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    Author Topic: Concerned BTC holder: are different versions of the Bitcoin protocol compatible?  (Read 471 times)

    • Minosse (OP)
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    December 15, 2015, 12:04:51 PM
    Last edit: December 15, 2015, 12:18:06 PM by Minosse
     #1
    I'll start by saying I love BTC but I'm not knowledgeable enough to understand the difference in terms of compatibility between the various BIPs, Bitcoin XT, bigger blocks, etc. However it kind of makes me worried to think that my "traditional" BTC could become useless if another version of the protocol took over. Are my concerns valid? What do we "traditional" BTC holders have to fear? I'd love if you could be as clear as possible. Thanks

  • Kepler510
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    December 15, 2015, 12:11:30 PM
     #2
    You do not need to worry.

    because they are only differentiator from all accounts BTC. So it was just to sort and deliver an identification only.

  • DarkHyudrA
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    December 15, 2015, 12:32:34 PM
     #3
    All of this fuss because of the hard forks doesn't have to be feared by the common user.
    All your money is saved by the blockchain. What could happen is that, if no advice were given, you could pay with in the old blockchain, receive a product, and on the new blockchain this transaction never happened, meaning that the vendor lost his money. Hard to occur that, but still possible.
    English <-> Brazilian Portuguese translations

  • franky1
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    December 15, 2015, 01:10:03 PM
    Last edit: December 15, 2015, 01:45:52 PM by franky1
     #4
    Quote from: Minosse on December 15, 2015, 12:04:51 PM
    I'll start by saying I love BTC but I'm not knowledgeable enough to understand the difference in terms of compatibility between the various BIPs, Bitcoin XT, bigger blocks, etc. However it kind of makes me worried to think that my "traditional" BTC could become useless if another version of the protocol took over. Are my concerns valid? What do we "traditional" BTC holders have to fear? I'd love if you could be as clear as possible. Thanks

    you main access to your bitcoins is with the privatekey-publickey pair..

    nothing is messing with that. so even if you had a private key from 2009 or made one from any different type of client. it will still work. you will always be able to import your private keys into any version of bitcoin clients
    all of the proposed changes are just about letting more transactions occur, and not affecting the privatekey-public key part, so relax
    I DO NOT TRADE OR ACT AS ESCROW ON THIS FORUM EVER.
    Please do your own research & respect what is written here as both researched opinion & information gleaned from experience. many people replying with insults but no on-topic content substance, automatically are 'facepalmed' and yawned at

  • Amph
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    December 15, 2015, 03:30:27 PM
     #5
    in the future if they will change the format of the wallet data(for whatever reason) i'm sure it will be announced prior the changing, or they will made it retro-compatible

    there is no way they are going to screw everyone because of a change, you should be more worried about the bitcoin value, because if it will not meet the "criteria" requested by the mienrs, you know what will happen

  • Mickeyb
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    December 15, 2015, 04:26:15 PM
     #6
    OP, please don't worry as your money is very safe. Bitcoin is not a joke and devs would never play like that with people's investment!

    As others have already said, I am posting once more to reassure you, you have nothing to worry about mate!
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