Forks

[Hi_its_me]

Hi all! Thinking of selling my BTC, I don't have much, but personally I think it's value has topped so it could be a good moment to jump off (of course, this means you are all in luck because just 3 seconds after I sell, the value of BTC will increase 10 fold). I thought it would have changed to a much more user friendly environment by now, however, the crypto world is still an incredibly hostile place for people like me who aren't too digitally inclined, so it's probably time for me to get out. There is something I'd like to ask though, relative to this thing called a "fork", I posted about it a few years back but I guess things would have changed by then. Are there any worthwhile forks that I should be chasing up after I sell my BTC ?  Thanks.

[0t3p0t]

Hi all! Thinking of selling my BTC, I don't have much, but personally I think it's value has topped so it could be a good moment to jump off (of course, this means you are all in luck because just 3 seconds after I sell, the value of BTC will increase 10 fold). I thought it would have changed to a much more user friendly environment by now, however, the crypto world is still an incredibly hostile place for people like me who aren't too digitally inclined, so it's probably time for me to get out. There is something I'd like to ask though, relative to this thing called a "fork", I posted about it a few years back but I guess things would have changed by then. Are there any worthwhile forks that I should be chasing up after I sell my BTC ?  Thanks.

For now I haven't heard of coming forks yet other than the coming halving but forked coins let you earn extra cash so hodling your Bitcoins would be a great way get some. Since it's your investment I think selling is still good for you as long as you got your profits with you. Selling your coins is better than losing it all because of something like losing your keys.

[ranochigo]

Hi all! Thinking of selling my BTC, I don't have much, but personally I think it's value has topped so it could be a good moment to jump off (of course, this means you are all in luck because just 3 seconds after I sell, the value of BTC will increase 10 fold). I thought it would have changed to a much more user friendly environment by now, however, the crypto world is still an incredibly hostile place for people like me who aren't too digitally inclined, so it's probably time for me to get out. There is something I'd like to ask though, relative to this thing called a "fork", I posted about it a few years back but I guess things would have changed by then. Are there any worthwhile forks that I should be chasing up after I sell my BTC ?  Thanks.

If you have your funds in a single address, here's a nifty website to help you check it: http://www.findmycoins.ninja/

Short answer is probably not, but it could be better than nothing.

[Hi_its_me]

Thanks for the replies, however, that bitcoin ninja fork finder site doesn't work, I have however been able to find at least one relevant fork - BCH (Bitcoin Cash). Is there another site like this Ninja one that can locate forks? Or someone who could simply mention the name of any other forks? My address has been sitting on the blockchain since 2015, that's a long time in the crypto world. Thanks.

[mocacinno]

Thanks for the replies, however, that bitcoin ninja fork finder site doesn't work, I have however been able to find at least one relevant fork - BCH (Bitcoin Cash). Is there another site like this Ninja one that can locate forks? Or someone who could simply mention the name of any other forks? My address has been sitting on the blockchain since 2015, that's a long time in the crypto world. Thanks.

There are indeed some limitations on findmycoins.ninja website. I to have noticed that, for some of my addresses, it doesn't work.

Some googeling around turned up https://someone235.github.io/btc-forks-balance/ (i did not test it tough)
Here seems to be a list of forks (also, untested): https://forkdrop.io/ but you'll have to find explorers and convert addresses manually

Or, if you care to mess around with some code, i once wrote this tool: https://github.com/mocacinno/mocacinnoforkchecker
However, i wrote it like 3 years ago, and never gave it an update, so it probably won't run out-of-the-box anymore (it's possible the hardcoded explorers went offline, or the format changed, or you no longer have python 2.7 available, or...)

In the end, except for one or two of the biggest forks, it probably won't be worth your effort to claim these forks... Most of them are worth pennies...

That being said: do make sure you don't start importing private key(s) into altcoin wallets to claim those forks BEFORE emptying out your BTC wallet! Some of those altcoin wallets are "fake" and collect your private key(s), other chains have problems that might cause issues on the bitcoin chain... So avoid problems by emptying out your bitcoin wallet BEFORE even making an attempt to claim those forked altcoins

[Hi_its_me]

Thanks for your reply, Mocacinno, I will definitely heed your warning. You said that maybe there are only one or two forks worth following up, would you care to name these please?

I'm still in two minds about selling, some days I have my doubts and start thinking I should just keep my Sats but most days I'm simply worried that a hacker will get them. I created the address in 2015 using bitaddress.org (a brainwallet) - and yes, surprisingly the funds are still there, luckily, I used a pretty complex sequence of words and symbols, which I find far easier to remember than a 24 word mnemonic plus passphrase. But I'm concerned because computers are getting more powerful, providing hackers with greater resources. It's in a legacy address as well, and I've heard that these are less secure (don't know if that's true or not).

[20kevin20]

The best thing you can do is looking up these forks by yourself and finding out whether, in your own opinion, any of them have an actual future or not. Most of these coins are either being used or looked at as testing grounds for BTC future updates or straight shitcoins. I would rather invest in BTC than sell it and move the money to shitcoins and forks. Just my 2c though.

[verita1]

If it's time to get out of your bitcon and you have studied it well. Taking into account that the price of could rise without precedent. Going out now you will likely make a profit for it.

Everyone also has her / his life projects and if it is time to leave it is an understandable decision. I would not sell it, I would diversify my portfolio one (%) of bitcoin in the long term and one (%) of some altcoins for the short and medium term.

[dothebeats]

Thanks for the replies, however, that bitcoin ninja fork finder site doesn't work, I have however been able to find at least one relevant fork - BCH (Bitcoin Cash). Is there another site like this Ninja one that can locate forks? Or someone who could simply mention the name of any other forks? My address has been sitting on the blockchain since 2015, that's a long time in the crypto world. Thanks.

2015? Bitcoin Cash is the one that I can think of that is relevant, or something that still has some value up until now.

There are a lot more though most of them are only good, or only had value at the time of their launch and a few months/weeks after. Then they died out.

Thanks for your reply, Mocacinno, I will definitely heed your warning. You said that maybe there are only one or two forks worth following up, would you care to name these please?

I'm still in two minds about selling, some days I have my doubts and start thinking I should just keep my Sats but most days I'm simply worried that a hacker will get them. I created the address in 2015 using bitaddress.org (a brainwallet) - and yes, surprisingly the funds are still there, luckily, I used a pretty complex sequence of words and symbols, which I find far easier to remember than a 24 word mnemonic plus passphrase. But I'm concerned because computers are getting more powerful, providing hackers with greater resources. It's in a legacy address as well, and I've heard that these are less secure (don't know if that's true or not).

Then perhaps it's time to migrate them over to the a new, improved, and safer wallet to clear these thoughts from your mind. There are tons of tutorials on how to do this safely without the risk of your wallet and funds being compromised. While you remain undecided on whether to let go of bitcoin completely or not, it's best to move it in the mean time in order to not cloud your judgment regarding the matter.

Bitcoin will remain to be volatile no matter the cycle, the year, or whoever is involved (traders) for as long as it remains to be unregulated and not closely monitored by the government.

[dansus021]

That being said: do make sure you don't start importing private key(s) into altcoin wallets to claim those forks BEFORE emptying out your BTC wallet! Some of those altcoin wallets are "fake" and collect your private key(s), other chains have problems that might cause issues on the bitcoin chain... So avoid problems by emptying out your bitcoin wallet BEFORE even making an attempt to claim those forked altcoins

yes is true and it happen in one community there is airdrop called STX from blockchain and there is scammer made Apk for the android and claim can withdraw the airdrop and result the APK was fake and right now they hunt them the scammer . so we need to carefully

[mocacinno]

Thanks for your reply, Mocacinno, I will definitely heed your warning. You said that maybe there are only one or two forks worth following up, would you care to name these please?

I'm still in two minds about selling, some days I have my doubts and start thinking I should just keep my Sats but most days I'm simply worried that a hacker will get them. I created the address in 2015 using bitaddress.org (a brainwallet) - and yes, surprisingly the funds are still there, luckily, I used a pretty complex sequence of words and symbols, which I find far easier to remember than a 24 word mnemonic plus passphrase. But I'm concerned because computers are getting more powerful, providing hackers with greater resources. It's in a legacy address as well, and I've heard that these are less secure (don't know if that's true or not).

Sure, i can name those forks... But let's be clear from the beginning: this is NOT an endorsement... Some of those forks are made by some really shady people (not going to name names here), some forks are insecure... I'm just looking at which ones would be worth your troubles of going trough the claim process and selling them on an exchange...

BCH is worth little over $200/BCH... So if you have more than 0.5 BCH, it might be worth looking into...
BSV is worth little over $150/BSV... So same thing, if you have >0.5 BSV, it might be worth claiming and selling them.
BTG, BTC, BTX, GOD and SBTC are worth between $10 and $1.... If you own more than $100 worth of these coins, it might be ok to sell them.

All the rest is <$1/coin, i wouldn't risk anything, nor spend time selling them at this point in time myself... In the (very, very, very) small chance their exchange rate would ever go upwards in the future, you still own those unspent outputs on those chains... Claiming forked coins is not time limited, as long as the coin is live, you own those unspent outputs...

Before attempting to claim, read my previous post (the text in bold, red letters)!

As for your second question: on a technical level, a legacy address is not less secure.... BUT, a brainwallet IS!!! So, in your case, it might actually be a good idear to move your funds to a decent wallet... It's the first step in the claim process of those forks anyways: move you funds to a new BTC wallet, and only afterwards claim the forks...
Which wallet to chose from depends greatly on your situation: are you going to get out of the crypto community and sell all your assets, or are you going to keep some? How much are we talking about (don't post a number on this forum)? How long will you be holding? What's your technical level of expertise? Do you have an older pc laying around?

[Hi_its_me]

Thanks for these excellent replies, I've taken note of the forks but given the small amount of BTC I have I'll mostly be chasing up crumbs with most of these forks, I would probably follow up just the BCH fork.

Everyone seems pretty upbeat regarding the future value of BTC, it's making me reconsider selling! :-D I guess I'm thinking about getting out because I'm concerned about my address that has been sitting there since 2015, just waiting for a hacker! Are these old brain wallets as dangerous as some say (considering I used a hell of a long "senseless" password with symbols thrown in)?

My fear of doing a transfer from one address to a new bc1 address (something you all consider kindergarden simple) freezes me from doing anything, I keep thinking I'll end up sending the funds into the void, lost forever. But even before I do that, I would have to work out how to securely create a new bc1 account with a 24 word mnemonic, and offline! (this is what I've read).

(Yes, I have an old smartphone lying around)

[ranochigo]

Are these old brain wallets as dangerous as some say (considering I used a hell of a long "senseless" password with symbols thrown in)?

It's relatively easy to bruteforce brainwallet addresses as most of them are hashed with SHA256 once without any additional key stretching. Being able to generate large keyspace at once and given that humans are inherently bad at generating secure passwords, I'd say that brainwallets exposes the user to unnecessary risk for a little convenience.

My fear of doing a transfer from one address to a new bc1 address (something you all consider kindergarden simple) freezes me from doing anything, I keep thinking I'll end up sending the funds into the void, lost forever. But even before I do that, I would have to work out how to securely create a new bc1 account with a 24 word mnemonic, and offline! (this is what I've read).

That probably won't happen. You can't really send Bitcoins to the void unless you intentionally do so and/or the wallet is flawed which is unlikely

Electrum generates a 12 word seed and that would probably suit your use case. You don't have to generate it offline unless you want to make an airgapped wallet, which provides tons of security at a little inconvenience when spending the coins.

[pooya87]

My fear of doing a transfer from one address to a new bc1 address (something you all consider kindergarden simple) freezes me from doing anything, I keep thinking I'll end up sending the funds into the void, lost forever. But even before I do that, I would have to work out how to securely create a new bc1 account with a 24 word mnemonic, and offline! (this is what I've read).

Then I suggest TestNet (https://en.bitcoin.it/wiki/Testnet).
Usually good wallets do support TestNet, for example Electrum which is an excellent wallet for both beginners and advanced users supports TestNet. You can go there, receive some free coins that have no value from a TestNet faucet and play around with them without worrying about losing any money. Try cold storage setup, offline signing, different address types, mnemonic recovery, etc. and gain confidence.

[Hi_its_me]

Well, these great answers have given me sufficient courage to stick with my Sats for a bit longer! :-)  However, from what I understand the first thing I'd need to do is safely create a new bc1 address OFFLINE so that I can move my BTC before "sweeping" my BCH (advice thankfully given to me in this post). Creating this address is a concern for me, is there a post in this forum that contains advice/instructions about this? Thanks

[Hi_its_me]

I've been looking around the internet and researching, I think I might have answered my own question. I'm starting to feel a little less like a newbie!

1.  I go to this ian colemen's website (https://iancoleman.io/bip39/) and generate a 24 word random mnemonic by selecting "24" from the list box and pressing "generate". (I do this offline)

2.  I go down a little and choose the Derivation Path "bip84" (by playing around with these options I worked out that this will give me bc1 addresses)

3.  Then, voila, the first address that appears (m/84'/0'/0'/0/0) will be my address (bc1...xyz) !

4.  Finally, I move my BTC funds to this new address - bc1...xyz

So, if in future I ever need to recreate my address and its corresponding private key, I just put my 24 words (and passphrase) into Ian Colenan and I can recuperate funds.

I hope this makes sense to you, if it doesn't then I'm probably missing something extremely important and I'm about to make a big mistake!  Is Mr. Ian Coleman's tool safe or is there another offline tool that's better?

(I think I'm developing a healthy level of security-related paranoia which most people in the crypto world seem to have! :-D )

[mocacinno]

Since you're a beginner, i wouldn't start messing around with iancoleman's tool... If you have a little bit of BTC, i'd stick with electrum, if you hold more than a couple hundred, i'd buy a ledger (or a trezor).

The only thing you have to worry about is downloading ledger from their official site and verifying the signature... Way less hassle than using iancoleman's tool (don't get me wrong, if you run his tool offline, it'll get the job done.... But if you ever want to spend those funds you'll have to use a real wallet anyways, so why not use it from the beginning?).

If you buy a leder or a trezor, the only worry you should have is buying it from their official webpage, checking the package is intact, and making sure it isn't pre-initialised... These things might look difficult, but they're really self-explanatory once you have the device laying in front of you...