@HOU it is long winded so I’ll just try and summarise. Ba…

brockz ·

@HOU it is long winded so I’ll just try and summarise.
Back end of 2016 early 2017 I am hearing rumours of block size issues, basically block size wars.
Goes quiet for a couple of months but the argument resurfaces again in the summer of 2017.
Lots of different arguments were taking place. Mainly congestion of the blocks concerns, the 1MB limit hindering adaptation, hence the argument for increased block sizes. The SegWit argument was in the background and over overshadowed by everything else.
Now I am hearing of hard forks and soft forks; if there’s a hard fork it will split the chain and how will people know which is the genuine Bitcoin and who keeps the ticker BTC.
GPUs and ASICs argument
Arguments over mining as to the continued use of GPUs and how people should, be able to continue mining on their desktop computers in their bedrooms 🤣 was also happening.
BTCers then were against the hard fork and promised they would sell the forks and it was free money (currency) to be made. I fell into the free money (currency) to be made, camp. All you had to do is hold your BTC the exchange supporting either one of the forks.
July near end of summer 2017
The price of BTC had hit $5k by summer had a pullback but was still up in the thousands.
Hard fork happens. I am holding Bitcoin (BTC) and alts Doge, LTC, XRP, XMR, EOS and Theta extra. I am building a portfolio so I can get rich in the near future.

Holding many alts & BTC in different places not a good idea🚨

I am holdings coins all over the place on different wallets like Mycelium, Coinomi, Exodus extra. Some on centralised exchanges Bittrex, Poloniex and Coinbase to name a few. Also, cold storage the Ledger Nano S.

Exchanging alts to get more BTC, then moving it to exchanges supporting the forks.🚨🚨🚨

This is when I run into issues moving BTC from cold storage the Ledger, centralised exchanges and hot wallets. BTC transactions became stuck for hours and days just like that, out of the blue without warning.
Couldn’t get some of the BTC onto some of the exchanges in time to get some of the forks as well as, liquidate some of the BTC for safety reasons; back then there was no stable coins the likes of Tether (USDt).
I had people I onboarded calling me because their BTC was stuck; wasn’t good due to me telling them Bitcoin was the future of money and now it is stuck. 🤣
Funny thing is, they had me to call but I had nobody to call.☎️ 🤣 Had to figure it out myself and by the time I was getting the calls I knew what to do.😅

Getting your BTC unstuck in 2017

To move your BTC between your wallets, make payments or get it unstuck, you had pay extortionate fees to the miners.
During and just before the fork, I attempted to move $50 of BTC from cold storage to an exchange. Initially everything seemed normal, transaction was broadcasted to the network as normal. Half an hour later nothing is showing on the exchange.
Customer support is poor now with exchanges was even worse back then especially during the split (fork).
If I can recall correctly, you can see the transaction on blockchain.com but with zero confirmation.
Waited hours and days for confirmation whilst I was researching. Then found information online on how you can pay ViaBTC and others to get my BTC moved.
ViaBTC wanted me to pay $400 plus to move $50, I was dumbfounded; nope, I am not paying that was my reaction. Others were doing the same. I was so angry I researched some more and learnt how to rebroadcast the transaction to the network and have it confirmed as normal without paying the extortionate fees. But the fees were still high, from $2 to $10 plus.
Got rid of all the BTC exchanged some to LTC because fees were really good, LTC was fast, big on privacy plus is a fork of BTC but without the ticker.

Replies

HOU ·

“I had people I onboarded calling me because their BTC was stuck;” lmao what a crap storm
“To move your BTC between your wallets, make payments or get it unstuck, you had pay extortionate fees to the miners. “ your BTC was held ransome
“ViaBTC wanted me to pay $400 plus to move $50, I was dumbfounded;” I bet history is going to repeat itself
The 💩storm went from flinging crap to flinging crap with sharp rocks in it.😂