Hello, guys!
I have downloaded Bitcoin Core and I have moved my BTC there. Once the fork is done, how do I claim the BTG coins? What would exactly happen?
Best Regards!
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No one wants to clarify this?
Once the bitcoin Gold wallet is available, download it. Import your normal bitcoin wallet…
when? after the fork is done to wait for the wallet? and export my BTC wallet and import it in the BTG wallet? Not really clear …
Before and during the 25 of October have bitcoin in BitcoinCore Wallet. After this day don’ t worry. The same amount in BTGold is yours
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Hey! Here’s a couple of the most helpful writeups I’ve found:
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Thanks for that link !!!
Im trying to understand how to receive duplicated coins from a new hard fork. My understanding is, that if you owned, for example, BTC before the BTG fork, you would be able to receive the equivalent amount of BTG that you had in BTC at the time of the fork.
Lets say you bought your original BTC from GDAX or Coinbase before the BTG fork, then you sent your BTC to a Bead Wallet on your iPhone and then sent your BTC to a Nano Ledger S. The BTC was sent to the Nano Ledger after the BTG fork, but the BTC was either in Coinbase or the Bread wallet before the BTG fork. Nano Ledger says that you can’t claim your BTG, if you had it in your Ledger wallet after the BTG fork.
Bread wallet or Coinbase hasn’t supported BTG yet. Do you have to redeem you BTG from the wallet where you BTC was residing at the time of the fork? I thought once you have control of your private key for BTC, you are eligible for redeeming your BTG, no matter which wallet your BTC is in at the time you want to redeem. Apparently, the wallet where your BTC was residing at the time of the BTG fork matters, and you can only redeem your BTG if the wallet where your BTC was held, supports the new chain.
This seems to contradict the idea that as long as you own the private kets to a coin before it hard forks that you can get the duplicate coins. It seems that the particular wallet your coin or private key is held is crucial.
Can someone clarify how the redemption of duplicate coins on a hard fork really works. Is it dependent on just holding the private key in a wallet, or is it dependent on holding the keys in a particular wallet at the time of the hard fork?
When people say if you hold your private key you are able to receive the forked coins, they mean the particular private key in which the BTC were at the time of the fork, because that will also be the particular private key that will hold the forked coins on the new chain.
If you sent your BTC from an exchange to a new private key after the fork already happened, this does not influence at all the forked coins - the BTG coins are now a separated entity. So yes, it’s crucial that you control the private key where the BTC were at the time of the fork. This probably will also be true for upcoming forks, so i recommend you put your BTC in a wallet that gives you control of the private key.
The private key is what gives you control of the bitcoin in a particular address, so it’s necessary to hold the specific one, not just a private key with bitcoin now.
If they were in an exchange and the exchange does not support the fork you will have to see if there’s anything you can do in that particular case, since it varies a lot. Some exchanges release the forked coin for withdraw for a limited amount of time but i really don’t know coinbase’s stance on the BTG fork.
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Yeah you are right. I have been reviewing youtube videos on how the whole private /public key and bitcoin transaction works. You not only have to have the public/private key combo at the time of the fork, but as you implied, the wallet where your keys were stored has to support the forked chain. Then you can broadcast your spend request onto the forked chain and spend your unspent transaction with the use of your private key. If you wallet doesn’t support the split fork, you will be out of luck, unless you can clone your wallet that you had at the time of the split and use the cloned wallet to access your coin, as long as the cloned wallet support the split chain.
Kind of crazy that when a chain splits a lot of people get free money. Where does this money come from? It is basically made up from nothing. If all the BTC holders at the time of a split claim their new coins, that can be a huge amount money. If I’m doing my math right and when BTC is at 323 billion market cap and valued at $19,000/BTC and if all it is converted to BTG at say $300/BTG then that is $4,845,000 dollars made out of thin air. Isn’t this an inflationary force on BTC and all crypto in general, if all this free money released is buying more crypto?
It could be, but the value BTG has, even though its mainly speculative, is related to their project and their network. If they don’t bring anything to justify the price, it will drop.