Electrum Legacy address - page 2. | Bitcointalksearch.org

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Quote from: FinneysTrueVision on May 19, 2021, 10:20:32 PM

Quote from: Charles-Tim on May 19, 2021, 08:28:54 PM

Quote from: FinneysTrueVision on May 19, 2021, 07:37:24 PM

The only reason I can think of for somebody wanting to use a legacy address would be for message signing. There is no benefit to using this type of address.

Message signing is the complain some people do make, but it is not just a genuine excuse because I signed my first message using segwit (bc1q) address when I was a newbie.

There isn't an official standard when it comes to signing messages with segwit addresses. If you did sign a message it might not be recognized as valid when you try to verify it with a different wallet or program.

Technically there is no "standard" in bitcoin world apart from the consensus rules. Even addresses aren't standards because they are not part of the consensus rules! But there are already 2 BIPs (which in some ways could be called "standard") for signing messages from an address: BIP-137 and 322.

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Quote from: Charles-Tim on May 19, 2021, 08:28:54 PM

Quote from: FinneysTrueVision on May 19, 2021, 07:37:24 PM

The only reason I can think of for somebody wanting to use a legacy address would be for message signing. There is no benefit to using this type of address.

Message signing is the complain some people do make, but it is not just a genuine excuse because I signed my first message using segwit (bc1q) address when I was a newbie.

There isn't an official standard when it comes to signing messages with segwit addresses. If you did sign a message it might not be recognized as valid when you try to verify it with a different wallet or program.

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Quote from: Peanutswar on May 19, 2021, 09:13:54 PM

Thanks for the information It works is there any difference between the seed given by the electrum on create seed and the console as given on the image above?.

Effectively no... they are, for all intents and purposes, exactly the same... as long as you use "128" and "standard" parameters when calling make_seed()

If you use different values, then it will generate seeds with different amounts of entropy or different features, ie. 2fa etc.

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Quote from: Peanutswar on May 19, 2021, 09:13:54 PM

Thanks for the information It works is there any difference between the seed given by the electrum on create seed and the console as given on the image above?.

When you create a new wallet through the UI you are calling that function (make_seed) under the hood with values you select in the interface. Using the console you can manually call that function and set the parameters that you like and are not available through the UI such as selecting a different entropy size or a different address type.
It goes without saying that you shouldn't use console in general if you don't understand what you are doing.

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Quote from: Charles-Tim on May 19, 2021, 07:07:25 PM

But please, is there any good reason you want to create legacy wallet?

When I was starting on the forum I used the segwit bc1 and I want to try the difference between the legacy address that's why I come up I want to have legacy too.

Quote from: Husna QA on May 19, 2021, 07:38:59 PM

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Thanks for the information It works is there any difference between the seed given by the electrum on create seed and the console as given on the image above?.

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Quote from: FinneysTrueVision on May 19, 2021, 07:37:24 PM

The only reason I can think of for somebody wanting to use a legacy address would be for message signing. There is no benefit to using this type of address.

Message signing is the complain some people do make, but it is not just a genuine excuse because I signed my first message using segwit (bc1q) address when I was a newbie.

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Quote from: Peanutswar on May 19, 2021, 07:01:54 PM

On the recent version of the electrum I know there's an option to the users for having a legacy and a segwit wallet now upon checking again because I want to create a two wallet which is I want to create a legacy there's no option at all at this time I would like to ask what and when happen they remove the legacy option on electrum?

The process now becomes Create new wallet > Standard wallet > Seed phrase > Password and automatically created an address which all segwit.

Elimination of the seed type selection option and by default the resulting wallet is Segwit wallet (Bech32 address) starting from Electrum 4.1.0. For details can be seen in the release note.

Quote from: Husna QA on April 02, 2021, 03:15:01 AM

Then create a new wallet using the seed generated through the Console. Here is an example of the results:

Quote from: Husna QA on April 02, 2021, 03:15:01 AM

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The only reason I can think of for somebody wanting to use a legacy address would be for message signing. There is no benefit to using this type of address. If you want an address that is compatible with services that don't support bech32 withdrawals you can just use a wrapped Segwit address.

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Segwit is the default since version 4.1.0 and up.

You can use segwit to reduce the fee in a transaction, segwit reduces 42% to about 52% of fee in a transaction if compared with legacy depending on the transaction inputs and outputs but most especially inputs. Because of this, for people not to waste unnecessary fee on legacy transactions, segwit is made default. I think this is a cool and best idea, nobody should use legacy wallet again in my opinion.

But please, is there any good reason you want to create legacy wallet?

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On the recent version of the electrum I know there's an option to the users for having a legacy and a segwit wallet now upon checking again because I want to create a two wallet which is I want to create a legacy there's no option at all at this time I would like to ask what and when happen they remove the legacy option on electrum?

The process now becomes Create new wallet > Standard wallet > Seed phrase > Password and automatically created an address which all segwit.

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