12/28 SegWit 2x - Move BTC to wallet?

[jcamm]

Hi folks, I was wondering if it is worth moving all my bitcoin from Gdax and Gemini into my Electrum wallet before the SegWit 2x fork on 12/28? I have read that this is the best way to get any new currency that will be added. I am just wondering how important this is since the network is already overwhelmed and the fees are high.

[bitperson]

Hi folks, I was wondering if it is worth moving all my bitcoin from Gdax and Gemini into my Electrum wallet before the SegWit 2x fork on 12/28? I have read that this is the best way to get any new currency that will be added. I am just wondering how important this is since the network is already overwhelmed and the fees are high.

The answer pretty much boils down to whether you believe those exchanges will support the forked coin. It took Coinbase/GDAX several months to offer their customer access to their Bcash. And there's no guarantee than any given exchange will support any given altcoin. But you're right that Bitcoin transaction fees are very high right now.

[Darooghe]

Hi folks, I was wondering if it is worth moving all my bitcoin from Gdax and Gemini into my Electrum wallet before the SegWit 2x fork on 12/28? I have read that this is the best way to get any new currency that will be added. I am just wondering how important this is since the network is already overwhelmed and the fees are high.

Which coin will be created at 28/12?
Bitcoin just get new features like Lighting network. there will be no fork (like Bitcoin cash). no new coin will born again

[BrewMaster]

it is totally up to you and your speculation about the new shitcoin's value.

but if you want my opinion, i say there is a very good chance that it is a worth of time and it probably won't cover the fees you have to pay to transfer your bitcoin.

specially since this new coin which is called SegWit2x has nothing to do with the original SegWit2x and it is stealing their name!
i consider that a shady behavior.

[scottykarate]

Snapshot was probably already taken anyway.

[jcamm]

Thanks for the replies everyone!

 I am new to crypto and it has been exciting to say the least. However, quite confusing at times. I was initially under the impression that the fork was "official" from seeing a few different online posts/articles. They all stated pretty much the same information. I found this thread which I think has given me enough information. It doesn't look like I am going to miss out on anything of value regardless of where my coins are lol.

https://bitcointalk.org/index.php?topic=2595620.0

[SONG GEET]

Hi folks, I was wondering if it is worth moving all my bitcoin from Gdax and Gemini into my Electrum wallet before the SegWit 2x fork on 12/28? I have read that this is the best way to get any new currency that will be added. I am just wondering how important this is since the network is already overwhelmed and the fees are high.

You can also move coins to hitbtc and yobit which will add equivalent amount of b2x when it will be forked, claiming b2x after fork from electrum or your other bitcoin wallets can be pain in a## and you can also lost whatever bitcoin you might have on that wallet when trying to claim some free b2x coin.

But I don't think b2x will have any future.

[jerry0]

Can others confirm here hitbtc will do this or not?  Did hitbtc do this with bitcoin cash, gold, and diamond?  What about the others  like bitcoin united, super bitcoin etc?

[amacar2]

Can others confirm here hitbtc will do this or not?  Did hitbtc do this with bitcoin cash, gold, and diamond?  What about the others  like bitcoin united, super bitcoin etc?

Yeah they have already opened market for this but it is just a future market, when fork will occur real market will open up
https://hitbtc.com/exchange/B2X-to-BTC

Also they gonna support super bitcoin and bitcoin interest announced on their twitter page here https://twitter.com/hitbtc

[jerry0]

So basically hitbtc is the number 1 exchange to keep your btc in if you plan to get your bitcoin fork coins the easiest?  If thats the case, why don't everyone just send their btc there instead and just wait for the forked coins and then withdraw it back to their wallet? 

[Virtual miner]

Hi folks, I was wondering if it is worth moving all my bitcoin from Gdax and Gemini into my Electrum wallet before the SegWit 2x fork on 12/28? I have read that this is the best way to get any new currency that will be added. I am just wondering how important this is since the network is already overwhelmed and the fees are high.

You are the very much correct in thinking this but no one can answer the question better than you because it depends upon the amount of funds you have. B2X futures are currently priced around $600 while btc is near about $15k. With the network so congested average fees goes upto 300 sats/ byte for a swift transaction of few hours. Now calculate that the number of segwit coins you are going to get can cover such a loss. If your answer is yes then move them. Moreover try moving them to Binance or hitbtc or any other coin supporting fork it will be much easier to trade B2X.

[NoFork]

So basically hitbtc is the number 1 exchange to keep your btc in if you plan to get your bitcoin fork coins the easiest?  If thats the case, why don't everyone just send their btc there instead and just wait for the forked coins and then withdraw it back to their wallet? 

Maybe because they are tired with all that stupid forks that harm real bitcoin?

[Anti-Cen]

Many miners are upset about the fork because they know the jig is up where they charge $25-$50 just to process
250 bytes of data and it takes hours just to move digits from one wallet to another but the rest of us will be getting
a late xmas present from this fork on the 28th

Get you coins into a wallet were you own the public key if you don't want the likes of Coinbase to diddle you
out of them and also note that the miners have started to lock up already so allow lots of time to move your
BTC and it might be faster to send them using the snail mail postal system even at a time of year when most
people are at home and not working

The Lightning Network might take six moths to get working and forget about testing because BTC has
had eight years of that and now look at the mess we are in but don't take my word for it and do some
research and the link shown below is a good place to start.
https://www.youtube.com/watch?v=UYHFrf5ci_g
Good video and explains it in plain English  

[Reid]

So basically hitbtc is the number 1 exchange to keep your btc in if you plan to get your bitcoin fork coins the easiest?  If thats the case, why don't everyone just send their btc there instead and just wait for the forked coins and then withdraw it back to their wallet? 

Maybe because they are tired with all that stupid forks that harm real bitcoin?

Or this is a marketing strategy by hitbtc to pull more investors. As plain as that.
A lot of bitcoin users wants the free coin so why not come to that website and risk all your coins. Yeah and there is also a possibility that you will lose all your coins by just a mere reason that they are hacked. Happened before and can still happen now.

[ManaMan]

Many miners are upset about the fork because they know the jig is up where they charge $25-$50 just to process
250 bytes of data and it takes hours just to move digits from one wallet to another but the rest of us will be getting
a late xmas present from this fork on the 28th

Get you coins into a wallet were you own the public key if you don't want the likes of Coinbase to diddle you
out of them and also note that the miners have started to lock up already so allow lots of time to move your
BTC and it might be faster to send them using the snail mail postal system even at a time of year when most
people are at home and not working

The Lightning Network might take six moths to get working and forget about testing because BTC has
had eight years of that and now look at the mess we are in but don't take my word for it and do some
research and the link shown below is a good place to start.
https://www.youtube.com/watch?v=UYHFrf5ci_g
Good video and explains it in plain English  

BTC wasn't designed for this mass adoption. I don't get it why devs don't make blocks to fit the need, they could raise them till like 2MB at least to enable faster processing of transactions. I really don't get this. All of people are mad, this problem needs to get solved as you said LN should take long enough to be in our everyday life, time is now if we want to attract new costumers aka people to join bitcoin ride. Thats exactly why we have many forks in the first place as all of them said enoguh and are trying to push their fork as next bitcoin.


As it goes OP - always keep your coins in wallet where you have private keys, don't let them be on exchanges. Every fork that happens, if we talk about usual chain split, you could use those forked coins. It is a bit hard now to transfer between exchanges back to your wallet and vise versa because of confirmation times and huge fees. But the answer is not to hold them on exchanges either, what will happen if exchange blocks ongoing withdraws you are screwed if you need them urgently or what if they get security breach etc. problem is real here.

[Tasty Potato]

I would load all the numbers in excel and calculate what I might get. But I wouldn't send more than ¹/₄ of the funds I have. And I think the 12/28 is a scam anyway, especially I liked the roadmap image displaying step 5 as implementing "Ethereum smart contracts".

[greeklogos]

I do not have any information which wallets will participate in next SegWith, but if you heard such gossips about Electrum then move all your coins there. I probaply will also follow that to have a little of new coins. Who know, maybe the new coin will raise the same like Bitcoin Cash?!

[Anti-Cen]

BTC wasn't designed for this mass adoption. 

Yes it was and it was in the white paper from that guy that has gone walk about from Japan and it also said
"Near virtually free transaction costs" too and talked about having no inflation but each fork will
double the money supply and that's something called inflation.

Being a software engineer I can understand why it won't scale because all the full nodes need
to hold a full copy of the ledger and then they have to use a link list to go back down the chain
to verify the history of each part coin in a wallet during a transaction and that is plain stupid once
the data gets big. PoW is another stupid joke designed to make power companies (Big Oil) rich
plus keep hardware manufactures in profit with the CPU wars they have created with mining. 

Please do not make excuses for the current state of affairs because it was planned all along, Easter egg
in plain site it was and I hope the new kids on the block get to fix it.

[Youghoor]

Hi folks, I was wondering if it is worth moving all my bitcoin from Gdax and Gemini into my Electrum wallet before the SegWit 2x fork on 12/28?

What are you trying to do? If you want to receive that coin, then the only thing that you need to do is just move all your bitcoins to Binance.

They will give you and distribute the segwitx2 coins to all those who are holding bitcoins at the moment of the fork, so you will instantly receive them all without any hassle.

Just avoid to put your private key in any other place that is not safe.

[jerry0]

Hi folks, I was wondering if it is worth moving all my bitcoin from Gdax and Gemini into my Electrum wallet before the SegWit 2x fork on 12/28? I have read that this is the best way to get any new currency that will be added. I am just wondering how important this is since the network is already overwhelmed and the fees are high.

You are the very much correct in thinking this but no one can answer the question better than you because it depends upon the amount of funds you have. B2X futures are currently priced around $600 while btc is near about $15k. With the network so congested average fees goes upto 300 sats/ byte for a swift transaction of few hours. Now calculate that the number of segwit coins you are going to get can cover such a loss. If your answer is yes then move them. Moreover try moving them to Binance or hitbtc or any other coin supporting fork it will be much easier to trade B2X.

Wow so basically for every 1 bitcoin you own, its basically 600 dollars free then assuming price stays the same?  That means with 2 bitcoin, thats over 1k for free...