Upcoming Bitcoin Forks in 2018 – Here’s What to Watch For

Last updated on March 26th, 2018 at 10:57 am

Back in August 2017, the first coin created from a Bitcoin fork came into existence: Bitcoin Cash. However, since then, two other coins have also been “forked” from Bitcoin: Bitcoin Gold (October 2017) and Bitcoin Diamond (November 2017). Most people are still wondering what these forks are, how they happen, and how one can profit from them. Here’s my take on all of this.

 

What the hell is a Bitcoin fork?

We discussed Bitcoin forks back when Bitcoin Cash was just coming out. If you want the full explanation, you can read the original post. If you want the quick and dirty explanation, keep on reading this post.

A fork is basically an alteration of the current Bitcoin code (or protocol). It means someone is changing the rules.

Imagine you’re playing a game with thousands of people from all around the world and then someone says, “Let’s change the rules.” Normally, for the game to work properly, everyone needs to agree on the rules being changed. If that happens, then the change is implemented and everything continues as normal.

If there isn’t a large consensus about the change, two versions of the game will be created (one with the old rules and one with the new rules)—in other words, there will be a fork in the game.

The same can happen with Bitcoin’s code. Generally speaking, when a fork happens, you’ll have an “original Bitcoin” and a “new Bitcoin.” For example, Bitcoin Cash changed the block size from 1 MB to 8 MB so more transactions could be processed with each block. There were those who supported this change and switched to a new coin called Bitcoin Cash (or Bcash), and there were those who decided to stay with the original rules and keep using the original Bitcoin.

Of course, this is a very simplified explanation of forks—not all forks are created equal. There are soft forks, which allow the new rules to play well with the old rules, and there are hard forks, which don’t allow this and create a totally different coin. All of the Bitcoin forks you’re hearing about lately are actually hard forks.

Why should I even care about a fork?

Great question! There are several reasons you should care about a fork:

  1. You may want to switch over to the new rules and the new coin because you think it’s better than using the original Bitcoin.
  2. The fork could have an impact on the Bitcoin community, Bitcoin’s adoption, and even Bitcoin’s price (we’ll get to that later on).
  3. You may want to profit from the fork by selling the new coins that are delivered to every Bitcoin holder.

Wait, what? I get free coins?

Yes. Let’s go back to our game analogy.

Imagine your game has been running for a very long time, and you’ve managed to accumulate a considerable amount of points in it. Now someone wants to change the rules but doesn’t want everybody to lose their points, so the new game will start at a certain point in time, and everyone will have the same amount of points they accumulated up until that point.

If, for example, you had 150 points in the original game, you could switch to the new game and still have 150 points. You could also play both games in parallel and have 150 points in each. Now let’s see how this works with Bitcoin.

When a fork occurs, the people who decide on forking Bitcoin say, “Look, we don’t like the original rules—we want to create new rules. So starting from block number 453,342 (for example), we’ll change to the new rules.” Anyone who had Bitcoins at the time of the fork will now have two Bitcoins: the original one and the new one. You can decide which one to use, or you can even use both.

If for example, you have 1 Bitcoin in your possession when the fork occurs, you’ll still have that 1 Bitcoin, but you’ll also be able to claim 1 “new Bitcoin” on the network that’s running the “new Bitcoin rules” (since that coin didn’t start out from scratch and is continuing the original Bitcoin’s history).

It can get a bit confusing, but the main point to remember is this:

When a Bitcoin fork occurs, anyone holding any amount of Bitcoins will get the same amount of the new currency as well. This doesn’t happen automatically; you do need to claim these coins, but each new coin has a different claiming mechanism, and we won’t be able to cover them all.

Once you claim your new coins, you can then hold on to them or sell them if they’re being traded on an exchange. This means that you can basically generate money for nothing; all you did was claim coins from thin air and sell them on an exchange.

Easy money! Or is it?

The dangers of Bitcoin forks

When the forking trend started out with Bitcoin Cash, it seemed that the fork was a legitimate way of expressing discontent with the road Bitcoin was taking (hence a fork in the road).

However, it seems like the more recent forks are pretty similar to each other, and the main reason for creating them has more to do with marketing than actual ideology. If someone thinks they can create a better coin than Bitcoin, they can create a brand new altcoin—there’s no need to create a Bitcoin clone.

Devs decide to fork Bitcoin for three main reasons (in my opinion, at least):

  1. Marketing buzz: Bitcoin forks are the new ICOs. Everyone is looking to get free coins, so people are actively looking for information (you’re reading this article, aren’t you?). What better way to get eyes on your project without a lot of work? Just say you’re forking Bitcoin and you’re done.
  2. Quick money for devs: Some of these forks aren’t really copies of Bitcoin’s history. The rules are changed in such a way that devs receive a large initial amount of the new coin, which they can then dump onto the market once the coin starts trading.
  3. Scams: Some forks are flat-out scams. There’s already been one reported scam: Bitcoin Platinum. Scams can come in the form of forks that are created to short Bitcoin’s price (e.g., Bitcoin Platinum) or something more elaborate such as forks that are created to steal users’ real Bitcoins in the process of claiming the new coin (e.g., Bitcoin Gold fake wallet).

As you can see, claiming coins from a fork entails a considerable amount of risk from the user’s side.

How to safely claim coins from a fork

First, I’d suggest reading a bit about the project. Find out who the developers are, what their track record is, how far along they are in their road map, what have other publications written about them, and the like. If all that makes sense to you, then perhaps the fork is indeed legit.

However, even if a fork is legit, it doesn’t mean it’s worth going through the hassle of claiming its coins. The claiming process is usually complicated, and you risk losing your coins if you don’t know exactly what you’re doing. Say you’re holding 0.5 Bitcoins, and you’re eligible for 0.5 Bitcoin Gold. I’m not sure the immediate profit is worth the risk. This is, of course, a personal decision you should make.

For example, one of the most important things that a forked coin has to implement is something called replay protection. It basically means that the network will be able to separate the new coin from the original one and not accidentally send the original one to the new coin address when claiming the forked coin.

If, in the end, you decide you want to claim your coins, I suggest that you follow guides only from well-known wallets (i.e., TREZOR, Ledger, etc.) or credited publications. Keep in mind that in the end, it’s your money, and no publication will be able to take responsibility if you do something wrong along the way—even if they accidentally published misinformation (as we unfortunately once did in the past).

What I’m trying to say is that it’s a risky business. Make sure to understand the process and make your own choices.

If you do decide to claim forked coins you need to make sure your Bitcoins are in a wallet that allows you access to the private keys. This means you need to get your Bitcoins off exchanges and other web wallets before the fork occurs. If you don’t have access to your private keys you won’t be able to extract the forked coin.

Once the fork occurs you’ll need to do two things:

  1. Send your Bitcoins to a new wallet with a different private key
  2. Upload your old private key to a wallet that supports the forked coin

Since each fork is different it’s hard to say which wallet will support each fork. Usually the official fork site will display the wallets and exchanges that support it. If you leave your coins on an exchange that supports the fork there’s a good chance you can avoid extracting the coins yourself and that the exchange will do it for you, however you are basically at their mercy.

Remember, the one rule you should always follow before trying to claim any coins is to move your Bitcoins to a new wallet with a new seed phrase. This move will reduce the chances of you losing your Bitcoin to almost zero.

Here’s our step by step guide on claiming your coins from Bitcoin forks.

Upcoming Bitcoin forks for 2017-2018

Now that we’ve got that out of the way, let’s review the upcoming Bitcoin forks.

IMPORTANT: None of these forks have been verified by our team. You are forking your coins at your own risk. Please make sure to do proper research before taking action on any fork.

Super Bitcoin (SBTC)

Fork Date: 12/12/2017 — Block 498,888

Changes from original protocol: smart contracts, Lightning Network, zero-knowledge proofs, 8 MB block size

Distribution method: 1 BTC = 1 SBTC

Twitter

Github

Website

Super Bitcoin aims to “make Bitcoin great again,” although the developers accept the idea as an experiment. It incorporates the best proposals from the Bitcoin community to see how all the forefront technologies combine.


BitcoinX (BCX)

Fork Date: 12/12/2017 — Block 498,888

Changes from original protocol: combining zero-knowledge proof, smart contract, DPOS consensus, crosschain technology data, SegWit, Lightning Network

Distribution method: 1BTC = 10,000 BCX

Twitter

Reddit

Website

BitcoinX is designed to release the full potential of Bitcoin in a scalable way for the future. By combining speed, smart contracts, and privacy, the development team is looking to build a cryptocurrency to suit modern society.


Lightning Bitcoin (LBTC)

Fork Date: 18/12/2017 — Block 499,999

Changes from original protocol: DPoS Consensus, three-second block time, 2 MB block size, no difficulty adjustment, smart contracts

Distribution method: 1BTC = 1 LBTC

Twitter

Website

Lightning Bitcoin pushes the boundaries of blockchain speed with bigger block sizes that are created in seconds rather than minutes. The addition of smart contracts and DPoS consensus should allow for a truly high-speed autonomous network.


Bitcoin God (GOD)

Fork Date: 25/12/2017 — Block 501,225

Changes from original protocol: no pre-mine, proof of stake, smart contracts, Lightning Network, large block size

Distribution method: 1 BTC = 1 GOD

Twitter

Reddit

Website

Some details are still to be confirmed for Bitcoin God, but the branding is rather catchy. Proof of stake, smart contracts, and Lightning Network will make for an interesting change to the usual Bitcoin protocols.


Bitcoin Cash Plus (BCP)

Fork Date: 2/1/2018 — Block 501,407

Changes from original protocol: No pre-mine, SigHash, emergency difficulty adjustment (EDA), 8 MB block size

Distribution method: 1BTC = 1 BCP

Twitter

Github

Website

Bitcoin Cash Plus throws more confusion into the Bitcoin industry. Is it that much different from the hotly tipped Bitcoin Cash? Zero pre-mining is a healthy way to start, but little information is available on its website.


Bitcoin Uranium (BUM)

Fork Date: Around 31/12/2017 — Block not yet announced

Changes from original protocol: No pre-mine, one-minute block time, SegWit, unique address format

Distribution method: 1BTC = 1 BUM

Twitter

Github

Website

Bitcoin Uranium wants to send rippling shockwaves through Bitcoin and reinitiate a truly decentralized currency. Quick block times combined with Equihash will allow GPU/CPU mining aims to open up mining to everybody.


Bitcoin Atom (BCA)

Fork Date: January 2018 — Block 505888

Changes from original protocol: Hybrid consensus (PoS and PoW), Lightning Network, Hash time-locked contracts

Distribution method: 1 BTC = 1 BCA

Twitter

Facebook

Website

Bitcoin Atom focuses its efforts on consensus modeling and off-chain transactions. A new form of combined Proof of Stake and Proof of Work may allow for increased security, while the Lightning Network creates “atomic swaps.”


Bitcoin Silver (BTCS)

Fork Date: December 2017 — Block not yet announced

Changes from original protocol: 30-second block time, SegWit, every block difficulty adjustment

Distribution method: 1BTC = 1 BTS

Bitcoin Silver remains mysterious, especially given that there’s no working website or cohesive Github. Speedy block times mixed with SegWit is an interesting scaling idea, but we’ve yet to see any details that are set in stone.


UnitedBitcoin (UB)

Fork Date: 12.12.17 – Block 498777

Changes from original protocol: No-premine, 8mb block size, Segwit, Replay protection, Smart contracts, Lightning network

Distribution method: 1BTC = 1UB

Twitter

Github

Website

UnitedBitcoin is literally trying to make everyone happy. It takes a mesh of BTC, BCH and Ethereum ideas and combines them on its blockchain. It’s a lot to take in for one cryptocurrency but why not have it all?


Bitcoin Diamond (BCD)

Fork Date: 24.11.17 – Block 495866

Changes from original protocol: No-premine, 8mb block size, Replay protection, Encrypted amounts, 210 million supply

Distribution method: 1BTC = 10BCD

Twitter

Github

Website

Bitcoin Diamond’s design is another build on Bitcoin Cash with the 8mb block size. Diamond builds privacy and extra supply into this model. It wants to make Bitcoin more affordable whilst keeping transaction amounts encrypted.


Bitcoin Oil (OBTC)

Fork Date: 12.12.17 – Block 498888

Changes from original protocol: No-premine, Proof of Stake, CPU mining, 1.5 minute block interval, Every block difficulty adjustment, 2mb block size

Distribution method: 1BTC = 1OBTC

Twitter

Website

Bitcoin Oil has no actual relation to the real world commodity, it is simply a metaphor for the project. There are millions of unclaimed fork coins and token laying dormant, using OBTC’s blockchain protocol unclaimed coins are redistributed as block rewards.


Bitcoin World (BTW)

Fork Date: 17.12.17 – Block 499777

Changes from original protocol: 210 billion supply, 8mb block size, Equihash PoW, Replay protection

Distribution method: 1BTC = 10000BTW

 

Website

Bitcoin World is another effort to bring Bitcoin back to the ordinary person. Added supply level coupled with Equihash mining should lower prices while making mining more accessible.


Bitcoin Stake (BTCS)

Fork Date: 19.12.17 – Block 499999

Changes from original protocol: Proof of Stake consensus

Distribution method: 1BTC = 100BTCS

Twitter

Website

Bitcoin Stake focuses on its consensus method for a more sustainable cryptocurrency. The Proof of Stake mining protocol breaks the control of large PoW miners and offers a more eco friendly option.


Bitcoin Faith (BTF)

Fork Date: 19.12.17 – Block 500000

Changes from original protocol: Zero knowledge privacy, Smart contracts, 8mb block size, Lightning network

Distribution method: 1BTC = 1BTF

Twitter

Github

Website

You’ve got to have a little faith in Bitcoin right? But which one? Bitcoin Faith. A mixture of leading features including 8mb block size and lightning network aims to set up a brighter future for cryptocurrency.


Bitcoin Top (BTT)

Fork Date: 26.12.17 – Block 501118

Changes from original protocol: 8mb block size, Segwit, Replay protection,

Distribution method: 1BTC = 1BTT

Twitter

Website

Bitcoin Top aims to be ‘better than better’, ‘the top Bitcoin’ but it has a long way to go after a late 2017 fork. 8mb block size coupled with Segwit makes up its way of scaling cryptocurrency.


Bitcoin File (BIFI)

Fork Date: 27.12.17 – Block 501225

Changes from original protocol: Increased block size, Smart contracts, Content network

Distribution method: 1BTC = 1000BIFI

Twitter

Website

Bitcoin File aims to be more than just a currency, it wants to provide a global content network. Using a fork of the Bitcoin blockchain, BIFI is trying to create an effective, secure and environmentally friendly storage network.


Bitcoin Segwit2X X11 (B2X)

Fork Date: 28.12.17 – Block 501451

Changes from original protocol: Segwit2x X11 encryption algorithm, Upto 4mb block size, 2.5 minute block time, Every block difficulty adjustment, Reply protection

Distribution method: 1BTC = 1B2X

Twitter

Github

Website

Not to be confused with the previous cancelled fork SegWit2X. This is a different operation but in many ways very similar. Segwit with increased block size resembles the original fork proposal and B2X now adds a 2.5 minute block generation time.


Bitcoin Pizza (BPA)

Fork Date: 01.01.18 – Block 501888

Changes from original protocol: Directed Acyclic Graph technology (DAG)

Distribution method: 1BTC = 1BPA

Twitter

Reddit

Website

Bitcoin Pizza is forking the legacy blockchain data and moving forward with a completely different angle. DAG technology, as we have seen with the IOTA altcoin, is thought of as a faster network style, although trust and consensus are issues with Pizza.


Bitcoin Smart (BCS)

Fork Date: 21.01.18 – Block 505050

Changes from original protocol: 2.1 billion supply, Equihash mining, 8mb block size, Segwit, Replay protection, No premine, Smart Contract

Distribution method: 1BTC = 100BCS

 

Website

Bitcoin Smart integrates a staggering selection of features grabbing protocols from everywhere. The highlights of Segwit, 8mb blocks and equihash are accompanied by smart contracts for a really nifty selection.


Bitcoin Interest (BCI)

Fork Date: 22.01.18 – Block 505083

Changes from original protocol: Equihash mining, Savings feature, Every block difficulty adjustment, Segwit, Replay protection, Earn interest

Distribution method: 1BTC = 1BCI

Twitter

Github

Website

Bitcoin Interest has the added bonus of a savings feature where investors can actually earn interest on their funds. Segwit and regular difficulty adjustment should also make it a swift cheap payment network.


Quantum Bitcoin (QBTC)

Fork Date: 28.01.18 – Block TBA

Changes from original protocol: Lightning Network, 8mb block size, Privacy protection, Replay protection, Pow + PoS consensus, Smart Contracts

Distribution method: 1BTC = 1QBTC

 

Website

Quantum Bitcoin aims to take some of the biggest and best Bitcoin ideas and amalgamate them into a single package. Big blocks, Lightning Network and privacy makes for another speculative project.


Bitcoin LITE (BTCL)

Fork Date: 30.01.18 – Block TBA

Changes from original protocol: Proof of Stake consensus, Privacy options

Distribution method: 1BTC = 1BTCL

Website

Bitcoin LITE is nothing special, in fact it is aiming to be to Bitcoin what silver is to gold. Sound familiar? This is more of a Litecoin competitor that is to include a premine. Nothing of note here really.


Bitcoin Ore (BCO)

Fork Date: 31.12.17 – Block 501949

Changes from original protocol: Proof of Capacity consensus, 8mb block size, 5 minute block time, Replay protection

Distribution method: 1BTC = 1BCO

 

Website

Bitcoin Ore uses a new consensus style called Proof of Capacity. It touts the more energy efficient cheaper mining solution as the future of Bitcoin. Steady roll out over 2018 will be interesting to watch.


Bitcoin Private (BTCP)

Fork Date: January 2018 – Block TBA

Changes from original protocol: Private transactions

Distribution method: 1BTC = 1BTCP + 1ZCL = 1BTCP

Twitter

Github

Bitcoin Private forks both Bitcoin Legacy and Zclassic to create a privacy coin. With more information still to be released we will have to wait and see how this one shapes up.

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41 Comments on "Upcoming Bitcoin Forks in 2018 – Here’s What to Watch For"

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matt
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matt

Thank you again for a very informative description

bitclassic
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bitclassic

Could yiu please add our upcoming Fork.
BitClassic (BCL)
Fork Date: Block 516095 2nd April 2018
Chenges from Bitcoin: ASIC Resistant mining (Equihash), per block retarget, 4mb block size limit, segwit,
BitClassic wil be distributed in Ratio of 1BTC :1BCL
BitClassic is a new Innovative Cryptographic Currency Forked from Bitcoin.
Twitter http://twitter.com/bitclassic2
Website http://bitclassic.info
github http://github.com/btcclassic

Kunle Oyetoro
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Kunle Oyetoro

Hello, please i have 8 SBTC on my waves wallet, but all my effort to move it out to other exchanges has been unsuccessful….It keeps telling me invalid wallet address when i try to send to the address provided by other exchanges, secondly, most of the big exchangers have blocked the deposit of the coin. Can you please enlighten me?

Steven Hay
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Trusted Member
Steven Hay

Hi Kunle,

Well, I’ve never used Waves wallet so I’m not sure what’s going on there. I suggest that you contact their support or get onto their social media / developer comms venues and ask them what’s up.

I’m also looking to sell my SBTC and so far the only exchanges I’ve found which allows deposits are Gate.io and BTCtrade.im – although you have to verify on the latter before you can withdraw. I don’t vouch for either of these exchanges either, as I’ve not yet used either of them successfully.

Kunle Oyetoro
Guest
Kunle Oyetoro

Thanks for the heads up, let me check up with waves support.

Chris
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Chris
I have a huge question! Is it possible to retroactively claim the new coins after you have sold them? My situation: I got some bitcoin in June 2016 without knowing a whole lot about it other than hearing some of the stories about the very early adopters becoming millionaires. I kept 0.656 BTC in my Coinbase wallet, transferred it and held it in an Electrum wallet from July 6 ’17 to Dec 12 ’17, 22:13. Then I transferred it to Kraken and turned it some into alt coins, and cashed out some – so I held the BTC during the… Read more »
Steven Hay
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Trusted Member
Steven Hay
Hi Chris, Sure, all forks are claimed retroactively. So this situation with Bcash is that it forked on the 1st of April 2017. At that time, you say your BTC was held in a Coinbase wallet? Therefore, Coinbase should have awarded you an equal amount of BCH. Check your Coinbase wallet for that. If it’s not there, reply here and we’ll try to figure out where it could be. As for BTC, that forked on the 24th of October 2017. So, your Electrum wallet held your BTC at that time. By exporting your Electrum privkey (via your seed phrase, which… Read more »
Yeye
Guest
Yeye

You need the private key associated with your BTC address.
Then you should be able to claim most of the coins.

Do not reuse the address after claiming though, just in case the private key have been compromised by one of the coins (some might be scams to get your private key.).

DALUKINGSLEY
Member
DALUKINGSLEY

hi Offir and team, is there any possibility on blogging how to analyse trades on coins to know when to enter and leave the market?

John
Guest
John

Hi Ofir / Nate

Thanks for a very good and informative video as always from you guys.

cryptolysic
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cryptolysic
Thx for the article. I guess I’m out of luck since I started in the end of November (by purchasing BTC at Coinbase). I (pre)ordered the new TREZOR and it will (hopefully) arrive in February/March. So I thought I would learn to trade a bit. I know it’s not a 100% safe to have your coins on an exchange. So I guess I missed those forks since I am (still) on Coinbase/Gdax. That would really be a pity. Could someone confirm that I need to transfer my bitcoins on gdax to a private wallet for example to be able to… Read more »
Steven Hay
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Trusted Member
Steven Hay
Hi Cryptolysic, There have been plenty of forks since late November, at least a few happened over December and more are coming. But yes, if your coins were held in GDAX / Coinbase at the time the forks occurred and the exchange doesn’t support them, you won’t get the fork coins. As fas as I know, Coinbase has not committed to supporting any recent or upcoming forks. So yes, you would need to withdraw your coins to a personal wallet before the fork date to ensure that you’re eligible to claim the fork coins. You should move them well in… Read more »
cryptolystic
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cryptolystic

Thanks for the info! I’ll have to look up how a bit more about SegWit-enabled personal wallets. I know TREZOR comes by default with segwit but in the meantime I should move it to paper wallet(SegWit-enabled).
Do you have any good experience with an SegWit paper wallet or are they all the same?

Steven Hay
Guest
Trusted Member
Steven Hay
Hey Cryptolystic, Yes, the Trezor P2SH SegWit addresses are what I’d recommend for regular use. As for SegWit paper wallets, I have not used one before. However, I did find this site: https://segwitaddress.org/ which appears to be legitimate. It is at least open source and I believe it would most likely be secure if you use it in the same way as the other paper wallet generator, described in our guide: How to Create a 99.9% Secure Bitcoin Paper Wallet Please conduct your own research into the reliability of the SegWit Paper Wallet code and its correct usage. Provided it’s… Read more »
cryptolysic
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cryptolysic

Great!!! Thanks again for all the input!

Lee
Guest
Lee
Steven/ Col/ Ofir: All this talk of btc on wallets v. On exchanges has me wondering about a problem I’ve been trying to solve. A month ago I sent .35 btc from my ledger to Bitfinex. As far as I can tell the block chain has processed the transaction (a thousand confirmations and counting, my ledger and a transaction accelerator I tried reports that the txn is confirmed, while Bitfinex reports unconfirmed- I don’t understand how to interpret what the block chain explorer is telling me so I don’t really know what it’s status is) but Bitfinex has never credited… Read more »
Steven Hay
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Trusted Member
Steven Hay
Hi Lee, Sorry to hear about your trouble. As for forks, this amount will only be claimable for forks which occurred before you sent the amount to Bitfinex. This should include Bitcoin Gold, Cash, Clams, and perhaps Bitcore. I see from the block explorer that your send did indeed occur. The address you sent to (1BvS8DEpN7rco6EK3X4cGG3oYsknxp2AQa ) appears to be an exchange wallet as it’s handling quite a number of high value transactions, but then again it could be any address. Are you sure that this address was the deposit address Bitfinex gave you? The only other thing which occurs… Read more »
Lee
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Lee
Hey Steven. Want to thank you yet again for finding the time to talk to me about this. I’m guessing you receive greatly more of these requests than you can handle, so answering me the way you have speaks volumes about your commitment to the community. From the vast pool of nervous noobs like me – we thank you. Happy ending here, in that Bitfinex did indeed screw up somehow and after 5 weeks of waiting, emailing and flaming them on social media, paid up. This has been a painful lesson for your readers to be aware of: risks come… Read more »
Steven Hay
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Trusted Member
Steven Hay
Hi Lee, It’s my pleasure, I’m very glad that your issue was successfully concluded. There are indeed a lot of things which can go wrong in crypto. Some are outside the control of the exchanges, some are not. While I believe most exchanges are staffed by honest, diligent people who genuinely want to give good service, right now there are just so many new people entering crypto that it’s hard for exchanges to deal with the sheer volume of problems. In the current environment, with no real regulatory protections for crypto clients of exchanges, there’s not much one can do… Read more »
CBBBP
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CBBBP
They’re playing it safe (or better be) and I seriously doubt they will screw us out of any legit enough to warrant ownership, but it is a guessing game with them at a time it’s not cool to be uncertain with all these freagin’ forks. I’d had moved my BTC elsewhere already myself but the fees right now are stupid. This coming from a proud and small holder of the .1_____ %er’s and not ashamed to say it. I am loving the volatility of late as i continue to accumulate and up until yesterday was nailing the LOW of week,… Read more »
Steven Hay
Guest
Trusted Member
Steven Hay

Hey CBBBP,

Coinbase are under no obligation to award forkcoins. In my view, they will only award coins when there’s a financial incentive for them to do so. In the case of Bcash, they saw a coin with sufficient volume such that they could profit from offering a market in it.

Glad it’s working out with your trading!

Doug
Guest
Doug

cryptolysic: gdax is only a sister web based site of Coinbase. It offers maker/taker relationships between market orders and limit orders and other accounting features.
Transferring Bitcoin, Etherium or Litecoin to a hardware wallet or paper wallet can be done from either Coinbase or gdax. Transfers from Coinbase and gdax is free and instantaneous since they are the same company. Transfers from gdax to a paper wallet doesn’t take long either and is free. Keep your private keys safe and good luck!

cryptolystic
Guest
cryptolystic

Thx! I will have to create paper wallets until my hardware wallet arrives hopefully next month. I’m definitely need a way to store my private keys somehow and notify my parents and sister, if anything should happen to me.

Brian Paul
Guest
Brian Paul
You didn’t miss out, in all cases thus far, your forks are safe and can be split off months if not years later. Many of us just wait to see if the forks actually survive before going to the trouble (and risk). If its stable and grows then many exchanges will pick it up and the fork is then done for you. This is what Coinbase did to my BTC once they announced support for BTC cash. Trezor is also a will do a fork for certain coins once they seem to be established enough for them to go to… Read more »
Barry
Guest
Barry

Since no one has stated the obvious I will: this is some pretty forked-up stuff.

Thanks Ofir!

Lee
Guest
Lee

Thanks Ofir/ Steven.

So, by holding bitcoin in a nano s on the dates above, I can claim coin on each of these couple of dozen forks? Is that right?
If so, how?

Thank you again.

Lee

Col
Guest
Col

If Ledger decide to support those forks they will provide the necessary software for you. I wouldn’t hold my breath though, as Ledger are not exactly t quick to react to these updates. Alternatively, as Ofr suggests, you will need to claim them using your own key. And that is where the trouble starts. Personally, I think all these forks are gaming the system for their own ends and unless I see adoption by exchanges and wallet providers I won’t be touching any of them.

cryptolysic
Guest
cryptolysic

Hi, I’m new to all this :-) but couldn’t you just trade the new forked coins into BTC?
Or am I missing something obvious?

Steven Hay
Guest
Trusted Member
Steven Hay

Hi Cryptolysic,

Yes, most forkcoins of any importance will trade on at least one or two markets and they most commonly trade for BTC. This is the easiest method to claim more BTC from each fork, as a “dividend.”

cryptolystic
Guest
cryptolystic

Thanks Steven!

Lee
Guest
Lee

Hi Col.
thanks for answering – appreciate your thoughts here.

A new crowd called Wallet Services handes these claims for a 10% cut. Only 3 of the BTC forks for now but there might be more. This feels like a way to take the risk out of the process. I’ve swapped a few emails with them and they are genuinely helpful (quite like yourself in fact).

The process:

– empty my wallet,
– send them my seed,
– generate a new seed,
– refill my wallet.

Can you see a reason to not do this?

Again, thanks. Appreciate your reply.

Lee

Steven Hay
Guest
Trusted Member
Steven Hay

Hi Lee,

Well, I do see one reason not to do things this way: you have to trust Wallet Services to send you the coins. Provided you first transfer your existing BTC to a new fund BEFORE exporting your OLD privkey to the forkcoin wallet, the risks are minimal. Of course, you must make a backup of your NEW wallet’s privkey / seed phrase as well.

Personally, I don’t feel that what Wallet Services does is worth the 10% cut, nor would I feel comfortable trusting them if it’s possible to perform the process myself.

Lee
Guest
Lee

Steven:
Once again, thanks for helping here. I do appreciate it.

These folks also offer a paid consulting service which I guess removes the trust implications while supporting me through the process until I’ve done it enough times to understand it. Maybe that’s the best way to go.

Thanks for your guidance. Have a nice day.

Lee

Victor
Guest
Victor

8 forks for 2017, & 1 fork for 2018??? Change the fucking title you retard!!!!

Shauny
Guest
Shauny

A bit harsh!! This is a follow up to previous work.

cryptolysic
Guest
cryptolysic

Victor, I think it’s an updated post as Shauny suggested and even then it was harsh indeed.
We should be grateful for any info.

Lee
Guest
Lee

Hi Victor.

forum trolls are lowlife that will gradullay be naturally selected out of existence. The sooner that process catches up with you, the better.

Unsubscribe you abusive prick. You don’t belong here.