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Author Topic: Does Armory Support Bitcoin Cash?  (Read 285 times)
matrix01
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November 13, 2017, 05:15:09 PM
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Fellow Forum Members,
I have not gotten around to updating my Armory to the latest version. I plan to do this soon.

For now I'm in the dark regarding if Armory software support Bitcoin Cash and Bitcoin all in the same Armory software environment?

More importantly, if five years from now it turns out Bitcoin Cash soars to $50,000 and the original Bitcoin is dying a slow death and the price is $1,000 five years from now will a single original Bitcoin still be worth $50,000 as long as I convert it to Bitcoin Cash?  I hope this matter can be clarified, because I would like to know if the Bitcoin Cash vs. Bitcoin price battle is something I need to worry about.  Mainly, do I need to go through trouble of selling my Bitcoin today and buy Bitcoin Cash with it?  Or will my Bitcoin trade 1 for 1 with Bitcoin Cash at $50,000 five years from now? I hope it's the later because that will be a lot less to worry about.  Any comments will be greatly appreciated.  Thanks in advance.
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November 13, 2017, 05:36:57 PM
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For now I'm in the dark regarding if Armory software support Bitcoin Cash and Bitcoin all in the same Armory software environment?
You cannot use Bitcoin Cash and Bitcoin in the same instance of Armory. You will need to have both the Bitcoin and Bitcoin cash blockchains, separate instances of node software, and separate instances of Armory.

More importantly, if five years from now it turns out Bitcoin Cash soars to $50,000 and the original Bitcoin is dying a slow death and the price is $1,000 five years from now will a single original Bitcoin still be worth $50,000 as long as I convert it to Bitcoin Cash?  I hope this matter can be clarified, because I would like to know if the Bitcoin Cash vs. Bitcoin price battle is something I need to worry about.  Mainly, do I need to go through trouble of selling my Bitcoin today and buy Bitcoin Cash with it?  Or will my Bitcoin trade 1 for 1 with Bitcoin Cash at $50,000 five years from now? I hope it's the later because that will be a lot less to worry about.  Any comments will be greatly appreciated.  Thanks in advance.
Your question about price is completely unrelated to Armory and is off topic.

gangtraet
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November 13, 2017, 08:03:58 PM
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Fellow Forum Members,
I have not gotten around to updating my Armory to the latest version. I plan to do this soon.

For now I'm in the dark regarding if Armory software support Bitcoin Cash and Bitcoin all in the same Armory software environment?
Armory only supports Bitcoin Cash as a kind of hack to enable us to get access to the coins.  Understandably, goatpig does not want to support coins that split off from Bitcoin, as that may be a trend (first Bitcoin Cash, then perhaps Bitcoin Gold, then ...).

However, the "hack" that he made for Bitcoin Cash works quite well.  You can use Armory *either* with BTC or with BCH depending on which client you run below it (Bitcoin Core or one of the BCH versions), as long as you are in Expert mode and select the BCH signer for the BCH transactions.

It is even possible to run both simultaneously, but I honestly cannot recommend it.  I made shortcuts that started either Bitcoin Core or Bitcoin Unlimited, and other shortcuts that started Armory with command line arguments directing it to the two possible blockchains.  It worked, but was clunky, and I am sure it is too easy to shoot yourself in the foot, so in the end I moved my BCH to a ledger and kept the BTC on Armory.

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More importantly, if five years from now it turns out Bitcoin Cash soars to $50,000 and the original Bitcoin is dying a slow death and the price is $1,000 five years from now will a single original Bitcoin still be worth $50,000 as long as I convert it to Bitcoin Cash?  I hope this matter can be clarified, because I would like to know if the Bitcoin Cash vs. Bitcoin price battle is something I need to worry about.  Mainly, do I need to go through trouble of selling my Bitcoin today and buy Bitcoin Cash with it?  Or will my Bitcoin trade 1 for 1 with Bitcoin Cash at $50,000 five years from now? I hope it's the later because that will be a lot less to worry about.  Any comments will be greatly appreciated.  Thanks in advance.

If you had bitcoins in Armory the day the chain split, then you already have both BCH and BTC, they just reside on the same private keys.  You do not have to "claim your BCH", or any such nonsense.  If, in a far future, both coins have value then you will have both coins and in the worst case can access them using the private keys.  If one chain is dead by then, you still have the other chain.  So you do not need to do anything now if you plan on holding both coins.  Of course, if you truly believe that BTC will be almost worthless and BCH will be the future, then you can split your coins now and buy 3-5 BTC for every BTC you have.  Just be aware that it is a gamble, it could go the other way.  Do not uncritically believe the BCH priesthood on /r/btc, nor the BTC fundamentalists in /r/bitcoin  Smiley  [Apologies to both groups, but honestly the debate seems more religious than technical these days].


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