bitcoin fork questions for BTC and BCH

[TeePee]

Hello,

I have a question: I NEVER claimed any new crypto that was created out of the original Bitcoin.
This means at the beginning of 2017 I had a couple of Bitcoins in my Electrum wallet but because I am lazy and not very technical, I never claimed the BCH and Bitcoin Gold (and possibly any other new cryptos) that were produced out of the forks. I always thought: I will just do it later on, because it will always be possible to claim them at any point (this is true, right?) and I will do it when I get some help from a more technical person.

But now I heard BCH is getting a hard fork too. Does this bring problems for people like me who never even claimed their original BCH? Is it all good and I can still wait months or years if I want to claim both the new BCH-crypto? Or do I need to have claimed the original BCH before Nov 15 if I want to be able to get the two new varieties?

[pooya87]

your "coins" are not stored in your wallet. they are stored in the "database" which is known as the blockchain and when a coin copies that database it also copies the "coins" you own. claiming a coin means you spend those coins like you spend bitcoin, the coins that already exist in the copy or copy of copy.

i other words if you had bitcoin when bitcoin-cash forked, you still have BCH and will have any fork of BCH like the BSV fork.

[TeePee]

your "coins" are not stored in your wallet. they are stored in the "database" which is known as the blockchain and when a coin copies that database it also copies the "coins" you own. claiming a coin means you spend those coins like you spend bitcoin, the coins that already exist in the copy or copy of copy.

i other words if you had bitcoin when bitcoin-cash forked, you still have BCH and will have any fork of BCH like the BSV fork.

Excellent, so I don't need to rush it. I can claim it all even in years from now?

Even when the coins from 2017 are no longer in my wallet? All that counts is that I had a balance on the fork dates?

[pooya87]

your "coins" are not stored in your wallet. they are stored in the "database" which is known as the blockchain and when a coin copies that database it also copies the "coins" you own. claiming a coin means you spend those coins like you spend bitcoin, the coins that already exist in the copy or copy of copy.

i other words if you had bitcoin when bitcoin-cash forked, you still have BCH and will have any fork of BCH like the BSV fork.

Excellent, so I don't need to rush it. I can claim it all even in years from now?

Even when the coins from 2017 are no longer in my wallet? All that counts is that I had a balance on the fork dates?

yes, any fork that has rules similar to BCH fork and don't have anything strange* added will remain there and you can claim it anytime you want.

* i think it was a fork called United Bitcoin by J. Garzik that had a rule that only coins with certain "age" were claimable. for example if you had coins (transaction output) that was created more than 2 years before the fork date, it didn't belong to you anymore!

[TeePee]

your "coins" are not stored in your wallet. they are stored in the "database" which is known as the blockchain and when a coin copies that database it also copies the "coins" you own. claiming a coin means you spend those coins like you spend bitcoin, the coins that already exist in the copy or copy of copy.

i other words if you had bitcoin when bitcoin-cash forked, you still have BCH and will have any fork of BCH like the BSV fork.

Excellent, so I don't need to rush it. I can claim it all even in years from now?

Even when the coins from 2017 are no longer in my wallet? All that counts is that I had a balance on the fork dates?

yes, any fork that has rules similar to BCH fork and don't have anything strange* added will remain there and you can claim it anytime you want.

* i think it was a fork called United Bitcoin by J. Garzik that had a rule that only coins with certain "age" were claimable. for example if you had coins (transaction output) that was created more than 2 years before the fork date, it didn't belong to you anymore!

Okay thanks for the info, I will claim my coins for sure before the summer of 2019 so that should be fine in any case.

[cellard]

(this is true, right?) and I will do it when I get some help from a more technical person.

It's true as long as the blockchain of the fork is still running. For instance, Bitcoin Gold (BTG) I think suffered from 51% attacks. This is what happens with altcoins, eventually it becomes profitable to attack them. I reckon the attacker stole a bunch of coins and mixed them with Monero, he was never caught.

Also be sure to NOT install any of the software involving altcoins within your computer, use a separate computer. Also DO NOT enter your private keys on websites which claim to give you access to the fork coins to claim them.

I remember Bitcoin Diamond for instance, was compromised and a total disaster. In fact, apparently there isn't a source code:

https://medium.com/@btcblooddiamond/bitcoin-diamond-is-a-scam-of-epic-proportions-7d7908c43c22

Consider if it's really worth the risk of claiming any of these altcoins. At this point I would most likely just be bothered enough to claim the BCHABC and BCHSV coins (you should have both as far as I know)

[HeRetiK]

It's true as long as the blockchain of the fork is still running. For instance, Bitcoin Gold (BTG) I think suffered from 51% attacks. This is what happens with altcoins, eventually it becomes profitable to attack them. I reckon the attacker stole a bunch of coins and mixed them with Monero, he was never caught.

Yet Bitcoin Gold still keeps on ticking

But very true, while you don't need to hurry with getting your fork coins, there's also a chance that they won't be worth much once you get around to extracting them (case in point: the current bear market).

Also be sure to NOT install any of the software involving altcoins within your computer, use a separate computer. Also DO NOT enter your private keys on websites which claim to give you access to the fork coins to claim them.

I remember Bitcoin Diamond for instance, was compromised and a total disaster. [...]

Something similar happened with Bitcoin Gold:

https://bitcoingold.org/critical-warning-nov-26/


OP, the above comment by cellard should be your main takeaway. Assume that any fork coin wallet is compromised and take care of security accordingly. Lest you get your coins stolen:

https://bitcointalk.org/index.php?topic=5080741.0

[bitmover]

Okay thanks for the info, I will claim my coins for sure before the summer of 2019 so that should be fine in any case.

Your coins will still be  claimable in summer 2019, however there is no guarantee that wthey will still be worth as much as they are now.
Historically, every bitcoin fork goes to zero after some time. All of them are almost worthless now, but bch.

Btcd and btg are worth very few dollars (about 10 USD per bitcoin, and they were once worth near 450).

So I would not post phone too much. No hurry, but there is a risk.

[galactic123]

You most likely need to download a Bitcoin Cash wallet, a Bitcoin Gold wallet, etc, and import there your bitcoin address(es) that had the bitcoins using your Bitcoin private keys.

[Lucckyzera]

You most likely need to download a Bitcoin Cash wallet, a Bitcoin Gold wallet, etc, and import there your bitcoin address(es) that had the bitcoins using your Bitcoin private keys.

Where can I download this wallets?

[bitmover]

You most likely need to download a Bitcoin Cash wallet, a Bitcoin Gold wallet, etc, and import there your bitcoin address(es) that had the bitcoins using your Bitcoin private keys.

Where can I download this wallets?

You can download one wallet that support all of those more common forks. There are some around.

I use coinomi, which supports many of them.

Ledger nano also supports some.

There are some new untested wallets such as magnum and atomic wallet which supports many forks also.

[HCP]

You most likely need to download a Bitcoin Cash wallet, a Bitcoin Gold wallet, etc, and import there your bitcoin address(es) that had the bitcoins using your Bitcoin private keys.

Where can I download this wallets?

Bitcoin Cash - https://www.bitcoincash.org/wallets.html
Bitcoin Gold - https://bitcoingold.org/downloads/ (full node client) or https://bitcoingold.org/electrumg/ (light weight SPV wallet)