Topic: Coming SegWit2X Fork - What should I know about my BTC stash in Armory? (Read 655 times)

That ought to be news from today cause that's not what i heard yesterday.

I spoke too soon. Looks like Segwit2x is NO MORE! VICTORY (for now).

This is really scary. How would I transfer my B2X without affecting my BTC? Apparently it's not enough to just fire up the B2X full node instead of Bitcoin Core - the BTC will still be affected.

This cannot end well. Lot of people are going to be losing some money big time... :S

What the hell Garzik...

There is no signer support to add.

I hope you'll be able to write this guide and add B2X signer support to Armory soon enough. This way us Armory HODLers can be ahead of most to dump the B2X like we did BCH at higher prices than most.

Amen.

(And I apologize for politicizing here).

While I understand your frustration, this is no place for politics, and I don't dab in those on this page either. As far as predictions go, they are basically an exercise in futility.

The nature of the fork is irrelevant. People who feel they need to dissociate should do so. Delaying the issue only builds up venom within the community. Bitcoin and cryptocurrencies by nature implement and purport the right to dissociate. It is expected such foundational precept will be used.

ETC set the precedent that a minority fork can survive. BCH demonstrated that a haphazard and poorly executed fork can also survive, despite how little regard the BCH devs have for the disruption their faulty design choices still inflicts upon users of both chains.

Naturally with B2X, we are set to further explore that rabbit hole that is the derelict of duty the forking party is guilty of by deliberately choosing the more harmful forking parameters. If B2X fails to fork, or does no wreck the havok it is set to, the one after that will.

This is the kind of situation that will get worse before it gets better. At the same time, the magnitude of the disturbance is irrelevant. Bitcoin is built to survive. If it fails, we will have to learn from the attack and improve upon it.


The only way they can guarantee this is by using post fork coinbase rewards. It could be a week before they have such an output for use. I wouldn't trust that claim.

The btc.com online wallet claims that they will support coin splitting.  Since they are also a mining pool, it seems likely.  I have placed a very small amount (it is an online wallet, after all) with them, that I expect to use to taint and split coins, if we get two viable chains.

But I think it is far from sure there will be a true fork.  The plan of the 2x guys is a crushing victory.  They expect (or hope for) getting the vast majority of the hashing power, in which case at least some exchanges may declare the 2x fork for the real bitcoin.  In that scenario, I expect the community to move to the 2x chain, some will think bitcoin has been upgraded, other that it was downgraded.  Then chain split is likely, as it seems that the strongest 2x opponents will continue with the old chain.

Anything else than this will be a failure for the 2x guys.  That can happen in many way.

1. It is all a bluff, the split never happens (extremely unlikely, imo).

2. The 2x chain splits off, but with a minority hash rate.  In that case 2x coins will be a low-value altcoin, and the lack of replay protection which is intended to kill the minority chain will backfire badly, and make it very unattractive to work with.  In any case, I do not think the NYA miners are interested in mining a minority alt-coin, so I am not sure anyone will have the time to move and sell their 2x coins before it dies. The hard-core large-blockers will probably find it more attractive to move over to BCH, some of them are religiously against segwit anyway.

3.  The 2x chain gets a majority, but not a crushing one.  In that case I doubt any exchange will risk calling it the true bitcoin, and I suspect it will have much lower value than the original chain.  Again I think miners will abandon it. 

So only in case of a crushing victory to the 2x side is a true chainsplit likely in my opinion.  But in reality I have no clue what will happen.  It is impossible to judge what people think or discuss it properly.  /r/bitcoin censors any post that is attempting to discuss a block size increase or is not clearly against 2x.  /r/btc is patrolled by trolls that downvote any post that does not seem to imply that the core developers are evil people controlled by the Bilderberg group and/or space lizards. No sane discussion is possible. 

Any coins you have in an Armory wallet pre fork will be available on both sides of the split post fork. You can spend as usual, knowing that any transaction you perform on one chain will be mirrored on the other chain. As an example, this means that post fork if you move 1 BTC to 3addressblahblah, 1 B2X will be moved to 3addressblahblah on the 2X chain as well.

This is because 2X has no replay protection. There's no sane explanation as to why this is the case, but that's besides the point. If you want to send your coins on one side of the split independently of the other, you will need to taint your coins first. This means you will have to move your coins to an output that only exists on one chain (remember, all your pre fork outputs are valid on both chains).

Tainting requires a set of operations that are time consuming but low risk. I'll have to write a guide about this at some point.

Hello guys,

I have most of my BTC stash in Armory Offline Wallet.
Now with coming SegWit2X-Fork I had coming some questions in my mind.

What happens with my BTC stash in my Armory Wallet? Will I be able to spend on both chains with it? How do I do this? Do I have to transfer the money to SegWit-addresses before fork or smth?