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Author Topic: Bitcoin Exchanges Coinbase, Bitfinex Issue Guidance Before SegWit2X Hard Fork  (Read 233 times)
muraqaba (OP)
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October 08, 2017, 02:46:19 AM
 #1

The debate over whether the Segwit2X hard fork on the Bitcoin chain should be implemented or not has become increasingly heated on social media and among industry pundits.

Many have called for a rejection of the previously ratified New York Agreement after the peaceful activation of SegWit, while others have claimed that Segwit2X is a necessary fork for change.

Today, two major exchanges issued statements regarding their position. Because exchanges provide support for users in both camps, they must remain centrist, while still advising clients regarding what to do with Bitcoin.

https://cointelegraph.com/news/bitcoin-exchanges-coinbase-bitfinex-issue-guidance-before-segwit2x-hard-fork

i noticed they have no stance on this coming bitcoin gold fork. i guess we will have to have our own wallet for that ?
Red-Apple
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October 08, 2017, 03:16:12 AM
 #2

exchanges care only about making money. an exchange is a business that needs to take advantage and make the most amount of money possible.

their stance doesn't matter as much in my opinion. even if they call the wrong thing "bitcoin", in the long run they will be forced to change that.

i noticed they have no stance on this coming bitcoin gold fork. i guess we will have to have our own wallet for that ?

you have to have your own wallet for everything. not just Gold fork. and that one is not really anything interesting but with a lot of downsides like the pre-mine of it!

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October 08, 2017, 03:17:45 AM
 #3

As the Bitcoin ecosystem approaches what appears to be an impending hard fork, it is important to clearly state Bitfinex’s policies on hard forks. Statement Regarding Upcoming Segwit2x Hard Fork https://www.bitfinex.com/posts/223
I am still waiting the new information from coinbase related their service on the SegWit2x hard fork, hopefully the other users can share with us about it. Thanks
cpfreeplz
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October 08, 2017, 03:20:05 AM
 #4

Just hold your bitcoins in your own wallet. Why the hell would you ever do anything other than that? You hope an exchange gives you the other coins you would be owed hut in the end they don't have to give them to you if they choose not to. Just withdraw now ffs. This can't be the whole bitcoin cash debacle again.
muraqaba (OP)
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October 08, 2017, 03:28:56 AM
Last edit: October 08, 2017, 03:51:26 AM by muraqaba
 #5

Just hold your bitcoins in your own wallet. Why the hell would you ever do anything other than that? You hope an exchange gives you the other coins you would be owed hut in the end they don't have to give them to you if they choose not to. Just withdraw now ffs. This can't be the whole bitcoin cash debacle again.

from my whole understanding of bitcoin cash i would have needed another computer to claim them if i held bitcoin myself? i only own one computer.
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October 08, 2017, 03:58:32 AM
 #6

Wow thank you for this. By this post we can see that we can store our btc's in these exchangers before the new segwit. So we just need to sned our btc fund in one of these exchangers so that we can earn free btc yey.

 
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pooya87
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October 08, 2017, 04:01:19 AM
 #7

Just hold your bitcoins in your own wallet. Why the hell would you ever do anything other than that? You hope an exchange gives you the other coins you would be owed hut in the end they don't have to give them to you if they choose not to. Just withdraw now ffs. This can't be the whole bitcoin cash debacle again.

from my whole understanding of bitcoin cash i would have needed another computer to claim them if i held bitcoin myself? i only own one computer.

there are always a lot of different "options" you can choose from to do this! you don't necessarily have to have two computers.

Option 1: use a virtual machine.
i use VirtualBox, it can be installed on any Operating System. and using it, you can create a virtual computer completely with everything. you install another OS in that virtual machine and use that as your second computer.

Option 2: use a live Linux
this is my favorite. you can use something like Tails so that it is designed not to keep anything after your session is over. but others do the same too if you know how. in any case you just download the OS (for free) and burn it on a DVD, boot up, install the wallet temporarily or rather run it and send your transactions and after you are done, you turn off you machine and everything will be gone.

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Mpamaegbu
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October 08, 2017, 04:17:13 AM
 #8

Wow thank you for this. By this post we can see that we can store our btc's in these exchangers before the new segwit. So we just need to sned our btc fund in one of these exchangers so that we can earn free btc yey.

This is where technicality comes in. If you are not a tech guy (like me), I would advise you stay away from it. Just make sure your btc is in a safe wallet. That was how a dude in this forum lost a whopping 45.8btc in his bid to earn the free and newly forked BCH in August. Yes! Dude lost that big. He mistakenly transferred all that to a phishing Electrum site. His Bitcoin gone forever.

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Quickseller
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October 08, 2017, 04:26:22 AM
 #9

Wow thank you for this. By this post we can see that we can store our btc's in these exchangers before the new segwit. So we just need to sned our btc fund in one of these exchangers so that we can earn free btc yey.
The lack of replay protection means there is a real risk of financial loss if you are holding coins yourself and try to spend them after the fork. This is in addition to the fact that deposits on the BC1 chain may not get credited before the chain has ~no value because no no miner and economy support.
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October 08, 2017, 04:49:59 AM
 #10

Folks should keep in mind that they can effectively dump their B2X coins now on Bitfinex using the futures market. You can still get around .25 BTC for them; I don't expect that to last, and expect those who wait until after the fork will get quite a bit less (if anything). There are only a limited number of B2X supporters and once the futures market becomes more popular, or we reach the actual hardfork, they are going to be unable to prop up the price.

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muraqaba (OP)
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October 08, 2017, 06:49:53 AM
Last edit: October 09, 2017, 03:59:19 PM by muraqaba
 #11

Folks should keep in mind that they can effectively dump their B2X coins now on Bitfinex using the futures market. You can still get around .25 BTC for them; I don't expect that to last, and expect those who wait until after the fork will get quite a bit less (if anything). There are only a limited number of B2X supporters and once the futures market becomes more popular, or we reach the actual hardfork, they are going to be unable to prop up the price.

all you need to do is have btc on their site ?
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