The Coming Fork(s) Safety For BItcoins

[crairezx20]

Thanks guys for clarification.

I wonder why the BTC developers does not issue a formal declaration stating or summarising the above, that:
1. Your bitcoins will remain bitcoins, just keep them in a wallet where you keep private keys.
2. Don’t send or receive bitcoins during the period from xxx till yyy or till further notice.

Just to clarify for the users the situation, instead of focusing on the cons of BTG and it’s lack of replay protection which might cause you lose BTC to scare away people from BTG? It is actually scaring away people fro BTC as well..

This is my understanding to what’s happening now.. I might be wrong... but I am sure millions of bitcoiners are asking and worried the same as me...

An official statement or whatever from core BTC developers as above mentioned would help I think.

If you have no knowledge and you don't know what happen you should be worry since you are holding your investment so making a thread here in forum can help you to know to opinions of every one of us that who knows what will happen about your bitcoins after the fork,
So this thread can be also help for those who don't know what will be happen this coming fork,..
If you just safety holding seeds and private keys your invest are safe..

[daberti]

......So this thread can be also help for those who don't know what will be happen this coming fork,..
If you just safety holding seeds and private keys your invest are safe..

This has been said abundantly.
Yet it is not yet clear HOW to split BTC and BTG when the time will come, apart this piece of info from Electrum site
http://docs.electrum.org/en/latest/hardfork.html#

[limopc]

Thanks guys for clarification.

I wonder why the BTC developers does not issue a formal declaration stating or summarising the above, that:
1. Your bitcoins will remain bitcoins, just keep them in a wallet where you keep private keys.
2. Don’t send or receive bitcoins during the period from xxx till yyy or till further notice.

Just to clarify for the users the situation, instead of focusing on the cons of BTG and it’s lack of replay protection which might cause you lose BTC to scare away people from BTG? It is actually scaring away people fro BTC as well..

This is my understanding to what’s happening now.. I might be wrong... but I am sure millions of bitcoiners are asking and worried the same as me...

An official statement or whatever from core BTC developers as above mentioned would help I think.

If you have no knowledge and you don't know what happen you should be worry since you are holding your investment so making a thread here in forum can help you to know to opinions of every one of us that who knows what will happen about your bitcoins after the fork,
So this thread can be also help for those who don't know what will be happen this coming fork,..
If you just safety holding seeds and private keys your invest are safe..

Thanks a lot.

I hope this thread would result in 2 things:
1. people’s anxiety calms down, they will lose nothing.
2. an official declaration or press release from the BTC developers summarising the conclusion here in this thread, so simple in plain simple English and non techie.

I hope to see this announcement or press release soon.

[karmakeddon]

I got a question that is nagging on my mind. How long do I have to wait before moving my coins into a new wallet after the fork? I remembered during the Segwit fork that I transferred my btc to a fresh wallet around 48 hours after the fork but the transfer still became delayed for days. I do hope that this does not happen again.

[limopc]

I got a question that is nagging on my mind. How long do I have to wait before moving my coins into a new wallet after the fork? I remembered during the Segwit fork that I transferred my btc to a fresh wallet around 48 hours after the fork but the transfer still became delayed for days. I do hope that this does not happen again.

Well, I see you just added another point to my 2 points above, another point to be included in the “hoped” press release.

My personal point of view, as I am a long term investor, I don’t really mind about getting my free BTG or when.
I simply assume it didn’t happen, I can claim it any time later, though expecting great fluctuation in BTG value, but I initially assume it didn’t happen. All what I care about is my BTC.

Hope developers would show up.

[golfdoug]

Just a question from a newbie.  If I empty mycelium wallet and convert purchases to a Paper Wallet (creating Paper Certificate Notes) when they begin giving out fork perks ( new coins ) will Paper Bitcoins be eliminated from distribution because my Bitcoins are not visible online?  Tks

[limopc]

Just a question from a newbie.  If I empty mycelium wallet and convert purchases to a Paper Wallet (creating Paper Certificate Notes) when they begin giving out fork perks ( new coins ) will Paper Bitcoins be eliminated from distribution because my Bitcoins are not visible online?  Tks

I believe it will remain of course BTC. Only if it gets imported into a wallet after the fork the wallet will receive BTG.

That is, I believe if you sold physically your paper wallet to someone after the fork you will be selling him as well the same amount of BTG.

Someone correct me if I am wrong

[Kakmakr]

The 12 words are called a "seed", not a private key. The third party service providers provide that seed for people to recover their wallet data, when they lose their passwords or access to their wallet. You only have full control and access to coins that are generated from these forks <like Bitcoin Cash and Bitcoin Gold >, when you are the sole owner of the private key for your bitcoins.

This is why almost 90% of my coins are transferred to cold storage/paper wallets. < When a fork happens, I can decide when and how I want to use those free coins, not some third party service provider >

[limopc]

The 12 words are called a "seed", not a private key. The third party service providers provide that seed for people to recover their wallet data, when they lose their passwords or access to their wallet. You only have full control and access to coins that are generated from these forks <like Bitcoin Cash and Bitcoin Gold >, when you are the sole owner of the private key for your bitcoins.

This is why almost 90% of my coins are transferred to cold storage/paper wallets. < When a fork happens, I can decide when and how I want to use those free coins, not some third party service provider >

Ok, so, the private key is not the seed, but anyway if it is a wallet like jaxx or bread, the private key is stored inside the wallet.

If I don’t make a transaction so it is ok?

What about previous posts saying it’s ok if I don’t make a transaction?

When you say third party, do you mean jaxx or bread wallet? How can they if AFAIK my private keys are encrypted inside the wallet?

Am I right?

So, I am back to uninstall the wallet, then later install and restore using the seed. Is this Ok?

[limopc]

Still hoping BTC developers can settle this.

[ahmad21]

There is no need to do such a thing. Dont hope for an improved security even if you uninstall your wallet. Things will remain same. Only you wont be able to access your wallet. Moreover this wont even affect your btg tokens too.

[pooya87]

Still hoping BTC developers can settle this.

bitcoin is not a centralized alt-shit-coin that the developers settle things for its future.
bitcoin is a decentralized system and the whole system has to settle the arguments based on what we can call "consensus". so far this has proven to be working and it has countered all the attacks such as bitcoin cash and pushed them out like a useless altcoin they are. it should be like that in the future too.

[Wowcoin]

Just wondering, as I am reading a lot about Fork risks especially with bitcoin gold.

I have the private keys (the 12 words) safely stored.

What if I simply uninstall the wallet that has my BTC (it is Jaxx by the way) before the fork, then reinstall later and recover from the 12 keywords. Would that be ok or will be risk?

Would my BTC remain BTC or can accidentally be changed to BTG?

What safest wallet?

Your help highly appreciated.

If you save all that i think its safe you can uninstall it and install it later. If you have bitcoin it stays bitcoin.
I think you will get BTG if that wallet supported but some wallet didn't give BTG if you stored your bitcoin.

[limopc]

So, just should not send or receive till things settle down?

[limopc]

Just wondering, as I am reading a lot about Fork risks especially with bitcoin gold.

I have the private keys (the 12 words) safely stored.

What if I simply uninstall the wallet that has my BTC (it is Jaxx by the way) before the fork, then reinstall later and recover from the 12 keywords. Would that be ok or will be risk?

Would my BTC remain BTC or can accidentally be changed to BTG?

What safest wallet?

Your help highly appreciated.

If you save all that i think its safe you can uninstall it and install it later. If you have bitcoin it stays bitcoin.
I think you will get BTG if that wallet supported but some wallet didn't give BTG if you stored your bitcoin.

Which wallet you think will not follow BTG for sure? I am on iOS, familiar with bread and jaxx, what you think?
Thanks

[toltec3000]

in this thread you can see how much people are actually confused
this is my resum of information I found so far :

BTG fork should be dead easy if - there is realy strong replay protection
                                               - they will release any wallet supporting btg to claim your btg

what is a fair bit more dangerous is 2x fork as there will be no strong replay protection and nobody so far gave a proper advise how to use optional replay protection, where youre suppose to send bitcoin with two outputs in one transaction.
also unlike with BTG after the 2x fork the hash rate will decrease by extreme amount so we can expect milions of unconfirmed transaction and I gues those tricky miners are so bad that theyre able to make 51% attack as well to destroy LEGACY BITCOIN. this is scarying enough...

[squatter]

So, just should not send or receive till things settle down?

For the October 25th fork, there should be nothing to worry about. According to the BTG developers, there will be strong replay protection. So if you move your BTC, the BTG will stay in the old addresses. After the fork, if you want to claim the Bitcoin Gold, just move your BTC to a new address. Then download the Bitcoin Gold wallet on a throwaway machine / virtual machine and import the private keys that held BTC at fork time.

The main concern with Bitcoin Gold, in my eyes, is malware. There is a chance your private keys will be used to steal your BTC, so make sure to move your BTC first, and only import keys into the BTG wallet which are currently empty on the BTC chain.

[pooya87]

So, just should not send or receive till things settle down?

For the October 25th fork, there should be nothing to worry about. According to the BTG developers, there will be strong replay protection. So if you move your BTC, the BTG will stay in the old addresses. After the fork, if you want to claim the Bitcoin Gold, just move your BTC to a new address. Then download the Bitcoin Gold wallet on a throwaway machine / virtual machine and import the private keys that held BTC at fork time.

The main concern with Bitcoin Gold, in my eyes, is malware. There is a chance your private keys will be used to steal your BTC, so make sure to move your BTC first, and only import keys into the BTG wallet which are currently empty on the BTC chain.

the main concern regarding bitcoin gold is its replay protection.
their website says their coin has a replay protection but i have not seen any recent commit to their github code base that adds this, it is possible that i have missed it but in case i haven't it should be the main concern of you. because making any transaction on BTG without replay protection means losing your bitcoins on the BTC chain.

[squatter]

So, just should not send or receive till things settle down?

For the October 25th fork, there should be nothing to worry about. According to the BTG developers, there will be strong replay protection. So if you move your BTC, the BTG will stay in the old addresses. After the fork, if you want to claim the Bitcoin Gold, just move your BTC to a new address. Then download the Bitcoin Gold wallet on a throwaway machine / virtual machine and import the private keys that held BTC at fork time.

The main concern with Bitcoin Gold, in my eyes, is malware. There is a chance your private keys will be used to steal your BTC, so make sure to move your BTC first, and only import keys into the BTG wallet which are currently empty on the BTC chain.

the main concern regarding bitcoin gold is its replay protection.
their website says their coin has a replay protection but i have not seen any recent commit to their github code base that adds this, it is possible that i have missed it but in case i haven't it should be the main concern of you. because making any transaction on BTG without replay protection means losing your bitcoins on the BTC chain.

It the Bitcoin Gold developers are lying and they aren't adding replay protection, the project is dead in the water anyway. And it's not a concern based on the above: "only import keys into the BTG wallet which are currently empty on the BTC chain." I would never put BTC at risk to get some airdropped tokens.

I'm pretty sure the Bitcoin Gold project was launched to discredit both BCH and B2X -- they all look like crappy altcoins now. As such, I think they will follow through with the time-tested and somewhat trivial address/transaction format change to prevent replay.

[newlone]

Just wondering, as I am reading a lot about Fork risks especially with bitcoin gold.

I have the private keys (the 12 words) safely stored.

What if I simply uninstall the wallet that has my BTC (it is Jaxx by the way) before the fork, then reinstall later and recover from the 12 keywords. Would that be ok or will be risk?

Would my BTC remain BTC or can accidentally be changed to BTG?

What safest wallet?

Your help highly appreciated.

Do not worry too much about this, you can still keep it as bitcoin and it will not turn into bitcoin gold. Blocking your bitcoin may prevent you from receiving extra bitcoin gold from the hard fork event.