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Author Topic: Hardfork to SegWit2x (Will some people lose all there money?)  (Read 283 times)
Mbidox
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November 07, 2017, 07:57:35 AM
 #1

Hello,

If I have understood correctly, there will be a further hardfork from SegWit to SegWit2x in November.


At the moment a Bitcoin can have three types of addresses:

1. already in power: Bitcoin Addresses like:  1BvayiASVCmGmg4WUJmyRHoNevWWo5snqC (without SegWit)

2. P2SH: Bitcoin Addresses like:   3P14159f73E4gFr7JterCCQh9QjiTjiZrG (SegWit)

3. bech32: Bitcoin Addresses like: bc1q76awjp3nmklgnf0yyu0qncsekktf4e3qj248t4 (Electrum only) (SegWit)


I know: Through a hardfork every person who had Bitcoins before the hardfork will get the "new" Bitcoin with the same public key and the same private key.

Since the hardfork from Bitcoin to Bitcoin Cash I have never transferred my Bitcoins to a P2SH or bech32 address. So my Bitcoins still lie on an old address like (1), see above.

Question:
When my Bitcoins lie on an Address like (1), do I then get the new Segwit2x-Bitcoin? Or must I transfer my Bitcoins from an address like (1) to an Address like (2) or (3) before the hardfork starts?

This is a very essential question. Maybe when I do not transfer my Bitcoins to a P2SH or bech32 address before the hardfork, maybe then I do not get the new bitcoin and the old bitcoin loses the whole value. So I now have lost all my money.

Would be very interested. Thank you.

Mbidox


PS:
Question 2:
Are the legend Bitcoin Addresses and the P2SH Bitcoin Adresses and the bech32 Bitcoin Adresses all on the same Blockchain?
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November 07, 2017, 08:42:06 AM
 #2

2. P2SH: Bitcoin Addresses like:   3P14159f73E4gFr7JterCCQh9QjiTjiZrG (SegWit)
A P2SH address does not have to be a SegWit address.

When my Bitcoins lie on an Address like (1), do I then get the new Segwit2x-Bitcoin? Or must I transfer my Bitcoins from an address like (1) to an Address like (2) or (3) before the hardfork starts?
It is fine if it remains on a standard P2PKH address (1). You do not have to move them.

Maybe when I do not transfer my Bitcoins to a P2SH or bech32 address before the hardfork, maybe then I do not get the new bitcoin and the old bitcoin loses the whole value. So I now have lost all my money.
This statement is absurdly stupid to the extent that it infuriates the reader. There is no such thing as a new Bitcoin. Bitcoin, in its current stated, with Bitcoin Core being the reference implementation is the only Bitcoin. Bitcoin Cash != Bitcoin. Bitcoin Gold != Bitcoin. Segwit2x != Bitcoin. The latter is actually a corporate-sponsored attack on Bitcoin.

Are the legend Bitcoin Addresses and the P2SH Bitcoin Adresses and the bech32 Bitcoin Adresses all on the same Blockchain?
All three types of addresses mentioned are Bitcoin addresses.


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Mbidox
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November 07, 2017, 04:01:42 PM
 #3

Thank you for this helpful answer.  Smiley
neurotypical
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November 07, 2017, 07:16:41 PM
 #4

Note: If a hardfork that doesn't support segwit happens, you would not receive your coins that are sitting on segwit addresses.

For example, let's say someone that doesn't like segwit creates a new fork (such as BCash) after segwit activated, you wouldn't receive the coins sitting on segwit addresses since the resulting fork does not support segwit.

Im not sure if you could fork the current legacy chain without segwit tho, but technically you wouldn't receive the coins if possible.



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Spendulus
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November 09, 2017, 12:44:27 PM
 #5

Hello,

If I have understood correctly, there will be a further hardfork from SegWit to SegWit2x in November.


At the moment a Bitcoin can have three types of addresses:

1. already in power: Bitcoin Addresses like:  1BvayiASVCmGmg4WUJmyRHoNevWWo5snqC (without SegWit)

2. P2SH: Bitcoin Addresses like:   3P14159f73E4gFr7JterCCQh9QjiTjiZrG (SegWit)

3. bech32: Bitcoin Addresses like: bc1q76awjp3nmklgnf0yyu0qncsekktf4e3qj248t4 (Electrum only) (SegWit)
....

This explains the bitcoin addresses.

"1 or 3" is public address, note.

bech32 is a representation of address without upper and lower case, not a differing address.

https://en.bitcoin.it/wiki/List_of_address_prefixes
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