need to double check everything went as planned before taking the main network online. Step 4 hodl (AKA waiting) Now that you have your new coins, you can either: Hold on for Dear Life (AKA hodl) and wait for them to go up in value. If you have been paying attention to bitcoin at all lately, you may have noticed a lot of talk going on about forks. Kevin Zhou, operator of crypto hedge fund Galois Capital, responded similarly, arguing that he believes the fork will be lopsided in how it allocates the underlying network effect between the two competing technologies.
If you arent planning to hodl long, it makes sense to sell quickly. Annoyingly, many wallets/exchanges have a habit of not telling their users whether or not they will support a fork until after the fact. Being in a third party wallet or exchange : Sometimes third party wallets and exchanges will support forks, sometimes they wont. r bitcoin is primarily for news and discussion. With forks the block height (AKA block number) matters, the date is just an approximation. Dont do this, wait for official instructions! Not without precedent, a similar event took place on ethereum last summer, when members of that community created a new cryptocurrency to protest a design decision by developers. If you have a fairly powerful computer that is almost always online, you can help the network by running Bitcoin Core. Using a third party is the simplest solution for coins in many ways, but it can be the most stressful as all your friends are already configuring their wallets and trading futures you are just like I wonder if Coinbase is going to blog about.
Say, instead of 1MB blocks, a new rule might only allow 500K blocks. So far, we know some forks resolve on their own, but others, fueled by deep rifts in a community, can cause a network to permanently split, creating two blockchain histories and two separate currencies. Super simple version of claiming coins from an airdrop from any coin like Ethereum (this works regardless of why an airdrop is happening) : Be in a wallet where you control your private keys before the snapshot block of an event (to send out. That is the gist, lets not focus on the nuts and bolts of forks here.