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Author Topic: Is a hard fork coming? What should i do?  (Read 757 times)
trickshot22 (OP)
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July 27, 2016, 12:47:38 PM
 #1

So i see some people from time to time telling that block size is going to be increased to 2 mb per block, will there be a hard fork for that then? If yes then what should i do with the bitcoins i have? i have like 1.3 btc and i dont want to lose it if the hf happens
Red-Apple
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July 27, 2016, 12:58:55 PM
 #2

So i see some people from time to time telling that block size is going to be increased to 2 mb per block, will there be a hard fork for that then? If yes then what should i do with the bitcoins i have? i have like 1.3 btc and i dont want to lose it if the hf happens

where did you hear about the hard fork?
although i may not be the best to explain this but as far as i know the change will be like a soft fork with segwit to less than 2 mb and then more and more. but never as a hard fork like going to classic.

p.s. and i hope a "hard fork" never happens in bitcoin. just look at the disaster that ethereum has made.

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achow101
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July 27, 2016, 09:16:45 PM
 #3

There is a group of bitcoiners who want to hard fork the blockchain in order to increase the block size limit. However, their proposed fork does not have the majority of miners or users agreeing to it yet so it is unlikely that the fork will happen.

If Bitcoin does hard fork, it will not be possible to lose your Bitcoin. However, if the fork is unsuccessful, then a situation like Ethereum's fork could happen; there being two surviving and working blockchains post-fork. This can cause some issues, and for people looking to execute replay attacks to double their money, it could potentially result in a loss of money. If you only intend on using one of the two forks, then your Bitcoin will be safe.

tl;dr a proposed fork exists, but it probably won't happen.

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July 27, 2016, 09:22:09 PM
 #4

It could destroy the market value, but not the coins.
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July 28, 2016, 12:17:39 AM
 #5

So i see some people from time to time telling that block size is going to be increased to 2 mb per block, will there be a hard fork for that then? If yes then what should i do with the bitcoins i have? i have like 1.3 btc and i dont want to lose it if the hf happens
Its unlikely to happen. Some bitcoiner minority have this idea but the miners are not behind them, so they won't accept this protocol update. Don't worry about it  Smiley

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pooya87
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July 28, 2016, 03:18:26 AM
 #6

nobody said what you should do, so here it goes (just for the record i don't think it can happen but) if by any chance hard fork happened, there will be two scenarios:

1) there is no consensus when it happens so we will be left with two chains, both viable and you will have coins on both chains. best thing to do in this situation is to move your coins to a cold storage before fork happens and wait out the s**tstorm until one chain dies.

2) with a consensus like if 90%+ are on board everything would change rather smoothly and although i think it is safer to wait it out for a while but things would change a lot easier.

i should add that i don't think hard forks are a good idea at all and should be avoided and instead a soft fork should happen with a smoother transition and consensus is the most important part of it all.

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July 28, 2016, 05:46:30 AM
 #7

There's no hard fork coming anytime soon,  we are literally years away from that,  it's taken years just to get segwit abd and we still don't have that.  If hard fork ever comes you don't really need to do anything,  if your bitcoins are in a wallet they will still be their after the fork.

Mike8
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July 28, 2016, 05:48:35 AM
 #8

So i see some people from time to time telling that block size is going to be increased to 2 mb per block, will there be a hard fork for that then? If yes then what should i do with the bitcoins i have? i have like 1.3 btc and i dont want to lose it if the hf happens

The chancess for a hard fork are slim.
And even if that would happen, your wallet and BTC will be safe. Really.
ethereumhunter
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July 28, 2016, 06:56:31 AM
 #9

where you heard that news? i think its just to make a panic market and people will sell ETH and the rate will be down. and yes, this is happen while ETH rate is down until 0.016 if i don't miss it. take a relax bro, it doesn't affect into your bitcoin amount, its only hard fork of ETH. do not be worried.

and if you do not want to trading ETH or ETC, then you can trading altcoin, and i think many altcoin will be a good choice to buy while we can sell at the rate we want.

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July 28, 2016, 07:06:57 AM
 #10

It's rumor until it's fact. Cheesy
Mike8
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August 04, 2016, 07:23:34 AM
 #11

So i see some people from time to time telling that block size is going to be increased to 2 mb per block, will there be a hard fork for that then? If yes then what should i do with the bitcoins i have? i have like 1.3 btc and i dont want to lose it if the hf happens

A hard fork will not destroy your coins, that's for sure. Keep safe your private key and your coins will be safe.
I've read recently that a hard fork will eventually happen. And if it's prepared well enough it may not even have big impact on the price.

BTW, I was away, what happened with BTC price?!
propofol99
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August 05, 2016, 07:44:39 AM
 #12

I do not expect any hard fork on btc.
It would only be good for the traders, but not for the community or the average user.
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