Re: Can you explain the Hard Fork on BTC?

ok let's make it more simple. you told us york 15 mln x 2 etc...

now let's say someone has 100 BTC in his wallet. as we speak happens the hard fork. what will be the result for this someone?

EDIT: roland we had the same question to be answered

Basically it depends where your wallet/coins are.

1. If you use a online wallet/service, you are locked into chain that they choose. Your coins will be valid still but on that single new chain.

2. If you use a wallet you control, depends on what chain you connect to. But, just using a local wallet, or a hardware wallet, at least you'll in time be able to choose a chain or other wallet provider you chose by configuration or by restoring your private key seed to a service on the chain you want to transact on.

Technically you could on both I guess if they remain forked after a while and there is not safeguards in place by exchanges/exit ramps to broadcast on both.

-T

Quote from: btcmerich on March 17, 2017, 11:29:29 PM

Quote from: bitcoinvest on March 17, 2017, 11:23:02 PM

you will have 100 BTC and also you will have 100 BU.

You two are contradicting each other, aren't you??

Say i use blockchain as my webwallet, will i receive BU coins, or BTC coins? is there any statement regarding which chain they will choose?
Same goes for Electrum, what will they choose?

I don't understand the rise of popularity in a hardfork, it looks extremely dumb to me, and with me alot of other traders it looks like, if we see the current prices. Why do they keep pushing it?

I said , when you have BTC in your wallet like 100 BTC when hard fork happens you will have 100 BU as well. it is like train on rails. right now btc has one single rail . After hard fork a new parallel rail will be created. so what ever you had before the fork you will have on the new rail.

this picture might help

http://cointimes.tech/wp-content/uploads/2016/08/forking_event-960x294.png