Hello,
I am a relatively new investor in Bitcoin, and recently I have been reading about a fork to Bitcoin gold. My understanding is that everyone who owns Bitcoin receives the equivalent number of coins in the forked currency, once the fork takes place. Is this correct?
Do I have to store my Bitcoin in a specific wallet (I might be new, but I'm not stupid enough to send my coin to you ;-) ), or do anything to activate this, or will it happen automatically? (If the fork goes ahead, of course).
Thanks for any advice.
Think of this like an airdrop.
Should be similar to what happened on 1st August, when Bitcoin Cash was forked out of bitcoin. Even though i do not know the specifics for bitcoin gold, they will most likely take a snapshot of the bitcoin blockchain and distribute balances this way.
Whether or not you hold the bitcoin gold or convert it into bitcoin is entirely up to you.
Yeah. It's really an airdrop and not a bitcoin split.
Many are afraid when they're hear hard fork but actually it's good for the bitcoin network as the nodes will be upgraded. And it doesn't necessarily affect bitcoin price, only the FUDS are affecting the price as people are dumping their coins