Post
Topic
Board Bitcoin Discussion
Re: Bitcoin sending fees... are you serious?
by
nullius
on 16/12/2017, 09:33:32 UTC

I don’t know about the others, but Electrum 3.0 does support Segwit.  You will need to create a new Segwit wallet.  By default, Electrum will give you the new address format with error-correcting codes; those addresses will start with the letters “bc”, and only people with Segwit-enabled software will be able to send money to them.  There are also backward-compatible Segwit “3” address, such as the address you see in my signature; anybody can send money to that, even with old software.  There is a method to make Electrum generate that address type, but it is somewhat more involved; perhaps one of these days, I should write up userfriendly instructions and post them in the Electrum forum.


really? then thats cool. thanks for the verry informative coment. im also using an electrum wallet but i didnt know what versions i currently used but now im gonna update my version to 3.0 to be able to support and use that segwit feature in order for me to enjoy lesser transaction fees and faster transfer time when compared to some wallets that doesnt support this segwit option. although some wallets like coinomi and blockchain are still have an option to adjust your desired fees whether you want low or high priority.

You’re welcome; and yes, indeed!  From the Electrum Version 3.0 Release Notes:

Code:
# Release 3.0 - Uncanny Valley (November 1st, 2017)

[...]

  * Segwit support:

    - Native segwit scripts are supported using a new type of
      seed. The version number for segwit seeds is 0x100. The install
      wizard will not create segwit seeds by default; users must
      opt-in with the segwit option.

    - Native segwit scripts are represented using bech32 addresses,
      following BIP173. Please note that BIP173 is still in draft
      status, and that other wallets/websites may not support
      it. Thus, you should keep a non-segwit wallet in order to be
      able to receive bitcoins during the transition period. If BIP173
      ends up being rejected or substantially modified, your wallet
      may have to be restored from seed. This will not affect funds
      sent to bech32 addresses, and it will not affect the capacity of
      Electrum to spend these funds.

    - Segwit scripts embedded in p2sh are supported with hardware
      wallets or bip39 seeds. To create a segwit-in-p2sh wallet,
      trezor/ledger users will need to enter a BIP49 derivation path.

[...]

Always be sure to download the latest version of Electrum directly from the official site at https://electrum.org/, to avoid fake sites which may infect you with coin-stealing malware.