Bitcoin 2 X hardfork: What will happen and What I am going to do to protect myself from it

Hi All,

I wish to share my findings on the upcoming bitcoin hard fork and it's impact on an investor or holder of Bitcoin.

From what I am reading from bitcointalk and other forums, I believe that
2X Harfork is going to happen in November.

I also believe that Exchanges will list original (non 2x) coin as Bitcoin - BTC. Because only select few exchanges are supporting NYA.

As Hardfork will happen obviously there will be volatility in price. What it means that our crypto portfolio won't look great leading to the fork and at least for a week or two (month!) after that.

MAIN RISK/ISSUE for Bitcoin holder:

The main issue is that 2 X developer are refusing to put replay protection, what that means is unless you know how to split your private keys on both chains (Bitcoin and the new 2X), and you spend either of the coin
(original or new), you'll end up spending both.

So as long as you hold the original bitcoin and not try to sell the 2 X coin straight away for profit and instead wait until your wallet provider and/or exchange confirms that they'll split the coins for you then you should have two coins.

Appreciate if anyone cares to share their views too so that we all can be better informed.

Please upvote should you like this post.

Regards
No Facebook