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Author Topic: Trezor and SegWit  (Read 643 times)
bitart
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August 28, 2017, 09:43:20 PM
 #1

I've just read at trezor's site, that Trezor will support (or it's support already) SegWit addresses and transactions.
https://blog.trezor.io/prepare-get-ready-segwit-segregated-witness-activation-bitcoin-wallet-950bb2196de9
It says that I only need to transfer my funds from the 'old' Trezor wallet address to the new Trezor SW wallet address (SW wallet address starts with 3).
If I do this, I have to pay the proper fee (nowdays higher), and wait for the transaction to be confirmed, and that's all?
So if I understand well, I need to pay the high fee at least now, if I want to pay lower fees in the future.
Or does it makes sense to wait a bit more and when everyone will use SW, and the fees will be lower, I can transfer the funds to the new SW wallet for a lower fee?

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August 29, 2017, 12:10:50 PM
 #2

I think you should wait till November since it's not necessary to use it right now.
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August 29, 2017, 07:03:26 PM
Last edit: August 30, 2017, 02:17:17 PM by TryNinja
 #3

Can't you just send your coins to a new SW address with a super low fee? It may take some time but the address is yours anyway.

I don't see how doing one transaction may lead you to bankruptcy. It's not like you won't ever spend your Bitcoins, right?

Edit: Transactions of 20 sat/byte getting confimed right now.

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August 30, 2017, 12:50:22 AM
 #4

While it may be best to wait, I dont think trezor enabled it on the web clients yet. Could be wrong but I havent seen any changes on both the stable and beta ones when creating a new account. You might have to use a third party wallet that supports segwit to use such an address. If you do plan on sending funds to a new address, I do not believe it will make you go bankrupt (like TryNinja stated). However, if you dont have a lot or a few dollars in btc, you might want to hold off a little
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August 30, 2017, 07:41:12 PM
 #5

I made the decision to hold off for now as well.  I can afford a slightly higher fee while I wait and watch for how this all goes.  I may feel differently if I was doing a bunch of smaller transactions where the fee is a larger part of the "scheme".

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August 30, 2017, 08:04:56 PM
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I would advise you not to do anything yet, wait until the Segwit is accepted by all users
bitart
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August 30, 2017, 09:25:51 PM
 #7

As today the average fee has became cheaper then usual (compared to the last few months), I was thinking about transferring the funds from the old wallet to SW wallet, but many of you has mentioned to think about waiting for November. I think that the highest possibility is that SW will start in november, but who knows what happens till then, so I'm not going to move anything to SW address until I can see that everything is working fine then. But, if anybody has any similar experience, I'm all ears

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August 31, 2017, 04:28:10 PM
 #8

If I do this, I have to pay the proper fee (nowdays higher), and wait for the transaction to be confirmed, and that's all?
Yes. You will need to make a Bitcoin transaction in order to begin using segwit addresses for all of your current coins.

I think you should wait till November since it's not necessary to use it right now.
What makes you think that segwit will be necessary in November?

I would advise you not to do anything yet, wait until the Segwit is accepted by all users
That's just false and a bunch of FUD. Users can't say "I don't accept segwit coins". That isn't how it works. Since segwit is already activated, it can't be deactivated without all users agreeing to deactivate it (i.e. it requires a hard fork).

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