Bitcoin gold fork

[Qunenin]

Hello,
I am a relatively new investor in Bitcoin, and recently I have been reading about a fork to Bitcoin gold. My understanding is that everyone who owns Bitcoin receives the equivalent number of coins in the forked currency, once the fork takes place. Is this correct?

Do I have to store my Bitcoin in a specific wallet (I might be new, but I'm not stupid enough to send my coin to you ;-) ), or do anything to activate this, or will it happen automatically? (If the fork goes ahead, of course).

Thanks for any advice.

Same as the last "fork". New coins that are based on the original code are technically forks, but we have not used that terms for them. That method is closer to what Bitcoin Cash did and yet they called it a fork to make everyone that didn't get all the codes changes in Bitcoin done feel better. I dont see much changes to the original bitcoin.

[flickervn]

buy more btc and keep in your wallet until end of this month

[doedz]

buy more btc and keep in your wallet until end of this month

I am not sure for now, whether this is true will happen fork or not.
some people say this is just an issue and BTG only ICO coins are not the result of the BTC split.

[MostafaGamal]

yes i hear this also , but no Nothing sure , we will see , and we don't lose anything so keep the btc in your wallet and let's see what happen .

[bitcoinjames6]

I have a Leger Nano S - I got this just before the bitcoin cash fork and it was quite user-friendly for this fork.

[SummerBliss]

The Bitcoin gold fork is still not sure to be happening on 25th Oct. They even haven't launched the testnet for miners amd they are just hushing right now. the possible fork project is disorganized, especially considering how quickly the date of the fork is coming up. But even if fork happens, holding the private keys of Bitcoin wallet will solve most of your problems. Don't keep your Bitcoin on exchanges during fork.

[Yuuto]

Hello,
I am a relatively new investor in Bitcoin, and recently I have been reading about a fork to Bitcoin gold. My understanding is that everyone who owns Bitcoin receives the equivalent number of coins in the forked currency, once the fork takes place. Is this correct?

Do I have to store my Bitcoin in a specific wallet (I might be new, but I'm not stupid enough to send my coin to you ;-) ), or do anything to activate this, or will it happen automatically? (If the fork goes ahead, of course).

Thanks for any advice.

Think of this like an airdrop.

Should be similar to what happened on 1st August, when Bitcoin Cash was forked out of bitcoin. Even though i do not know the specifics for bitcoin gold, they will most likely take a snapshot of the bitcoin blockchain and distribute balances this way.

Whether or not you hold the bitcoin gold or convert it into bitcoin is entirely up to you.

[perazdera]

How to convert them via Blockchain.info? Can someone explain how the conversion happened with Bitcoin Cash if Bitcoin Gold conversion will be same as Bitcoin Cash?

It is a bit complicated - much more so than with the "old" blockchain.info wallets before 2015 - because Blockchain.info now uses "BIP39" addresses. That means roughly that you have a "seed phrase" which is a kind of "master password" for all your addresses. But each address still has its own private key, so it's a bit confusing ...

A tutorial is here:

How to export Blockchain wallet private key.

Really, you should do this step by step and download the BIP39 generator page,  NOT using an online BIP39 generator - it may be malware!

Once you have the private keys, you import them one by one into your new "ForkBTC" client - the process is different for each client software.

Thank for explanation. I will look at tutorial once I get home.

[yhingsy]

Thank you for all the replies everyone
 Very helpful!

[Yakamoto]

Hello,
I am a relatively new investor in Bitcoin, and recently I have been reading about a fork to Bitcoin gold. My understanding is that everyone who owns Bitcoin receives the equivalent number of coins in the forked currency, once the fork takes place. Is this correct?

Do I have to store my Bitcoin in a specific wallet (I might be new, but I'm not stupid enough to send my coin to you ;-) ), or do anything to activate this, or will it happen automatically? (If the fork goes ahead, of course).

Thanks for any advice.

Straight up, at this point, I have no idea what is going on with forks now. I've heard so many people talking about what may be happening at some point or another, and now there are so many different forks people are talking about, it's all so tiresome to keep up with.

If the fork is something a majority of the network and devs are in favor of, you will likely just get an update which will automatically give you your new forked currency or whatever, just keep your private key on hand in case there is something you have to import in the event there is no update.

[itsonlikedonkeykong]

Yes to Bitcoin Gold! It's all good.  Don't forget the second, B2X later in November.

Track the progress of both coins here:

https://www.bitfinex.com/stats

Listed as:

BT1/USD   3520.0   

BT2/USD   1174.9

[ImHash]

Hope this thing comes to us after all our hard work against it should not disseminate although extra BTC will do !

Thanks 

Even if you used a translator it should be understandable but it's not even readable this thing with hard forks of bitcoin is just proving to everyone that how transparent bitcoin is. Unlike NEO and ETH people could really clone bitcoin because it's open source. nothing changes in bitcoin, only there are people spending money on cloned bitcoins, I shall never spend a satoshi on it. I will only dump them, thanks to big Wu I'm getting more money out of a few grand I invested on bitcoin

[error08]

So far there is two version of BTG news. Whether it will be another free coin just like Bitcoin Cash or will be sold through an ICO.
If we can get free distribution of bitcoin gold, then keep all of your bitcoin out of an exchange due to some exchanges or trading platform will give this coin to you tardy, just like Coinbase.
You may want to read this; https://bitcointalk.org/index.php?topic=2133536.0
ICO
BTCGPU will create 16000 blocks after forked from No 478558th Blcock.
every block 12.5 BTG.
it will be sold to ico investor.
1BTC=10BTG.
this ICO will help BTG chain the longest Bitcoin blockchain.
all rised BTC will used to hire developors, advertisement, etc.

[giarised]

Hey I'm in the same boat as OP here, I'm currently using a blockchain.info wallet.

- Is this a proper wallet?
- Will i just receive the btc straight into there and i don't have to do anything?
- IF NOT, would it go straight into a paper wallet?

Thanks guys

Yes this is straight wallet and there will be no formalities in receiving payment through bitcoin, and it is safer as compare to other wallets and there is no chance of hacking or getting into your wallet, and there will be no transaction fees through it and there also many online as well as offline wallets out there so that user can chose reliability.

[bearex]

Bitcoin will split again? This means another free money for bitcoin holders. This for sure a great opportunity for us. We can start buy more bitcoin and hold it on our own wallet till the fork happened.

How will you get free money? Who will give it to you? Everytime you make money, someone 'loses' that money. If the fork is useless no one will buy it.

There is potential danger if you sell one fork as soon as it comes. You might have sold the wrong fork.
Example: Bitcoin forks to BTG and BTC. BTC stays at 4500, BTG is at 500. What will you do? You can sell your BTG, but BTC might fall and BTG takes over. You just lost everything. You could also sell all your BTC buy BTG but then BTC takes over(as expected, yeah?) leaving you with a bag of shit.

[Miracle_Man]

Bitcoin gold have hype, because will have a good price. But it is possible many coin will be sold at the beginning and the price will drop.

[Nebell]

Man this forking is bullshit.
It just duplicates Bitcoin and makes altcoins that make those fat Bitcoin whales even richer. What a piece of shit scheme. It should be illegal.

[Natsuu]

Hello,
I am a relatively new investor in Bitcoin, and recently I have been reading about a fork to Bitcoin gold. My understanding is that everyone who owns Bitcoin receives the equivalent number of coins in the forked currency, once the fork takes place. Is this correct?

Do I have to store my Bitcoin in a specific wallet (I might be new, but I'm not stupid enough to send my coin to you ;-) ), or do anything to activate this, or will it happen automatically? (If the fork goes ahead, of course).

Thanks for any advice.

Think of this like an airdrop.

Should be similar to what happened on 1st August, when Bitcoin Cash was forked out of bitcoin. Even though i do not know the specifics for bitcoin gold, they will most likely take a snapshot of the bitcoin blockchain and distribute balances this way.

Whether or not you hold the bitcoin gold or convert it into bitcoin is entirely up to you.

Yeah. It's really an airdrop and not a bitcoin split.
Many are afraid when they're hear hard fork but actually it's good for the bitcoin network as the nodes will be upgraded. And it doesn't necessarily affect bitcoin price, only the FUDS are affecting the price as people are dumping their coins

[CryptoAlphaStar]

I currently have BTC in Bittrex account. I read that they gave BCC after the August 1st fork to the BTC holders at the time of the fork.
Let's make the following assumptions:
-Bittrex will again give the forked Bitcoin Gold to BTC holders
-Let's say the forks hapens at 10:00am, for example

If I sell my BTC for another currency at let's say 10:02am, am I still gona receive Bitcoin Gold from bittrex or not?

[Dailyroberts]

Bitcoin will split again? This means another free money for bitcoin holders. This for sure a great opportunity for us. We can start buy more bitcoin and hold it on our own wallet till the fork happened.

How will you get free money? Who will give it to you? Everytime you make money, someone 'loses' that money. If the fork is useless no one will buy it.

There is potential danger if you sell one fork as soon as it comes. You might have sold the wrong fork.
Example: Bitcoin forks to BTG and BTC. BTC stays at 4500, BTG is at 500. What will you do? You can sell your BTG, but BTC might fall and BTG takes over. You just lost everything. You could also sell all your BTC buy BTG but then BTC takes over(as expected, yeah?) leaving you with a bag of shit.

After the split, bitcoin will lose money and price. That's how the new one is coming with an actual price to the market.

So you explained it well for us.

BTC will dominate at the end for sure, there is no doubt for this.