BITCOIN: FINAL GUIDE FOR THE NEXT HARD FORK. No nonsense.

in #bitcoin9 years ago (edited)

Because what interests you are two things:

  1. Do not lose your Bitcoin
  2. Get, if possible, new coins for free

So you'll look elsewhere for technical details, whitepapers, controversies and all the supplementary information you want.

bitcoin-hard-fork.jpg

2 Hard Fork will happen in a short space of time:

  1. Which will lead to the appearance of Bitcoin Gold (BTG). Let's call it Hard Fork of Good Vibes because it does not try to banish the BTC but to create a new currency based on what they think is a better algorithm. It will happen on October 25th.

  2. The one that will implement the famous SegWit2x and that will lead to another currency that is probably called B2X. It will happen in mid-November, probably on November 18. The exact date is not secure because it is determined by the time of the creation of block 494784.

In both cases, if you have Bitcoin, you will get the same amount of other free coins.

All you need is to have your Bitcoin in a direction that you control the private keys. If you have them in an Exchange or in a third party managed wallet you DO NOT have the private keys. That you get new coins will depend on the decision of those third parties which is not always known with sufficient time. In some cases they will provide you, in others not.

THE MAIN, THAT MY BITCOIN ARE SAVED

That is easy. Just do not touch them or do any transactions from three days before October 25 until everything is clear after the second Hard Fork in mid-November. That everything is clear can mean even a few weeks after it occurs. I'm probably overstating something, but believe me, if you can refrain from transacting until everything is clear and working well, you may thank me.

A Hard Fork is a fork in the railroad track. In some cases it may happen that you send BTCs and receive BTG or B2X, which >would not do you any favors. This is especially likely on the second Hard Fork, so pay special attention.

AGREE, BUT I ALSO WANT MY FREE COINS

You will have them. If you have control of your private keys you are sure to have them.. If not, it will already depend on what decides who handles them.

You can have as many new coins (BTG and B2X) as Bitcoins you have at the precise moment in which the Hard Fork occurs. You do not even have to worry about how you will get them or if you have to install a specific wallet to receive them. In fact, I highly recommend you not bother to think about it until everything returns to normal. When it is safe again to make transactions with BTC we can start collecting our crop of new coins.

When everything has passed, there will probably already be specific wallets for BTG and B2X. And, not least, they will be better tested. It will be easy to find other guides with the best options. It is even possible that the Bitcoin Core Wallet will serve for all three. But we'll see.

So that I do not remain without telling you what the process would be like:

  • When the two Hard Forks have passed and the situation is safe, you can spend your BTCs if you want or send them to another address (highly recommended because you will use the private keys of the address where you had them to receive the new coins)

  • Install the correct Wallet for the new coin.

  • Import your private keys from the address where you had your BTCs when the fHard Forks occurred. For security, that address has already been emptied by sending the BTCs to another address of yours.

  • Let the new wallet sync and enjoy your BTG and B2X. They may be worth much less than a BTC, but they are free.

This guide is also available in Spanish. Esta guía también está disponible en Español.
Bitcoin: Guía definitiva para los próximos Hard Fork. Sin tonterías.

Coin Marketplace

STEEM 0.04
TRX 0.33
JST 0.104
BTC 64459.60
ETH 1879.30
USDT 1.00
SBD 0.36