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The whole thing about the Satoshi coins is really confusing to myself and I think most people. So you keep your initial Bitcoin the real BTC. You'll also get these Segwit2X tokens. I'm not really sure what they mean by Satoshi Nakamoto tokens, not sure if there's two coins we receive or if they are just saying you'll keep your initial coins.
In regards to what you need to do at this point nothing. Hypothetically if you wanted to you could sell your futures today through HitBTC for over $1100, just af ew days ago futures were selling at $400. I'm gonna sit on mine and see what happens. Basically sometime after block 555 and some change tomorrow the fork is done. You may get the coins instantly you may have to wait a few days, depends on how Binance handles it but I would imagine if not tomorrow within the next day or two you should see them in your wallet. You'll see a ticker symbol for S2X I believe.
Any idea where I can read about it on Binance website? Or is there anything?
I don't believe they have anything specifically explaining forks or talking about an exact date on when your coins will be available. I would say 50% chance they show up in your account immediately tomorrow, 50% chance it may take 1-3 days. It really depends on if replay protection is properly setup ie they don't want to give them to you until it's safe to do so.
Not to overcomplicate things but because forks are somewhat tied into Bitcoin and Bitcoin addresses they want to make sure there's a way to distinguish the new coin from the old, otherwise if you send Bitcoin2X it could send your real Bitcoin with it or vice versa.
If only I was smart like you. I would avoid Bitcoin and not have a 500% return in 4 months and would pass up free money.
I personally have no issue with people being critical of Bitcoin and quite frankly I welcome it, however I wish people would actually educate themselves and make well thought out arguments ie scaling issues, utility issues, is Lightening network really a good fix, is it secure, but BeerGeek and most others simply say one word lines like tulips and beanie babies and bubbles and can't seem to articulate an argument so we can actually engage in an intellectual debate on the issues.
I personally have no issue with people being critical of Bitcoin and quite frankly I welcome it, however I wish people would actually educate themselves and make well thought out arguments ie scaling issues, utility issues, is Lightening network really a good fix, is it secure, but BeerGeek and most others simply say one word lines like tulips and beanie babies and bubbles and can't seem to articulate an argument so we can actually engage in an intellectual debate on the issues.
Exactly. Tulip Mania lasted 3 years before imploding. Bitcoin has been around for 9 years and has had numerous corrections but has always come back. I do not see how you can complete are the two. Information travels fast today. If it was like tulip mania it would have collapsed long ago.
And...someone get anything yet on Binance? Just checked and received nothing, as expected.
The fork isn't going to happen until block 501451 and even at that point they may not instantly hand them out. Here's where you can check what block we are on...
I'm hoping that Coinbase holds on to these and if they succeed, give us the coins eventually.
I would say Coinbase is almost 100% not going to give out these coins. This segwit2x doesn't have a lot of support, turns out it's not even the origional development team behind it.
Bittrex still hasn't come out and said whether they will deal with this which probably means no, if Bittrex isn't doing it Coinbase 100% won't do it.
Technically speaking Binance has said "we will support every fork" however they do have some fine print stating unless we dictate it's not safe so even on Binance were not 100% going to get it but I'm fairly confident we will. Honestly probably the best thing to do is go over to HitBTC and sell futures, yesterday you could have gotten $1200, today it's down to $500. once this is released and people have access to it they are going to dump like crazy and the price should tank so I would sell as quickly as you can.
One other thing a bit off topic but NXT coin is doing an airdrop of Ignus today at 0.5:1 so if you have 100 NXT you get 50 Ignis. Right now Ignis futures are trading at $3.55
Okay so have a bit of an update on the fork. This has been very under-reported even by the top Bitcoin news sites, Coinbase and exchanges havn't really made this clear, etc.
So the development team behind this current Segwit2X is not the origional development team. Don't get me wrong it's still going to happen but in terms of it having support very unlikely anyone will really support it.
Essentially this new development team is basically piggybacking off the notoriety of the previous Segwit2X project which was part of the NY agreement. Anyhow these guys are launching another coin called the origional satashi nakamoto coin, essentially they are trying to enrish themselves by creating a BS coin and premining it and hoping it has some value.
So what does this mean for you? Well you'll still get your coin, it's just a BS coin that's probably going to lose value quickly. Fork will probably happen around 2:30PM Central time today roughly. I personally am probably not going to do this as I'm just too lazy and don't want to pay the transfer fees but probably the most profitable move, IMHO, would be to send Bitcoins over to HitBTC, sell the futures for $377 and call it a day. Now keep in mind yesterday futures were trading at $1200 and even last night at $500 so this project is already losing support. The faster you can dump it the more money you'll get and I highly doubt this project will come back in price later down the road like we saw with Bitcoin cash where it initially tanked but has since come back with a higher value.
Selling futures would probably be the best move, second best move is the second these coins hit your exchange account, the exchange should split them for you, dump immediately. Youl'll probably beat the people to it who have their coins in wallets where they control the keys as typically Trezor and Ledger aren't as quick to roll out a way to claim these where as exchanges typically immediately split them and hand them out. As soon as everyone starts getting access to these coins the dump for free money will begin.
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