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Author Topic: Bitcoin fork - new coin?  (Read 3135 times)
squatter
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October 22, 2017, 07:30:39 AM
 #41

I need to move some BTC around the 1st or 2nd.

Is there a decent guide to split my coins as fast and safely as possible?  Is there a particular wallet that is gonna be best for this process?
You can keep your coins in a wallet which supports the BTG and has the ability to export the private key. If you have the private key to your wallet you will be eligible to claim the free coins after the fork. You can also keep your coins on exchanges like Bittrex and Yobit as they are supporting the BTG fork and they will be giving equivalent amount of BTG to BTC holders. I would strongly recommend you to move your coins to Bittrex as it is safer than other options and you will be able to trade the BTG as soon as you get it. This will give you an advantage to make quick decisions whether to sell or not while others will be still waiting for their coins to arrive.

I'm not sure it's advisable to keep all your coins on Bittrex just to take advantage of the BTG fork. And since this is being done as a snapshot with a public launch days later, you may not gain that much of a time advantage by keeping coins there, either. From the look of things, BTG will be worth even less than BCH, so I'll take my time and keep my coins secure in my full node wallet and cold storage.

I'm not willing to risk any money to this exchange just to sell a bit earlier. Bittrex has actually been acting pretty shady lately with lots of unexplained account disablements, so I'd steer clear of there myself. Hopefully Changelly or Shapeshift will support BTG so we can quickly dump it back into our BTC wallets.

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October 22, 2017, 08:53:00 PM
 #42

bitcoin is king, all the rest are soldiers Grin
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October 22, 2017, 09:28:42 PM
 #43

There was a guide that was written here a few months ago on how to claim secondary coins from a split. Look for the tutorial for the BCH one as it will mostly be the same process as Bitcoin Gold. For wallets, I prefer using Electrum since it is light, but if you can run Core then it is better.

Regarding the tutorial, you can check this link out.

You can keep your coins in a wallet which supports the BTG and has the ability to export the private key. If you have the private key to your wallet you will be eligible to claim the free coins after the fork. You can also keep your coins on exchanges like Bittrex and Yobit as they are supporting the BTG fork and they will be giving equivalent amount of BTG to BTC holders. I would strongly recommend you to move your coins to Bittrex as it is safer than other options and you will be able to trade the BTG as soon as you get it. This will give you an advantage to make quick decisions whether to sell or not while others will be still waiting for their coins to arrive.

Thanks so much.  Looks like both will workable options.

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October 22, 2017, 09:34:08 PM
 #44

Does anybody know when the next forks will happen? I am asking if somebody know any specific dates and times when these will occur? I would like to know more about these forks. Anybody knows?


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October 22, 2017, 09:43:37 PM
 #45

Why would anyone be worried about the masses adopting an obscure coin (the bitcoin fork), we have already seen that situation unfold with alt coins
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October 23, 2017, 06:43:36 AM
 #46

You should move all your altcoins to bitcoin on OT before 25th October 2017  in other to be able to get free coins that will come out of the splitting. I have also gotting all my coins converted to bitcoin since the day before yesterday. I got some free coins when I lived my bitcoin in poloniex and blockchain.info during the last hardfork in August this year. Coinbase though may not support bitcoin gold for you to get your own share of the splitting coin but there are offline wallet that you can download them and transfer your bitcoin into and after the splitting you will get free coins. I do believe https://trezor.io are going to support bitcoin gold.

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October 23, 2017, 07:53:06 AM
 #47

you should better keep your btc on the safe wallet devoted specially for it
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October 23, 2017, 03:00:26 PM
 #48

bitcoin gold is a project of pure water divorce!
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October 23, 2017, 03:25:18 PM
 #49

i have few question about this fork , more i read here more confused i get


so plz answer this

are my bitcoins safe , i have them in coinbase and faucethub

also i made private key when bitcorn fork happned last time ( july , august)

so should i redeem or bitcoins are safe in private key 
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October 23, 2017, 11:49:12 PM
 #50

are my bitcoins safe , i have them in coinbase and faucethub

also i made private key when bitcorn fork happned last time ( july , august)

so should i redeem or bitcoins are safe in private key 

If your coins are in Coinbase and Faucethub, they are not safe, but this has nothing to do with the fork. They aren't safe because you don't control the private keys, and are trusting third parties to hold your money.

However, in regards to the fork, Coinbase said this:

Quote
The Bitcoin Gold fork is projected to take place on October 23rd. Information about this fork has been limited and there are concerns about its security and stability. As a result, we do not believe it is safe to allow support for Bitcoin Gold at this time. If the blockchain proves to be secure and valuable, Coinbase may choose to support it. At that point, your account will be credited with an amount of Bitcoin Gold equal to your Bitcoin (BTC) balance at the time of the fork.

They still haven't credited peoples' Bitcoin Cash from the August fork, and they are leaving the Bitcoin Gold question up to their discretion. So if you are interested in receiving BTG, you should hold your BTC in a wallet you control (like Core or Electrum). Not Coinbase. That way, you can recover the BTG immediately when the chain is launched.
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October 24, 2017, 12:15:59 AM
 #51


Electrum is a nice light weight wallet (does not download full blockchain).


Thanks for the suggestion, I've been looking for feedback on this wallet!
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October 24, 2017, 02:56:09 AM
 #52

I need to move some BTC around the 1st or 2nd.

Is there a decent guide to split my coins as fast and safely as possible?  Is there a particular wallet that is gonna be best for this process?
You can keep your coins in a wallet which supports the BTG and has the ability to export the private key. If you have the private key to your wallet you will be eligible to claim the free coins after the fork. You can also keep your coins on exchanges like Bittrex and Yobit as they are supporting the BTG fork and they will be giving equivalent amount of BTG to BTC holders. I would strongly recommend you to move your coins to Bittrex as it is safer than other options and you will be able to trade the BTG as soon as you get it. This will give you an advantage to make quick decisions whether to sell or not while others will be still waiting for their coins to arrive.

I'm not sure it's advisable to keep all your coins on Bittrex just to take advantage of the BTG fork. And since this is being done as a snapshot with a public launch days later, you may not gain that much of a time advantage by keeping coins there, either. From the look of things, BTG will be worth even less than BCH, so I'll take my time and keep my coins secure in my full node wallet and cold storage.

I'm not willing to risk any money to this exchange just to sell a bit earlier. Bittrex has actually been acting pretty shady lately with lots of unexplained account disablements, so I'd steer clear of there myself. Hopefully Changelly or Shapeshift will support BTG so we can quickly dump it back into our BTC wallets.

yeah, agree with this. im not also risking any of my hard earned bitcoins to any exchange or wallets that supports btg  fork yet  ill withdrew my coins before the said fork will begin on the first or second week of november but all of us has their own decisions regarding to the snapshot/airdrop ,  although  most people are still hoadrding thier coins and buying much as possible to get the equivalent btg on thier wallets but i guess btg's value will be lesser than bch.

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October 24, 2017, 05:38:22 AM
 #53


Electrum is a nice light weight wallet (does not download full blockchain).


Thanks for the suggestion, I've been looking for feedback on this wallet!

May not be perfect for privacy but good wallet. Bitcoin Core is better from that perspective but needs syncing.
iTradeChips
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October 24, 2017, 08:57:35 PM
 #54

Well it is a good thing that hitbtc was able to support bitcoin gold and will be giving out all participants with the bitcoin gold they have accumulated. It is suprising that the price of Bitcoin gold is very high now. Hopefully I can manage to invest on this one.


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October 24, 2017, 10:55:44 PM
 #55

I hope you have gotten your answers from all the comment...........forking can be a blessing in disguise for most people.
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