Upcoming Bitcoin Hardfork - Wallet Usage for new Coin

[hairballin]

[Very new user trying to understand more of the system]

Bitcoin is supposed to have a split sometime in November for the segwit2x system. To my understanding, this creates a new coin, like BCH.

Where does this new coin go? What happens to Bitcoins that are held in a wallet vs. Bitcoins that are held in an exchange (like bittrex)?

Any and all information is greatly appreciated! Thanks!

[1714852675]

1714852675

[Nathan047]

This will create another altcoin, just like the last fork. The coins will be cloned because the blockchain will also be copied, but unless there is replay protection on one of the sides you will spend on both chains whenever you complete a transaction.

Exchanges should give you your portion of both the fork and your BTC and I expect most all of them to do so, but ultimately it’s up to the exchange itself to give them to you or not. During forks it’s best to have your BTC in a wallet that you control (make sure you have the private keys or you don’t truly own your BTC).

[alva5763]

At the last split the exchanges gave holders the new coins,even if they were being lent on the exchange. Best to keep up to date with any exchange you use for news.

[susila_bai]

Yes it is true that their is one more hardfork and we will get one more altcoin like BCH, and the story will be same that of old bitcoin fork and we can enjoy another free bitcoins earning.