avikz (OP)
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July 28, 2017, 04:15:49 PM |
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Hi All,
I mostly use my hardware wallet to save most of my bitcoins where I have access to my private key.
However, I also keep a good amount of bitcoin in my online BlockChain wallet for quick trading transfers.
my question is, do I need to worry about my bitcoins I hold in my online wallet? Will it be safe? What can be the consequence of of August 1st network split on my bitcoins?
Can anyone please give me an answer?
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Xenrise
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July 28, 2017, 04:49:09 PM |
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I really don't know for sure bro. But I kept on hearing stories about the bittrex that they will give bcc or bitcoin cash to bitcoin hodlers. The ratio of it is 1 is to 1. 1:1. If you have 1 bitcoin then you will receive 1 BCC FOR fREe. Well for me I think that btc are not safe in other online wallets specially when you dont have the priv key.
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OmegaStarScream
Staff
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July 28, 2017, 04:53:27 PM |
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I'd switch to something like Electrum personally but your funds should be fine. Blockchain.info definitely have their technical issues from time to time but since you control your private keys, you should be fine. You can use BCC by importing the PK to a wallet that supports BitcoinCash.
If the hardware wallet you are using is Trezor then I suggest sending everything there, they will be supporting BCC and you will have control without the struggle of exporting and importing etc.
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mobnepal
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July 28, 2017, 05:35:54 PM |
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You should move whatever you have in online wallets like blockchain.info to your hardware or paper wallet because you may not get BCC or any other coin after network split for your bitcoin in those online wallets. Also web wallets are not safe and can be compromised.
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fullypak
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July 28, 2017, 05:43:36 PM |
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I really don't know for sure bro. But I kept on hearing stories about the bittrex that they will give bcc or bitcoin cash to bitcoin hodlers. The ratio of it is 1 is to 1. 1:1. If you have 1 bitcoin then you will receive 1 BCC FOR fREe. Well for me I think that btc are not safe in other online wallets specially when you dont have the priv key.
I too heard this story. I have few questions in my mind. Now the Bitcoin price $2800 after splitting Bitcoin into 2 coins they will give the same amount of BCC as free this is ok. but what about the price of the leading Bitcoin it will drop, or it will remain same? If it drops means, then there is no use to wait. We can sell now only and convert it into fiat currency this is profitable am I right. |
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ReLieD
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July 28, 2017, 05:49:53 PM |
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Hi All,
I mostly use my hardware wallet to save most of my bitcoins where I have access to my private key.
However, I also keep a good amount of bitcoin in my online BlockChain wallet for quick trading transfers.
my question is, do I need to worry about my bitcoins I hold in my online wallet? Will it be safe? What can be the consequence of of August 1st network split on my bitcoins?
Can anyone please give me an answer?
I don't know exactly about the security of you Bitcoins since as I have heard keeping your Bitcoins in an online wallets is never recommended. It's much better if you keep them in some offline wallet like electrum or mycelium. Since blockchain.info will have a lot of load after 1st august and also it has many bugs in that wallet. So I would recommend you to switch to an offline wallets |
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squatz1
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Flying Hellfish is a Commie
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July 28, 2017, 11:19:41 PM |
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Yep, you and everyone else is going to have to be worried if you're still holding on that date. If you want to continue to hold your bitcoins, I'd move to a wallet which you have full control of -- one of these options could be a paper wallet, or really any wallet in which you and only you have the private keys to it.
I know the exchange which I use, Coinbase, is not going to be supporting Bitcoin Cash in the least -- so if you want to access Bitcoin Cash, you'd have to steer clear of them. There is going to be disruptions in the price, problems with the network more than usual, and so on, but the only thing you're going to have to do if you want to avoid all of this is to sell it.
So, you do have a decision to make OP (Roll the dice here, or simply sit back)
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BitMaxz
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Block halving is coming.
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July 28, 2017, 11:25:34 PM |
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Yep, you and everyone else is going to have to be worried if you're still holding on that date. If you want to continue to hold your bitcoins, I'd move to a wallet which you have full control of -- one of these options could be a paper wallet, or really any wallet in which you and only you have the private keys to it.
I know the exchange which I use, Coinbase, is not going to be supporting Bitcoin Cash in the least -- so if you want to access Bitcoin Cash, you'd have to steer clear of them. There is going to be disruptions in the price, problems with the network more than usual, and so on, but the only thing you're going to have to do if you want to avoid all of this is to sell it.
So, you do have a decision to make OP (Roll the dice here, or simply sit back)
Its should be need to move your funds into safety place since admin of this forum giving us already about warning that we can see above as news. Because there are possibility our funds will gone so to be safe of our investment and bitcoin we should transfer our funds in the safety place or wallet.. The best for me right now is paper wallet or just i keep the private keys and the notes.. Or transfer it into electrum keeping our bitcoin in web wallet are also not safe and exchange site so better to move coins before august 1.. |
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lausam
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July 28, 2017, 11:42:54 PM |
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You should move your BTC from your online address eg to a large market like bittrex or viabtc that gives BCC. There you will get a free bcc as long as your BTC is stored there.
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Sniper150
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July 28, 2017, 11:49:45 PM |
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Hi All,
I mostly use my hardware wallet to save most of my bitcoins where I have access to my private key.
However, I also keep a good amount of bitcoin in my online BlockChain wallet for quick trading transfers.
my question is, do I need to worry about my bitcoins I hold in my online wallet? Will it be safe? What can be the consequence of August 1st network split on my bitcoins?
Can anyone please give me an answer?
It's ok for you to use that hardware wallet and I hope I could also buy that kind of wallet so that my bitcoin is less in risk and not prone to hack. However, we are not really sure that the predictions on August 1 will happen. The only thing that I suggest for you is that just keep all your bitcoin in your hardware wallet and just wait until August 1 pass over then if you think that nothing happened on the said date, continue to store your bitcoin in an online wallet but, I suggest that when you are going to place your bitcoin in an online wallet, just put a half of it because you are not totally sure that online wallet is safe. |
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Mpamaegbu
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Once a man, twice a child!
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July 29, 2017, 06:57:54 AM |
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Hi All,
I mostly use my hardware wallet to save most of my bitcoins where I have access to my private key.
However, I also keep a good amount of bitcoin in my online BlockChain wallet for quick trading transfers.
my question is, do I need to worry about my bitcoins I hold in my online wallet? Will it be safe? What can be the consequence of of August 1st network split on my bitcoins?
Can anyone please give me an answer?
I guess you know the answer to the question you asked because you asked only about the safety of the online wallet, not the hardware wallet. Meaning you suspect something could go wrong with your web wallet. As a Hero Member, you obviously have been here a long time and expectedly should be advising us. Anyway, let me tell you want I did: I moved my coins from an exchange to an Electrum wallet and then exchanged a few of my Bitcoin to altcoins of interest instead of selling off in panic. Don't sell off. Get them exchanged for altcoins! |
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savioroshan
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July 29, 2017, 07:32:11 AM |
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Even I don't know what will happen qwith my bitcoins. All my coins are in online exchange wallets. I got message from my exchange that my coins will be safe . But I am in a very confused state. I also saw thymos message to transfer coins from online wallet to some other wallet. Earlier I was using multibit wallet. But I lost some coins because it had some bugs. So i stopped using such wallets. Can somebody suggest me a good offline wallet? Thanks
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jossiel
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July 29, 2017, 07:50:49 AM |
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my question is, do I need to worry about my bitcoins I hold in my online wallet? Will it be safe? What can be the consequence of of August 1st network split on my bitcoins?
Can anyone please give me an answer?
Yes you and I will worry for our bitcoins that are in online wallets so why not just merge your funds there into your hardware wallet? The only consequence that you will get if you will remain your bitcoins at online wallet, it's either you won't be getting BCC. The best thing to do is to put them altogether in hardware wallet. |
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Aur3
Sr. Member
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Merit: 250
Embrace change
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July 29, 2017, 09:15:59 AM |
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Yep, you and everyone else is going to have to be worried if you're still holding on that date. If you want to continue to hold your bitcoins, I'd move to a wallet which you have full control of -- one of these options could be a paper wallet, or really any wallet in which you and only you have the private keys to it.
I know the exchange which I use, Coinbase, is not going to be supporting Bitcoin Cash in the least -- so if you want to access Bitcoin Cash, you'd have to steer clear of them. There is going to be disruptions in the price, problems with the network more than usual, and so on, but the only thing you're going to have to do if you want to avoid all of this is to sell it.
So, you do have a decision to make OP (Roll the dice here, or simply sit back)
This makes a lot of sense. Thank you. |
Let's make a change. Change makes you better. Change makes you smarter. Change makes you healthier.
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Mpamaegbu
Legendary
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Merit: 1208
Once a man, twice a child!
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July 31, 2017, 04:05:14 AM |
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Even I don't know what will happen qwith my bitcoins. All my coins are in online exchange wallets. I got message from my exchange that my coins will be safe . But I am in a very confused state. I also saw thymos message to transfer coins from online wallet to some other wallet. Earlier I was using multibit wallet. But I lost some coins because it had some bugs. So i stopped using such wallets. Can somebody suggest me a good offline wallet? Thanks
You may want to get either Mycelium, Armory or Electrum wallet. I read they are very reliable and secured. |
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hajimasan
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July 31, 2017, 04:30:16 AM |
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Hi All,
I mostly use my hardware wallet to save most of my bitcoins where I have access to my private key.
However, I also keep a good amount of bitcoin in my online BlockChain wallet for quick trading transfers.
my question is, do I need to worry about my bitcoins I hold in my online wallet? Will it be safe? What can be the consequence of of August 1st network split on my bitcoins?
Can anyone please give me an answer?
Yes , ofcourse you need to worry . And even if you hold much amount of the bitcoin in your blockchain wallet then it would be more better for you to withdraw and out the wallet where your private key are safe , because I have not yet heard about the blockchain to get split support ( in this forum ) . And in case of the exchange wallet , then I don't think that there is anything to take tension because most of the exchange already announced that they are ready for fork and any type of spliting . So I think these types of the statement by the exchange are directly saying that we will give coins ( BCC or anything if happened) . So just make yourself tension free for those bitcoin that you have in exchange and in private key accessible wallets . But be careful for the blockchain direct wallet because I didn't found any information about it , since it is official but here it would be better for you to get BCC like coins for the future . |
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Smarty14392
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July 31, 2017, 04:38:09 AM |
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Even i had the same question few days before. Bitcoin will split after the hard fork. I too had some amount in my blockchain but i moved it to my hardware wallet for safety. Yet i dont actually know what should i do to my coins. And if we get 1 BCC for our 1 BTC then we will have a huge loss i guess coz the price for BCC is not as high as BTC.
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BitcoinNewsMagazine
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July 31, 2017, 04:48:19 AM |
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Hi All,
I mostly use my hardware wallet to save most of my bitcoins where I have access to my private key.
However, I also keep a good amount of bitcoin in my online BlockChain wallet for quick trading transfers.
my question is, do I need to worry about my bitcoins I hold in my online wallet? Will it be safe? What can be the consequence of of August 1st network split on my bitcoins?
Can anyone please give me an answer?
If you are using a Trezor or Ledger Nano S move your bitcoin from Blockchain to your hardware wallet. Both those manufacturers have stated they will have a splitting tool so you can claim your BCC. But you need to move the bitcoin now before the hard fork. Keep up to date by browsing the Trezor and Ledger Wallet subs on reddit. |
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malikusama
Copper Member
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July 31, 2017, 04:49:29 AM |
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There is a risk in online wallets as we all know it, but if you have private keys of your wallet then it is quite acceptable. The problem is splitting on august 1 so it is better to transfer all your funds from online wallets to offline wallets.
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