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Author Topic: hard fork?  (Read 1775 times)
LordSonjai (OP)
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March 01, 2015, 06:38:37 PM
 #1

Just curious as if wether my bitcoin cold wallet made off of bitaddress would be affected during a hard fork.
nicked
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March 01, 2015, 06:52:06 PM
 #2

I would like to know the same thing. I can see that this topic has been read about 45 times with no replies. Maybe no one knows.
LordSonjai (OP)
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March 01, 2015, 06:54:35 PM
 #3

If you control private keys in the current block chain, you would control the same private keys in both block chains (old and new) after a hard fork.

FANTASTIC.
inBitweTrust
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March 01, 2015, 06:57:22 PM
 #4

Just curious as if wether my bitcoin cold wallet made off of bitaddress would be affected during a hard fork.

Short answer - No.

Technically, your question is nonsensical or incomplete though.

odolvlobo
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March 01, 2015, 07:00:48 PM
 #5

It is extremely unlikely that any fork is going to change how private keys and bitcoin addresses work because it would cause a total disruption, invalidating all wallets, not just cold wallets.

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LordSonjai (OP)
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March 01, 2015, 07:05:20 PM
 #6

thank you thank you good to know.
jeffhuys
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March 01, 2015, 07:23:05 PM
 #7

Wait, when is this hard fork going to happen? Or is this not decided yet?

inBitweTrust
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March 01, 2015, 07:40:21 PM
 #8

Wait, when is this hard fork going to happen? Or is this not decided yet?

Much to the chagrin of less than 1% of bitcoin users sometime this year. No formal BiP has been proposed but one will come shortly in second quarter and than accepted this year. It is going to happen and will address this growing problem by increasing the block limit and allow more Txs-

https://blockchain.info/charts/avg-block-size?timespan=1year&showDataPoints=false&daysAverageString=1&show_header=true&scale=0&address=

My confirmations are taking FOREVER.

Difficulty is increasing and confirmation times are actually averaging 7-8 minutes sir. Keep in mind the Poisson Distribution.

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March 01, 2015, 08:08:36 PM
 #9

My confirmations are taking FOREVER.

Difficulty is increasing and confirmation times are actually averaging 7-8 minutes sir. Keep in mind the Poisson Distribution.

7-8 minutes is not accurate. Poisson distribution or not, the last ...

10,000 blocks took 96,453 minutes to confirm, for an average time of 9.65 minutes
1,000 blocks took 9,900 minutes to confirm, for an average time of 9.90 minutes
100 blocks took 1,008 minutes to confirm, for an average time of 10.08 minutes




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inBitweTrust
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March 01, 2015, 08:18:53 PM
 #10

Actually, the last ...

10,000 blocks took 96,453 minutes to confirm, for an average time of 9.65 minutes
1,000 blocks took 9,900 minutes to confirm, for an average time of 9.90 minutes
100 blocks took 1,008 minutes to confirm, for an average time of 10.08 minutes

7-8 minutes is not accurate.



You cannot extrapolate that data to reflect the probability of confirmations appearing from an average Tx if the appropriate Tx fee is paid .

https://blockchain.info/charts/avg-confirmation-time

In reality since a Tx appears ate a random time between blocks being found the first confirmation has a 50% probability of being found within 3-4 minutes and the second confirmation has a 50% probability being found within 7-8 minutes after the first confirmation.


PolarPoint
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March 01, 2015, 08:20:06 PM
 #11

Just curious as if wether my bitcoin cold wallet made off of bitaddress would be affected during a hard fork.

The hardfork, when it comes, only miners and pool operators need to upgrade their builds. Average bitcoin users are not affected, coins are safe and addresses still works.

I guess my issue is I am not getting in these blocks I sent a transaction around 4 hours ago and I am still waiting " Estimated Confirmation Time   Within 6 Blocks (Medium Priority)"

Medium priority usually means not enough fees.  Wink
inBitweTrust
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March 01, 2015, 08:24:14 PM
 #12

I guess my issue is I am not getting in these blocks I sent a transaction around 4 hours ago and I am still waiting " Estimated Confirmation Time   Within 6 Blocks (Medium Priority)"

The last 6 confirmations happened within 1.5 hours - https://blockchain.info/blocks

Did you pay the correct Tx fee?

albert11
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March 02, 2015, 12:08:19 AM
 #13

Just curious as if wether my bitcoin cold wallet made off of bitaddress would be affected during a hard fork.

The hardfork, when it comes, only miners and pool operators need to upgrade their builds. Average bitcoin users are not affected, coins are safe and addresses still works.


I though that when a modification on the code is done people needs to upgrade their client isn't this the case?

This would mean that if people disagree with a code modification they are the ones that needs to find another client, i thought it was the other way around?


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jeffhuys
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March 02, 2015, 12:22:42 AM
 #14

I guess my issue is I am not getting in these blocks I sent a transaction around 4 hours ago and I am still waiting " Estimated Confirmation Time   Within 6 Blocks (Medium Priority)"

The last 6 confirmations happened within 1.5 hours - https://blockchain.info/blocks

Did you pay the correct Tx fee?
It is the standard MultiBit HD wallet fee .00001

Should be fine. My MultiBit confirms flawlessly, every time.

jeffhuys
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March 02, 2015, 12:33:39 AM
 #15

I guess my issue is I am not getting in these blocks I sent a transaction around 4 hours ago and I am still waiting " Estimated Confirmation Time   Within 6 Blocks (Medium Priority)"
The last 6 confirmations happened within 1.5 hours - https://blockchain.info/blocks
Did you pay the correct Tx fee?
It is the standard MultiBit HD wallet fee .00001
Should be fine. My MultiBit confirms flawlessly, every time.
So standard transactions are being effected, that's what I am taking from this.
I guess. You could just have had a load of bad luck. I've never really had problems with transaction time.

BillyBobZorton
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March 02, 2015, 04:06:04 PM
 #16

It is extremely unlikely that any fork is going to change how private keys and bitcoin addresses work because it would cause a total disruption, invalidating all wallets, not just cold wallets.

If a fork fucks with private keys it would be the end. You can't recover from that. So they better think about it twice
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March 02, 2015, 04:37:46 PM
 #17

Just curious as if wether my bitcoin cold wallet made off of bitaddress would be affected during a hard fork.
It depends.

I think that in the future Bitcoin could accept new cryptographic algorithms, but you won't be forced to move your funds. But if the current cryptographic algorithm becomes weak, your funds could be stolen.

It this happens you will be noticed, don't worry, because the current cryptographic algorithm is strong enough for the moment.

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March 03, 2015, 01:44:37 AM
 #18

Just curious as if wether my bitcoin cold wallet made off of bitaddress would be affected during a hard fork.
It depends.

I think that in the future Bitcoin could accept new cryptographic algorithms, but you won't be forced to move your funds. But if the current cryptographic algorithm becomes weak, your funds could be stolen.

It this happens you will be noticed, don't worry, because the current cryptographic algorithm is strong enough for the moment.
I don't think we'll ever need, in our lifetimes, a change beyond what SHA256 has to offer. Unless alien tech cracks the algorithm.
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