is bitpay wallet SegWit ready? | Bitcointalksearch.org

metalbean

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Quote from: Yakamoto on July 02, 2017, 11:44:28 AM

Quote from: metalbean on July 02, 2017, 05:08:11 AM

I have some coins in Bitpay's cold wallet.

However there isn't any official statement from Bitpay regarding the impending fork. I want to make sure that if it happens I'll be safe with both the new coins and the legacy coins.

IIRC Bitpay was part of the companies that were all going to be tooling around with Segwit and testing some of the technologies that they wanted to be implementing when they get around to the fork, so I do believe all of your Bitcoin would be safe and they would be transferred to the "new" blokchain as the fork gets officially rolled out and used by the community.

I believe that Blockchain is numbered among the companies in that one agreement, however Coinbase is not from what I remember reading.

Yes, IIRC BIP148 is an attempt to hard fork it if the SegWit concensus is not met (not sure if it's only SegWit or both SegWit and 2mb block). If that happens some says exchanges might choose one or another if not both. Realisitically we want to keep both the BIP148 coins and the legacy-main-fork coins.

Kronos21

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Under the threat there will be only a chain of transactions. If you keep your bitcoins in your wallet and won't be anywhere to send the opcode does not threaten you. To fine-tune the system better to wait and observe the silence. I think the panic is exaggerated.

Yakamoto

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Quote from: metalbean on July 02, 2017, 05:08:11 AM

I have some coins in Bitpay's cold wallet.

However there isn't any official statement from Bitpay regarding the impending fork. I want to make sure that if it happens I'll be safe with both the new coins and the legacy coins.

IIRC Bitpay was part of the companies that were all going to be tooling around with Segwit and testing some of the technologies that they wanted to be implementing when they get around to the fork, so I do believe all of your Bitcoin would be safe and they would be transferred to the "new" blokchain as the fork gets officially rolled out and used by the community.

I believe that Blockchain is numbered among the companies in that one agreement, however Coinbase is not from what I remember reading.

alani123

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Leading Crypto Sports Betting & Casino Platform

It'd be better to store coins in a wallet where you can retrieve the private keys. If the one mentioned in OP would allow you to do so then you're safe. In my opinion, this is the best way as it'd only have you relying on yourself to choose.

metalbean

full member

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Quote from: EXtremeAEX on July 02, 2017, 08:49:27 AM

Even if the wallet is considered 'ready' and 'safe', you should still store it in a local wallet to ensure 100% safety, and I recommend you to do it before it comes. I've also made the switch from an online exchange wallet to a desktop wallet (Electrum), and I suggest you do the same.

Quote from: Amph on July 02, 2017, 05:27:08 AM

exchange and vendors have already stated that, i found this, which should be interesting to read https://cryptoinsider.com/bitpay-working-alternatives-bitcoins-lightning-network-dont-require-segwit/

Good read, I support off chain transactions too, especially for micro-transactions, which a lower fee would be better. CoinBase also supports off chain transactions and there are no fees if transferred in internal accounts, and I hope Bitcoin will move towards this direction too. Scaling of transactions is really going to be an issue, honestly.

Yeaps, it is their offline bitpay wallet I am talking about

EXtremeAEX

hero member

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Even if the wallet is considered 'ready' and 'safe', you should still store it in a local wallet to ensure 100% safety, and I recommend you to do it before it comes. I've also made the switch from an online exchange wallet to a desktop wallet (Electrum), and I suggest you do the same.

Quote from: Amph on July 02, 2017, 05:27:08 AM

exchange and vendors have already stated that, i found this, which should be interesting to read https://cryptoinsider.com/bitpay-working-alternatives-bitcoins-lightning-network-dont-require-segwit/

Good read, I support off chain transactions too, especially for micro-transactions, which a lower fee would be better. CoinBase also supports off chain transactions and there are no fees if transferred in internal accounts, and I hope Bitcoin will move towards this direction too. Scaling of transactions is really going to be an issue, honestly.

Amph

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the second part of segwit will not happen for sure, the only part that will happen is the first one which is segwit

exchange and vendors have already stated that, i found this, which should be interesting to read https://cryptoinsider.com/bitpay-working-alternatives-bitcoins-lightning-network-dont-require-segwit/

metalbean

full member

Activity: 448

Merit: 103

I have some coins in Bitpay's cold wallet.

However there isn't any official statement from Bitpay regarding the impending fork. I want to make sure that if it happens I'll be safe with both the new coins and the legacy coins.

Topic: is bitpay wallet SegWit ready? (Read 857 times)