Post
Topic
Board Electrum
Re: Electrum 3.0 is out !
by
Rahar02
on 04/11/2017, 11:07:20 UTC
I just created a new segwit wallet but my new address start with bc1*************** and not with 3*********
Why?

This is a native segwit standard (so called bech32 address using P2WPKH) but this is not yet supported by merchants or other wallets. The addresses starting with 3 are P2SH addresses. They can specify many things, including segwit embedded inside P2SH (P2SH-P2WPKH). I figured out how to create such a wallet in Electrum (use BIP39 seed and m/49'/1'/0' derivation path) but it may be better to wait for some more official tutorials.

Unfortunately, segwit wallets are not standardized yet and there might be problems with importing/exporting keys between wallets.

It's a good development for electrum, but address start with bc1*** is a native segwit standard? I don't know about it, and doesn't have to start with "3" right? As long as it's segwit address, doesn't matter for me.
But, regarding segwit address cause low fees for bitcoin transaction, is it really worth? I mean, we pay very low fees such $0,4 but miners tend to pick higher fees to included into next block, especially for current market transactions, over 54,000 unconfirmed transactions.