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Author Topic: What happens in future to your BTC if they are stored on hard wallet ?  (Read 1201 times)
lister storm
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June 02, 2017, 12:00:52 AM
 #21

I wont be using segwit addresses if they are coming out.  there's a possibility miners could at some future point decide not to validate their signatures.
there is a possibility, but it will not happen, it's like saying that it is possible that miners will stop accepting transactions and destroy bitcoin, of course it is possible but won't happen. Just think about it, if they actually decide to not validate the signatures they would kinda destroy the bitcoin because if segwit gets activated literally 90% of the users will be using it in order to send over the money.
Zicadis
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Dump it!!!


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June 02, 2017, 01:05:01 PM
 #22

Any ideas what could happen to your BTC holdings if your storing them on an offline hard wallet and want to sell them 5-10 years later? Would there be code issues where the BTC you have now will not be recognized or cashable at that that time ?
Of there will be compatibility issues with the old software but as long as the software/hardware developers of the wallet  are still in business a simple update should fix that and just in case of a possible hard fork remember to store your private keys as the best option to your stack of coins.

Im curious because I bought a hard wallet but have no idea how usable the BTC version i have today will be in the future?

Once in a while you need to check on whats happening in the world of bitcoin just to make sure you investment is safe.
swogerino
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June 02, 2017, 01:08:19 PM
 #23

Any ideas what could happen to your BTC holdings if your storing them on an offline hard wallet and want to sell them 5-10 years later? Would there be code issues where the BTC you have now will not be recognized or cashable at that that time ?

Im curious because I bought a hard wallet but have no idea how usable the BTC version i have today will be in the future?


Normally no as many hardware wallets have already prepared their wallets to be ready for a hard fork in bitcoin. You are already a member of this forum so all you need to do is to read the forum often. This way you will be updated with any new regarding bitcoin and what happens to it. If you bought one of the latest hardware wallet from a big brand like Trezor should be no problem.

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MintCondition
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June 02, 2017, 01:23:32 PM
 #24

Any ideas what could happen to your BTC holdings if your storing them on an offline hard wallet and want to sell them 5-10 years later? Would there be code issues where the BTC you have now will not be recognized or cashable at that that time ?

Im curious because I bought a hard wallet but have no idea how usable the BTC version i have today will be in the future?


Normally no as many hardware wallets have already prepared their wallets to be ready for a hard fork in bitcoin. You are already a member of this forum so all you need to do is to read the forum often. This way you will be updated with any new regarding bitcoin and what happens to it. If you bought one of the latest hardware wallet from a big brand like Trezor should be no problem.

Hardware is not advisable for long term storage especially when you are not updated on bitcoin, You might get left behind if you didn't update your wallet hardware which is the usual case why some people lose their BTC after long years of storing it.

zedsacs
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June 02, 2017, 01:38:25 PM
 #25

There are some situations that may happen, first, maybe your bitcoin would grow, and the second one is that your bitcoin would fall.

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SimmonenY
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June 02, 2017, 01:52:48 PM
 #26

Well, you might become either rich or poor)
niisarearning
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June 07, 2017, 12:10:48 PM
 #27

10 years Its long term i hope if your keeping in hardware wallet you should be update about technology changes in bitcoin as well as altcoin impacts yes of course as the blockchain primary thing private key is always same no matter how many codes are changed
itsallpc
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June 07, 2017, 05:33:03 PM
 #28

Any ideas what could happen to your BTC holdings if your storing them on an offline hard wallet and want to sell them 5-10 years later? Would there be code issues where the BTC you have now will not be recognized or cashable at that that time ?

Im curious because I bought a hard wallet but have no idea how usable the BTC version i have today will be in the future?

No damage would happen to your bitcoins.It would remain safe.You could use the same private key to get access.Or else,you could use your seed to recover your account.But follow the developments occuring in bitcoin environment day by day so that you would have clear knowledge if any new development takes place.
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