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Re: Does the split depend on Exchange? 1 BTC now equals 1 BTC + 1 BCC
I'm trying to understand.
So my btc I already own allows me to get bcc from it. What happens to the old btc?
So my btc I already own allows me to get bcc from it. What happens to the old btc?
You get to keep both.
If you have 1 BTC before the fork, after the fork you'll have 1 BTC + 1 BCC. If you have it on your wallet or an exchange like Kraken who promised their users their respective BCCs. If you're on Coinbase you won't get your BCC, i recommend you withdrawl your BTC as soon as possible to your wallet or a different exchange for august 1st.
Is the value of that btc after the fork any different than before ?
Re: Does the split depend on Exchange? 1 BTC now equals 1 BTC + 1 BCC
I am on multiple exchanges and some have come outright and said after the split, 1 BTC holder will have 1 BTC + 1 BCC after split...some havent addressed this question other than saying they wont support BCC...
What about online vs offline vs exchange wallet...will all BTC holders regardless of location now be credited with 1 BCC in this scenario? or just those who hold BTC on the exchanges mentioned above?
What about online vs offline vs exchange wallet...will all BTC holders regardless of location now be credited with 1 BCC in this scenario? or just those who hold BTC on the exchanges mentioned above?
Nobody gets 'credited'.
The BTC blockchain will be copied on 1 aug to a new chain. So whatever BTC you hold, on the new chain you will have that amount in BCC.
Can you explain a little further for me? If I have btc in cold storage what exactly happens to them after a fork? Does the original btc coin amount remain the same?
I checked blockchain.info and there are 12 confirmations, and the amount seems to be in the wallet on my phone. Cant send tho. I tried the wallet on my android tablet and it wont even show the amount.
Re: 6 hours since sending from Electrum and it hasnt gone through
well copy the address and put it into a block explorer, like blockchain.info/address/ and see if its there and if it has confirms or not.
also check on purse that the address you sent it to is exactly the same as the one they requested you sent it to (no spelling or bad copy and paste mistakes)
also check on purse that the address you sent it to is exactly the same as the one they requested you sent it to (no spelling or bad copy and paste mistakes)
Okay did that. It went to my Purse address and then it went from that address to two others.
Re: 6 hours since sending from Electrum and it hasnt gone through
What exactly do you mean by it says it hasn't sent? Post the addresses you are sending to/from..
Electrum says it sent. The address is a Purse address and its usually instant when I send to Purse.
That being said, I am still not ready to drop fiat right now so I will still keep savings in fiat at the time being.
The main question is do you trust it to put 30 years worth into it and hope nothing bad happens?
Retirement accounts mean different things in different countries. In some places you are forced by the government to have one and you only can only start withdrawing at a certain age. In places like the US, they are optional but you get certain tax benefits and protection from bankruptcy or divorce courts, among other things. Sometimes you get employer matching for every dollar you contribute to an account, such as in a 401k account.
I actively self-manage my IRA accounts and am doing pretty well, so I don't see the need for cashing out everything and going to BTC.
However, there is always talk about the possibility of the US government confiscating retirement accounts to pay down their debts, just like what they did with Social Security. It is not something that they can easily do as they need to pass a lot of unpopular legislation, but it is something you should watch out for.
I actively self-manage my IRA accounts and am doing pretty well, so I don't see the need for cashing out everything and going to BTC.
However, there is always talk about the possibility of the US government confiscating retirement accounts to pay down their debts, just like what they did with Social Security. It is not something that they can easily do as they need to pass a lot of unpopular legislation, but it is something you should watch out for.
Thats one of my main concerns, along with a financial or stock market meltdown. Im kind of torn right now what to do, I could keep funding the Roth IRA as a backup plan to other investments but it is $5500 a year that could go elsewhere.
I am 30. That was based on 30 years from now at 7% with 10k already in there. My main concern is a financial crisis or some sort of bail in, I just dont feel secure having it all tied up in the stock market. Also by the time I am ready to cash out the dollar will be massively devalued from what it is today.
I absolutely keep a retirement account. It scares the hell out of me when you hear facts like 60% of American's don't even have $1000 saved, much less a retirement account. My employer makes contributions into it as well, so why wouldn't I have one? Assuming bitcoin continues to take off, I would hope that my fund managers would invest in bitcoin and I could reap the rewards, and if it fails, then I have my retirement money to fall back on.
Currently at the age of 26, I am estimating needing close to 6 to 7 million to retire properly at age 65. Long way to go, but that's why you start it now, so you have time to let it compound. Also that's minimum, I would eventually like to buy a condo in Hawaii and Myrtle Beach. That is an extra 2.5M and 500k respectively. That seems like a large amount of money, but I plan to be a millionaire by the time I am 40 by continuously maxing out my Roth IRA contributions and then pouring the excess into my 401K. If you can learn to live without needing that money, it is really easy to save and you never even know its not getting paid to you.
Currently at the age of 26, I am estimating needing close to 6 to 7 million to retire properly at age 65. Long way to go, but that's why you start it now, so you have time to let it compound. Also that's minimum, I would eventually like to buy a condo in Hawaii and Myrtle Beach. That is an extra 2.5M and 500k respectively. That seems like a large amount of money, but I plan to be a millionaire by the time I am 40 by continuously maxing out my Roth IRA contributions and then pouring the excess into my 401K. If you can learn to live without needing that money, it is really easy to save and you never even know its not getting paid to you.
My Roth if maxed out from now till Im 60 would only get my $650k. I would rather use the money to buy real estate. I guess your plan is to just do it all? I kind of like that, guess I could keep my Roth as a supplemental plan to my overall wealth building strategy. Just wondering if the $5500 a year would be better off elsewhere.
Some of you missed my point. I am not talking about keeping fiat savings or surplus money, I am talking about a fiat retirement account like a Roth Ira where you fund it with dollars for 30 years then access it when you are over 60 years old.
If you are a true believer that be dollar and other fiats are doomed should you then cash out your fiat retirement account for btc, metals or real estate?
I have a Roth IRA with some money in it and I am debating on if I should liquidate that or keep contributing to it for the next 30 years.
I have a Roth IRA with some money in it and I am debating on if I should liquidate that or keep contributing to it for the next 30 years.
Funny thing is right after I post that I am having trouble with my Trevor, it crashed during the firmware update and my wallet is now empty. Hopefully they have good support.
They probably can't help you too much. Wasn't there a seed given when you first used it? You can restore your addresses using it.Yeah I have the seed so I should be okay, im hoping they dont have to send me a new device.