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Author Topic: Replay protection  (Read 81 times)
MadGamer
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February 03, 2018, 10:31:03 AM
 #1

A hard fork must implement replay protection in order to make it safe for users so they don't lose their bitcoins. If not implemented, would emptying these wallets and then claiming the fork makes it any safer, no more risk of losing the bitcoins?


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February 03, 2018, 10:39:36 AM
 #2

If not implemented, would emptying these wallets and then claiming the fork makes it any safer, no more risk of losing the bitcoins?
You're getting there. The whole reason why replay attacks work is that the same transaction is valid on two different blockchains. If you were to empty your Bitcoin wallet to an address you own and spend the forked coins to a different address, any future transactions made on either of your address cannot be replayed on either of the chain.

Even if someone were to replay your initial transaction, the forked coins would still be in your control.

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February 03, 2018, 01:50:15 PM
 #3

I appreciate the answer. So there is no reason on why I shouldn't use this new service after I move my bitcoins somewhere safe?


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ranochigo
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February 03, 2018, 01:55:19 PM
Merited by HeRetiK (1)
 #4

I appreciate the answer. So there is no reason on why I shouldn't use this new service after I move my bitcoins somewhere safe?
Well, as with most service, there are obvious risks associated with it. As a rule of thumb, your private keys should never be shared with anyone else. If someone happens to send coins to that address or if your identity is tied to that address, your coins could hypothetically be stolen. Especially with seed, you have to consider those addresses compromised once you've exposed it. If you do import your seed there, remember to send the coins to another address not associated with that seed first.

I'm not saying that they aren't un-trustworthy because I haven't tried them myself. I would rather personally spend more effort to just do everything by myself instead of entrusting it to a third party.

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