I split my BTC using 'electron cash', sold it on 'viaBTC'

in cryptocurrency •  7 years ago  (edited)

I for a fact do not believe in Bitcoin Cash (BCC or BCH). The only reason the price is high is because only traders have their BCC on exchanges. Regular holders don't know how to acces and sell there acquired BCC yet.

Here is how I did it. I used my 'Electrum' BTC wallet and the new 'Electron cash' BCC wallet to split my coins and sold them on 'viaBTC' (only exchange accepting BCC deposits)

  1. Acces your new 'Bitcoin Cash' so you can send them.

    a)Fork happend on 2017-08-01 12:20 p.m. UTC. You still have your BTC on your wallet but now also a equal hidden amount of BCC.
    b) Split your BTC from the hidden BCC (to secure your BTC). Do this by making a new wallet (Wallet B) and sending your BTC from your original wallet (Wallet A) to this new wallet (wallet B).
    c)Now your BTC and BCC are split you can safely send your new BCC without risking you messing up your BTC. Use your private key to recover your wallet (Wallet A) on BCC wallet software like: http://www.electroncash.org/
    d)From wallet A now accessed with the BCC wallet software you can now send your BCC coins.

  2. Trade for a profit before bitcoin cash is worth nothing and the chain dies.
    Send your BCC to any exchange that trades Bitcoin cash (BCC, or some call it BCH)
    The supporting exchanges are listed here: https://www.bitcoincash.org/
    I used 'viaBTC'

Update:
01/08/2017
People are saying 'viaBTC' needs some confirmations to deposit and it takes long, For me it took only 5min with a normal fee.

People are saying it is hard or you can't withraw BTC from 'viaBTC', I bought some ETH and withdrew that.

03/08/2017
HitBTC exchange posted:
"require only 2 confirmations for BitcoinCash (BCC) deposits and 1 for withdrawals
provide you with BTC, ETH, USD trading pairs
have made sure that BCC withdrawals are proceeding reasonably fast."
Haven't checked if they can be trusted yet.

03/08/2017
Bittrex now allowing BCC deposits!
https://steemit.com/bitcoin/@g0rnex/bittrex-now-allowing-bitcoin-cash-deposits-crash-incoming

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Very good instructions list for the crypto noobies.

Thanks, I wrote them down for some friends. Thought i'd share them

Congratulations @g0rnex!
Your post was mentioned in the hit parade in the following category:

  • Pending payout - Ranked 6 with $ 39,22

That's nice. Makes me feel good indeed that other can benefit from what I tested and took the effort to share. Thanks!

  ·  7 years ago (edited)

For people getting started with cryptocurrency, start learning. Its the future. I made this gdoc with some handy sites, feel free to share:

https://docs.google.com/document/d/10VweH0qIzTCc86H_YPZ2YR5IJVeo6VKsBmhuEk9_2Z0/edit

Want to get in to Bitcoin now the fork is over? you aren't very technical. Just use a simple paper wallet:
https://docs.google.com/document/d/1RDU2XgEtG0yXW1rHOX1_E7WDST0vFTkdvnD1DdCTghw/edit?usp=sharing

  ·  7 years ago (edited)

I can't install electron cash 2.9, I don't know why. It simply closes after installation and there is no .exe in the folder created.
On the other hand I installed the Android version (2.8)... but when I want to send BCC to another address it says :
error: The transaction was rejected by network rules. (16: mandatory-script-verify-flag-failed (Non-canonical DER signature))
I have enough money, and it is verified.
Then something with the signature is bad in the App.

Pls check the signature of the install file like Electron mentions on there site. I did this to verify I downloaded the legit file. It checked out for me.

are bittrex deposits now open?

Yes they are! expect crash boys!

  ·  7 years ago (edited)

My log:

  • tried installing electroncash on mac os x - crashes
  • installed electroncash on android
  • tried importing (electrum) 13 word seed phrase on electroncash - not working
  • tried importing private keys, but can't figure out to get electroncash to take more than one key

Suggestions?

Ironically Bitcoin cash with the fumbles in the warez is made so hard to sell that most people will have extreme difficulties of getting access to their coins to dump

Ineed, that makes the drop slower. But with exchanges accepting deposits now drop is incoming.

For your problem, Haven't used electron on android. Maybe you can run a virtual windows PC to install Electron Cash. Would also make it more secure to have Electron cash on separate device.

  ·  7 years ago (edited)

I did so and got my BCC showing up correctly. But I keep getting error messages when trying to send a transaction. Maybe the network is congested, to the point of out of service.
All in all the user experience is amateurish to be mild. Obviously guys behind BCC really didnt want a superior technology, nor user experience. It's hard to even get the rightful coins, less to exchange them out. So question remains what they wanted? 6 bio market value in a snap that's way across the border into Ponzi land. Instant karma these egomaniacs will get.. price is tanking right now down from 700 to 275 in 48h