Post
Topic
Board Mining (Altcoins)
Re: Fourth alt coin thread last three got oversized.
by
Last of the V8s
on 11/07/2017, 08:56:18 UTC
afaiu there is a backlog with hardware wallet shops now and it would be hard to get one in before Aug 1st - don't take my word for it, if you can get one in time, great.
(btw i don't recommend them anyway, but that's offtopic here)

the main thing is not to spend any bitcoin just before and for a good while after any split.

some software wallets have announced their plans re splits already.

afaik no exchanges have done so yet - that is dangerous territory anyway

would be nice to know nicehash's plans...

found this helpful https://bitcointalk.org/index.php?topic=2012799.0 [Guide] Handling splits: UASFs, BIP148, etc. esp this part:

What should I do to secure my bitcoins?

First of all, remove all bitcoins possible from banks/exchanges/"hosted wallets". If you can't export your private keys, then you don't actually control the bitcoins. This is a good idea in general, but it's especially important in case of splits. If you're using a Bitcoin bank, then you will have no control over what happens to your coins. Quite possibly, the bank will end up stealing/losing one of the currencies that you should have access to, either through greed/malice or technical incompetence, and the currency they throw away might well be the only one that ends up having any long-term value.

Possible splits are usually predictable some time in advance (see the next section). If in doubt, avoid sending transactions or trusting received transactions 12 hours before and up to a few days after the split time, and check the forum for more news. If a major split happens, I will very likely make a post and news item explaining how to handle the situation. Coins at rest are not at risk.

Generally, after a split:

 - If you want to completely ignore (ie. discard) one of the currencies, and your wallet is already set up to ignore that currency, then you don't have to do anything.
 - If you want to completely ignore (ie. discard) one of the currencies, and your wallet is set up to support only that currency, then you might be able to change the software's settings after the split, or you might have to switch to different wallet software.
 - If you want to use both currencies at the same time or sell one of the currencies, then you will probably have to follow a somewhat-complicated series of steps possibly involving running some extra software in order to cleanly split your coins and eliminate the possibility of replay.
........
 ...........
The next time when a split is predicted to possibly happen is therefore August 1, 2017 at midnight UTC.

During that period it might be unwise to buy and sell gpus etc unless terms are very very clear.