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Author Topic: HardFork What to do  (Read 5351 times)
Trac3y
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July 14, 2017, 11:50:04 AM
 #1

When chain split and everybody get BTU what about Exchange address . ? Will your BTC lying there get BTU to, or will exchange get it and we rely to get it from them. Seems there is allot of wriggle room for loosing BTC while both chains so similar "For the Anonymous Hacker that always slip away with funds"

Is it better to have BTC off site and not send while and after for a time to be safe,while two branches similar allot can go wrong in transactions i guess.
 
Its sad that BTC market can be so taken over. Not that the confused market will regain trust soon and in what coin the confusion and distrust will set us back years if not open another coin as KING.Just a coin monopolized by the rich . I understand the view of miners and the mining EQ supply buissines is huge so Hard Fork will have more support i suppose but the faith in it i dont know .


Sorry i just saw this https://bitcointalk.org/index.php?topic=2017191.0
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steamon
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July 14, 2017, 02:17:54 PM
 #2

Just store the Bitcoins in a wallet with access to private keys or cold storage. That way if a Hard Fork happens you have Bitcoin A and Bitcoin B at the same time. Further, nothing to worry.
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July 14, 2017, 02:50:52 PM
 #3

Just store the Bitcoins in a wallet with access to private keys or cold storage. That way if a Hard Fork happens you have Bitcoin A and Bitcoin B at the same time. Further, nothing to worry.

It is true that holding the bitcoins in the desktop wallet whose private keys are with you and just dont use the wallet for any type of transaction before 24 to 48 hours of August 1st and even after that day get full details and then use the wallet. I am better going to sell my all bitcoins to fiat currency and wait for that day because i am seeing that the fate of bitcoin will be more likely of ETH faced where it went 10 times down after hard fork, ya it is true that after that it went more up also but it took time and so many of them bought back in low are enjoying this high price.
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July 15, 2017, 12:10:31 PM
 #4

Rule of thumb is - make sure you're using a wallet that gives you access to your private keys.

I'd recommend either a Trezor or Ledger for a hardware wallet, or even a desktop wallet like Exodus. You'll be very safe that way. After the fork you can then decide what to do from there.

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July 15, 2017, 01:18:06 PM
 #5

Just store the Bitcoins in a wallet with access to private keys or cold storage. That way if a Hard Fork happens you have Bitcoin A and Bitcoin B at the same time. Further, nothing to worry.

It is true that holding the bitcoins in the desktop wallet whose private keys are with you and just dont use the wallet for any type of transaction before 24 to 48 hours of August 1st and even after that day get full details and then use the wallet. I am better going to sell my all bitcoins to fiat currency and wait for that day because i am seeing that the fate of bitcoin will be more likely of ETH faced where it went 10 times down after hard fork, ya it is true that after that it went more up also but it took time and so many of them bought back in low are enjoying this high price.
Splitting of chain is the worst case scenario. Nobody wants that and every possible thing is being done to avoid it. Segwit2x will certainly prevent it if gets activated before UASF. But preparing for worst case scenario is not bad. What I suggest you is don't convert all your bitcoin to fiat. Instead invest in any top 5 Altcoin as they are likely to appreciate as people will be shifting to them. If you aren't sure about trading then convert you BTC to USDT. Thus, your money will be available to you instantly(buying bitcoin or any Altcoin in future) and without any depreciation in price.
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July 15, 2017, 03:40:42 PM
 #6

Splitting of chain is the worst case scenario. Nobody wants that and every possible thing is being done to avoid it. Segwit2x will certainly prevent it if gets activated before UASF. But preparing for worst case scenario is not bad. What I suggest you is don't convert all your bitcoin to fiat. Instead invest in any top 5 Altcoin as they are likely to appreciate as people will be shifting to them. If you aren't sure about trading then convert you BTC to USDT. Thus, your money will be available to you instantly(buying bitcoin or any Altcoin in future) and without any depreciation in price.
This is a good suggestion, that for the time being we can move btc to Alt coin.
Although Splitting is a bad scenario, but this what we facing thru in next month.


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vincentvincent
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July 15, 2017, 05:58:23 PM
 #7

beware for big price jumps. could be down or... up. you don't want to miss the boat when btc starts skyrocketing
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July 15, 2017, 07:26:26 PM
 #8

We can all only guess, but if you want to HODL you need to make sure to use a wallet which allows you to control your private key.
Another option is obviously to trade BTC for alt coins or to sell and rebuy later.

I would propose not to buy right now, as we still have a bit of time ahead of us with uncertainty and panic sales - guessing the prices will lower a bit. I will probably buy back somewhere late August as I am currently guessing that the hard fork will not be a big issue (with Segwit2x seemingly having around 90% of support and therefore we might only see a 10% split in value towards the alt bitcoin version). Once people realize that, everybody who pulled out will want to buy their BTC back.. and then we might see a massive and fast pump back to June regions.
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July 16, 2017, 05:29:53 PM
 #9

Hodl -> Hardfork -> 2 different Bitcoins -> Profit.
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July 16, 2017, 05:54:25 PM
 #10

Why not 3 or even 4 Chains? Even more Profit?
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July 16, 2017, 06:33:09 PM
 #11

Too many different ideas. I decided to follow one of the developers ideas which is a great member of this forum too "achow1" which says transfer all your coins to bitcoin core wallet and wait what will happen. I have a really considerable amount of bitcoins which I am moving from my hardware wallet to bitcoin core as soon as it will be synchronized. I don't want to lose anything so I am following a bitcoin core developer idea. I hope I will be right.

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July 17, 2017, 11:05:25 PM
 #12

Rule of thumb is - make sure you're using a wallet that gives you access to your private keys.

I'd recommend either a Trezor or Ledger for a hardware wallet, or even a desktop wallet like Exodus. You'll be very safe that way. After the fork you can then decide what to do from there.

Seems like good advice to me.

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July 18, 2017, 02:49:32 AM
 #13

Too many different ideas. I decided to follow one of the developers ideas which is a great member of this forum too "achow1" which says transfer all your coins to bitcoin core wallet and wait what will happen. I have a really considerable amount of bitcoins which I am moving from my hardware wallet to bitcoin core as soon as it will be synchronized. I don't want to lose anything so I am following a bitcoin core developer idea. I hope I will be right.
I'm pretty sure you'll find that achow NEVER explicitly suggested that your move all your coins to bitcoin core wallet... and probably never suggested that you move coins OUT of a hardware wallet! Shocked Shocked

The general consensus on the best course of action is to make sure that your coins are in a wallet that gives you access to your private keys. Control and Access to the private keys is the important thing. If your wallet lets you have access to the private keys, you can do whatever you need to do with your coins if/when a fork happens.  Read here: https://bitcointalk.org/index.php?topic=2017191.0 and here: https://bitcointalk.org/index.php?topic=2012799.0

Not sure what hardware wallet you're using... but I'd be fairly confident it will allow you access to your private keys and is probably a more secure storage solution than an internet connected PC.

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July 18, 2017, 05:44:16 AM
 #14

The whole Bitcoin community is now full of so many news, ideas, opinions and anything in between related to the possible soft or hard fork. I am glad that am not anymore storing a significant amount of Bitcoin as I used them in the past few weeks for some nice ICOs.

Well, for now, nobody can really assure whether there would be a fork and if there is whether it can be soft or hard. There is no single authority on Bitcoin which is always opening doors for speculations and FUD running amok.

After August 1 and when the dust already settled, it would be nice to revisit all the lessons we should learned on this necessary mess.
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July 18, 2017, 05:54:53 AM
 #15

Keep the suckers offline my friend.
You don't own your crypto if you don't detain the private keys.
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July 18, 2017, 07:11:21 AM
 #16

I would try to store all my bitcoins in a hardware wallet with the private key being next to you. Or alternately, you could, as mentioned before, invest in any top 5 altcoin as their prices go up due to demand and then later rebuy when the all-clear has been given in the following hours after August 1. Or you could even go the distance to sell all your coins at the last possible time and then re-buy at the earliest time you can. This ensures that you get the best possible price when you get back aftermath Segwit2x
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July 19, 2017, 10:38:47 AM
 #17

For security and fear of change you can change your BTC to USDT or fiat money memontarily for security or safety purposes . You can always return if changes are finished.

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July 21, 2017, 03:59:18 AM
 #18

LOL what we can do? We only can wait & watch...nothing is in our hands.Dont worry

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July 21, 2017, 08:40:43 AM
 #19

All you need to do is to store your BTC in a hard wallet that u can acces the private keys.  don't use Coinsbase,Xapo, or any Bitcoin wallet that you cannot access your private keys. This is may result of losing your btc. Or Simply sell your Bitcoins now (2800$) price
into fiat and buy back again after segwit. I think this is like Ether price drop 40% quickly recover.


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July 21, 2017, 01:22:23 PM
 #20

All you need to do is to store your BTC in a hard wallet that u can acces the private keys.  don't use Coinsbase,Xapo, or any Bitcoin wallet that you cannot access your private keys. This is may result of losing your btc. Or Simply sell your Bitcoins now (2800$) price
into fiat and buy back again after segwit. I think this is like Ether price drop 40% quickly recover.

Yap and i think this is just a common style for the upcoming hardfork. We may never know whats gonna happen as it may be just be another beta for the real thing thats gonna happen. A lot may say that he price might become unpredictable and that can be true this will just be another milestone for a new change in the btc.
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