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fcode (OP)
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December 20, 2017, 06:50:00 PM |
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This applies to all coin forks but since there have been so many Bitcoin forks lately it's the most appropriate to demonstrate the issue.
So everyone hopefully knows you should move your original BTC to a new wallet after a fork and before importing your old wallet in to one of these forks. This prevents the forked client from stealing your original BTC.
However, if several forks happen between the time you move your original BTC then you're in a tough spot because although you can still protect your original BTC, there is no way to protect all the other forks from stealing coins from each other.
Consider this situation:
1. You have BTC in your BTC client wallet "A".
2. Bitcoin Alpha fork happens. You're like "whatever" and don't do anything.
3. Bitcoin Beta and Charlie fork happen at the same time. Meh...
4. Bitcoin Delta happens.
5. OK, maybe it's time to claim these forked coins.
6. You move your original BTC from wallet "A" to a new wallet "B". It's safe.
7. Now in order to get some Alpha, Beta, Charlie, and/or Delta coins you have to import your wallet or private key from old wallet "A". There is no other way to do it. This means all the forks have to use the same wallet/private key(s) from old wallet "A". See the problem? All with the same private key, now any of the forks can access the coins of any other fork until you move the coins on those forks.
So you would want to use/import the forks in the order that you trust them (from most trusted to least trusted) but it's a gamble. Once you have coins on a new fork you want to move them to a new wallet on the fork. This will protect them from the other forks.
The only way to protect against this would be to move your original BTC in between each fork (or not use the forks at all). However, that can be expensive in fees and in the case of a Beta/Charlie simultaneous fork it would be impossible (this happened with BitcoinX and SuperBitcoin).
To be clear again, this only applies in the situation where you have multiple forks happening in between the movement of your original BTC.
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tk808
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Invest in your knowledge
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December 20, 2017, 06:54:29 PM |
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I agree, well since everyone and his brother wants to make a fork, every new fork becomes less and less worthless. You can see this by the MCAPS, but there will be 5 bitcoin forks in the top 10 soon, and they will all rise inversely to Bitcoins gains. Despite that, the concept around forks is greed, get rich quick nasty shit.
Nothing that we don't see on the real traded exchanges though, where companies actually kill and fuck people over to make a bottom line. Looking in that perspective Crypto's are a saint still.
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fcode (OP)
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January 10, 2018, 02:13:31 PM |
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Yet more forks popping up all over the place. I can't even keep track of them.
Has anyone made a list of all bitcoin forks along with the block number they forked at? A list of forks-of-forks would be useful too (eg. some bitcoin cash fork is upcoming; bitcoin candy or something).
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qazgroup
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RiveMont
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January 10, 2018, 04:28:08 PM |
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I know moving to different wallets can be risky, i do not change wallets and keep them in only my personal wallet, i know of another bitcoin fork that will be released soon it is called bitcoin clean. Im hopeful that it will be good.
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jdbao
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January 11, 2018, 01:41:00 AM |
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I'm sorry, because I don't understand this very well, so there's a problem.
What I don't understand is, since bitcoin has a signature function, why don't you use signature to get it? It should be very safe, is it too simple for me to think about? Or, is there any technical problem?
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KevenDabid
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January 11, 2018, 01:46:45 AM |
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Random transfer private key to these fork is obviously a very dangerous thing, generally speaking, I will put the btc on exchange, then they will help us deal with the fork.
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weav
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- "Bitcore (BTX) - Airdrops every Monday"
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January 11, 2018, 01:59:26 AM |
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People already got burned by btg. Best thing to do is make sure you move your bitcoin before claiming and claim the forks and move that to.
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deeofficialx
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January 11, 2018, 02:04:45 AM |
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I actually don't support fork, ever since. And I think, they (those who said that they were supporting fork) just want to make a profit then sooner or later will dump also.
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STIKS1911
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January 11, 2018, 02:13:42 AM |
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I believe that in most cases all these forks create speculative coins. To make money for them and that's it.
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fullhousse
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January 11, 2018, 02:17:02 AM |
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Warren Buffet is saying that nothing good will happen to cryptocurrencies. He doesn't seem to be a person that knows something about these things. What do you think?
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rollingstorm45
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January 11, 2018, 02:23:05 AM |
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fork in bitcoin tidka can be done as easy as we think
the blockchain from Bitcoin also has some consideration in doing the fork, so it can be safe
thank you already reminded, maybe it could happen this so we must be vigilant
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Agetan
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January 11, 2018, 02:31:27 AM |
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I know moving to different wallets can be risky, i do not change wallets and keep them in only my personal wallet, i know of another bitcoin fork that will be released soon it is called bitcoin clean. Im hopeful that it will be good.
This fork is really annoying me. This fork just to make new rich people from the developer. This is healthy project to make a lot of fork. Although the fork coin will make their own fork. What the hell is this. |
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