10 May, 2022 seen 27Wow, what a day it was today - stock futures were opening lower, quite lower, Dow Jones index was failing more than 400…
OK, the title might sound too scary, as in fact, I don't feel so worried anymore about this possible Bitcoin hard fork.
Just recently there was a Bitcoin Cash hard fork at the start of August, during which I kind of panicked, as I've been starting my journey in crypto-currency investments just a month before.
Now, once I survived previous fork/split - there are few lessons I learned and looking to apply with next, possible, Bitcoin Gold hard fork in October 2017
Here is what is all about: First Cash, Now Gold? Another Bitcoin Hard Fork Is on the Way
Styled as a rebellion of sorts, bitcoin gold aims to follow a similar launch plan as bitcoin cash – the blockchain that split from bitcoin this summer by way of a "hard fork." The idea of the project is to release an improved protocol, one that will challenge bitcoin cash in particular, and details are now starting to come into focus.
Led by Jack Liao, CEO of Hong Kong mining firm LightningASIC, bitcoin gold is slated to launch on October 25, with its cryptocurrency being opened to exchanges on November 1.
There are a few things I plan to do with my existing bitcoins.
In short - I'm not planning to do anything at all, just wait and see. The thing that interests me the most - possible free money in form of free Bitcoin Gold tokens after the split. As it was in the case with Bitcoin Cash hard fork - owners of Bitcoin received the same amount of Bitcoin Cash.
There was a lot of uncertainty among Bitcoin holders, where to move bitcoins, how to get Bitcoin Cash and so on. I ended up using BTC.com wallet: How to Recover Bitcoin Cash from btc.com Wallet.
During previous hard fork, I moved my bitcoins a lot from wallets to wallets in hopes just to receive free Bitcoin Cash coins. Just latter (it took about 2 weeks) I noticed that Poloniex.com has credited Bitcoin Cash to bitcoin holders on the exchange.
As currently, I don't hold much of the bitcoin, my plan is to move all of my bitcoins to Poloniex.com exchange (sure, it's not a good idea to store your coins on exchanges, because they could be hacked and you could lose all your holdings). Indeed, I have a kind of risky plan.
When moving BTC to Poloniex.com, make sure it's not lent out during hard fork and hope that Poloniex.com will add support for Bitcoin Gold soon.
If there is a free money, I believe Poloniex.com will credit it, after new coin will be introduced to the exchange.
What about you? Leave a comment, readers and I would love to hear.