What happens during a fork? What is a replay attack? What to know & what to do before a cryptocurrency fork. Imagine Jean-Luc Picard and a transporter malfunction…

This is part of a talk which took place at the ‘Bitcoins in Bali’ meetup on June 27th 2017 at the Hubud co-working space in Ubud, Bali, Indonesia: https://antonopoulos.com/event/bitcoins-in-bali-meetup/

RELATED:
Forkology: A Study of Forks for Newbies – https://youtu.be/rpeceXY1QBM
Hardware, Software, Trustware – https://youtu.be/Etyjc1JdmFU
What happens to our bitcoins during a hard fork? – https://youtu.be/sNR76fWd7-0
The dangers of hard forks in protocol evolution – https://youtu.be/vxEHRvhJKvA
Lessons from the Ethereum hard fork – https://youtu.be/hnAWAVNnGCw
Hard forks and the cultural mulligan – https://youtu.be/KT-7APasANI
Is Bitcoin a democracy? – https://youtu.be/TC3Hq76UT5g
Are chain splits a governance failure? – https://youtu.be/2pJEEVEmEVw
Why failure is necessary for learning – https://youtu.be/2KZTx8IYc9s

Andreas M. Antonopoulos is a technologist and serial entrepreneur who has become one of the most well-known and well-respected figures in bitcoin.

Follow on Twitter: @aantonop https://twitter.com/aantonop
Website: https://antonopoulos.com/

He is the author of two books: “Mastering Bitcoin,” published by O’Reilly Media and considered the best technical guide to bitcoin; “The Internet of Money,” a book about why bitcoin matters.

THE INTERNET OF MONEY, v1: https://www.amazon.co.uk/Internet-Money-collection-Andreas-Antonopoulos/dp/1537000454/ref=asap_bc?ie=UTF8

MASTERING BITCOIN: https://www.amazon.co.uk/Mastering-Bitcoin-Unlocking-Digital-Cryptocurrencies/dp/1449374042

[NEW] MASTERING BITCOIN, 2nd Edition: https://www.amazon.com/Mastering-Bitcoin-Programming-Open-Blockchain/dp/1491954388

Subscribe to the channel to learn more about Bitcoin & open blockchains!

If you want early-access to talks and a chance to participate in a monthly LIVE Q&A with Andreas, become a patron: https://www.patreon.com/aantonop

Music: “Unbounded” by Orfan (https://www.facebook.com/Orfan/)
Outro Graphics: Phneep (http://www.phneep.com/)
Outro Art: Rock Barcellos (http://www.rockincomics.com.br/)

source

29 COMMENTS

  1. Im still confused. If I own Bitcoin now and in the future their is a fork it split in two. I get that part. But what if I sell my regular bitcoin thats currently at 15k for fiat. Do I still have extra money on this new currency? Say Bitcoin gold?

  2. Cool so 'debasing' bitcoin has made its hodlers(pre-fork) richer. Since it behaves like a store of value at present it is more like unlocking the value of an asset through a spin-off. It will be interesting to see how bitcoin is priced once its function as a store of value stabilizes and a fork comes up. Market forces decide the price. However, forking does cause business uncertainty atleast for sometime leading up to and after, but then again so does fiat.
    As always, great stuff Andreas !!! Thank you.

  3. REPLAY ATTACK by B2X to harm bitcoin in November 2017, scamers to steal value from bitcoin holders, by telling them to quickly get their "free money". — The best would be to only use bitcoin and leave the "free money" be, so replay can only be made on the worthless chain, not the one for store of value. Bitcoin Gold on October-25 seems less a problem, would be a nice coin for mining… B-cash could be used be chinese government for official digital value saving and trading coin. — Is it the best solution to have bitcoin on the SEGWIT- or even Legacy-chain and only use this and make no transactions with any forked, fake-bitcoin? Is it still necessary to move the bitcoins or even to generate a new private key? This really is difficult stuff, the forkers always say the want to make real bitcoin, but the only attack it and bring confusion to the whole thing (and in the end bitcoin goes out much stronger).

  4. I don't care all this stuff..all i care is btc to moon no matter whatever means..do what good for btc many hard earned money in btc by poor too… make poor rich and give freedom from inflation..one stupid mistake can lead whole crypto currency pay and no believe in system this time..like my.gox

  5. Can you explain double-spend verses replay a little further please? I find that a fascinating subject as I am trying to learn as much as I can on crypto and blockchain and there are limited good resources on the 'concepts' behind. Thank you!

  6. Can you make a video on the replay attack, as it seems to be possible in november without the replay protection. Really would help people to understand what to do. Only if you have the time of course.

    Thank you for the great content, best teacher on crypto stuff ever 🙂

    Edit: One thing I like about you, you never get political crypto wise. ARE YOU SN? hehe

LEAVE A REPLY

Please enter your comment!
Please enter your name here