Where are you holding your Bitcoin during this fork?

[Krashman]

I'm not 100% sure with the blockchain wallet. I am not aware of them saying anything definitive. You can export your seed phrase there and apparently that can be used to import your wallet somewhere else that does support BCC later if needed. I think we will be fine there but am not 100% sure.

from Blockchain website:

What The Bitcoin Cash “BCC” Hard Fork Means for Blockchain Wallet Users
JULY 30, 2017ALYSON
At Blockchain, we are focused on creating products that empower you to have ultimate control and flexibility in managing your money. Blockchain wallets are non-custodial and you hold the private keys, meaning you always have full, exclusive access to your funds — which are always accessible with your recovery phrase. In short, we enable you to Be Your Own Bank.

We’ve received questions about the Bitcoin Cash Fork (known as BCC) that is scheduled to activate on August 1st and how it will impact individual users. Our top priority is the safety of customer funds. Though we are actively monitoring network conditions and will do everything we can to minimize the impact on you, it may be necessary to temporarily cease broadcasting transactions for a short period of time. If it is, we will let you know.

If you have a Blockchain wallet, it is essential that you retain your wallet and corresponding recovery phrase and not delete them, even if you empty the BTC balance. Also if you are considering withdrawing funds from exchanges that will not support BCC, it is safe to withdraw to your Blockchain wallet.

In the event of two separate blockchains after August 1, 2017 we will support the longest chain. As of today, we have no immediate plans to fully support the Bitcoin Cash fork within our main product. But, if BCC develops into an actual chain and market, you will be able to use your recovery phrase to export your funds and use them on that chain, regardless of whether or not Blockchain chooses to support it.

Everyday you can choose what to do with the bitcoins in your Blockchain wallet. While no immediate action is required, the current network changes serve as a helpful reminder to have your recovery phrase written down if you haven’t already. Check out this blog for more info about how you can find your recovery phrase.

UPDATED: July 31, 2017
CATEGORIES: COMPANY UPDATES & ANNOUNCEMENTS, UPDATES

[trytrytry]

dropping steady and pretty fast now only 0.146 on this one exchange.

[MeanPeopleSuck]

Great advice tell people to move all there money to exchanges right now when they don't have too. Unless they are trading whats the point of taking on that extra risk when they don't have too? GL, I used to have this kind of trust in these exchanges until BTC-E happened now anything can happen at anytime. Why not just tell people to not be lazy and just put it in a wallet to be sure? since you guys seem to care so much about what everyone needs to do around here....

Look, do what you want with your own money, but if you were a big enough idiot to trust Alex Vinnik, that's YOUR fault, not ours.

You don't see me encouraging anybody to put their their money in Polo, after what they did RE: the STR/XLM giveaway last month, do you?

I'm sorry you did a stupid thing, but that's really nobody's fault but your own.

[MeanPeopleSuck]

Did it end being proven MtGox was a heist?

It almost certainly was. Mark Karpeles, the second CEO, is on trial in Japan right now for fraud and embezzlement.

[MeanPeopleSuck]

Anyone can chime in and answer this....

I have funds at Gemini right now... just in an acct. No Bitcoins purchased yet. I'm trying to figure this out... so correct me if I'm wrong... I just want to move BTC to a sportsbook after this FORK is over. Will Gemini offer me BTC only? Or BTC and BCC combined?

Furthermore, sportsbooks only want BTC at the moment correct?

This is really confusing.

It IS confusing, for old hands, too. First, Gemini's one of two exchanges that has given out conflicting information about whether they will allow coin splitting. For that reason, the only safe assumption to make is that they WON'T be passing BCC on to their clients.

You're in cash now? Then stay that way for at least the next 24 hours. IMHO, BTC's price will fall tomorrow after the chain split, so waiting 24 hours to buy your BTC insures you're not paying for BCC (which is currently still a component of BTC) that you (might) not receive.

[MeanPeopleSuck]

I could be wrong looking at posts from MPS, but I don't think that gemini supports BCC.

Kraken, Bitfinex and Bittrex will give you both coins, then you can transfer BTC to sportsbooks.

Sportsbooks aren't taking BCC. Betcoin does accept ETH and LTC.

Thanks for that update, Raiders.

Yeah, looking around, I can't find evidence that Gemini's said one way or the other. I'd assumed they'd said yes to BCC because that was all over Reddit two nights ago, but doesn't seem to be now.

Apologies to anyone my comments might've misled. Fingers crossed they still do honor people's BCC.

[MeanPeopleSuck]

Let's assume the fork occurs and the new coin has some ongoing value. Then an exchange like Coinbase/GDAX will almost certainly have to give their customers with BTCs in their custody the new coin or an equal value. If not, class action lawsuit.

I'm an attorney (my first two years I was a securities attorney) and the sad truth is crypto's not registered with SEC or governed by any country's laws. This has several bizarre consequences:

1. Insider Trading is legal.

2. Market manipulation is legal, including "cornering" a market so as to be in control of the price in both directions.

3. Owners / Foundation members can violate the cardinal rule of not being able to buy or sell on "material, nonpublic information." Meaning they can buy coins just before they announce good news and they can sell their coins -- even short their coins -- just before they release bad news.

"Foundation President, should we issue a press release saying we were hacked last night?" "Not yet, I've only just sold all my holdings, but I want to get a million dollars short before we tell anybody."

4. There's no public record of Foundation members' holdings or what and how much of their coin they've bought or sold.

So unfortunately, there's no legal obligation for Coinbase/GDAX or anybody else to pass BCC on to their clients.

[Optional]

What do you make of this message emailed out about 6 hours ago from the Australian exchange mentioned in post #1?



This email goes to all Independent Reserve clients.

Given the uneventful passing of the UASF activation deadline earlier this morning, we have deemed it safe to once again enable Bitcoin Deposit and Withdrawal functionality.

We will continue to monitor the situation closely and may need to temporarily suspend Bitcoin deposits and withdrawals should the need arise.

Thank you for your support and understanding during this period.

Best Regards,

Adrian Przelozny
CEO, Independent Reserve

https://www.independentreserve.com

[MeanPeopleSuck]

What do you make of this message emailed out about 6 hours ago from the Australian exchange mentioned in post #1?



This email goes to all Independent Reserve clients.

Given the uneventful passing of the UASF activation deadline earlier this morning, we have deemed it safe to once again enable Bitcoin Deposit and Withdrawal functionality.

We will continue to monitor the situation closely and may need to temporarily suspend Bitcoin deposits and withdrawals should the need arise.

Thank you for your support and understanding during this period.

Best Regards,

Adrian Przelozny
CEO, Independent Reserve

https://www.independentreserve.com

The User Activated Soft Fork got cancelled, in exchange for BIP 91, which was approved about 10 days ago. What BIP 91 does is limit the voting pool for SegWit (BIP 141) to only pro-segwit nodes, so SegWit's approval is basically guaranteed on August 11th, and SegWit2x's approval is all but certain for later in August, so the scaling news is all good.

But, Optional, brother, you're missing the truly brilliant Bitcoin story of the morning, namely, that our own TryTryTry aced out EVERYBODY for when BCC went active at Bittrex. HE ACED OUT REDDIT, HE ACED OUT 4CHAN, HE ACED OUT BITCOINTALK, HE ACED OUT STACKEXCHANGE AND HE ACED OUT THE WHALES.

Because of that lovable purple dinosaur -- I swear to God I'd kiss him if he was here -- I was able to secure my BCC and sell my BTC at 2830, literally about 2 minutes before the rest of the universe recognized they had their BCC and started selling, too.

That's a F*cking Coup worthy of the history books!

[Optional]

That sounds like good news!!

Hope you make a killing

[JAKEPEAVY21]

The User Activated Soft Fork got cancelled, in exchange for BIP 91, which was approved about 10 days ago. What BIP 91 does is limit the voting pool for SegWit (BIP 141) to only pro-segwit nodes, so SegWit's approval is basically guaranteed on August 11th, and SegWit2x's approval is all but certain for later in August, so the scaling news is all good.

But, Optional, brother, you're missing the truly brilliant Bitcoin story of the morning, namely, that our own TryTryTry aced out EVERYBODY for when BCC went active at Bittrex. HE ACED OUT REDDIT, HE ACED OUT 4CHAN, HE ACED OUT BITCOINTALK, HE ACED OUT STACKEXCHANGE AND HE ACED OUT THE WHALES.

Because of that lovable purple dinosaur -- I swear to God I'd kiss him if he was here -- I was able to secure my BCC and sell my BTC at 2830, literally about 2 minutes before the rest of the universe recognized they had their BCC and started selling, too.

That's a F*cking Coup worthy of the history books!

[trytrytry]

The User Activated Soft Fork got cancelled, in exchange for BIP 91, which was approved about 10 days ago. What BIP 91 does is limit the voting pool for SegWit (BIP 141) to only pro-segwit nodes, so SegWit's approval is basically guaranteed on August 11th, and SegWit2x's approval is all but certain for later in August, so the scaling news is all good.

But, Optional, brother, you're missing the truly brilliant Bitcoin story of the morning, namely, that our own TryTryTry aced out EVERYBODY for when BCC went active at Bittrex. HE ACED OUT REDDIT, HE ACED OUT 4CHAN, HE ACED OUT BITCOINTALK, HE ACED OUT STACKEXCHANGE AND HE ACED OUT THE WHALES.

Because of that lovable purple dinosaur -- I swear to God I'd kiss him if he was here -- I was able to secure my BCC and sell my BTC at 2830, literally about 2 minutes before the rest of the universe recognized they had their BCC and started selling, too.

That's a F*cking Coup worthy of the history books!

GET SOME SLEEP MEANPEOPLE

i GUESS i WILL ADD THAT FIRST/EARLIEST TO BREAK THE COIN NEWS TO MY ONLY OTHER NOTABLE ACCOMPLISHMENT WHICH WAS INVENTING THE PROP FOR LENGTH OF THE SUPER BOWL NATIONAL ANTHEM AND SETTING THAT LINE

[RonPaul2008]

How do those with BTC in a wallet, for instance electrum, go about splitting it to get BCC?

[raiders72001]

https://trade.kraken.com/kraken/bchbtc/1m

[raiders72001]

Some people have been credited with BCC over at Kraken and others haven't as of this time.

[themike78]

Ok so I thought all this nonsense was done to speed up transactions. Why am I waiting an hour for a confirmation?

[evo34]

Can anyone explain the current situation in layman's terms for someone holding BTC in a Blockchain.info wallet? Is there anything to do, or just sit back?

[HedgeHog]

Is it safe to withdraw and deposit BTC again at Books, or is there still a risk of being "forked"?

[JAKEPEAVY21]

still waiting to be credited BCC at bitfinex

[Optional]

Can anyone explain the current situation in layman's terms for someone holding BTC in a Blockchain.info wallet? Is there anything to do, or just sit back?

yes, we will have to do something like import the blockchain wallet into one that supports BCC.

Make sure you get your backup phrase to do it but it is fine to spend all your BTC now as your BCC is still there attached to that wallet.

Is it safe to withdraw and deposit BTC again at Books, or is there still a risk of being "forked"?

Yes, all good now.

Transactions should be fast too.

[Capitols44]

lets be 100% honest here no body really know a darn thing what the price of bitcoin will be tomorrow. So forget about it. Im one of the old timers here and most of you guys dont remember a e-currency called e-gold. I lost money in it. Its no longer available and the guy who made it got locked up in a federal prison. So relax if your so concerned have a diversified portfolio of e-currencys, gold and silver and stocks and bonds real estate and businesses. I would not be worried if bitcoin went to zero because i dont have all my wealth stored in it. I do own a little.

[themike78]

lets be 100% honest here no body really know a darn thing what the price of bitcoin will be tomorrow. So forget about it. Im one of the old timers here and most of you guys dont remember a e-currency called e-gold. I lost money in it. Its no longer available and the guy who made it got locked up in a federal prison. So relax if your so concerned have a diversified portfolio of e-currencys, gold and silver and stocks and bonds real estate and businesses. I would not be worried if bitcoin went to zero because i dont have all my wealth stored in it. I do own a little.

Lol. I remember e-gold also. It was supposed to be the next big thing. Even some books I think were taking deposits with it. What a disaster that was.

[themike78]

Is it safe to withdraw and deposit BTC again at Books, or is there still a risk of being "forked"?

You might not get "forked" but you might get fuked like I did. It took 2 hours for a transfer that I made earlier to go through. I don't see how any of this garbage made anything go faster. I don't know maybe it's too early to tell.

[Optional]

Blocks aren't even close to full at the moment. There should be no more than 10 min delay right now.

[raiders72001]

Can anyone explain the current situation in layman's terms for someone holding BTC in a Blockchain.info wallet? Is there anything to do, or just sit back?

https://themerkle.com/how-to-recover-your-bitcoins-from-blockchain-info-using-electrum/

[Jnas]

Is it safe to withdraw and deposit BTC again at Books, or is there still a risk of being "forked"?

got a bitcoin payout to blockchain from justbet at 9pm with no problems.

sent bitcoin out a few minutes later with no problems.

interesting the regular send recommended fee at blockchain was like 3 cents

[DwightShrute]

just like the Y2K.... much to do about nothing


sent a bitcoin and in my account in 15 minutes'

[evo34]

Thanks, raiders and optional. Found this, too:

https://bitcoinmagazine.com/articles/beginners-guide-claiming-your-bitcoin-cash-and-selling-it/

[raiders72001]

Dwight - I used the same Y2K analogy a few days ago.

All of it is overblown. A majority of miners would have to switch to BCC for problems to occur. It reminds me of Y2K.

[DwightShrute]

Dwight - I used the same Y2K analogy a few days ago.

great minds think alike. Sorry I must have missed it.

[RonPaul2008]

How is it like y2k? BCC worth 13% of BTC.

[DwightShrute]

How is it like y2k? BCC worth 13% of BTC.

I think BCC might die off

[trytrytry]

just like the Y2K.... much to do about nothing


sent a bitcoin and in my account in 15 minutes'

I could not disagree more if you watched this past 16 hours. just tons of highs and lows and movement and intersting things and huge value on the new coins $525+ if you timed it right or more. like free funds out of the blue.

granted nothing Crashed or went to Zero as some were predicting so in that way like Y2K did not cause a world power outage I can see comparison. Which is good. in a few days ancient history this stuff.

but for action and interest and good discussions at many forums and live youtube chats this blew away Y2K I know I stayed up for ~33 hour that day watching round the clock coverage (pre twitter of course!) like this one too.

[MeanPeopleSuck]

Sure send all your bitcoins to an exchange because there is no chance an exchange like BTC-E can steal from you when they get busted. I love these threads with all these people giving advice on what to do.

Hey, Legions, I sold all my BCC at Bittrex for $870 today, although my timing was far from perfect -- BCC hit $1200.

What'd you get for your BCC, Legions? Oh, right, my bad. You CAN'T sell yours, can you, because it's locked into a private wallet with no liquidity.

Well, we all make our choices. You just can't seem to make any good ones, can you?

[MeanPeopleSuck]

Heh, heh, heh. Beauty post, Jake!