Will My Bitcoins be Safe During Bitcoin Gold Hardfork and November's Hardfork?

[blockchainproject.id]

Rookie question folks,but I'm sure a lot of us wants to know the answer.

So, we all know next two month we are going to have 2 more hardforks in 25th october and another 'New York' hardfork somewhere in November. There are good news and bad news.
The good news is, most likely bitcoin holders will get free coins.
But the bad news is that there are articles like this https://cointelegraph.com/news/november-segwit2x-hard-fork-could-see-newbie-users-lose-bitcoins
saying that we might lose bitcoin.

Well for that, techies and bitcoin experts in the forum, please do share your take on this issue to clarify once and for all for us laypersons.

Will our bitcoin safe during these hardforks? (I'm personally using bittrex to hold my bitcoin)

[1715579186]

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[1715579186]

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[xskl0]

If you have your coins on Bittrex you don't own your bitcoins. You need the private keys of your wallet or your "seed" to be able to receive the hardfork new coins. However Bittrex a few days later of the fork will probably send the equal amount in the new coins to you. If you want to be sure that you will receive your new coins the easiest way is create a blockchain.info wallet, transfer your bitcoins there and use the "seed"(12 word's phrase) to manually acces to your new coins.

I have a related question: if I'm using a Ledger nano s to store my bitcoins I need to store them on "Legacy" , "Segwit" or any of both?

thanks

[blockchainproject.id]

Thanks for the info, but learning from the previous bitcoin cash hardfork, it seems bittrex user got their coins on time, so I'm sure I'll get it too this time. The question still open tho.

[athanz88]

Can someone here that is pro at bitcoin explain what is hardfork? im so lost.
Any explanation or link to explain what hardfork is appreciated.
Thanks in advance guys.

[Etoasiatsxxx]

We do not know what will happen. It may be lost, The safest thing to do is put it in a wallet that we only know of private keys. That way no one will have access to it

[HabBear]

Can someone here that is pro at bitcoin explain what is hardfork? im so lost.
Any explanation or link to explain what hardfork is appreciated.
Thanks in advance guys.

Here you go, a Short Guide to Bitcoin Hardforks.

The overview is that there has been an ongoing debate (argument) among developers of how Bitcoin should scale (or if it should scale) to accommodate greater transaction volume and greater transaction sizes. There have been multiple proposals. The only way for a new proposal to become active is for the developers to coordinate a date and time at which miners and node operators who agree with the changes to the code to decide to point their mining and transaction confirming activity to the new code, essentially a new blockchain.

To ensure that people who own Bitcoin have the option to adopt the new version of the coin they will give you coins in the new version of the coins equal to the amount of Bitcoin you own at the time of the hard fork. One important stipulation is that if you don't own your private keys to your coins you can't guarantee you'll have access to the new currency. Some exchanges are offering to provide their users the new coins, but not all.

Exchanges that honored payment of Bitcoin Cash during the August 1 hard fork were Bittrex, Freebitco.in, and very few others. Coinbase, for example, was not going to offer the new coins but decided to after public outcry after the fork.

[BitcoinNewsMagazine]

Rookie question folks,but I'm sure a lot of us wants to know the answer.

So, we all know next two month we are going to have 2 more hardforks in 25th october and another 'New York' hardfork somewhere in November. There are good news and bad news.
The good news is, most likely bitcoin holders will get free coins.
But the bad news is that there are articles like this https://cointelegraph.com/news/november-segwit2x-hard-fork-could-see-newbie-users-lose-bitcoins
saying that we might lose bitcoin.

Well for that, techies and bitcoin experts in the forum, please do share your take on this issue to clarify once and for all for us laypersons.

Will our bitcoin safe during these hardforks? (I'm personally using bittrex to hold my bitcoin)

Use a Trezor or Nano S hardware wallet. Both companies supported the BCH hard fork gracefully, so should handle November the same. @xskl0 until November hard fork is over I personally use the legacy accounts on my hardware wallets. There is no rush to move coins in cold storage to SegWit addresses.

[SvenBomvolen]

That's the first time I hear about the fork on October. Do the miners really voted for it or it is just anew gossip?
Anyway I agree that paper wallet would be the safest place to hold coins for everybody on the period of the fork. I think we need expect new fall of the price due to new game of speculators around the fork. But as many of us I wish to get some more free coins normally

[WildWestRider]

Can someone here that is pro at bitcoin explain what is hardfork? im so lost.
Any explanation or link to explain what hardfork is appreciated.
Thanks in advance guys.

Here you go, a Short Guide to Bitcoin Hardforks.

The overview is that there has been an ongoing debate (argument) among developers of how Bitcoin should scale (or if it should scale) to accommodate greater transaction volume and greater transaction sizes. There have been multiple proposals. The only way for a new proposal to become active is for the developers to coordinate a date and time at which miners and node operators who agree with the changes to the code to decide to point their mining and transaction confirming activity to the new code, essentially a new blockchain.

To ensure that people who own Bitcoin have the option to adopt the new version of the coin they will give you coins in the new version of the coins equal to the amount of Bitcoin you own at the time of the hard fork. One important stipulation is that if you don't own your private keys to your coins you can't guarantee you'll have access to the new currency. Some exchanges are offering to provide their users the new coins, but not all.

Exchanges that honored payment of Bitcoin Cash during the August 1 hard fork were Bittrex, Freebitco.in, and very few others. Coinbase, for example, was not going to offer the new coins but decided to after public outcry after the fork.

If my bitcoin is in Coinbase, I understand that I may not get equal amounts in the new Bitcoin Gold (and they haven't paid out their promised Bitcoin Cash yet).  But is my original bitcoin safe in Coinbase during a hard fork?

[BittBurger]

Its as safe as any other Bitcoin in Coinbase, but I don't see any reason to keep it in there during the fork and miss out on free money.  Make a paper wallet with bitaddress.org and you can re-import the BTC and throw it onto Coinbase with breadwallet iOS app after the fork(s).

-B-

[pooya87]

~
But the bad news is that there are articles like this https://cointelegraph.com/news/november-segwit2x-hard-fork-could-see-newbie-users-lose-bitcoins
saying that we might lose bitcoin.

Well for that, techies and bitcoin experts in the forum, please do share your take on this issue to clarify once and for all for us laypersons.

Will our bitcoin safe during these hardforks? (I'm personally using bittrex to hold my bitcoin)

your "bitcoin" is always safe.
what these articles point out is "replay protection". which means if the forks don't have it, when you spend on one chain, the coins on the other chain will also be spent because without replay protection the same transaction is valid on all chains.

right now S2X does not have it. but nothing says it can't change before the fork. and even if they don't add it, you will just have to take a simple but additional step to split your coins.

[Jaya912]

Good news for us as a bitcoin holder. If hardfork happen i think it will be good for bitcoiner since they will get their free coin without losing bitcoin. I dont know that bittrex gives the free coins to customers or not, so i suggest to use wallet on blockchain.info or maybe other wallet that you have/keep your own key/seed.

[jems]

I'm not worried about hardfork, and I keep BTC in my wallet. hopefully like BCC and I get Bitcoin gold for free. 

[JohnBitCo]

Rookie question folks,but I'm sure a lot of us wants to know the answer.

So, we all know next two month we are going to have 2 more hardforks in 25th october and another 'New York' hardfork somewhere in November. There are good news and bad news.
The good news is, most likely bitcoin holders will get free coins.
But the bad news is that there are articles like this https://cointelegraph.com/news/november-segwit2x-hard-fork-could-see-newbie-users-lose-bitcoins
saying that we might lose bitcoin.

Well for that, techies and bitcoin experts in the forum, please do share your take on this issue to clarify once and for all for us laypersons.

Will our bitcoin safe during these hardforks? (I'm personally using bittrex to hold my bitcoin)

Have you ever tried Treezor or Nano wallet ?. They're hardware wallet and it can helps you to handle. Both are Hard fork supported.I my self use these hardware wallet. Its easy to move coins from cold storage to segwit. Anyways nothing wrong happen in a fork two months before and i have no fear now in the November fork.      

[iram1011]

Whatever wallet or exchange you are using. Stay in touch with company's announcements. Almost every exchange or wallet providers take proper measures and inform the users about the possible scenario of whether they'll be supporting the new coin or not and whether you should keep you bitcoin there or not. Just stay on popular exchanges or wallet.

[The Sceptical Chymist]

It's not a rookie question, it's a good one. 

More worthless hardforking?  More worthless coins? Bleh!  Count me out.  I haven't even claimed my BCH yet and I might not ever do so.

Your real bitcoins should be safe, but listen to the experts when they answer this.  I am not a bitcoin expert by any means, but I know how the last fork went.  Good luck and stay true to BTC.  Accept no substitutes.

[AtheistAKASaneBrain]

This guide is better than the ones posted thus far in my opinion:

https://bitcoinmagazine.com/articles/beginners-guide-surviving-coin-split/

This one was in the times of Bitcoin Unlimited, but it should be still applicable to other scamforks. Remember that as long as you control your private keys, you are safe. But also remember that when it comes to transactions, unless you run a full node, you don't know what you are receiving. For example if you got coins in blockchain.info, you are on their mercy since they decide what Bitcoin is for them. If they list 2xCoin as BTC, then they are scamming you by listing an altcoin (2xCoin) as real Bitcoin (BTC).

So ultimately, the best and only solution is what ever bitcoiner should have done since day 1: run your own damn full node, is not that difficult. So head over www.bitcoin.org right now and start being free from all the retardation today with your full validating node.

[tokenZ]

It's not a rookie question, it's a good one.  

More worthless hardforking?  More worthless coins? Bleh!  Count me out.  I haven't even claimed my BCH yet and I might not ever do so.

Your real bitcoins should be safe, but listen to the experts when they answer this.  I am not a bitcoin expert by any means, but I know how the last fork went.  Good luck and stay true to BTC.  Accept no substitutes.

t


""More worthless coins? Bleh!  Count me out.  I haven't even claimed my BCH yet and I might not ever do so.""

Ahem - small fact I guess you may not have realized - they are the worth quite a bit more than the fiat dollar (or equivalent) that you live off of - by literal definition.

So tell us...what's it like? Having so much money you can get away with putting emotional logic over reality?

I'm envious.

(I'll be taking the free money)

[RodneyKings]

I've been wanting to know this too so thank you for starting this thread. We can't really predict what will happen so I do hope that the next hardfork wil be the same as the first one.

[smartbitcoininvestor]

As long as you own your BTC private keys, meaning a.k.a you aren't storing your Bitcoins on an exchange, you will receive your Bitcoin Gold by keeping your Bitcoins in a secure wallet for the duration of the hard fork. Any hardware wallet or app-based wallet should be good. Even a site like FreeBitco.in will pay out Bitcoin Gold. Make sure to do your research before ultimately making a decision.

Details on the upcoming hard fork:

Bitcoin Gold (BTG)

“Make Bitcoin Decentralized Again”

Forks: October 25th, 2017
Live to Exchanges: August 1st, 2017

Goals:
- Create a truly decentralized Bitcoin
- Proof Of Work: From SHA256 to Equihash, CPU mining vs GPU mining
- Make mining more accessible to all
- Make “big” miners less relevant

http://btcgpu.org
https://twitter.com/btcgpu
http://bitcoingold.org