Electrum and Bitcoin Cash Questions

[viking02]

Hey all.  I have questions about this and in the other threads, it seems like there is lot of different answers so i like to know if anyone here can answer these questions pretty clear so others would know and be aware of the answer.


1.  I have bitcoin in my electrum.  So for every bitcoin you have, you get bitcoin cash right?  Thus if you have 1 btc, you get 1 Bitcoincash.  If you have 0.5 bitcoin, you get 0.5 bitcoin cash.  If you have 10 bitcoin cash, you get 10 bitcoincash right?


2.  How do i get the bitcoin cash safely?  I read few threads where person mentioned they got their account hacked when doing this.  But i believe they downloaded the electron cash from a not safe website?  I saw some ppl posted the link to do this but this isn't really easy for most people who are not that good with computers etc.  Can someone here post step by step on how to do this?  Would it be possible if someone post a video of them doing this on youtube?  Of course you could block how much bitcoin you have so others wont know etc.  Or maybe you could do this with tiny amount of bitcoin like 0.000002 just to show 0.000002 in bitcoin cash?


3.  Do you need 2 computers/machines to do this?  I only have 1 laptop where i have electrum on it.  I do not have another computer.  I do have an iphone however.  So could this be done?


4.  Could you test it out with like 0.000001 bitcoin first to get 0.000001 bitcoin cash so you dont put the rest of your bitcoins at risk?


5.  When doing this process, couldn't you first send bitcoin to blockchain or coinbase first so your bitcoins are safe?  For example you have 10 bitcoin.  You send 10 bitcoin to blockchain or coinbase and keep it there during this process.  Then you do this process so you could get your 10 bitcoin cash?  Or it doesnt matter since you have to enter that seed on the new wallet?  So when you receive the bitcoin back from blockchain/coinbase to your electrum, then your bitcoin is still at risk because of the seed?


6.  How long do we have until we can claim the bitcoincash?  So basically if you have 10 bitcoin in your electrum when the fork happened, then you will have 10 bitcoin cash anytime right?  Doesn't matter how long you do this to get your bitcoin cash later on?  But people want to do it earlier because they want fast access to it since they want to sell it immediately?


7.  So other sites like bittrex and exchanges basically just give you the bitcoin cash where you dont have to do anything?  Why is the process so complicated on electrum and other programs?

[Dowel]

1. Exactly as you've said.
2. https://bitcointalk.org/index.php?topic=2054046
You can't control how much you can send to electron cash because you're going to import your electrum private keys on it. So what you have on them (private keys) that's what you get into your electron cash wallet.
3. Yes it's neccesary for your safety. You can create another electrum wallet on your same laptop but to create electron cash wallet you must do it in another pc, try to create a virtual machine or buy some VPS.
4. Read number 2.
5. Yes, you must send all of your btc (which you have in your main wallet) to some different wallet, you choose what you want (desktop or web wallets). Read the thread I just gave you before.
6. Yes it doesn't matter when you reclaim it.
7. They give you the bitcoin cash if you had bitcoin before the fork and it's very unsafe to save bitcoin there. Use it only when you have to exchange not to store.

[faitaccompli]

Yeah there's no "deadline" on when you have to claim the bitcoin cash. It's always going to be there on the blockchain and as long as you control the private keys, you can claim it whenever you want. It's just a matter of finding a reliable wallet that supports the bitcoin cash (and of course for the BCC to still hold value at the time you are claiming it!).

Thus far, I don't see any good options for claiming my BCC so I'm just going to wait but I believe people have had success using a wallet like BitcoinABC or BitcoinUnlimited. Just make sure you move all your coins to a new electrum wallet before you import your private keys from the old electrum wallet

[BeggarInCryptos]

1. Exactly as you've said.
2. https://bitcointalk.org/index.php?topic=2054046
You can't control how much you can send to electron cash because you're going to import your electrum private keys on it. So what you have on them (private keys) that's what you get into your electron cash wallet.
3. Yes it's neccesary for your safety. You can create another electrum wallet on your same laptop but to create electron cash wallet you must do it in another pc, try to create a virtual machine or buy some VPS.
4. Read number 2.
5. Yes, you must need to send all of your btc (which you have in your main wallet) to some different wallet, you choose what you want (desktop or web wallets). Read the thread I just gave you before.
6. Yes it doesn't matter when you reclaim it.
7. They give you the bitcoin cash if you had bitcoin before the fork and it's very unsafe to save bitcoin there. Use it only when you have to exchange not to store.

So there is no problem in creating another electrum wallet in your same PC where you would send your coins by switching wallets? But I guess the the first wallet should be abandoned after that you use its seed to get BCC, am I right?

[Dowel]

1. Exactly as you've said.
2. https://bitcointalk.org/index.php?topic=2054046
You can't control how much you can send to electron cash because you're going to import your electrum private keys on it. So what you have on them (private keys) that's what you get into your electron cash wallet.
3. Yes it's neccesary for your safety. You can create another electrum wallet on your same laptop but to create electron cash wallet you must do it in another pc, try to create a virtual machine or buy some VPS.
4. Read number 2.
5. Yes, you must need to send all of your btc (which you have in your main wallet) to some different wallet, you choose what you want (desktop or web wallets). Read the thread I just gave you before.
6. Yes it doesn't matter when you reclaim it.
7. They give you the bitcoin cash if you had bitcoin before the fork and it's very unsafe to save bitcoin there. Use it only when you have to exchange not to store.

So there is no problem in creating another electrum wallet in your same PC where you would send your coins by switching wallets? But I guess the the first wallet should be abandoned after that you use its seed to get BCC, am I right?

Yes there isn't any problem and of course after you send your money to another wallet, forget the old.

[viking02]

Okay so based on your responses, im guessing a huge portion of electrum users will just wait then right?  Thus since you will have the bitcoin cash once you do this no matter what.


Another thing i want to ask is this.  Why are you so many people trying to get their bitcoin cash quickly?  Its because they want to sell it right and get the cash immediately?


And that means for those people who are waiting... thus whether you have 0.5 bitcoin or 1 bitcoin or x amount of bitcoin... you obviously want the bitcoin cash price to go as high as possible since you own the amount of bitcoin cash right?  The other thing that confuses me is shouldn't bitcoin price drop a lot more because of this fork?  My thoughts were hey if bitcoin cash is say 300 dollars... wouldn't that automatically make bitcoin go down 300 dollars?  It did go down but like 100-200 only.

[viking02]

Hey guys i read the electrum instructions on claiming the bitcoin cash and have few questions.


It mentions that you need to do this on another machine.  When they say this, they mean another computer right?  Thus if u dont have a second computer, u cannot do this?  Could you do this with a mobile device or not?



It mentions


Move all your Electrum funds to a new Electrum wallet. This will
 move only your BTC, and not your BCC, because the BCC blockchain has
 replay protection. Wait until the transaction is confirmed.



Can someone explain what exactly is meant by this?  So with the electrum wallet on the current computer, you would need to download another electrum on the same computer?  Im confused what is meant by this.  Im using electrum 2.9 on my computer.   If you install and download electrum again on the same computer, wouldn't it be the same thing since the computer will notice its the same program?  So you are suppose to see there are 2 electrum wallets on your desktop or something?


And the other thing that confuses me is this.  So after you do this, you claim the bitcoin cash on your 2nd computer.  So any bitcoincash you have, only do transactions on that 2nd computer?  Then what happens to your old seed and electrum on the current computer?  Because from what i read, it seems in the end, your bitcoins will be on the new electrum wallet on your same computer which will have a different seed.  So when in this process is the old electrum with the old seed deleted?  This is very confusing here.