Hard Fork?

[Cryptocraps]

Hello all, I’m new to the crypto game and just getting my feet wet. I’m using Coinbase and I’ve recently purchased some ETH.  I’ve read that there is a hard fork coming up, and TBH I feel like my comprehension of what that means is less than 50%. Does this mean that there will be a new Etherium token option?  I’ve invested enough that I feel like I need to understand what action (if any) needs to be taken on my part once the hard fork occurs. I am planning on holding for ~5 years if that helps. Thanks in advance!

[libert19]

There won't be new ethereum, hard fork is meant to improve the current ethereum, you don't need to take any action.

[Cryptocraps]

There won't be new ethereum, hard fork is meant to improve the current ethereum, you don't need to take any action.

Okay great, thank you.

[cryptoaddictchie]

Hello all, I’m new to the crypto game and just getting my feet wet. I’m using Coinbase and I’ve recently purchased some ETH.  I’ve read that there is a hard fork coming up,

Where did you learn about an eth hardfork? I mean can you cite the source. Maybe what you meant is the PoS migration that will happened few years from now? Or if its really a fork them maybe you mistakenly saw eth instead of other coins since there is no more hardfork for eth network.

[pooya87]

This particular ETH fork was supposed to happen years ago and probably will never happen for many years to come but whether there is a "split" in ETH blockchain or not is not something we can predict. It is a centralized cryptocurrency so the chances of it is low but still possible, when they kill mining the ethereum miners can decide to keep the original chain alive and keep mining it, there are users that may also want to keep that chain alive (something like the previous ETH hard fork that led to a split-> original chain called ETC that is immutable + the fork chain called ETH that is mutable since it reversed its blocks).

[TheNineClub]

I know that this is not an answer to your question, but you mentioned you are using coinbase, and just friendly advice, if you haven't, please look into hardware wallets. Especially if you are really planing on a 5 year investment. There are great topics on this forum that get more into it so check that out, it will save you a lot of headaches in the future.

[Cryptocraps]

Hello all, I’m new to the crypto game and just getting my feet wet. I’m using Coinbase and I’ve recently purchased some ETH.  I’ve read that there is a hard fork coming up,

Where did you learn about an eth hardfork? I mean can you cite the source. Maybe what you meant is the PoS migration that will happened few years from now? Or if its really a fork them maybe you mistakenly saw eth instead of other coins since there is no more hardfork for eth network.

Here's the article I read:

https://www.forbes.com/sites/michalgromek/2021/03/31/will-ethereum-miners-engage-in-a-51-attack-to-maintain-high-profits/?sh=1fde7fad4fcb


Again, I'm not really clear on how this all works but my interpretation was that there was anticipated hard fork coming in July?

[Cryptocraps]

I know that this is not an answer to your question, but you mentioned you are using coinbase, and just friendly advice, if you haven't, please look into hardware wallets. Especially if you are really planing on a 5 year investment. There are great topics on this forum that get more into it so check that out, it will save you a lot of headaches in the future.

I appreciate the heads up.  I am experiencing information overload (in a good way) finding this forum and the digital wallet is one of the main things I want to research before I invest much more into crypto.  I joined Coinbase because it was easy and I wanted to test the waters to see how the crypto market worked.  Now I'm totally obsessed, it makes traditional investing feel archaic.