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Author Topic: upcoming segwit2x procedure?  (Read 426 times)
natibo
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November 02, 2017, 11:32:27 AM
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When the BCH fork came out, before it happened, IIRC there was a lot of chatter here about what to do in advance.

The procedure ended up being pretty simple. There was a fork of the electrum wallet called electron-cash. Instructions were to Install electron-cash on another machine, then...
Can't remember exactly. I think what I did was like this:
  • After the fork, create a new bitcoin wallet on electrum.
  • Then send the coins from the original bitcoin wallet to the new bitcoin wallet just created.
  • Then go to the other machine where I installed electron cash.
  • Sweep the keys from the old bitcoin wallet that was just emptied to a new bitcoin cash wallet on electron-cash.

I think that is how the procedure went. In any case, it worked, and because of the fork I had 2 assets - the original bitcoin and the BCH.

What I am wondering is, has anyone thought of the procedure that will be necessary after the segwit2x fork happens? It seems it is coming soon, but there is not much to do to prepare except to sit tight.

I noticed that if you have coins on coinbase or gdax, they will automatically give you an equal amount of coins in the new fork. So after the fork, you will have 2 assets.

Will this happen also somehow in electrum? I haven't been able to find anything about that.
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brobbel
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November 02, 2017, 11:36:19 AM
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When the BCH fork came out, before it happened, IIRC there was a lot of chatter here about what to do in advance.

The procedure ended up being pretty simple. There was a fork of the electrum wallet called electron-cash. Instructions were to Install electron-cash on another machine, then...
Can't remember exactly. I think what I did was like this:
  • After the fork, create a new bitcoin wallet on electrum.
  • Then send the coins from the original bitcoin wallet to the new bitcoin wallet just created.
  • Then go to the other machine where I installed electron cash.
  • Sweep the keys from the old bitcoin wallet that was just emptied to a new bitcoin cash wallet on electron-cash.

I think that is how the procedure went. In any case, it worked, and because of the fork I had 2 assets - the original bitcoin and the BCH.

What I am wondering is, has anyone thought of the procedure that will be necessary after the segwit2x fork happens? It seems it is coming soon, but there is not much to do to prepare except to sit tight.

I noticed that if you have coins on coinbase or gdax, they will automatically give you an equal amount of coins in the new fork. So after the fork, you will have 2 assets.

Will this happen also somehow in electrum? I haven't been able to find anything about that.

This will happen in every situation in which you have the private key. You only have to wait until there is a wallet (probably Electrum will create this also) which is specific for the B2X coins.
Further: wait some time after the fork, because there will be no replay-protection - so if you send BTC to another wallet, you will probably unwillingly sending the same amount B2X to another wallet; so you should wait until all is clear.
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November 02, 2017, 12:06:25 PM
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Will this happen also somehow in electrum? I haven't been able to find anything about that.
No. AFAIK Electrum will not support the B2X chain (only the Legacy one). Because of that, you will need to download a B2X compatible wallet - which I'm sure we will have one soon -, and import your address in there to spend your B2X coins. The method of spliting your BTC and BCH by sending your BTC to a new wallet it's not mandatory, but it's something recommended to do to avoid any issues when spending your coins. You could do the same thing for the B2X fork.

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