How to Access your Free Bitcoin Gold and Segwit 2 Coins after the Bitcoin Forks

[Newporttom]

Here's email I got from Coinbase. (I have a whopping $800 worth of Bitcion)

We wanted to give you an update on two upcoming Bitcoin forks—Bitcoin Segwit2x and Bitcoin Gold. You can read more about what a digital currency fork is here and see our prior update here.

We operate by the principle that our customers should benefit to the greatest extent possible from hard forks or other unexpected events. This is essential in our mission to make Coinbase the most trusted, safe, and easy-to-use digital currency exchange.

Bitcoin Segwit2x

The Bitcoin Segwit2x fork is projected to take place on November 16th and will result in two bitcoin blockchains. Following the fork, Coinbase will continue referring to the current bitcoin blockchain as Bitcoin and the forked blockchain as Bitcoin2x.

Any customer with a Bitcoin balance on Coinbase at the time of the fork will be credited with an equal amount of the Bitcoin2x asset on the Bitcoin2x blockchain. No action is required—we will automatically credit your account. So, if you have 5 Bitcoin stored on Coinbase before the fork; you will have 5 Bitcoin and 5 Bitcoin2x following the event.

For more information about Bitcoin2x please see our FAQ page and our blog post for a detailed timeline of events.

Bitcoin Gold

The Bitcoin Gold fork occurred on October 23rd. Information about this fork has been limited and there are concerns about its security and stability. As a result, we do not believe it is safe to allow support for Bitcoin Gold at this time. If the blockchain proves to be secure and valuable, Coinbase may choose to support it.

For more information about Bitcoin Gold please see our FAQ page.

Over the coming weeks, we will keep you updated on this event through our blog, status page and twitter.

Thank you,
Coinbase Team

[doodlemagic]

Originally Posted by stockwiz

This is not going to end well.. reminds me of the Tulip craze. I would not invest here after it was at $500 just a year ago. Wait for the consolidation. The whole point of bitcoin being scarce goes out the window when they create fork after fork, diluting the overall supply, forget about the hundreds of altcoins out there. I missed out on a lot of profit never expecting bitcoin to go so high, but I sold my NEM stake and am sitting good so I have nothing to complain about.

I believe in the tech, but as an investor I can't invest here at $6000 per coin before we get consolidation.

Stockwiz, just curious why you compare this to the tulip craze? Don't get me wrong I know everyone loves to compare cryptos and bitcoin to tulips and beanie babies but I honestly woudln't expect someone who's invested in the space, especially in NEM a lesser known crypto to be comparing it to tulips. I could get into a whole thing about the whole tulip analogy and how cryptos don't compare and how even the tulip craze wasn't what most people who refer to it think it was but that's besides the point.

I don't think the point of Bitcoin is it being scarce, maybe in the sense it can't be endlessly printed like Dollars but Bitcoin can be subdivided into 0.0005 bitcoin etc so as the value goes up it just doesn't take as much to buy. What used to cost 100 Bitcoins now costs 0.01 Bitcoins and down the road if the value continues to go up things that cost 0.01 Bitcoin will cost 0.0001 Bitcoin etc.

Not sure what you mean by consolidation? Are you wanting some of these altcoins to go away?

In terms of Bitcoin forking people can fork Bitcoin anytime they want I don't think it really affects the value of Bitcoin. Bitcoin Cash while had more support than Bitcoin Gold hasn't really taken a significant amount of marketshare from Bitcoin and in terms of value we've actually seen the value increase.

The current fork Bitcoin Gold has almost no support, Segwit2X will have more support and while I don't think it will happen could wind up being the true Bitcoin but again people can fork all they want as more forks happen people will take them less seriously and they will just be altcoins with each progressive fork having less and less value. This Bitcoin Gold fork was nothing more than a money grab to make the developer rich.

I think we'll see 10K Bitcoin within the next year and while I personally don't buy into the Million Dollar Bitcoin stranger things have happenned. I could easily see Bitcoin being above 50k in 5-10 years.