If you're a Bitcoiner then you might be lucky enough to receive two whole shitcoin airdrops this year. Here is what you need to know, including a few warnings and how you can stay safe.
This year, two of the most eccentric Bitcoiners who couldn't succeessfully change Bitcoin even if they sold their mother, will finally fork off and find out how it feels to be a shitcoiner with your own chain:
- Paul Sports, the BIP300 guy who hates Lightning more than I hate shitcoins, and
- Luke Dashjr, the BIP110 guy who eats cats and can't stop thinking about CSAM.
Strange characters, great to see them go their own way.
What does that mean for you? If you have say 1 BTC to your name, you will now also have 1 Paul-BTC and 1 Luke-BTC. Even if your own Bitcoin is stored on a hardware wallet, you will now also have two shitcoins that are also secured with the same keys as your real Bitcoin.
Do I have to do anything? No. This all happens automatically. You don't need to do anything, you wouldn't even notice anything has happened. After all, what do you care whether some dude has forked Bitcoin and decided to become a shitcoiner. You can chill.
What if I want to dump it? Obviously both of these shitcoins will be worthless and will go to zero so you might be tempted to sell them. Many of us never played with shitcoins so this is a real temptation. In the most likely case, there won't even be an exchange where you can sell these coins because both are going to be pretty small and pathetic, unlike previous attacks on Bitcoin that tried to fork (Bitcoin Cash, Bitcoin Gold, ...).
If you decide to move these shitcoins to an exchange (and assuming there will be wallets that help you do so), a few things are important to keep in mind:
- There will be wallets that help you move your forked shitcoins. These wallets might ask you for your hardware wallet's seed phrase and pretend to be nice but will actually steal all your BTC. NEVER AND IN NO CIRCUMSTANCE ENTER YOUR HARDWARE WALLET'S SEED PHRASE INTO A COMPUTER. Wait for reputable wallets to appear that have been audited and thread extremely carefully. Even if you're a "pro Bitcoiner" you can lose your life savings if you mess this up. I repeat: If you enter your seed phrase into a malicious wallet, you could lose all of your REAL Bitcoins, not only that fake shit.
- If you successfully moved your shitcoins off your wallet, you might be tempted to sell them on an exchange, assuming there will be one. Note that WHICHEVER SHITCOIN UTXO YOU DOXX (i.e. connect with your identity), ALSO DOXXES YOUR REAL BITCOIN. If you deposit your Luke-shitcoin to an exchange, that exchange WILL ALLSO SEE YOUR REAL BITCOIN on the real blockchain. If you send all your shitcoins to a random guy on the internet, that random guy will also see your entire real bitcoin stack. This is because the fork mirrors Bitcoin's history.
So the summary is:
- wallets will be released that appear to help you to move your shitcoins but they actually want to steal your Bitcoin. Dangerous.
- if you move your shitcoins and connect them to your identity, then you also doxx your real bitcoins. Dangerous.
- If you don't do anything, you're safe. Basically "play stupid games, win stupid prizes".
Stay safe. Reject shitcoins.
This year, two of the most eccentric Bitcoiners who couldn't succeessfully change Bitcoin even if they sold their mother, will finally fork off and find out how it feels to be a shitcoiner with your own chain:
- Paul Sports, the BIP300 guy who hates Lightning more than I hate shitcoins, and
- Luke Dashjr, the BIP110 guy who eats cats and can't stop thinking about CSAM.
Strange characters, great to see them go their own way.
What does that mean for you? If you have say 1 BTC to your name, you will now also have 1 Paul-BTC and 1 Luke-BTC. Even if your own Bitcoin is stored on a hardware wallet, you will now also have two shitcoins that are also secured with the same keys as your real Bitcoin.
Do I have to do anything? No. This all happens automatically. You don't need to do anything, you wouldn't even notice anything has happened. After all, what do you care whether some dude has forked Bitcoin and decided to become a shitcoiner. You can chill.
What if I want to dump it? Obviously both of these shitcoins will be worthless and will go to zero so you might be tempted to sell them. Many of us never played with shitcoins so this is a real temptation. In the most likely case, there won't even be an exchange where you can sell these coins because both are going to be pretty small and pathetic, unlike previous attacks on Bitcoin that tried to fork (Bitcoin Cash, Bitcoin Gold, ...).
If you decide to move these shitcoins to an exchange (and assuming there will be wallets that help you do so), a few things are important to keep in mind:
- There will be wallets that help you move your forked shitcoins. These wallets might ask you for your hardware wallet's seed phrase and pretend to be nice but will actually steal all your BTC. NEVER AND IN NO CIRCUMSTANCE ENTER YOUR HARDWARE WALLET'S SEED PHRASE INTO A COMPUTER. Wait for reputable wallets to appear that have been audited and thread extremely carefully. Even if you're a "pro Bitcoiner" you can lose your life savings if you mess this up. I repeat: If you enter your seed phrase into a malicious wallet, you could lose all of your REAL Bitcoins, not only that fake shit.
- If you successfully moved your shitcoins off your wallet, you might be tempted to sell them on an exchange, assuming there will be one. Note that WHICHEVER SHITCOIN UTXO YOU DOXX (i.e. connect with your identity), ALSO DOXXES YOUR REAL BITCOIN. If you deposit your Luke-shitcoin to an exchange, that exchange WILL ALLSO SEE YOUR REAL BITCOIN on the real blockchain. If you send all your shitcoins to a random guy on the internet, that random guy will also see your entire real bitcoin stack. This is because the fork mirrors Bitcoin's history.
So the summary is:
- wallets will be released that appear to help you to move your shitcoins but they actually want to steal your Bitcoin. Dangerous.
- if you move your shitcoins and connect them to your identity, then you also doxx your real bitcoins. Dangerous.
- If you don't do anything, you're safe. Basically "play stupid games, win stupid prizes".
Stay safe. Reject shitcoins.
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