Alright kids, welcome to Bitcoin chainsplit bootcamp. Here's the most important things to know.
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During a chainsplit, the opinion of "which chain is the real Bitcoin" can be...an opinion. So if you aren't holding your own keys like a fool, you might notice your custodian decided the real Bitcoin was the less popular chain was the real Bitcoin and if you attempt to transfer it elsewhere, it will be "lost".
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In order to have both coins on both chains, you must run both node software.
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Replays. Say you installed the node software of the chain you want to sell off. You transfer those coins, but notice your main stack reflects the same value as your forked coins (if you were selling all of them, 0). Why? In a fork war, people are trying to harm each other. Your signed UTXO is valid on both chains, so someone that doesn't like the chain you're supporting, basically copied and pasted your UTXO to the other chain and waited for it to be mined.
Mitigation: You must first spend the coins on both chains to your own wallet addresses (different addresses ideally) so that when you go to send one set to a custodian for sale later, you don't lose the other.
- You must run a node. Bitcoin wallets by default query someone else's node for your utxos. If the wallet you're using is quering a node with a different opinion than yours about what the real Bitcoin is, you could notice your wallet is not receiving or sending to other people's wallets or other custodians.
