How to protect your bitcoin in a hard fork
I have had a few questions about protecting bitcoin in a hard fork from friends and colleagues recently. I have also read people asking this question in various bitcoin forums throughout the internet and while I have seen a lot of good advice out there, I have also seen some terrible advice.
Protecting your bitcoin has come to a head recently with a new bitcoin fork about to happen at block 494,784. I will try to spare you my opinion as to what fork is ‘right or wrong’ or any of the politics involved, I will just tell you how to protect your bitcoin by splitting them, as safely as possible, if that is what you chose to do.
I mostly want to help you understand how and why this method of spiting works so you can make the best-informed decision you can. My hope is that if you have already decided to split your coins I can point you to a method that is (relatively) safe and easy to follow so you don't end up being forked.more ...