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Author Topic: What to do for Nov 2017 hard fork.  (Read 5050 times)
BitcoinWatcher
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October 25, 2017, 12:10:27 AM
 #1

Hey I have my BTC in electrum. What can I do to make sure I will get my fork coin? And are most people planning on selling right away just like BTC Cash and sticking with original BTC?
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October 25, 2017, 05:21:29 AM
 #2

There is pretty much nothing you have to do about it. You just have to hold your coins in the wallet.
Make sure you have the backup of your wallet and you have the private key stored in a safe place.
After the fork is done, download the wallet that supports the coin and then import the private key to that wallet.
After syncing the coins will be credited to your wallet.

       


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October 25, 2017, 06:07:26 AM
 #3

OP be very careful. This fork is not like Bitcoin Cash which the developers have included replay protection in the code. Segwit2x/btc1 does not have replay protection. The best move is to do nothing during and after the fork, and wait for some of the developers to make the tools and instructions on how to "split" your coins safely.

If you want to take the risk, store some of your coins in an exchange who already announced that they will honor B2X for your BTC.


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October 25, 2017, 06:10:39 AM
 #4

Segwit2x/btc1 does not have replay protection.
It does.

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October 25, 2017, 06:19:45 AM
 #5

The best thing you can do before the fork is just do nothing. You are using electrum, which is perfect to get your coins split without problems. Now all you have to do is not send any transactions prior, during and after the fork to ensure you don't lose your bitcoin gold or bitcoin.
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October 25, 2017, 06:56:29 AM
 #6

I agree that we should do nothing when hard fork comes. It might be one of the big whales strategy to buy more bitcoin during blood bath on the market. As always, your bitcoins are safe in hard wallets. Just store your hard wallets in the darkest and safest place of your house. Hahaha

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October 25, 2017, 07:52:37 AM
 #7

I've got some dollars sitting in my domain name registrar account, and I can withdraw those in Bitcoin. I'm still undecided as to whether I should pull them out now, or wait until the forking nonsense has subsided. It seems that a lot of people have been buying Bitcoin in the expectation of another free handout as an alt coin is created.

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October 25, 2017, 11:10:03 AM
 #8

btw, I am wondering what would happen if some transaction will be sent during the hard fork. What can be the logic flow behind that leads to loosing of funds for some user (sender or receiver)?
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October 25, 2017, 11:37:26 AM
 #9

The best way to safely gain access to your BTG is to do nothing until fork happened.
Afterwards you better wait a few days until the whole network settled down.
Then you should split your coins (keep in mind, there is no replay protection).
This means you have to be careful. Send your BTC onto another wallet (or another address, but not within the wallet..)
At this point at least your BTC's are safe. Then import your priv keys into a wallet which support your forked coin (e.g. BTG).
Afterwards you can send/spend/trade your BTG.

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October 25, 2017, 11:50:10 AM
 #10

OP be very careful. This fork is not like Bitcoin Cash which the developers have included replay protection in the code. Segwit2x/btc1 does not have replay protection. The best move is to do nothing during and after the fork, and wait for some of the developers to make the tools and instructions on how to "split" your coins safely.

If you want to take the risk, store some of your coins in an exchange who already announced that they will honor B2X for your BTC.
OP, I'm afraid Wind fury was right concerning replay issue and a lot of conspiracy is going on in the world of bitcoin. However, Electrum is a lightweight wallet and works by allowing you to use someone else’s full node for sending and receiving transactions while you don’t actually maintain the entire blockchain.
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October 25, 2017, 01:12:28 PM
 #11

btw, I am wondering what would happen if some transaction will be sent during the hard fork. What can be the logic flow behind that leads to loosing of funds for some user (sender or receiver)?
if it is still unconfirmed during the snapshot, i think it will be credited to the sender
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October 25, 2017, 01:35:32 PM
 #12

Thank you for suggestions guys, I think that it's better to wait for some time...
Don't want to loose my bitcoins.
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October 25, 2017, 01:35:38 PM
 #13

You can consider buying some good ICOS's during November Bitcoin update if you watch closely cryptocurrency markets. Just buy some Etherum with FIAT or spare bitcoin and invest in one of current ICO's or Top 10 coinmarketcap coins. During Bitcoin fork, I would not advise use you BTC just keep them in the wallet. Other alts price can be affected by looking at historical data and can have a great opportunity to buy on dips if you an experienced user.
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October 25, 2017, 04:40:28 PM
 #14

just hold. and dont do anything. you used electrum, so you will get benefit from this fork. i dont know why people always confused when fork coming..

                          
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October 25, 2017, 08:25:51 PM
 #15

I think that the Altcoins will reduce by as much as 30%. It's a good idea to stay on standby at Bitcoin. Waiting for 7000 USD + levels in Bitcoin will not be a very high expectation. To say that this is already happening, it means that the prices of the current alt coins will increase as I mentioned.

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October 25, 2017, 09:00:09 PM
 #16

Hey I have my BTC in electrum. What can I do to make sure I will get my fork coin? And are most people planning on selling right away just like BTC Cash and sticking with original BTC?

UTXOs at the fork block will be copied exactly. that means that any addresses in your electrum wallet that hold BTC will also hold B2X after the fork. however, you can't simply send the B2X coins out of that wallet. you will lose your BTC by doing so because there is no replay protection -- the transaction will be broadcast on both chains. i would be careful and avoid transacting after the fork if you want to make sure to retain both coins. i'm sure some reliable methods will emerge to split our coins.

no one knows regarding future demand for B2X. if miners and major services really follow through, the price might be significantly higher than the futures market currently indicates. we really don't know. in time, i believe the legacy chain will emerge victorious, but i won't be so foolish to immediately dump my B2X for ideological reasons. i'm trying to accumulate bitcoins here!

FYI this is a good site to track electrum servers to connect to. you can connect to Core servers rather than connecting randomly.

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October 25, 2017, 09:00:47 PM
 #17

Hey I have my BTC in electrum. What can I do to make sure I will get my fork coin? And are most people planning on selling right away just like BTC Cash and sticking with original BTC?
If I were you I will just keep my coins in my wallet as I do believe electrum will support bitcoin gold. I have gotten my splitting coin from all the wallet that I have coins during the last splitting between bitcoin core and bitcoin Cash and I will do the same this time around. The only thing we may need to do before the splitting is to move both fiat and others coins to our bitcoin wallet like I do about three days ago and keep our fingers crossing and converting to bitcoin core after the splitting of our share of the bitcoin gold before the heavy dump.

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October 25, 2017, 09:09:17 PM
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bencede beklemek gerekiyor sıkıntılı
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October 25, 2017, 09:26:26 PM
 #19

Before the fork, make sure you get the coin to a wallet you have private key access. And after the fork, make sure there is clear instruction on how to split the coins before making any transactions. Personally, I might leave a couple in the exchange like bittrex, binance etc, so that you can start trading as soon as it's available.

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October 25, 2017, 09:33:11 PM
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OP be very careful. This fork is not like Bitcoin Cash which the developers have included replay protection in the code. Segwit2x/btc1 does not have replay protection. The best move is to do nothing during and after the fork, and wait for some of the developers to make the tools and instructions on how to "split" your coins safely.

If you want to take the risk, store some of your coins in an exchange who already announced that they will honor B2X for your BTC.
OP, I'm afraid Wind fury was right concerning replay issue and a lot of conspiracy is going on in the world of bitcoin. However, Electrum is a lightweight wallet and works by allowing you to use someone else’s full node for sending and receiving transactions while you don’t actually maintain the entire blockchain.

And it's the same for those storing their Btc in webwallets. Even we don't maintain the blockchain by running a node, Blockchain.info (famous one) is a high rated webwallet and has a large number of bitcoin holders. Since a lot of conspiracy is going on in the world of bitcoin, majority of users get confused when protecting their coins and want at the same time assure the fork amount to be credited to their choosen wallet.

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