Bitcoin fork - new coin?

[Palirai]

Bitcoin gold is waiting too, that bitcoin cash ...
Is that the miners will support for a while, until the complexity will fly to the moon.

[1714803846]

1714803846

[1714803846]

1714803846

[1714803846]

1714803846

[1714803846]

1714803846

[1714803846]

1714803846

[1714803846]

1714803846

[AmXProX]

Fork may happen every now and then right. but prices are independent.

[Emerge]

Yes Bitcoin Gold. is another hard fork that will bring some changes to the ecosystem.
If you’re a holder, there isn’t that much to fear here, and there may be some free money in it for you

[bitbunnny]

Yes Bitcoin Gold. is another hard fork that will bring some changes to the ecosystem.
If you’re a holder, there isn’t that much to fear here, and there may be some free money in it for you

Exactly, this is only thing that Bitcoin gold will represent, extra free money. To my opinion in cryptocurrencies system if will not have any significant influence or value, especialy not on long term, just like Bitcoin cash.
So, there is nothing to fear about and it will not represent any competition for Bitcoin just pay attention where you store your coins.

[FuzzyQuant]

Hello all,

I am owning some bitcoins and other alt coins since a while and I have been reading a lot over here in stealth modus, really helpful.

Now there is a fork coming up and I am confused;
As far as I can see a fork is like a share split of a company.  Like Pfizer dId with zoetis in the US.  The owners of shares in Pfizer also get shares in zoetis for free, right?

Now let's say I have my bitcoin stored at coinbase.  Do I automatically get the fork shares? Does coinbase support it? Or do I have to put them in a different wallet?
Do I have to claim them?

That is unclear to me. Maybe somebody can help me and probably some others out on this subject?

Yes, there are actually 2 forks happening within the next month. Bitcoin Gold (BTG) should happen sometime next week and Bitcoin Segwit2x (B2X) should happen around mid-November.

All you have to do is make sure that you have your bitcoins in a wallet where you have access to your private keys at the time of those 2 forks, with a warning.

The warning is that you should be careful about moving your coins around the time of the fork, as they could lead to the other coins (BTG & B2X) being moved as well (you can imagine the coins as initially being "stuck together").

You should wait for news and announcements by the devs, stating that the chains are all stable, before moving your coins.

[marky89]

Yes, there are actually 2 forks happening within the next month. Bitcoin Gold (BTG) should happen sometime next week and Bitcoin Segwit2x (B2X) should happen around mid-November.

All you have to do is make sure that you have your bitcoins in a wallet where you have access to your private keys at the time of those 2 forks, with a warning.

The warning is that you should be careful about moving your coins around the time of the fork, as they could lead to the other coins (BTG & B2X) being moved as well (you can imagine the coins as initially being "stuck together").

You should wait for news and announcements by the devs, stating that the chains are all stable, before moving your coins.

Is there still no word on replay protection from the Bitcoin Gold developers? Now that I think about it, is there even code that is publicly available yet? It seems like they are setting themselves up for failure with the lack of preparedness and publicity. Maybe that's the point -- get everyone sick and tired of these forks, which reinforces the notion that the legacy chain is the true Bitcoin, and that the hard forks are just altcoins. Roger Ver must be pretty worried right now...

[FuzzyQuant]

Is there still no word on replay protection from the Bitcoin Gold developers? Now that I think about it, is there even code that is publicly available yet? It seems like they are setting themselves up for failure with the lack of preparedness and publicity. Maybe that's the point -- get everyone sick and tired of these forks, which reinforces the notion that the legacy chain is the true Bitcoin, and that the hard forks are just altcoins. Roger Ver must be pretty worried right now...

Haha, indeed! Roger must be trying to "rally the [non-existent] troops!"

No news and couldn't find any code for BTG either. I hadn't thought about that, they may indeed have done it to emphasize how absurd it is getting, if so, hats off to them! Clever political move.

[danggoron]

many possibilities will happen after hardfork. the good news, for those who have bitcoin will get bitcoin gold in november later. I last night read articles that discuss about what things can be done before and after the occurrence of hardfork. following the link https://bitcoinmagazine.com/articles/bitcoin-beginners-guide-surviving-bgold-and-segwit2x-forks/, hope it helps.

[colossus]

Hello all,

I am owning some bitcoins and other alt coins since a while and I have been reading a lot over here in stealth modus, really helpful.

Now there is a fork coming up and I am confused;
As far as I can see a fork is like a share split of a company.  Like Pfizer dId with zoetis in the US.  The owners of shares in Pfizer also get shares in zoetis for free, right?

If you own BTC at the time of a hardfork, you also own BCH, Bitcoin Gold, B2X, etc on the new fork. For each 1 BTC you get 1 BCH, 1 Bitcoin Gold, 1 B2X, etc.

It's basically like someone created a new bank account for you, mirroring your balance by using your old account statements, but at a new bank and with a new currency.

Now let's say I have my bitcoin stored at coinbase.  Do I automatically get the fork shares? Does coinbase support it? Or do I have to put them in a different wallet?
Do I have to claim them?

That is unclear to me. Maybe somebody can help me and probably some others out on this subject?

Coinbase supporting Bitcoin Gold seems unlikely. So far it looks like Coinbase will support B2X, but I wouldn't bet on it unless they renew their commitment in an official statement.

If you want to access fork coins that Coinbase does not support, you need to move your BTC to a wallet of your own before the fork happens. Don't forget to account for confirmation times. A wallet of your own is a wallet like Electrum or Bitcoin Core, ie. a wallet where you have direct access to your own private keys.

After the fork you need to import these private keys (or the recovery seed words) into a wallet that supports Bitcoin Gold or B2X respectively. Using the wallet of the respective Bitcoin fork, you can freely access your coins. However you don't need to "claim" them or access them right away. As long as you have the private keys you can access your forked coins any time in the future.

Thank you, that was helpful. Although I own only 2.8 BTC, it is still much and I don't want to lose them. I was searching for such a good explanation and I found it, thankfully to you!

[MrZ28s]

Most prefer hard wallets and electrum is the most popular. I doubt Coinbase will credit Bitcoin Gold too. I also have some bitcoins in bittrex and I hope they will credit the fork like what they did before.

[Kprawn]

....
If you want to access fork coins that Coinbase does not support, you need to move your BTC to a wallet of your own before the fork happens. Don't forget to account for confirmation times. A wallet of your own is a wallet like Electrum or Bitcoin Core, ie. a wallet where you have direct access to your own private keys.

After the fork you need to import these private keys (or the recovery seed words) into a wallet that supports Bitcoin Gold or B2X respectively. Using the wallet of the respective Bitcoin fork, you can freely access your coins. However you don't need to "claim" them or access them right away. As long as you have the private keys you can access your forked coins any time in the future.

This was the answer that I have been looking for! Thanks!!!

If I can just add to that. Make sure you transfer the coins to a wallet, where only YOU have access to the private key and

not a service or online wallet where you share the access to these private keys. I prefer to transfer it to a paper wallet as a

interim measure and once the fork was done, to split whatever is on there to whatever wallet that supports the new

coins. {This gives YOU full control} 

[probitcrypto]

You should definetly store your Bitcoins on a wallet which you have full control over.
I would not recommend to use an online wallet. Thats the only way to ensure you will own both coins after the fork.
Once the fork appears there are 2 coins which share the same block history (until "fork-block").
This means for every BTC you own, "you will get" one forked coin (simply by still owning the private key which has value at the time of the fork).
But there is no guarantee for you to get your forked coin from web wallet provider.
Electrum is a nice light weight wallet (does not download full blockchain).

Today I downloaded electrum wallet,but i am confused there is a address tab and i can see there are many address listed there,Those are my address?or this wallet changes address every time i want to receive bitcoins.I have made 2fa verification on there does that cost me extra money if so how much it will be,
I am new could anyone help?

[AlexAlyn]

Will there be 3 new chans now (core +2(gold and sw2x) ? why the core is not accepting the 2x upgrade?

[Nisharawal]

Yes everybody are thinking a lot on Hardfork, during the hardfork of bitcoin cash even i was scared whether hardfork will ruin my bitcoin balance, actually i was unaware of that. But after learning from this forum threads i got to know how it is working. Bitcoin holder during the hardfork will get the bonus stake of bitcoin gold, B2X etc. I don't know coinbase have committed about this on thier site or any email letter. but yes i will wait for strong confirmation message from the exchanges. I am  also looking for the message's from Bittrex exchange and few other Bitcoin related news site's and blogs.
 

[bob123]

You should never be storing your coins on a online wallet / exchange.
There is no guarantee coinbase is going to pay you those BTG out.
Coinbase has the control over your private keys (the real bitcoins). You only have an account on their website which gives you "the right" to send coins.
In case of a fork coinbase is in charge of the BTG coins. They may give them to you.. or they dont.
I would recommend to download a wallet for your PC (you can download a light weight wallet e.g. electrum)

Today I downloaded electrum wallet,but i am confused there is a address tab and i can see there are many address listed there,Those are my address?or this wallet changes address every time i want to receive bitcoins.I have made 2fa verification on there does that cost me extra money if so how much it will be,
I am new could anyone help?

Yes, those are all your addresses.
Electrum generates a new address for every transaction (for privacy reasons).
Those are all addresses which you are in control of.

[illyiller]

Will there be 3 new chans now (core +2(gold and sw2x) ? why the core is not accepting the 2x upgrade?

Because there is no consensus behind this "upgrade." Much of the user base does not appear to view it as an "upgrade" at all, but rather as an attack and form of coercion brought by industrial miners and VC-backed corporations. I think that there are developers within Core who are open to future block size increases, but not at the cost of ignoring the user base. And certainly not on a timeline of 2-3 months. That's crazy. Most people probably don't regularly upgrade their node software, so how can anyone expect to coordinate a fork on this timeline?

The Gold hard fork is not coordinated with miners (it changes the POW), so it's really of no concern. It's just (yet) another altcoin. If it goes somewhere, maybe we'll get some free BTC out of it.

[cwik]

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?

[karmakeddon]

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?

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.

[pawanjain]

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.

[squatter]

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.