Electrum segwit format

[cellard]

Will the Electrum segwit format address always be incompatible with Bitcoin Core?

I have some coins in an Electrum wallet which I don't use after 0.16 was released (used it temporarily during that time period in which Electrum was the only bech32 wallet) so I got some coins in there which is pretty annoying because I want it all on the same place.

Should I assume that these private keys will never be able to be imported into the Bitcoin Core wallet so I need to send them into my Core wallet or can I hope that eventually the format will be compatible so I can import them? I would like to avoid making unnecessary transactions even if it's really cheap now, it's just easier to keep track of things.

[rifiuti]

I think you're having problem importing your Electrum wallet to Bitcoin Core since both software have different wallet format. But if you experience the problem when you export the private key from Bech32 address in Electrum to Bitcoin Core, you should check these guide https://github.com/spesmilo/electrum/issues/3620

The problem in here is Electrum and Bitcoin Core use different Wallet Import Format, that's all.

Does any of you know how can I get segwit address and use Segwit in Electrum? Because, it seems like I still have a non-segwit address.

[ranochigo]

Does any of you know how can I get segwit address and use Segwit in Electrum? Because, it seems like I still have a non-segwit address.

Electrum does not convert your current wallet into addresses with bech32. Install the latest version of Electrum, go to File>New>Standard Wallet>Create a new seed> Segwit.

Take note that you have to backup both of the seeds since they are not the same at all.

[wilwxk]

This is not a "problem", the core has enabled the segwit address by default, so you will need to use the command line if you want to import some legacy address (they did it proposital to make harder to use non segwit address) while the elctrum didnt enable the P2SH segwit address(the addresses starting with 3, used by Core) by default, to import a private key from core you need to add the prefix p2wpkh-p2sh:[yourprivatekey] or if you want to generate a wallet with P2SH addresses you can see this link bitcoinelectrum.com/creating-a-p2sh-segiwt-wallet-with-electrum. And now all of the private keys presented at the electrum will be compatible with the Core.

[cellard]

I know the problem is the wallet format incompatibility... anyway I just read this:

Are you wanting to move your coins and are basically stuck without a working Armory setup currently?

No, Armory works fine.  I actually believe it is the best available wallet at the moment.

I want to do this for 2 main reasons:
1- To be sure to be able to successfully export my keys/addresses and access coins in case I run into an issue with Armory in the future.  That is, to not be 100% dependent (or "stuck") on a single system, or a single point of failure.
2- To be able to export specific keys/addresses into other bitcoin forks' clients (after having emptied those keys, obviously).

Good to hear!

Sound reasoning, most come in here after a problem has reared its head rather than before.
For Core, honestly 0.16 should resolve the issue.
But for now you might be able to try Electrum. I know by default it opts for bech32 addresses and native (rather than nested) segwit, but I swear I read that it can use/import P2SH-P2WPKH with a bit of poking.


Word of warning on your second point, if an adversary gets ahold of one of your private keys AND has your root public key they can generate backwards and forward on the chain to get the other private keys within that wallet too. Make sure your empty that wallet, not just the keys.
Relevant posts from goatpig here and here.

I will just send the coins to myself to a brand new bech32 in Core and i'll be done with it. I wanted to avoid this to make it easier to report taxes if 10 years from now I want to buy a house with some of the bitcoin gains or something. The more complex your transaction history the worse, but I will just keep the Electrum empty private keys after I send the coins to myself. Electrum is a joke security wise anyway, never liked the seed stuff. I'll not be holding coins in there.

[rifiuti]

Does any of you know how can I get segwit address and use Segwit in Electrum? Because, it seems like I still have a non-segwit address.

Electrum does not convert your current wallet into addresses with bech32. Install the latest version of Electrum, go to File>New>Standard Wallet>Create a new seed> Segwit.

Take note that you have to backup both of the seeds since they are not the same at all.

Awesome, thanks.

[HCP]

Electrum is a joke security wise anyway, never liked the seed stuff. I'll not be holding coins in there.

Can you elaborate on how you think "the seed stuff" is a joke security wise?

I assume you mean the seed mnemonic (aka 12 words) and not the actual binary seed... As Bitcoin Core actually utilises a "seed" as well (as do all HD wallets).

Do you have concerns that the seed mnemonic could be "guessed" or something?

[btcdevil]

Electrum is a joke security wise anyway, never liked the seed stuff. I'll not be holding coins in there.

Can you elaborate on how you think "the seed stuff" is a joke security wise?

I assume you mean the seed mnemonic (aka 12 words) and not the actual binary seed... As Bitcoin Core actually utilises a "seed" as well (as do all HD wallets).

Do you have concerns that the seed mnemonic could be "guessed" or something?

I agree with you that Seed key is a best way of security if you properly use the seed key then it is the best way of securing your wallet. I am using electrum for more then 2 yrs and my computer  got 2 times hacked but they were not able to hack my electrum wallet.

[bob123]

I agree with you that Seed key is a best way of security if you properly use the seed key then it is the best way of securing your wallet.

The mnemonic seed [1] is not a key. Its purpose is NOT to secure your wallet.
This (random) seed is used to derive all of your private keys.

I am using electrum for more then 2 yrs and my computer  got 2 times hacked but they were not able to hack my electrum wallet.

You are definetely doing something wrong.
I assume your pc didn't get 'hacked' but you have downloaded malware.

You should consider using a safer option to store your coins if your pc already has been infected.
The reason the attacker hasn't already stolen your coins probably is that he was kind of incompetent.

Nevertheless, this is in NO WAY related to the mnemonic seed.


[1] https://en.bitcoin.it/wiki/Mnemonic_phrase

[Ayanamirs]

Electrum is a joke security wise anyway, never liked the seed stuff. I'll not be holding coins in there.

Can you elaborate on how you think "the seed stuff" is a joke security wise?

I assume you mean the seed mnemonic (aka 12 words) and not the actual binary seed... As Bitcoin Core actually utilises a "seed" as well (as do all HD wallets).

Do you have concerns that the seed mnemonic could be "guessed" or something?

I agree with you that Seed key is a best way of security if you properly use the seed key then it is the best way of securing your wallet. I am using electrum for more then 2 yrs and my computer  got 2 times hacked but they were not able to hack my electrum wallet.

I would recommend Linux for store bitcoins.

[btcdevil]

I agree with you that Seed key is a best way of security if you properly use the seed key then it is the best way of securing your wallet.

The mnemonic seed [1] is not a key. Its purpose is NOT to secure your wallet.
This (random) seed is used to derive all of your private keys.

I am using electrum for more then 2 yrs and my computer  got 2 times hacked but they were not able to hack my electrum wallet.

You are definetely doing something wrong.
I assume your pc didn't get 'hacked' but you have downloaded malware.

You should consider using a safer option to store your coins if your pc already has been infected.
The reason the attacker hasn't already stolen your coins probably is that he was kind of incompetent.

Nevertheless, this is in NO WAY related to the mnemonic seed.


[1] https://en.bitcoin.it/wiki/Mnemonic_phrase

I have formated my system as soon i came to know that it got affected. and for more precaution i once in 30 days format my system so that even if their is malware it gets cleared, even i clear the partition and create new one so it is deep cleaned.

[pooya87]

~
I have formated my system as soon i came to know that it got affected. and for more precaution i once in 30 days format my system so that even if their is malware it gets cleared, even i clear the partition and create new one so it is deep cleaned.

that's an overkill! you really don't need to format your computer every month. not to mention that full format of a hard drive is an intense operation which may even lower the lifespan of your hardware!
just learn more about security measures and you will be safe for a very long time on your hot computer and move all your bitcoins to a cold storage and never worry about getting infected and needing to format anything.