[2017-10-15] Preparing for the Bitcoin Hard Forks: A Step-by-Step Walkthrough

[Iloveelvis]

At the moment there are two forks planned for the Bitcoin network, and cryptocurrency proponents are curious about taking the best preparations. One fork is called Bitcoin Gold which is scheduled for October 25, while the other hard fork Segwit2x (BTC1) will take place roughly around mid-November or block height 494784.

This past summer we wrote a lot about preparing for a fork when the entire Bitcoin network and its participants experienced the August 1 blockchain split. Currently, there are two bitcoin forks scheduled to happen over the next few weeks. This means if splits happen to occur between all of them, there could be a total of four blockchains that share the same transaction history of the original Bitcoin blockchain created by Satoshi Nakamoto.

Read More Here >>>    https://news.bitcoin.com/preparing-for-the-bitcoin-hard-forks-a-step-by-step-walkthrough/

[1714853890]

1714853890

[1714853890]

1714853890

[1714853890]

1714853890

[1714853890]

1714853890

[richardsNY]

In easy terms -- just keep your coins offline, where you are the sole owner of your private keys. If you make use of an online wallet service, or exchange that holds your coins, then you fully depend on them to take care of your coins, and it might even go that far, that they end up disabling withdrawals for a certain amount of time, even when it's safe to transact again. I don't understand why anyone wants to be at mercy of whatever centralized service when you yourself can store your coins without any problems.