Hard Fork guide (if it will happen)

[zend7]

So now I have a natural question after reading the guide in the first post of this thread. I cannot export my private keys as I have them in my hardware wallet which doesn't allow such thing. What will happen with me, how can I be able to use both blockchains if this split happens? Thanks in advance for your answer.

Can you say which is your hardware wallet? How does it work?

If you hardware wallet is connecting to only a server of the company where you bought it, then I don't think that it is very secure.
Anyway, you will have the coins only on the chain chosen by the company. (or, they will have somehow to give you access to the token even on the other chain)

It's the Ledger HW.1. I think it is secure as I am holding 5 bitcoins there since a long time (last August) and nothing bad happened.
Hopefully the company will give me access if such scenario happens.

[HostFat]

It's the Ledger HW.1. I think it is secure as I am holding 5 bitcoins there since a long time (last August) and nothing bad happened.
Hopefully the company will give me access if such scenario happens.

From the website:
https://www.ledgerwallet.com/products/ledger-hw-1

BACKUP & RESTORATION

In case of loss, you can restore it on any Ledger Wallet (Nano or another one) or all other compatible solutions (BIP 39).

It seems possible, do you have something like a passphrase?

If "yes", you should be able to retrieve the private keys from this:
https://github.com/iancoleman/bip39

(you should do this only in a complete clear/formatted computer and a secure live linux distribution)

[cjmoles]

Okay, it was said that if a fork was to occur, it would be announced ahead of time.  But, isn't that a "planned" fork?  Doesn't that require a bit of speculation....and a consented protocol change?  I mean, if a majority of miners chose the same specific client in unison, wouldn't that result in an immediate fork?  How does this event relate: https://bitcoin.org/en/alert/2013-03-11-chain-fork ?

[zend7]

It's the Ledger HW.1. I think it is secure as I am holding 5 bitcoins there since a long time (last August) and nothing bad happened.
Hopefully the company will give me access if such scenario happens.

From the website:
https://www.ledgerwallet.com/products/ledger-hw-1

BACKUP & RESTORATION

In case of loss, you can restore it on any Ledger Wallet (Nano or another one) or all other compatible solutions (BIP 39).

It seems possible, do you have something like a passphrase?

If "yes", you should be able to retrieve the private keys from this:
https://github.com/iancoleman/bip39

(you should do this only in a complete clear/formatted computer and a secure live linux distribution)

Yes you are correct , Electrum can help me with that at that moment. I have the seed with 24 words. I can import the seed in Electrum. Thanks a lot, now I am not worried if the hard fork happens.

[687_2]

Get yourself some dust from a block mined on one of the chains.

Do you think it would be better to use fiat to buy a small amount on an exchange, or is it better to have a miner running that can mine some dust in a more reliable and timely manner? If so, which miner would you recommend (e.g. 21co)?

Combine that dust with your existing coins by sending a transaction to another address that you control. Since those coin base rewards don't exist on the other chain, this transaction will only be valid on one chain.

Let's imagine I have a cold wallet with a stash of 3 XBT. I assume I can import these private keys into *both* BU and Core wallets at the same time. On each client, I should see a balance of 3 XBT.

Now I start to work with the BU CLI: I need to craft a raw transaction with 2 or more inputs, and 2 or more outputs that go back to my own BU wallet. Is that right?

After that, send your coins on the other chain to a new address that you control (extra measure just to be sure). At this point, your coins will be effectively disassociated between the two existing chains.

So now I open up my Core wallet, get a new receiving address, and then use my BU wallet to send my entire BU balance to my Core wallet. After no less than 1 confirmation, I see my Core balance is now 6 XBT, and my BU wallet is 0 XBT. Correct?

 

[687_2]

Most probably, the safest method is to use an exchange that lists both coins, and has provisions to do the split for you, that is, to send the "unified old coins" to an address attached to you on the exchange.  The exchange will then give you IOU of both types of coins.  You can trade those (for instance, selling off your bitcoinx and buy more bitcoin, or selling off bitcoin to get more bitcoinx).  When you will withdraw the coins, they will be 1 type only.

But be sure you use an exchange that knows how to handle this.  Most big exchanges learned this during the ETH/ETC split.  Some made big mistakes.  Some stole the ETC of their customers, pretending they didn't "list" ETC.

I agree that outsourcing the problem is *perhaps* the safest way to proceed. Which exchanges have a proven track record of doing this for ETC that you could recommend?

[dinofelis]

Most probably, the safest method is to use an exchange that lists both coins, and has provisions to do the split for you, that is, to send the "unified old coins" to an address attached to you on the exchange.  The exchange will then give you IOU of both types of coins.  You can trade those (for instance, selling off your bitcoinx and buy more bitcoin, or selling off bitcoin to get more bitcoinx).  When you will withdraw the coins, they will be 1 type only.

But be sure you use an exchange that knows how to handle this.  Most big exchanges learned this during the ETH/ETC split.  Some made big mistakes.  Some stole the ETC of their customers, pretending they didn't "list" ETC.

I agree that outsourcing the problem is *perhaps* the safest way to proceed. Which exchanges have a proven track record of doing this for ETC that you could recommend?

I split a few coins on Kraken without problems.   I don't invest in crypto, but I play with a few coins for fun.

[bitcointime1000]

Ok so to a newb here. If BU is accepted and I have my BTC on a Ledger wallet. Will I have a BTCU and a BTCC wallet? Will Ledger handle that or will I have to find my private keys?

FYI: http://support.ledgerwallet.com/knowledge_base/topics/what-about-bitcoin-xt-what-would-happen-in-case-of-a-fork?from_search=true

[AT-N-T101]

Most probably, the safest method is to use an exchange that lists both coins, and has provisions to do the split for you, that is, to send the "unified old coins" to an address attached to you on the exchange.  The exchange will then give you IOU of both types of coins.  You can trade those (for instance, selling off your bitcoinx and buy more bitcoin, or selling off bitcoin to get more bitcoinx).  When you will withdraw the coins, they will be 1 type only.

But be sure you use an exchange that knows how to handle this.  Most big exchanges learned this during the ETH/ETC split.  Some made big mistakes.  Some stole the ETC of their customers, pretending they didn't "list" ETC.

I agree that outsourcing the problem is *perhaps* the safest way to proceed. Which exchanges have a proven track record of doing this for ETC that you could recommend?

I split a few coins on Kraken without problems.   I don't invest in crypto, but I play with a few coins for fun.

Here you can make good money without investing, but playing gambling, I understand your hobby, it's not a good thing. I would be afraid to spend money, because you can cross the line.

[JanpriX]

Wow, thanks for bringing this up. I'm just reading about BU, SegWit and all those stuff and currently thinking what do I need to do when the hard fork actually happens? I have no idea what to do not until I read this thread. Thanks man for creating this one up. This will be very helpful in the future. I'm also glad that one of the desktop wallets that I'm currently using is listed in your post. This just gives me peace of mind that whatever happens, as long as my bitcoins are there in the said wallet, everything will be just fine.

[bitart]

UP because more relevant during those days

I'm just wondering...
First post was on 13 October 2016. UP was on 14th March 2017.
What has happened on 14th March 2017, which has made OP to UP this thread? What could be the reason that had not existed before that date?
Should we start to worry?

[dinofelis]

Here you can make good money without investing, but playing gambling, I understand your hobby, it's not a good thing. I would be afraid to spend money, because you can cross the line.

Uh, when I say "playing", I don't mean gambling at all !  I mean: playing with it like a kid, looking at the code, doing some transactions, looking at the block chain and all that.  I only need to buy a few coins for that.  Huh, no, I don't gamble at all.  I spend a few tens of dollars a month on crypto for fun.  That's all, unless I want to buy more to USE as a currency, but I bought more stuff in the past than recently.  I refuse to "invest".

[redsn0w]

Bump.

[BitcoinNewsMagazine]

Looks like Trezor has a contingency plan to add a BU back end if a fork happens and users will be able to transact either BTC or BTU from wallet.trezor.io

[bitart]

Looks like Trezor has a contingency plan to add a BU back end if a fork happens and users will be able to transact either BTC or BTU from wallet.trezor.io

Seems that it will be a only plan for a while... In the last days there were news about the failure of the BU, because of the replay problem.
Meanwhile, Trezor had a long outage in shipments (because their stocks has depleted) from the beginning of February till now (nearly 2 months). Most of the people, who wanted a hw wallet immediately, bought ledger, so trezor needs to start to marketing heavily to regain it's position.
Anyway, nice from Trezor, so we won't have any problem in case of hard fork

[seradj0]

since the fork seems gonna happen soon
want to confirm that electrum wallet is good for btc storage , after the fork we can get coins in both BTC and btu

[dinofelis]

since the fork seems gonna happen soon
want to confirm that electrum wallet is good for btc storage , after the fork we can get coins in both BTC and btu

Nothing will happen.  Be assured.  Bitcoin will remain what it is with 1MB blocks.  At $3,- or at $20 000,- per coin, I don't know.  But we are simply seeing immutability at work: people not agreeing over significant change.

[mrcash02]

I'm not understanding it very well. If I have 1 Bitcoin, after the Hard Fork will I have 1 Bitcoin + 1 Bitcoin-BU?

Do I need to do something or just wait? will Blockchain.info wallet support both currencies on the same account?

[simplymieke]

I've been reading this thread with a lot of interest.
Unfortunately I'm still a newbie (and English is not my native language) and I'm not sure I understand everything that is said.

I thought it would be best to explain my situation to find out what to do...

I've got a 3 BTC on my external Trezor device
I've got a bit more than 1 on Coinbase and a small amount of 'spending money' on Blockchain.info


So if I'm right it's best to move out of Coinbase.
But should I move my Trezor BTC too? How reliable is their 'backup' plan?

And where to move? I don't want everything stored in one place.
After reading this thread, my first reaction is to move everything to an Electrum wallet or Multibit, but I'm not really fond of desktop wallets - I don't really know how vulnerable my laptop is.

How about exchanging part of the BTC into another cryptocurrency?

I'm pretty confused here...
 

[687_2]

I've been reading this thread with a lot of interest.
Unfortunately I'm still a newbie (and English is not my native language) and I'm not sure I understand everything that is said.

I thought it would be best to explain my situation to find out what to do...

I've got a 3 BTC on my external Trezor device
I've got a bit more than 1 on Coinbase and a small amount of 'spending money' on Blockchain.info


So if I'm right it's best to move out of Coinbase.
But should I move my Trezor BTC too? How reliable is their 'backup' plan?

And where to move? I don't want everything stored in one place.
After reading this thread, my first reaction is to move everything to an Electrum wallet or Multibit, but I'm not really fond of desktop wallets - I don't really know how vulnerable my laptop is.

How about exchanging part of the BTC into another cryptocurrency?

I'm pretty confused here...
 

Here's what I have gathered to be the easiest and safest way to claim your new coins after the fork:

• Send the coins your have in your blockchain.info wallet and on your Coinbase account to your Trezor for safe storage
• Send the coins that are on your Trezor to an exchange that lists both BCC and BCU (dinofelis used Kraken)
• You will be able to sell the coins you don't want on the exchange
• Withdraw the coins from the exchange and send the coins to your Trezor

The other option is to do nothing, Bitcoin will continue to work as normal.