Newbie question about forks

[the_observer]

Hi all,

when a fork is imminent for a cryptocoin is it a good idea to go buy it before the fork?

From what i have read ,it is a good idea because after the fork you have an equal amount of coins from the original coin AND the forked one?

Is this correct?

Thank you for your time reading this.

[Alartonicus]

It is necessary to look how fork accrue its coins. BCH did correctly keeping its wallets compatibility with BTC. Get an amount of BTG more difficult.
Some forks require private keys from the main coin and this is dangerous. Phishing and scammers exist always.

[mk4]

is it a good idea to go buy it before the fork? Based on the past forks, prices tend to go higher a bit like a week before a certain hard fork. But that doesn't automatically mean that it will be the same for the future forks. There's always a risk.

To your second question, yes. You will have the same amount of coins with the forked coin.

[TaKlarPH]

I am a bit out of hand and a little confuse here.
•When fork is happening the  bitcoin rate and amount that is equivalent to money will be the same?

sorry I got a little bit confuse even I got a little knowledge of fork

[mk4]

I am a bit out of hand and a little confuse here.
•When fork is happening the  bitcoin rate and amount that is equivalent to money will be the same?

sorry I got a little bit confuse even I got a little knowledge of fork

Hi kabayan!

If I understood your question correctly: There is no fork of bitcoin that ended up having the same value as bitcoin. Bitcoin forked coins always end up significantly cheaper; the most expensive currently being bitcoincash currently sitting at around $3,900.

[kyasarin1205]

I am a bit out of hand and a little confuse here.
•When fork is happening the  bitcoin rate and amount that is equivalent to money will be the same?

sorry I got a little bit confuse even I got a little knowledge of fork

Hi kabayan!

If I understood your question correctly: There is no fork of bitcoin that ended up having the same value as bitcoin. Bitcoin forked coins always end up significantly cheaper; the most expensive currently being bitcoincash currently sitting at around $3,900.

May I asked if a fork is happening and exchanges are participating in it and I have my coin in that certain exchanges, will it affect my coin? Like, will it disappear? And some says that forks allow you to have new coin which I think is the bitcoin forked coins. If my bitcoin is on an exchanges will that be included in receiving that bitcoin forked coin?

[mk4]

I am a bit out of hand and a little confuse here.
•When fork is happening the  bitcoin rate and amount that is equivalent to money will be the same?

sorry I got a little bit confuse even I got a little knowledge of fork

Hi kabayan!

If I understood your question correctly: There is no fork of bitcoin that ended up having the same value as bitcoin. Bitcoin forked coins always end up significantly cheaper; the most expensive currently being bitcoincash currently sitting at around $3,900.

May I asked if a fork is happening and exchanges are participating in it and I have my coin in that certain exchanges, will it affect my coin? Like, will it disappear? And some says that forks allow you to have new coin which I think is the bitcoin forked coins. If my bitcoin is on an exchanges will that be included in receiving that bitcoin forked coin?

Will you have access to your coins if bitcoin forked while your coins are on an exchange? It completely depends on what exchange you are using. Some immediately gives you the forked coins, some takes time(sometimes a lot of months like Coinbase).

[Azoth928]

Hi all.

First post so be gentle ;-)

Was going to post a new thread but hoped you can confirm what I think.

Waaaaaay back in 2012 or 2013 I bought a couple of bitcoin. Have just found the backup file and it was on the core wallet.

Have dowloaded the core and its syncing.....this could take a while.

So the question is.... If I can access the 2 bitcoin in my wallet, does this mean I have;

2 BTC
2 BTG
2 BTC

Is there a new thing BTX or Super BT....Diamond... I have also??

Never used/moved or traded the coins. Is someone going to tell me that I can only buy a 12" Pepperonni with it now as they have not been used and in an old wallet since these forking, forky, forks have happened?

Thanks so much for any help.

:-)