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Author Topic: Bitcoin Forks -How to Claim the most valueable ones with Coinomi(trusted wallet)  (Read 334 times)
bitmover
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March 04, 2018, 06:28:24 PM
Last edit: April 16, 2018, 02:31:03 AM by bitmover
Merited by dbshck (4), Mr. Big (2), stingers (2)
 #1

Hello,
Since August 1st with Bitcoin Cash fork, many BTC forks are going on, and some of them are pretty valuable, like BitcoinCash and Bitcoin Gold.
I am a bit paranoid, and I don't like to install wallets from these obscure forked coins in my computer, I am afraid these wallet may be infected with malicious software, virus, whatever.

Coinomi Android Wallet has a very good reputation in cryptocurrency community, and it supports most of these forks. In this guide I will show how easy is to claim them.

First, these are the supported forks:
   Name                  Fork Date         Price USD  (03/03/2018)
   Bitcoin Cash            Aug 1st, 2017         1200
   Bitcoin Gold            Oct 24th, 2017         110
   Bitcore                  Nov 2nd, 2017         18
   Bitcoin Atom         Jan 24th, 2018         17
   Bitcoin Private      Feb 28th, 2018         ?

If you held BTC in any of these dates, you have these coins in your bitcoin address. Not all of them are 1:1, Bitcore is 1:0.5 ratio (0.5 BTX for each BTC you own).

To claim them, follow these steps:

1 - Move all your Bitcoin (BTC) to another wallet, with a different seed phrase. (Most Important Step)

2 - Download Coinomi wallet:
https://play.google.com/store/apps/details?id=com.coinomi.wallet

2 - In Coinomi, add these coins: Bitcoin Cash, Bitcoin Gold, Bitcore, Bitcoin Atom and Bitcoin Private.


3 - In browser private mode or in a offline computer, go to this website (BIP39 Mnemonic Code):
   https://iancoleman.io/bip39/
   insert you recovery phrase (Remember to move all your bitcoin from this wallet first!! Step 1)
   In Coin textbox, choose Bitcoin.
   Still in BIP39 Mnemonic Code website, scroll down to Derived Address.


4 - Open your Coinomi Wallet and open each of your forked coins wallet. Click on QR Code Icon (top right corner) and scan each Private Address QR Code shown on bip39 website you just opened, until you have claimed them all.

5- Do this to every forked coin.

I have successfully claimed all these coins following the steps above.
There are many more Bitcoin Forks around (most are shown on btcdiv.com), but I haven't claimed them yet since they are not supported from any trusted third party wallet yet. If you know any, tell me please.

images from https://coinomi.freshdesk.com

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TerezaMay
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March 04, 2018, 08:23:19 PM
 #2

Hello, your text came out of the series.
Paranoia is everything, security is not enough.
Recently I tried to find a way to compose my own seed phrase to compose a private key of ETH, I could write my own algorithm, but it was not worth my time.
Instead, I downloaded an offline MEW and now don't worry about online registration.
cry4crypto
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March 04, 2018, 10:26:45 PM
 #3

Worth noting that this will not work with SegWit addresses since they are not supported by Coinomi.
bitmover
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March 04, 2018, 10:36:17 PM
Last edit: March 20, 2018, 02:38:17 PM by bitmover
 #4

Worth noting that this will not work with SegWit addresses since they are not supported by Coinomi.
You are wrong. This method works for Segwit P2SH addresses. It doesn't work for bech32, which are only supported by core and electrum. But you can't recover any forks using Bech32, as far as I now.

as a true hodler I moves my BTC out of my Legacy address just recently, to reclaim those forks. And moved them to a P2SH Segwit address.

I think my situation will be same as many here. It's not worth nothing.

angelitto74
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March 06, 2018, 10:32:23 AM
 #5

You DONT need to send your BTC out to a different wallet. All you need is a new address inside your existing wallet. That address has a different privatekey, and that is enough for forks that dont employ replay protection (all the ones we support do).
bitmover
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March 30, 2018, 10:14:07 AM
 #6

You DONT need to send your BTC out to a different wallet. All you need is a new address inside your existing wallet. That address has a different privatekey, and that is enough for forks that dont employ replay protection (all the ones we support do).

be careful with your funds.

If you recover through this method using the Recovery Phrase (or seed phrase, whatever you call it) you expose all the private keys in that wallet.

If you use only the private address of each public address, you are right. This is not the case.

bitmover
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May 11, 2018, 06:10:08 PM
 #7

Now Coinomi supports segwit. THis method should work with any address.

angelitto74
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September 06, 2018, 07:37:37 AM
 #8

Now Coinomi supports segwit. THis method should work with any address.


Semi-necroing, so I apologise beforehand.

"Supports SegWit" might be an understatement nowdays.

Coinomi supports Native, Compartibility and Legacy modes for:

Bitcoin
Bitcoin Atom
Bitcoin Gold
Bitcore
Digibyte
FujiCoin
Groestlcoin
Litecoin
Vertcoin
Viacoin

Note that not all of those coins have segwit paths in the upstream tool (https://iancoleman.io/bip39/ ) while some of them have their own tool, since they either haven't PR'd their code to Ians or they use a different curve that Ian's tool does not yet support:

Smartcash -- https://github.com/iancoleman/bip39/issues/191
Groestl -- https://groestlcoin.org/bip39-standalone.html
Decred -- We're still waiting for correspondence from their team on the subject.

Note that you don't need to "download an offline mew" just download the upstream tool offline to play around with seeds.

Angelos from Coinomi

neotenie
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June 16, 2019, 12:00:58 PM
Merited by Lucius (1)
 #9

1 - Move all your Bitcoin (BTC) to another wallet, with a different seed phrase. (Most Important Step)

This is exactly the step I do not understand!
If I must have my btc before the fork and I do move them, then I loose the proof that I had them before?

What did I get wrong?

THANKS.
Lucius
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June 16, 2019, 12:20:39 PM
Merited by dbshck (2), DdmrDdmr (1)
 #10

neotenie, to claim those forked coins you need to have bitcoin in your wallet in time when the fork happens, and then that forked coins are always associated with the relevant address where you hold your bitcoin. You move bitcoin before fork coins claim for security reasons, just in case you download fake wallet or in any other way expose your private keys / seed. In this way your bitcoin is safe in new wallet, and that is most important.

That proof that you have bitcoin in time of fork is something that is on blockchain, and that information stays there even when you move bitcoin to new wallet / address.

neotenie
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June 16, 2019, 12:35:17 PM
Merited by DdmrDdmr (2)
 #11

That proof that you have bitcoin in time of fork is something that is on blockchain, and that information stays there even when you move bitcoin to new wallet / address.

Thanks for your fast answer.

If I move my old coins, it is the same as if I sell them to someone else, isn't it?
That would means that even if I have sold them, I still can get the new coins??
That is puzzling me...

Greetings!
bitmover
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June 16, 2019, 12:49:12 PM
Merited by suchmoon (4), DdmrDdmr (1)
 #12

If I move my old coins, it is the same as if I sell them to someone else, isn't it?
That would means that even if I have sold them, I still can get the new coins??
That is puzzling me...

Greetings!

THe fork is a snapshot (like a picture) of the blockchain in the date of the fork.

If you move your coins before the fork, your address will not have the new forked coins.

If you move after the fork it doens´t matter, as the snapshot was taken before you move the coin. In this case, your address will still have the balance of the forked coins.

You received the forked coin in the date of the fork, not after.

Lucius
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June 16, 2019, 12:59:05 PM
 #13

If I move my old coins, it is the same as if I sell them to someone else, isn't it?
That would means that even if I have sold them, I still can get the new coins??

There is no difference in the way you move coins, in new wallet under your control or to some exchange where you can sell it for fiat or for some other coin. It is only important to have bitcoin in your address in time of fork, after that bitcoin can be moved as many times as you want.

I'm personally claim only BCH, other forks are pretty worthless - but since I still have my seed where my BTC was in time of forks it is never later to do that. In fact there are no time limit for claim such coins, the only thing that is changing is their price.

neotenie
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June 20, 2019, 08:49:38 AM
 #14

I'm personally claim only BCH, other forks are pretty worthless -

What about BitcoinSV?
gentlemand
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June 20, 2019, 09:44:58 AM
 #15

I'm personally claim only BCH, other forks are pretty worthless - but since I still have my seed where my BTC was in time of forks it is never later to do that. In fact there are no time limit for claim such coins, the only thing that is changing is their price.

There have been plenty of other forks that were worth claiming and in most of their cases there definitely was a time limit as they became worthless or the chain died.

Bitpie/Bither allowed you to claim some of the obscure ones. On checking some of them again the other day most of them are now stuck in there forever.
bitmover
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June 20, 2019, 10:25:41 AM
 #16

There have been plenty of other forks that were worth claiming and in most of their cases there definitely was a time limit as they became worthless or the chain died.

Time is essencial when claiming those forks. That´s a problem, because good wallets (or at least functional wallets) take some time to support those forks. THen you have to go to shady wallets and shady exchanges to trade them... but most of the time they are worth claiming if you act fast. Look at OP prices, there was quite some money for a full btc.

Quote
Bitpie/Bither allowed you to claim some of the obscure ones. On checking some of them again the other day most of them are now stuck in there forever.
I could never make that wallet work, and I never trusted it. So confusing and I was never able to receive any btc from the forks I saw my balance there....

gentlemand
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June 20, 2019, 10:33:35 AM
 #17

I could never make that wallet work, and I never trusted it. So confusing and I was never able to receive any btc from the forks I saw my balance there....

I have managed to send out of it, but you're right. They're not to be trusted and it's a very stupid set up they had.

They had an in wallet exchange that was pretty much the only place to get rid of many of them. They pulled it with no warning whatsoever. That says plenty.

Only stick your junk keys in there after anything else with any value has been moved.


Time is essencial when claiming those forks. That´s a problem, because good wallets (or at least functional wallets) take some time to support those forks. THen you have to go to shady wallets and shady exchanges to trade them... but most of the time they are worth claiming if you act fast. Look at OP prices, there was quite some money for a full btc.

In the height of fork season there was a guy on a Reddit sub devoted to forks signed up with all the piece of shit exchanges and running scripts that could move some of them shitforks. He dumped on your behalf and took a cut. I should've used him.
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