Hard Fork guide (if it will happen)

[Boseda]

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.

Good explanation. Thank you!

Anyway, I still haven't figured out a thing. What is we want both Core and Unlimited? Will there be another wallet for Unlimited too?

[Minor Miner]

I think we are taking something that is really complicated for the average investor to understand and making it insanely complicated.   Creating uncertainty and hurting bitcoin and the price because of that risk people are going to see.

Let me ask the OP this.    Why wouldn't you want to sell all your bitcoin now, or shortly before the fork, wait for the fork and buy back on the side that you believe will win.
In theory at the fork point, everyone's coins double (since you now have 100 on each chain instead of just 100 coins), so an efficient market would suggest the price will half on each branch from the unforked price.
Then the games will begin as different sides and market manipulators try to destroy the price on the opposing fork.    That is a disaster.

How do you foresee they going smoothly and not scaring away every new adoptor/investor who really does not understand bitcoin in the first place?

Please give me an idea of how you think the transition should go, Day 1, Day 30......Day of ONLY one branch left.

[hardtime]

I personally use both BitGo and BlockChain.info for my wallet purposes. Does anyone here have any news on being able to do all of this stuff while using BitGo as I do still have all the key information (that they give you, at least) in a folder somewhere and would like to make sure I'm protected during this time.

Wouldn't want to lose out on the hard earned money right around the time that I'm actually doing pretty well with Bitcoin and everything surrounding it. Or would it be best to just cash-out now or soon and just wait on a hard-fork to occur and see a good time to buy back in?

Kinda newb on info relating to the fork so I just want to make sure I'm as safe as can be (on a volatile coin like Bitcoin that is)

Thanks.

[Sadlife]

Or there will be dump of BTU coin for bitcoin to rise even more lol
Exchanges already said that they will BTU as an alt coin and now
with current happenings like another recent attack occured in BU nodes
I guess there will a dump and most likely BTU will fail if a hardfork happens. Well let's just wait and see.

[jimmy_007vn]

I have couple coins at Coinbase. So all i need to do is transfer my coins to the wallets list at first post right?

[Pettuh4]

I have couple coins at Coinbase. So all i need to do is transfer my coins to the wallets list at first post right?

Precisely, and do transfer them at once because coinbase sucks with 50cents per little transactions.

[bitart]

Or there will be dump of BTU coin for bitcoin to rise even more lol
Exchanges already said that they will BTU as an alt coin and now
with current happenings like another recent attack occured in BU nodes
I guess there will a dump and most likely BTU will fail if a hardfork happens. Well let's just wait and see.

It's OK to wait and see, but the problem is that the date and time of the fork is not known.
I'm searching the forum for weeks now, but I haven't found any particular thread about the timing of the fork.
I can have a look at nodes and can compare the charts of BU, Core, etc supporter nodes. but that say nothing about fork and timing.
As I understood, it's not neccessary to do any communication before the fork, because it's just a software update on nodes. So it's possible that you will have only information that the fork has happened (but in that case all the bitcoin news sites will list it immediately)

[Videodrome]

Thank you HostFat for this great and usefull guide.

[wuvdoll]

Or there will be dump of BTU coin for bitcoin to rise even more lol
Exchanges already said that they will BTU as an alt coin and now
with current happenings like another recent attack occured in BU nodes
I guess there will a dump and most likely BTU will fail if a hardfork happens. Well let's just wait and see.

It's OK to wait and see, but the problem is that the date and time of the fork is not known.
I'm searching the forum for weeks now, but I haven't found any particular thread about the timing of the fork.
I can have a look at nodes and can compare the charts of BU, Core, etc supporter nodes. but that say nothing about fork and timing.
As I understood, it's not neccessary to do any communication before the fork, because it's just a software update on nodes. So it's possible that you will have only information that the fork has happened (but in that case all the bitcoin news sites will list it immediately)

There is no one out there can foretell you on when the next fork will be, even if they claim to know they are full of it because they have no influence over anything, the only thing we know for sure is there will be a fork maybe not tomorrow maybe not the next week or the next month but it will eventually happen so the best thing to do is save until it happens.