LogFAQs > #892512013

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Topic	Cryptocurrency hype topic [That Litecoin tho]
foolm0r0n 12/19/17 2:48:38 PM #54:	ChaosTonyV4 posted... Also I just read that if you have BTC on Coinbase and the projected fork of B2K happens, you'll be credited with an equal amount of B2K? No, Coinbase will be credited an equal amount. You don't get control of your forked coins unless you control your private keys. A fork is just what it sounds like, it splits the chain into 2. One is the main bitcoin chain, and the other is the altcoin. They both share the same history, so naturally you have an exact copy in the alt chain as you do on the bitcoin chain. It's not necessarily free money since theoretically people have to buy in to the new chain from the main chain, splitting the value. In practice it ends up being free money because none of the previous forks (cash, gold) actually caused the BTC price to drop, while the alt increased in value. So you can claim your coin on the alt chain and then sell it for more BTC. For example right now BCH is 0.13 BTC, so if you haven't claimed your BCH yet (and you had control of your private keys before August 1) then you can sell it to gain a free 13% boost to your BTC. I sold mine when it was about 9% way back when. And then BTG for about 3%. --- _foolmo_ 2 + 2 = 4 <cite>foolm0r0n posted [p:892512013] in Cryptocurr... [t:76092540]...</cite> <quote><cite>ChaosTonyV4 posted...</cite> <quote>Also I just read that if you have BTC on Coinbase and the projected fork of B2K happens, you'll be credited with an equal amount of B2K?</quote> No, Coinbase will be credited an equal amount. You don't get control of your forked coins unless you control your private keys. A fork is just what it sounds like, it splits the chain into 2. One is the main bitcoin chain, and the other is the altcoin. They both share the same history, so naturally you have an exact copy in the alt chain as you do on the bitcoin chain. It's not necessarily free money since theoretically people have to buy in to the new chain from the main chain, splitting the value. In practice it ends up being free money because none of the previous forks (cash, gold) actually caused the BTC price to drop, while the alt increased in value. So you can claim your coin on the alt chain and then sell it for more BTC. For example right now BCH is 0.13 BTC, so if you haven't claimed your BCH yet (and you had control of your private keys before August 1) then you can sell it to gain a free 13% boost to your BTC. I sold mine when it was about 9% way back when. And then BTG for about 3%. --- _foolmo_ 2 + 2 = 4</quote> ... Copied to Clipboard!
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