cash which is a fork of Electrum.

Bittrex hasn't issued any statement till now but here it's mentioned it does: https://cryptocoinmastery.com/what-exchanges-are-supporting-segwit2x/

I guess there are some exchanges that support B2x fork as well like Yobit supports it as well as Hitbtc and any other wallet whose private keys you would credit you with the same amount like blockchain, jaxx, electrum and so on.

For this coming fork, your idea was great. Rather than waiting for the announcement of these exchangers that they will support every fork of Bitcoin. Some of them really announces late because of this. Hope I could also buy a wallet for cold storage too. But still good luck to your plan.

Yes but before the fork you need to control the private key. Which is what bitcoin core will allow you to do so. You can then import the private key into the wallets which support the fork. Which I don't think any exist right now due to it not being forked yet.

Exchanges don't give you control over private keys therefore moving your funds to bitcoin core would be a wise choice.

HitBTC is supporting the new chain, there is a list of partners at the officila B2x site: http://b2x-segwit.io/ (http://b2x-segwit.io/)

Well since I do not have much bitcoin I will secure it.  Just do what you think will benefit you the most.  It is better to act now rather than to overthink and end up beating yourself.  I want the best for my bitcoin so definitely I will pull them out to the exchanges.

Why is that since it's a copy of the original open source code used on BTC with some tweaks to make it better ?

The miners here have been taking the piss with fees and we are fighting back so i hope you didn't spend too
much on all that mining equipment just to play CPU Wars

Fact is as it has been implemented the whole protocol is shit and others are moving away from it and
you should do some research on IOTA (Not fantastic, but better) or study up on HashGraph not that it is
being used yet by any ICO

Please come back and debate if you want to understand whats inside these slot machines instead of being
lead by blind greed   

Referring to those experts here in bitcoin will help you a lot, some says to pull out your money and put it in the trusted exchange some says just hold it buy I do the same to pull out and put in an exchange where I put my 100% trust so I have an assurance and I can calm down and can sleep at night.

It is always best to have the keys for wherever your bitcoin is stored. Most exchanges will add the forked coins.

Its better to hold in a wallet rather than keeping your funds on a exchange, some exchanges will support some might not so its better to hold in a wallet where you have control to the private keys.

Don't cry if those websites just shut down all of a sudden, that tends to happen to each website with enough BTC on it.

Does it matter if i have my btc in a segwit address wallet or a legacy address wallet for when the snapshot occurs?

First of all, you put cryptos in a cold wallet dear, not money.
But if you mean a certain crypto then yes. You should.
I honestly don't trust exchanges since they cam always change their rules and regulations that might affect you a lot and may lead to losing all the cryptos that you have worked hard for to gain.

But, to be honest, i think that selling your crypto possessions just for the sake of getting free B2x coins is pretty stulid(no offense). If you really plan on doing this, you might as well invest it in promising alternative coins out there or great ICOs. This will surely give great profits. Because trust me man, B2x isn't worth all the hassle and the fees plus the potential profit if you hadn't touched your coins on the profot trailer.

These are just my opinions though, whatever it is you decide tondo is still in your hands.

Good luck pal.

Does anyone know if segwit fork did happen today? It went off radar, also there are quite a few threads in the forum here. I know it is not a big thing anymore (as it was supposed to be), but still it is a fork and could influence bitcoin to some extend.

Yes but i hear that they charge a fee or might want your private key and making a new wallet and moving
your BTC back into it after you have exposed your private key may cost $45 in transaction fees.

Looks like BTC is becoming un trade-able with these fees that started the year at a few cents so
that's got to pull the price down or pop the bubble if you ask me

you dont need to pull it out some exchanges support the fork, you just need to trade your alts into bitcoin and buy back again once the fork is done. but why do we really need to much fork? btcash and gold are there why so many fork to do?

I don't think you understand...

Crypto, money whatever... it's a form of exchange, not going to calling it money is right or wrong.

To do bot trading, or daytrading, you have no option but to leave your stuff in an exchange. I'm sure you know that, but if you didn't you can't daytrade from your cold wallet.

I'm not selling my crypto posessions, it's my day trading stuff. if B2X were to take off like BCC did you'd literally make free money... Look at value of BCC now. but again, that's another topic.

I was primarily curious what people are doing to get free B2X. If I have 1 BTC and B2X turns out to be something good, I would have made some good money down the road.

It's of all the disagreement and the fact that nobody controls what happens. I agree BTC has become unusable for it's intended purposes (it makes me wonder how satoshi didn't think 4 transactions wouldn't be enough for mainstream). Problem is, there are so many variants of it now... BTG and BCC the two biggest. I think the alternatives are good enough for now, but I don't make those decisions.

From GDAX website:

"All GDAX users with a BTC balance at the time of the snapshot will be credited an equal amount of B2X. Users do not need to take any action and will automatically be credited with B2X into a new B2X balance in GDAX at the time of the fork."

I assume it's the same for Coinbase. The fork supposedly happened today at block 501451.

https://support.gdax.com/customer/portal/articles/2893011-bitcoin-segwit2x-fork-faq

At the moment the transaction fee of the commercial sites are quite large, I think you should not withdraw capital will suffer a lot of losses. Currently bitcoin is down, this will be the opportunity to buy into bitcoin, you can DCA bitcoin if you have bought bitcoin at higher prices in the previous days. Keep bitcoin for 2018 because you will need bitcoin to trade with other altcoins or simply keep the bitcoin and wait for its value to go up.