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Author Topic: What will happen If I just hold my BTC (November fork)?  (Read 2807 times)
harizen
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October 11, 2017, 03:13:53 PM
 #21

I am just as confuse of this bitcoin forking. Last August we had a segwit fork for bitcoin and just recent weeks another forking rumor spreads and now this November. What is the real date of implementation of these forks? How would it benefit the bitcoin community?

Like mentioned above by achow101, it was guaranteed to happen because that is the nature of hard forks.

What it would benefit the community? Well a modified one is different to the current structure of bitcoin so there will be new implementations. But honestly, the main purpose of majority here is the "free money" that will get from this fork. Well just follow updates at any search result you will see via Google.

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J. Cooper
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October 11, 2017, 06:32:31 PM
 #22

I am just as confuse of this bitcoin forking. Last August we had a segwit fork for bitcoin and just recent weeks another forking rumor spreads and now this November. What is the real date of implementation of these forks? How would it benefit the bitcoin community?

Like mentioned above by achow101, it was guaranteed to happen because that is the nature of hard forks.

What it would benefit the community? Well a modified one is different to the current structure of bitcoin so there will be new implementations. But honestly, the main purpose of majority here is the "free money" that will get from this fork. Well just follow updates at any search result you will see via Google.
If I'm not mistaken this time around there's no replay protection so you're transactions on the 'new' chain can be rebroadcasted on the main chain. It is free money but this fork comes with a great risk. A risk I'm not willing to take.
But besides the fact that you get 'free money' do you think that 2x will have a future?
stunvn
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October 12, 2017, 11:04:44 AM
 #23

Depends.

Most exchanges will do the split.

But some websites that supports Segwit2x. Your 1 BTC will be converted to 1 B2X. Instead of  split in to 1 BTC and 1  B2X.
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October 12, 2017, 11:53:27 AM
 #24

for example:
if I hold 1 BTC, it will stay as 1 BTC(core) after the fork? 
or
it will be splitted?  0.5 B2X(hard fork) and 0.5 BTC(core) for example
You will have 1 BTC and 1 B2X after the fork. Note that B2X (segwit2x coin) is not the same as Bitcoin Gold which is a different altcoin that has different parameters and is forking at a different time.

How would that play out if you use Trezor?
Norilsk
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October 12, 2017, 12:34:54 PM
 #25

Depends.

Most exchanges will do the split.

But some websites that supports Segwit2x. Your 1 BTC will be converted to 1 B2X. Instead of  split in to 1 BTC and 1  B2X.
Converted?  I think you will just have B2X too.
nioschka
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October 12, 2017, 12:43:36 PM
 #26

where do I store my BTC before the fork?

Bitfinex, coinbase wallet who support the fork?
or
cold storage?

I suggest you to store it on your own wallet where you control the private key, so you can redeem the BTC Gold straight away.
And what exactly will happen if you store it in the exchange? I'm new in this one (wasn't here for the last fork - that much new) but I do understand the whole blockchain tech and the "fork" duplicating of the chain in accordance to the snapshot taken at a precise moment. Does it mean that only exchanges that use real addresses for the users' wallets will be "snapshot" during the fork, but only those who decide to list the newly created currency on their market will provide their users with new wallets (with the duplicated addresses) in which they will be able to see their new currency? Or these newly created wallets for the new currency will have no connection to the addresses of the existing users' BTC wallets, so they won't be able to get access to their funds (that still exist at the address on the new chain, but could be approached only by the stuff of the exchange)? Thanks!
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October 12, 2017, 04:23:07 PM
 #27

Bitcoin price is skyrocketing bcoz of the hardfork.. hodl btc for btg
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October 13, 2017, 03:09:51 AM
 #28

         

          If some one is holding the BTC  to the november fork naturally  he will get his original 1BTC+1B2X. The bitcoin net work mostly upgrade to include new rules to support more people and more transactions per second. A fork in bitcoin terms, is when two different blockchains emerges. The bitcoins will not be at risk, it depends on where you store your bitcoin. If you store your funds in Athena bitcoin app, then you will be safe. your user name and password should be stored securely. It is better not to store your bitcoin in the exchange or web site.
Jombitt
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October 13, 2017, 03:35:29 AM
 #29

Hello everyone,

for example:
if I hold 1 BTC, it will stay as 1 BTC(core) after the fork? 
or
it will be splitted?  0.5 B2X(hard fork) and 0.5 BTC(core) for example

thanks

If you are holding 1btc you will get 1bitcoin gold as well. You will get the same amount of your current btc during fork. But i am not sure if some exchanges will also implement this so its better keep your bitcoin in your wallet . Read some articles here https://www.cryptocoinsnews.com/b2x-bitcoin-exchange-bitfinex-reveals-ticker-for-segwit2x-fork/

aencarnaci
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October 13, 2017, 07:04:52 AM
 #30

Not a damn thing. You may get snowed down in BS, but that is normal here. There is at least one more fake direct fork coming, as you know and some minor changes to the code itself, so there is going to be talk and rumors, just keep your head down and ignore those guys and you will be fine.
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October 13, 2017, 07:18:09 AM
 #31

If I store my Bitcoin on Bittrex, this is not working ?

Anyone knows how Kraken is handling bitcoins which are stored on the exchange itself?
Emularea
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October 13, 2017, 06:00:20 PM
 #32

How this will work with a ledger hard wallet, because you can't extract your private key as I read?
danielgold20
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October 13, 2017, 08:21:46 PM
 #33

It will be like with BCH same thing
francesyrus
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October 17, 2017, 05:45:46 AM
 #34

Hello everyone,

for example:
if I hold 1 BTC, it will stay as 1 BTC(core) after the fork? 
or
it will be splitted?  0.5 B2X(hard fork) and 0.5 BTC(core) for example

thanks

I just receive an e-mail from qoinpro.com and it says that when you have 1BTC you can have 1 Bitcoin Gold after the fork. Here is the explanation from qoinpro.com about the coming fork....

What is Bitcoin Gold?
Bitcoin Gold is a friendly dividend hard-fork of Bitcoin that intents to solve miner centralization through a proof-of-work change. They’re going to use the memory-hard ASIC resistant Equihash algorithm also used by ZCash. The idea is to give mining power back to the users using CPUs and GPUs to mine. Secondly it is intended as a testing ground for new features that may or may not end up in the Bitcoin network.
 
How can I claim my Bitcoin Gold?
Simply deposit any amount to your QoinPro wallet and send "Claim Bitcoin Gold” to support@qoinpro.com. There is no minimum and no maximum.
 
When should I deposit the Bitcoin?
As soon as possible, and no later than October 24, 2017. BTG claims are handled in the order they are received. Anybody claiming Bitcoin Gold before October 19 will automatically receive three star upgrades (more daily BTG) starting October 25.
 
There is no minimum and there is no maximum. However, if you are going to deposit more than 10 BTC, please let us know in advance.
 
How much does Bitcoin Gold cost?
Obtaining Bitcoin Gold through a Bitcoin based claim is free-of-charge, simply deposit your Bitcoin. For example if you have 2.7 Bitcoin before the fork, you will have 2.7 Bitcoin and 2.7 Bitcoin Gold after the fork.
 
When are claims processed?
The fork is scheduled for October 25, 2017. Three days after the fork, we will start processing Bitcoin Gold claims in the order they were received. The reason we wait three days is to ensure we are on the right chain and both deposits and withdrawals can be handled automatically.
 
How much Bitcoin Gold will I get?
You will get 1 Bitcoin Gold (BTG) for every 1 Bitcoin deposited, so if you deposit 0.53 BTC, you will get 0.53 BTG.
 
When can I withdraw my BTC and BTG again?
Unlike Bitcoin Cash (Which we distributed post-fork), this will be mostly automatic. After your claim has been processed you can withdraw the Bitcoin again.
 
Withdrawing Bitcoin Gold is possible as soon as the Bitcoin Gold team has released a wallet that we can implement (currently scheduled for early November).
 
Alternatively, you can leave them there for the next fork.
 
What is the next fork and when is it scheduled?
The next scheduled fork is called Bitcoin Segwit2X or B2X for short. It is not 100% certain this fork will happen, but if it does it will be on November 18 and QoinPro will support it. More information will follow closer to the date.
 
What is the minimum or maximum I can deposit/claim?
There is no minimum or maximum amount you can deposit.

golekcepot
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October 18, 2017, 03:46:13 PM
 #35

If I store my Bitcoin on Bittrex, this is not working ?
It's true that your money will is frozen like an iceberg. Because, bittrex is just a wallet, not a mining or trading place, you should take your btc from bittrex. Because (until now bitrek have not clarified their position on the next hard fork), take advantage of the existing btc to get fork, and use your private key.
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October 19, 2017, 03:52:16 PM
 #36

Gonna have to sit through some volatile times again. Anyone where i can read about the date of this fork? Heard alot of brief mention of a nov fork.. anyone has an article summarizing everything?
BillyBobZorton
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October 19, 2017, 04:35:05 PM
 #37

I am just as confuse of this bitcoin forking. Last August we had a segwit fork for bitcoin and just recent weeks another forking rumor spreads and now this November. What is the real date of implementation of these forks? How would it benefit the bitcoin community?

Like mentioned above by achow101, it was guaranteed to happen because that is the nature of hard forks.

What it would benefit the community? Well a modified one is different to the current structure of bitcoin so there will be new implementations. But honestly, the main purpose of majority here is the "free money" that will get from this fork. Well just follow updates at any search result you will see via Google.

A lot of people new to bitcoin can't seem to understand the fact that anyone with enough hashrate to sustain a chain can hardfork bitcoin at any time. It is a "feature". Of course, one must ask what does that hardfork do that it's economically viable.

Thus far, looking at the price of the forks, the ideas of hardfork bitcoin have not been welcomed. I suspect BGold will be a dumpfork too since it doesn't do much. I don't believe they will be able to decentralize mining, since if people cared enough, they would develop ASIC for equihash and it would end up the same so it's pointless.

Segwit2x futures are also at all time lows. Another nonsensical fork hyped by corporate drones that will die out quick.

To sum it up: Hold Bitcoin and don't be the speculating idiot that dumps after the forks.
J. Cooper
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October 19, 2017, 07:31:16 PM
 #38

I am just as confuse of this bitcoin forking. Last August we had a segwit fork for bitcoin and just recent weeks another forking rumor spreads and now this November. What is the real date of implementation of these forks? How would it benefit the bitcoin community?

Like mentioned above by achow101, it was guaranteed to happen because that is the nature of hard forks.

What it would benefit the community? Well a modified one is different to the current structure of bitcoin so there will be new implementations. But honestly, the main purpose of majority here is the "free money" that will get from this fork. Well just follow updates at any search result you will see via Google.

A lot of people new to bitcoin can't seem to understand the fact that anyone with enough hashrate to sustain a chain can hardfork bitcoin at any time. It is a "feature". Of course, one must ask what does that hardfork do that it's economically viable.

Thus far, looking at the price of the forks, the ideas of hardfork bitcoin have not been welcomed. I suspect BGold will be a dumpfork too since it doesn't do much. I don't believe they will be able to decentralize mining, since if people cared enough, they would develop ASIC for equihash and it would end up the same so it's pointless.

Segwit2x futures are also at all time lows. Another nonsensical fork hyped by corporate drones that will die out quick.

To sum it up: Hold Bitcoin and don't be the speculating idiot that dumps after the forks.
And that's exactly what I'm going to do. None of the forks that exist right now or will exist in the month or so will be able to overtake bitcoin in anyway.
I honestly just hope not too many people lose their coins due to the 2x attack. We've got some volatile times ahead but if you just hold on thight, and don't make stupid transactions that can potetially be replayed on another chain, there shouldn't be any problems.
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October 20, 2017, 11:03:27 AM
 #39

You will get free Bitcoin Gold.
Sskapollo7
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October 22, 2017, 06:41:22 AM
 #40

Ofcourse you'll get BTC gold as their prices are strong

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