Practical Guide to the Bitcoin Hard Fork \ stacker news ~bitcoin

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Practical Guide to the Bitcoin Hard Fork

471 sats \ 28 comments \ @jakoyoh629 1 Nov bitcoin_beginners

@nerd2ninja posted about this yesterday and it got me super curious to learn more about the whole thing. There's a ton of info online about what it is and why it happens, but I couldn't find anything that didn't look like a total scam about the real, practical stuff. Like, what do you even do? How do you do it? What tools should you use? What should you look out for, you know? If you could point me toward a legit site with good info, I'd really appreciate it.

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142 sats \ 22 replies \ @DarthCoin 1 Nov

IF (but is a big if) will be a HF, will be the same as in 2017, or worse (because now we have LN). How did you do it in 2017, when was the great fork of shitcoiners BCH? If will be a HF you can consider it as a direct attack on LN. It will be a real disruption for LN nodes.

0 sats \ 15 replies \ @jakoyoh629 OP 1 Nov

This is just curiosity and being cautious, you know, you gotta know what to do just in case. Rushing things usually ends up as straight sh*t. I found this site, and the info looks kinda solid, but then toward the end it starts talking about software I've never even heard of. Can you check it out for me?

https://99bitcoins.com/cryptocurrency/bitcoin/bitcoin-forks/

121 sats \ 13 replies \ @nerd2ninja 1 Nov

In my opinion those software they recommend are over engineered.

If you've connected sparrow wallet to your own node you're already miles ahead.

Its then just a process of: spin up your node send your coins to another address in your own wallet

spin up the forks node (note it will look like your coins didn't move once synced, repeat step 1 if this is not the case) spend those coins to a different address

Once those 2 transactions are confirmed on their respective chains, your utxos are now safely independent of each other.

0 sats \ 11 replies \ @jakoyoh629 OP 1 Nov

For people who don't run their own node, what's the best move? I'm guessing there's no deadline to actually claim the forkcoins, right? The timing is only important for anyone tryna dump them. And seriously, is there no trustable wallet out there where you can actually pick the blockchain you want?

167 sats \ 8 replies \ @nerd2ninja 1 Nov

NO do not, I repeat DO NOT "trust" a wallet to connect to the node that has the chain that you believe is Bitcoin. The WAR part of fork war is people trying to hurt each other.

If the wallet you pick has a different opinion than you on which chain is actually Bitcoin, you could be fooled into sending your coins into the void (the same address on the wrong chain which is effectively the void if you don't know how to do something simple like connect sparrow to a node)

Okay seriously, Sparrow doesn't even require you to install electrum server. Just run your node and electrum on the same computer and follow instructions

Here's a video from kahoob (a Bitcoiner I know from a Bitcoin discord)

0 sats \ 7 replies \ @jakoyoh629 OP 1 Nov

How does Bitcoin Core know the intended blockchain?

25 sats \ 6 replies \ @nerd2ninja 1 Nov

Well the entire reason there is a chain split is because one chains follows one set of rules, and another chain follows a different set of rules which at some point caused a block to be accepted in one chain and rejected in the other.

0 sats \ 5 replies \ @jakoyoh629 OP 1 Nov

Gotcha. So, if I'm understanding this right, to safely claim the coins from both blockchains, we need to have Bitcoin Core and Knots, and then connect Sparrow to both of them, one at a time, of course. Is that it?

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0 sats \ 1 reply \ @DarthCoin 1 Nov

learn to run a node with different chains hahahaha You have plenty of time to practice. Bitcoin is only for the brave...

0 sats \ 0 replies \ @jakoyoh629 OP 1 Nov

Any guide for that?

0 sats \ 0 replies \ @DarthCoin 1 Nov

right, you must run both chains and never appeal to any "claim services". Are all scams.

28 sats \ 0 replies \ @DarthCoin 1 Nov

Yes, but the situation is a bit different than in 2017. Be aware of scams, of so called "claim services" ! They only want your private keys and you are fucked, on BOTH chains !

So if you don't know how to do it, you better just stick with a chain and never "claim" the others.

0 sats \ 5 replies \ @028559d218 1 Nov

THIS is exactly what I wanted to ask. Should I close all my Lightning channels now, just in case?

I read @nerd2ninja 's post and it said your coins can be spent on the 'other' network if you spend them on this one...

Does that effect Lightning? Thank you

0 sats \ 4 replies \ @DarthCoin 1 Nov

Right now? No, don't close them. In general? No, don't close them. Only in the case is a real hard fork. But hard forks do not just happen. Could be dangerous? Maybe if you have bad actors peers that want to screw you over. A simple protection could be to use watchtowers. You will need to close the channels only if you want to recover the "new coins" from the other forked chain and as a precaution to preserve the control of the existing channels.

Yes it will be a lot of disruptions because are many noobs out there running public LN nodes and they do not know what they are doing.

Just don't panic now. It could be just a fuzz in the end. The whole situation is stupid.

0 sats \ 3 replies \ @028559d218 1 Nov

Thanks. I have no interest in the 'fork' or forked coins frankly. I don't want to sell them or interact with them... based on what @nerd2ninja said doing so could compromise the 'current' Bitcoin keys and so I don't want anything to do with them.

42 sats \ 2 replies \ @DarthCoin 1 Nov

I did it in 2017, nicely doubling my stash. But yeah you have to do it properly, sweeping the new coins into new addresses. And also on the right time.

0 sats \ 1 reply \ @jakoyoh629 OP 1 Nov

sweeping the new coins into new addresses. And also on the right time.

Can you break that down?

0 sats \ 0 replies \ @DarthCoin 1 Nov

#1271472

0 sats \ 0 replies \ @beyond_turbulence 1 Nov

Thanks -> #1271710

0 sats \ 1 reply \ @j7hB75 1 Nov

https://learnmeabitcoin.com/technical/blockchain/hard-fork/

0 sats \ 0 replies \ @jakoyoh629 OP 1 Nov

No how-to guide.

0 sats \ 1 reply \ @denlillaapan 1 Nov

for now, it's too ridiculous to even believe.

My money is on: won't happen, no need to worry.

0 sats \ 0 replies \ @028559d218 1 Nov

I believe it will probably happen. The anti-spam people (who apparently never transact) want to stop/remove the spam and are concerned about csam/cp/illegal content getting in the chain.

So they are proposing a hard-fork + chain rollback.