Watch Out - Electron Moves Electrum Files! (The BCC Wallet for Easy Redeem of Coins)
To get tommorow BCC/BCH/Bcash whatever its called, you will need a wallet to import keys.
You can run full node (which will takes alods of time and space) or run lightweight wallet - Electron which is a copy of Electrum.
Problem is it was found out that after installing Electron (http://www.electroncash.org/) it will scan your current Electrum installations and move all files to its folder.
This can be seen as "ease of use" but only makes it scary and not cool in most eyes.
Current suggested by Electrum itself idea for acquiring BCC is:
BCC wallets will require you to import your seed or your private keys,
which can be exported from Electrum. Doing so will expose all your
Bitcoin funds associated with that seed to the BCC wallet you decide
to use.
Therefore, after the BCC fork, but before you enter a seed or
private key in a BCC wallet, you should move all your funds to a new
Electrum wallet, with a new seed. You will still be able to use the
old seed or private key with BCC, because BCC has replay
protection. Wait until your funds are confirmed in your new Bitcoin
wallet, before you enter the old private key in a BCC wallet. This
will protect your BTC funds from rogue/untrusted software.
Current BCH Trading
HitBTC said they will list right after launch.
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The safe path here is to install another instance of Electrum to a virtual machine or another computer, create a new wallet and transfer all the funds before installing Electron Cash.
Or just use another wallet, there are plenty of them: https://steemit.com/bitcoin/@bcn/preparing-for-august-1-hard-fork-how-to-claim-your-free-bitcoin-cash
Right. People: YOU NEED TO MOVE YOUR BTC TO A NEW WALLET BEFORE YOU CLAIM YOUR BCC. Once the BTC has been transferred to a new wallet, not simply a new address, it's completely safe.
If I did not move my BTC to a new wallet, did I basically lose my BCC by creating a BCC wallet whilst having a BTC wallet?
Sigh... As broke as I am I did not need this :/
No, that wouldn't be a problem. If you had a BTC wallet at the time of the fork, you definitely have BCC. You just want to be sure to move your BTC first, before you try to access your BCC; otherwise there's a risk that you could lose your BTC.
Nothing that happens on the BTC chain can affect what happens on the BCC chain.
BCC is down almost 10%. A lot of people are freaking out over this, do you still keep your bitcoin when they split? I heard it is 1:1 is that accurate?
Yes it will be 1:1, except on Bitfinex (they'll give a bit more from orders). Those down prices on viabtc are futures, when it will be listed (in the next hours) on the exchanges, the price will drop much more as it will be dumped by many. However, after weeks and months it COULD rise, but nobody knows for sure.
Thanks for a prompt reply!
yes true
Good info as always @kingcrown. Thanks for keeping us up to date on the situation.
bcash all he way
thanks for sharing
nice
Thanks for the warning
This is the wallet I use, although I didn't have a chance to send BTC from Bittrex.. At least they will credit me BCH.
Thanks for the post!
_Rob
Thx for sharing
Is true that bittrex will support bcc, and send equivalent amount of bcc if you have bitcoin?
Yes
Hi @kingscrown I've written an article about you, check it out, if you can? thanks.
30 Best Steemians Of The Day To Follow 1st August 2017
https://steemit.com/steemit/@jzeek/30-best-steemians-of-the-day-to-follow-1st-august-2017
Well, that's what they say. As far as valuation, we don't have a clue only speculation.
Friend of steemit, I follow and support you. I gave you a vote.
Another interesting thing to consider taken directly from https://electrum.org/bcc.txt:
"About Electrum Cash
The name "Electrum" has been visible on bitcoincash.org and
electrumcash.org, with a modified version of our logo. The use of our
name and logo constitutes a trademark infringement.
We have never enforced our trademark against altcoin versions of
Electrum (such as Litecoin, etc), because we consider that users of
these altcoins are well aware of the distinction between Bitcoin and
their coin, and that they cannot be harmed by that confusion. However,
we do not agree with the use of the Electrum name in the context of a
Bitcoin fork, because it suggests that we endorse that fork, and that
we also endorse that wallet.
We reserve ourselves the right to use the name Electrum for a Bitcoin
Cash wallet, should we decide to publish one in the future."
Rebranding takes lots of effort, but it seems to be work-in-progress - admittedly it's bad now as one can easily start up electron-cash, forget about it, and later believe it's actually electrum running - or vice-versa - but anyway, I would give the electron-cash dudes some slack here. The improper rebranding is obviously not due to bad faith. As for me, electron-cash seems to be the easiest way for me to move my bitcoin cash to the exchanges post-fork.
That's why they renamed it to Electron.
thats pretty much worse then just plain copying the name. as if this doesnt confuse people.
I don't hold any bitcoin so I'll just be watching the event as it happens. Wonder how will things turn out for bitcoin cash.
me too
Friend of steemit, I follow and support you.
I hold a little of it just to see what will happen then...followed you @trendo.