Electrum and 1st of August. - page 4.

SVK

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Quote from: BTCLovingDude on July 09, 2017, 06:20:45 AM

Quote from: SVK on July 09, 2017, 06:11:11 AM

Electrum wallet - I just have icon on my desktop.
I have copied electrum.dat to USB but I'm not sure if that is what you mean.?

Offline ?

I don't want to be pain but sadly I'm a bit clueless Sad

offline aka cold storage: http://docs.electrum.org/en/latest/coldstorage.html

two things you need to back uo
1. seed: http://docs.electrum.org/en/latest/faq.html#what-is-the-seed
2. wallet file: http://docs.electrum.org/en/latest/faq.html#where-is-my-wallet-file-located

you can and should write down the seed on piece of paper.

Quote from: SVK on July 09, 2017, 06:15:30 AM

I'm still on Electrum 1.6.1 should I update it to newer version or old one is good enough ?

Thank you very much for your help

wow, that is OLD Cheesy

be careful when upgrading. make sure to back up your wallet file and seed first and also read this link: http://docs.electrum.org/en/latest/faq.html#how-to-upgrade-electrum
then upgrade. the wallet has changed since version 1.x and you may encounter some troubles. so it is best to have these 2 backups just in case.

I bought BTC in 2013 and guy said to me to use Electrum to store them.
So I downloaded Electrum and didn't fidle with it since.

I'm mining ALT coins and all that stuff but I have stopped doing anything BTC related since Habannero boards stopped being profitable.

I have seed (random words) stored on USB drive.
I have Electrum.dat on the same USB drive.
Is this good enough backup before updating ?

What issues can I encounter ?

I'm going to read that article about upgrading.

I really appreciate your help

Minecache

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Quote from: SVK on July 09, 2017, 06:18:38 AM

Quote from: Minecache on July 09, 2017, 06:08:55 AM

Quote from: SVK on July 09, 2017, 06:07:39 AM

Quote from: negancoin on July 09, 2017, 06:02:37 AM

if are not trading just create a paper wallet and move all ur BTC into it. and wait to see what's gonna happen.

Never traded BTC I'm just hoarder holder

What is paper wallet(heard about it before but never investigated further) ?

Thank you

It's a piece of paper that holds your private and public key.

Where can I find it in Electrum ?

Electrum displays only History - Send-Receive-Contacts-Wall

There is no option to print/download any private/public keys.

Just create the paper wallet elsewhere print out the private and public key then transfer your bitcoins into the paper wallet. Honestly I think that you are best just to wait until all the dust settles.

BTCLovingDude

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Quote from: SVK on July 09, 2017, 06:11:11 AM

Electrum wallet - I just have icon on my desktop.
I have copied electrum.dat to USB but I'm not sure if that is what you mean.?

Offline ?

I don't want to be pain but sadly I'm a bit clueless Sad

offline aka cold storage: http://docs.electrum.org/en/latest/coldstorage.html

two things you need to back uo
1. seed: http://docs.electrum.org/en/latest/faq.html#what-is-the-seed
2. wallet file: http://docs.electrum.org/en/latest/faq.html#where-is-my-wallet-file-located

you can and should write down the seed on piece of paper.

Quote from: SVK on July 09, 2017, 06:15:30 AM

I'm still on Electrum 1.6.1 should I update it to newer version or old one is good enough ?

Thank you very much for your help

wow, that is OLD Cheesy

be careful when upgrading. make sure to back up your wallet file and seed first and also read this link: http://docs.electrum.org/en/latest/faq.html#how-to-upgrade-electrum
then upgrade. the wallet has changed since version 1.x and you may encounter some troubles. so it is best to have these 2 backups just in case.

Quote from: SVK on July 09, 2017, 06:18:38 AM

Where can I find it in Electrum ?

Electrum displays only History - Send-Receive-Contacts-Wall

There is no option to print/download any private/public keys.

SEED is the only thing you need.
private keys can also be found if you right click on each address in address tab (which is visible by default in version 1.6) and click private keys. or from the menu use export pivate keys under the wallet link.

crazyivan

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Quote from: SVK on July 09, 2017, 06:11:11 AM

Quote from: crazyivan on July 09, 2017, 06:08:04 AM

No need to do anything. Just make sure your coins are safe in your Electrum wallet and offline if possible. There s no proof there will be BTC fork at all, we can only wait ATM.

Electrum wallet - I just have icon on my desktop.
I have copied electrum.dat to USB but I'm not sure if that is what you mean.?

Offline ?

I don't want to be pain but sadly I'm a bit clueless Sad

Yes, just dont touch it. The best option would be to have it on a separate offline machine, but this is more related to safety then to actual potential fork. There s really no need for you to worry, business as usual, let s wait and see what happens.

SVK

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Activity: 378

Merit: 250

Quote from: Minecache on July 09, 2017, 06:08:55 AM

Quote from: SVK on July 09, 2017, 06:07:39 AM

Quote from: negancoin on July 09, 2017, 06:02:37 AM

if are not trading just create a paper wallet and move all ur BTC into it. and wait to see what's gonna happen.

Never traded BTC I'm just hoarder holder

What is paper wallet(heard about it before but never investigated further) ?

Thank you

It's a piece of paper that holds your private and public key.

Where can I find it in Electrum ?

Electrum displays only History - Send-Receive-Contacts-Wall

There is no option to print/download any private/public keys.

Minecache

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Quote from: SVK on July 09, 2017, 06:11:11 AM

Quote from: crazyivan on July 09, 2017, 06:08:04 AM

No need to do anything. Just make sure your coins are safe in your Electrum wallet and offline if possible. There s no proof there will be BTC fork at all, we can only wait ATM.

Electrum wallet - I just have icon on my desktop.
I have copied electrum.dat to USB but I'm not sure if that is what you mean.?

Offline ?

I don't want to be pain but sadly I'm a bit clueless Sad

Just don't open the wallet.

SVK

sr. member

Activity: 378

Merit: 250

Quote from: BTCLovingDude on July 09, 2017, 06:08:41 AM

Quote from: SVK on July 09, 2017, 05:48:31 AM

Quote from: BTCLovingDude on July 09, 2017, 05:40:27 AM

This explains most things that you need to know: http://docs.electrum.org/en/latest/hardfork.html

Thank you very much for your help.

I have stumbled across that article and my head exploded that's why I went on here to ask.

I have zero clue what is that guy talking about. Splitting coins ?
I'm not confident enough to start splitting anything. I can cut apple in two half's but not bitcoin

that guy, Thomas Voegtlin, is the developer of Electrum Cheesy

and splitting coins means only in case two chains coexist. but in case in the future any fork regarding scaling happens and only one chain exists in the end, you don't have to do anything at all.

Quote

He is talking about command lines but I'm using Windows 7 Sad

you can always run a live linux quickly and do these steps.

and i believe they have added new features in the newer versions and also the 2.9 is coming which will have additional features. and won't need command line.
i really haven't checked this much. read here: https://github.com/spesmilo/electrum/blob/master/RELEASE-NOTES#L1-L6
2.9 is NOT released yet.

Quote

Who the fuck fell on his head and came up with idea to split bitcoin ? WTF ?

Would it be best if I change all BTC into cash ?
(unfortunately I'm not verified on any exchange so I will not be able to take money out)

you have 2 options:
1. wait it out. just do nothing. don't touch the coins, don't try to sell or anything and wait to see what happens and after a while when things became clear start again.
2. sell from a small portion to all your coins until you are left with a more comfortable number. for example if you have 10,000BTC and you are nervous then sell 6,000BTC and hold 4,000BTC to feel more comfortable Wink

whether selling is better or not, i can not tell you. sorry!

10,000 Bitcoins lol.

I don't have that many

I'm still on Electrum 1.6.1 should I update it to newer version or old one is good enough ?

Thank you very much for your help

SVK

sr. member

Activity: 378

Merit: 250

Quote from: crazyivan on July 09, 2017, 06:08:04 AM

No need to do anything. Just make sure your coins are safe in your Electrum wallet and offline if possible. There s no proof there will be BTC fork at all, we can only wait ATM.

Electrum wallet - I just have icon on my desktop.
I have copied electrum.dat to USB but I'm not sure if that is what you mean.?

Offline ?

I don't want to be pain but sadly I'm a bit clueless Sad

Minecache

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Quote from: SVK on July 09, 2017, 06:07:39 AM

Quote from: negancoin on July 09, 2017, 06:02:37 AM

if are not trading just create a paper wallet and move all ur BTC into it. and wait to see what's gonna happen.

Never traded BTC I'm just hoarder holder

What is paper wallet(heard about it before but never investigated further) ?

Thank you

It's a piece of paper that holds your private and public key.

BTCLovingDude

legendary

Activity: 1134

Merit: 1010

BTC to the moon is inevitable...

Quote from: SVK on July 09, 2017, 05:48:31 AM

Quote from: BTCLovingDude on July 09, 2017, 05:40:27 AM

This explains most things that you need to know: http://docs.electrum.org/en/latest/hardfork.html

Thank you very much for your help.

I have stumbled across that article and my head exploded that's why I went on here to ask.

I have zero clue what is that guy talking about. Splitting coins ?
I'm not confident enough to start splitting anything. I can cut apple in two half's but not bitcoin

that guy, Thomas Voegtlin, is the developer of Electrum Cheesy

and splitting coins means only in case two chains coexist. but in case in the future any fork regarding scaling happens and only one chain exists in the end, you don't have to do anything at all.

Quote

He is talking about command lines but I'm using Windows 7 Sad

you can always run a live linux quickly and do these steps.

and i believe they have added new features in the newer versions and also the 2.9 is coming which will have additional features. and won't need command line.
i really haven't checked this much. read here: https://github.com/spesmilo/electrum/blob/master/RELEASE-NOTES#L1-L6
2.9 is NOT released yet.

Quote

Who the fuck fell on his head and came up with idea to split bitcoin ? WTF ?

Would it be best if I change all BTC into cash ?
(unfortunately I'm not verified on any exchange so I will not be able to take money out)

you have 2 options:
1. wait it out. just do nothing. don't touch the coins, don't try to sell or anything and wait to see what happens and after a while when things became clear start again.
2. sell from a small portion to all your coins until you are left with a more comfortable number. for example if you have 10,000BTC and you are nervous then sell 6,000BTC and hold 4,000BTC to feel more comfortable Wink

whether selling is better or not, i can not tell you. sorry!

crazyivan

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No need to do anything. Just make sure your coins are safe in your Electrum wallet and offline if possible. There s no proof there will be BTC fork at all, we can only wait ATM.

SVK

sr. member

Activity: 378

Merit: 250

Quote from: negancoin on July 09, 2017, 06:02:37 AM

if are not trading just create a paper wallet and move all ur BTC into it. and wait to see what's gonna happen.

Never traded BTC I'm just hoarder holder

What is paper wallet(heard about it before but never investigated further) ?

Thank you

SVK

sr. member

Activity: 378

Merit: 250

Quote from: Minecache on July 09, 2017, 05:56:14 AM

Quote from: SVK on July 09, 2017, 05:48:31 AM

Quote from: BTCLovingDude on July 09, 2017, 05:40:27 AM

This explains most things that you need to know: http://docs.electrum.org/en/latest/hardfork.html

Thank you very much for your help.

I have stumbled across that article and my head exploded that's why I went on here to ask.

I have zero clue what is that guy talking about. Splitting coins ?
I'm not confident enough to start splitting anything. I can cut apple in two half's but not bitcoin

He is talking about command lines but I'm using Windows 7 Sad

Who the fuck fell on his head and came up with idea to split bitcoin ? WTF ?

Would it be best if I change all BTC into cash ?
(unfortunately I'm not verified on any exchange so I will not be able to take money out)

The best advice would be to leave your coins untouched until everything has settled down and the dev updates the wallets to include easy chain splitting. I use Electrum too and this is my plan.

Thank you very much

That's one of the best options

I didn't touch it since 2013 but now Bitcoin is gone from August 1 I'm not sure.

It's sad to see bitcoin going as it was interesting ride for couple of years but I guess nothing lasts forever.

negancoin

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if are not trading just create a paper wallet and move all ur BTC into it. and wait to see what's gonna happen.

Minecache

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Quote from: SVK on July 09, 2017, 05:48:31 AM

Quote from: BTCLovingDude on July 09, 2017, 05:40:27 AM

This explains most things that you need to know: http://docs.electrum.org/en/latest/hardfork.html

Thank you very much for your help.

I have stumbled across that article and my head exploded that's why I went on here to ask.

I have zero clue what is that guy talking about. Splitting coins ?
I'm not confident enough to start splitting anything. I can cut apple in two half's but not bitcoin

He is talking about command lines but I'm using Windows 7 Sad

Who the fuck fell on his head and came up with idea to split bitcoin ? WTF ?

Would it be best if I change all BTC into cash ?
(unfortunately I'm not verified on any exchange so I will not be able to take money out)

The best advice would be to leave your coins untouched until everything has settled down and the dev updates the wallets to include easy chain splitting. I use Electrum too and this is my plan.

SVK

sr. member

Activity: 378

Merit: 250

Quote from: BTCLovingDude on July 09, 2017, 05:40:27 AM

This explains most things that you need to know: http://docs.electrum.org/en/latest/hardfork.html

Thank you very much for your help.

I have stumbled across that article and my head exploded that's why I went on here to ask.

I have zero clue what is that guy talking about. Splitting coins ?
I'm not confident enough to start splitting anything. I can cut apple in two half's but not bitcoin

He is talking about command lines but I'm using Windows 7 Sad

Who the fuck fell on his head and came up with idea to split bitcoin ? WTF ?

Would it be best if I change all BTC into cash ?
(unfortunately I'm not verified on any exchange so I will not be able to take money out)

BTCLovingDude

legendary

Activity: 1134

Merit: 1010

BTC to the moon is inevitable...

This explains most things that you need to know: http://docs.electrum.org/en/latest/hardfork.html

SVK

sr. member

Activity: 378

Merit: 250

Hi all,

I have all my BTC on Electrum since 2013.
Now this hardfork is coming and I'm not sure what to do.

Please can you tell me if I should quickly download BTC core wallet and transfer all BTC there or should I just leave all BTC on Electrum ?

Thank you very much for help

Topic: Electrum and 1st of August. - page 4. (Read 5755 times)