Bitcoin Forum

Hello all,

I am owning some bitcoins and other alt coins since a while and I have been reading a lot over here in stealth modus, really helpful.

Now there is a fork coming up and I am confused;
As far as I can see a fork is like a share split of a company.  Like Pfizer dId with zoetis in the US.  The owners of shares in Pfizer also get shares in zoetis for free, right?

Now let's say I have my bitcoin stored at coinbase.  Do I automatically get the fork shares? Does coinbase support it? Or do I have to put them in a different wallet?
Do I have to claim them?

That is unclear to me. Maybe somebody can help me and probably some others out on this subject?

If you own BTC at the time of a hardfork, you also own BCH, Bitcoin Gold, B2X, etc on the new fork. For each 1 BTC you get 1 BCH, 1 Bitcoin Gold, 1 B2X, etc.

It's basically like someone created a new bank account for you, mirroring your balance by using your old account statements, but at a new bank and with a new currency.



Coinbase supporting Bitcoin Gold seems unlikely. So far it looks like Coinbase will support B2X, but I wouldn't bet on it unless they renew their commitment in an official statement.

If you want to access fork coins that Coinbase does not support, you need to move your BTC to a wallet of your own before the fork happens. Don't forget to account for confirmation times. A wallet of your own is a wallet like Electrum or Bitcoin Core, ie. a wallet where you have direct access to your own private keys.

After the fork you need to import these private keys (or the recovery seed words) into a wallet that supports Bitcoin Gold or B2X respectively. Using the wallet of the respective Bitcoin fork, you can freely access your coins. However you don't need to "claim" them or access them right away. As long as you have the private keys you can access your forked coins any time in the future.

Good that was helpful as I was also looking for answer to this question.

Caution: Before importing your wallet into Bitcoin Gold, B2X or whatever other fork, you MUST send your BTC to other addresses. Once you empty your wallet, you can import this now empty wallet into the forked blockchain to access your forked coins.

This step will guarantee any weird behavior like double spend/replay attacks and so on. You just don't want matching keys in both chains before you send them to exchanges.

Basically when you are having some amount of bitcoin in a wallet and you are the one owning the private keys to that then you can claim your forked altcoin after the forking happens. That was how the previous fork of BCH occured and also how this one is going to work.

If you want to claim bitcoin gold out all the wallets that you have, then during the time of forking make sure that they coins are in a wallet that you have control over and not an exchange. I dont know about coinbase but I do not trust web wallets and so I prefer the Electrum desktop wallet.

i hope bittrex supports bitcoin gold, they did for bch. its quite stressful transferring all btc to private wallet. it was so good when they supported bch.
  :)

As far as I understand from what i've read yes, a bitcoin fork means from 1 coin you get 2 different coins, with the same blockchain. But from the fork the blockchains part ways.

If you would really want to access your bitcoin gold right after the fork has happened, you should move your coins from coinbase to a wallet like electrum (you own the private keys of this wallet). If you're using Coinbase this is NOT the case. You will only receive your bitcoin gold if coinbase decides to and only when they release them. I believe coinbase still hasn't released the bitcoin cash from the previous fork.

If you go the Electrum route, you may stumble upon a period where you cannot access the coins because there is still no software for Bitcoin Gold Electrum equivalent, so you will not be able to export your seed.

Similarly, users that went the Electrum route with BCash had to wait for Electron Cash, and I still wouldn't trust that program.

It's bet to man up and get your node running. All these forks are forks of Bitcoin Core, so if you run a Bitcoin Core node, you will have instantly access to your coins by copy-pasting the blockchain files, you will just need to wait for the blockchain files to be validated which can be a pain in the ass depending on the power of your computer, but I think a day or two max.

thanks for the information and enlightenment, Just wanna know which exchanges will support this fork by giving equal amount to btc holders/ I remember August 1st when those who saved their btc on exchange sites got advantage and sold bch at a high price. These exchanges weren't accepting bct deposit for something before they activated that so just need help which exchange supports this fork.

Yes you are right, you will receive a new coin after that the fork is done, just think about it, if you had some bitcoins before august 1, you probably received your free bitcoin cash, and the same is going to happen with bitcoin and bitcoin gold at the end of october.
You are going to receive one bitcoin gold per bitcoin that you own, and this is how the fork works, you are going to be able to sell them on a exchange once that it gets listed in any of them.

Yes, it is just another altcoin.

Running a full node is ideal for receiving payments. But what you're saying here doesn't add up. Electrum users can simply export the private key to any keys that controlled BTC before the fork.

If there's replay protection, they can simply move their legacy coins first, then export the "empty" private keys into a Bitcoin Gold wallet (or whichever fork). If there's no replay protection, it's best to wait a while after the fork to make any transactions, until it's very clear how to safely split your coins, but I see no reason why a Core wallet is necessary to do so. Technically, one can split coins via nLocktime + RBF in Electrum, although it is not ideal for beginners, as you need command line and nLocktime isn't covered in Electrum's command line documentation.

Hope so it does not go in those mess. better it have some good value after the event so that people who will be getting those free coins will have some worth and can act as a extra income. I do expect some positive result from this fork for both the coins.

Such good ideas here shared by hero members regarding the upcoming fork.
Thanks for that!  :)

With an Electrum wallet which is an SPV wallet basically, you are trusting whatever the servers want to do for you. I don't see how they are safe to be honest, never liked the idea of SPV wallets. It's better than some exchange or blockchain.info garbage tho.



You should stop worrying about this. First control your private keys. Then after the fork happens, you can simply choose whatever exchange is supporting the forked coin at that particular time.

bitcoin and the fork from other virtual currencies also start circulating in the virtual world. In my opinion, even if bitcoin is in the middle of the fork due to other virtual currencies, the bitcoin still holds its value. If consumers know how to take advantage of bitcoin, bitcoin is still the top choice. until this moment

This was the answer that I have been looking for! Thanks!!!

You should definetly store your Bitcoins on a wallet which you have full control over.
I would not recommend to use an online wallet. Thats the only way to ensure you will own both coins after the fork.
Once the fork appears there are 2 coins which share the same block history (until "fork-block").
This means for every BTC you own, "you will get" one forked coin (simply by still owning the private key which has value at the time of the fork).
But there is no guarantee for you to get your forked coin from web wallet provider.
Electrum is a nice light weight wallet (does not download full blockchain).

Agree with you. Electrum is the best and safety app.. I use it too.
I'm interested how much will be cost Bitcoin Gold after fork?
I think that price will be Bitcoin Gold = 1/2 of Bitcoin.

Bitcoin gold is waiting too, that bitcoin cash ...
Is that the miners will support for a while, until the complexity will fly to the moon.

Fork may happen every now and then right. but prices are independent.

Yes Bitcoin Gold. is another hard fork that will bring some changes to the ecosystem.
If you’re a holder, there isn’t that much to fear here, and there may be some free money in it for you

Exactly, this is only thing that Bitcoin gold will represent, extra free money. To my opinion in cryptocurrencies system if will not have any significant influence or value, especialy not on long term, just like Bitcoin cash.
So, there is nothing to fear about and it will not represent any competition for Bitcoin just pay attention where you store your coins.

Yes, there are actually 2 forks happening within the next month. Bitcoin Gold (BTG) should happen sometime next week and Bitcoin Segwit2x (B2X) should happen around mid-November.

All you have to do is make sure that you have your bitcoins in a wallet where you have access to your private keys at the time of those 2 forks, with a warning.

The warning is that you should be careful about moving your coins around the time of the fork, as they could lead to the other coins (BTG & B2X) being moved as well (you can imagine the coins as initially being "stuck together").

You should wait for news and announcements by the devs, stating that the chains are all stable, before moving your coins.

Is there still no word on replay protection from the Bitcoin Gold developers? Now that I think about it, is there even code that is publicly available yet? It seems like they are setting themselves up for failure with the lack of preparedness and publicity. Maybe that's the point -- get everyone sick and tired of these forks, which reinforces the notion that the legacy chain is the true Bitcoin, and that the hard forks are just altcoins. Roger Ver must be pretty worried right now...

Haha, indeed! Roger must be trying to "rally the [non-existent] troops!"

No news and couldn't find any code for BTG either. I hadn't thought about that, they may indeed have done it to emphasize how absurd it is getting, if so, hats off to them! Clever political move.

many possibilities will happen after hardfork. the good news, for those who have bitcoin will get bitcoin gold in november later. I last night read articles that discuss about what things can be done before and after the occurrence of hardfork. following the link https://bitcoinmagazine.com/articles/bitcoin-beginners-guide-surviving-bgold-and-segwit2x-forks/, hope it helps.

Thank you, that was helpful. Although I own only 2.8 BTC, it is still much and I don't want to lose them. I was searching for such a good explanation and I found it, thankfully to you!

Most prefer hard wallets and electrum is the most popular. I doubt Coinbase will credit Bitcoin Gold too. I also have some bitcoins in bittrex and I hope they will credit the fork like what they did before.

If I can just add to that. Make sure you transfer the coins to a wallet, where only YOU have access to the private key and

not a service or online wallet where you share the access to these private keys. I prefer to transfer it to a paper wallet as a

interim measure and once the fork was done, to split whatever is on there to whatever wallet that supports the new

coins. {This gives YOU full control}  8)

Today I downloaded electrum wallet,but i am confused there is a address tab and i can see there are many address listed there,Those are my address?or this wallet changes address every time i want to receive bitcoins.I have made 2fa verification on there does that cost me extra money if so how much it will be,
I am new could anyone help?

Will there be 3 new chans now (core +2(gold and sw2x) ? why the core is not accepting the 2x upgrade?

Yes everybody are thinking a lot on Hardfork, during the hardfork of bitcoin cash even i was scared whether hardfork will ruin my bitcoin balance, actually i was unaware of that. But after learning from this forum threads i got to know how it is working. Bitcoin holder during the hardfork will get the bonus stake of bitcoin gold, B2X etc. I don't know coinbase have committed about this on thier site or any email letter. but yes i will wait for strong confirmation message from the exchanges. I am  also looking for the message's from Bittrex exchange and few other Bitcoin related news site's and blogs.
 

You should never be storing your coins on a online wallet / exchange.
There is no guarantee coinbase is going to pay you those BTG out.
Coinbase has the control over your private keys (the real bitcoins). You only have an account on their website which gives you "the right" to send coins.
In case of a fork coinbase is in charge of the BTG coins. They may give them to you.. or they dont.
I would recommend to download a wallet for your PC (you can download a light weight wallet e.g. electrum)



Yes, those are all your addresses.
Electrum generates a new address for every transaction (for privacy reasons).
Those are all addresses which you are in control of.

Because there is no consensus behind this "upgrade." Much of the user base does not appear to view it as an "upgrade" at all, but rather as an attack and form of coercion brought by industrial miners and VC-backed corporations. I think that there are developers within Core who are open to future block size increases, but not at the cost of ignoring the user base. And certainly not on a timeline of 2-3 months. That's crazy. Most people probably don't regularly upgrade their node software, so how can anyone expect to coordinate a fork on this timeline?

The Gold hard fork is not coordinated with miners (it changes the POW), so it's really of no concern. It's just (yet) another altcoin. If it goes somewhere, maybe we'll get some free BTC out of it.

I need to move some BTC around the 1st or 2nd.

Is there a decent guide to split my coins as fast and safely as possible?  Is there a particular wallet that is gonna be best for this process?

There was a guide that was written here a few months ago on how to claim secondary coins from a split. Look for the tutorial for the BCH one as it will mostly be the same process as Bitcoin Gold. For wallets, I prefer using Electrum since it is light, but if you can run Core then it is better.

Regarding the tutorial, you can check this link (https://steemit.com/btc/@libert/step-by-step-guide-on-claiming-bitcoincash-from-mycellium-wallet-201783t112141477z) out.

You can keep your coins in a wallet which supports the BTG and has the ability to export the private key. If you have the private key to your wallet you will be eligible to claim the free coins after the fork. You can also keep your coins on exchanges like Bittrex and Yobit as they are supporting the BTG fork and they will be giving equivalent amount of BTG to BTC holders. I would strongly recommend you to move your coins to Bittrex as it is safer than other options and you will be able to trade the BTG as soon as you get it. This will give you an advantage to make quick decisions whether to sell or not while others will be still waiting for their coins to arrive.

I'm not sure it's advisable to keep all your coins on Bittrex just to take advantage of the BTG fork. And since this is being done as a snapshot with a public launch days later, you may not gain that much of a time advantage by keeping coins there, either. From the look of things, BTG will be worth even less than BCH, so I'll take my time and keep my coins secure in my full node wallet and cold storage.

I'm not willing to risk any money to this exchange just to sell a bit earlier. Bittrex has actually been acting pretty shady lately with lots of unexplained account disablements, so I'd steer clear of there myself. Hopefully Changelly or Shapeshift will support BTG so we can quickly dump it back into our BTC wallets.

bitcoin is king, all the rest are soldiers ;D

Thanks so much.  Looks like both will workable options.

Does anybody know when the next forks will happen? I am asking if somebody know any specific dates and times when these will occur? I would like to know more about these forks. Anybody knows?

Why would anyone be worried about the masses adopting an obscure coin (the bitcoin fork), we have already seen that situation unfold with alt coins

You should move all your altcoins to bitcoin on OT before 25th October 2017  in other to be able to get free coins that will come out of the splitting. I have also gotting all my coins converted to bitcoin since the day before yesterday. I got some free coins when I lived my bitcoin in poloniex and blockchain.info during the last hardfork in August this year. Coinbase though may not support bitcoin gold for you to get your own share of the splitting coin but there are offline wallet that you can download them and transfer your bitcoin into and after the splitting you will get free coins. I do believe https://trezor.io are going to support bitcoin gold.

you should better keep your btc on the safe wallet devoted specially for it

bitcoin gold is a project of pure water divorce!

i have few question about this fork , more i read here more confused i get


so plz answer this

are my bitcoins safe , i have them in coinbase and faucethub

also i made private key when bitcorn fork happned last time ( july , august)

so should i redeem or bitcoins are safe in private key 

If your coins are in Coinbase and Faucethub, they are not safe, but this has nothing to do with the fork. They aren't safe because you don't control the private keys, and are trusting third parties to hold your money.

However, in regards to the fork, Coinbase said this (https://blog.coinbase.com/timeline-and-support-bitcoin-segwit2x-and-bitcoin-gold-eda72525efd):


They still haven't credited peoples' Bitcoin Cash from the August fork, and they are leaving the Bitcoin Gold question up to their discretion. So if you are interested in receiving BTG, you should hold your BTC in a wallet you control (like Core or Electrum). Not Coinbase. That way, you can recover the BTG immediately when the chain is launched.

Thanks for the suggestion, I've been looking for feedback on this wallet!

yeah, agree with this. im not also risking any of my hard earned bitcoins to any exchange or wallets that supports btg  fork yet  ill withdrew my coins before the said fork will begin on the first or second week of november but all of us has their own decisions regarding to the snapshot/airdrop ,  although  most people are still hoadrding thier coins and buying much as possible to get the equivalent btg on thier wallets but i guess btg's value will be lesser than bch.

Well it is a good thing that hitbtc was able to support bitcoin gold and will be giving out all participants with the bitcoin gold they have accumulated. It is suprising that the price of Bitcoin gold is very high now. Hopefully I can manage to invest on this one.

I hope you have gotten your answers from all the comment...........forking can be a blessing in disguise for most people.