On November 15, the Bitcoin Cash blockchain was upgraded according to schedule but also saw a consensus split in the chain, and the network was split into two. After the split, many consumers have been looking for ways to split their coins in order to store them separately or sell the unwanted tickets on an exchange. The following is a step-by-step guide on how to share forklifts using a few different tools.
Splitting Cash from Bitcoin Cash Network Fork Using Electron Cash Version 4.2.0
In mid-November, just like every year before, the Bitcoin Cash network upgraded to fix the difficulty adjustment algorithm (DAA). But just as in 2018, there has been great disagreement, as Bitcoin ABC’s full-featured client decided to implement the infrastructure financing plan (IFP) into the node’s code base. Since this decision did not fit well with the mining community and participants, the pro-IFP ABC chain withdrew from Bitcoin Cash and became its own network.
At the time of publication, the pro-IFP ABC chain remains anonymous, and is often referred to as “BCHA” or “BAB.” For the sake of consistency and clarity in this guidance, the pro-IFP ABC chain is referred to as “BCHA.” Following the fork and the recent run of empty blocks by a mysterious miner, I decided to split my coins in two, so that I could sell what I don’t want in about a week.
People have posted a few different ways to share coins and Bitcoinbch.com CEO Hayden Otto posted a video on how to easily share tokens by leveraging the Coinex exchange. Check out his video below as the process is simpler, but remember, Coinex is a prison exchange.
The method I followed, was originally from the web portal keepbitcoinfree.org but I decided to do it just hair differently. Days before the fork, I moved bitcoin cash (BCH) from a hardware wallet to a jail-free Bitpay wallet. After the split, I downloaded noncustodial Wallet and Electron Cash (EC) version 4.2.0 from the project’s Github repository.
Version 4.2.0 of EC allows the user to switch between servers, which gives people the opportunity to share their coins. After firing the 4.2.0 EC release, I decided to create a new wallet called “Splitting Time.” I used the 12 word seed phrase I was given when I created my Bitpay wallet to restore my BCH funds to the newly created “Split Time” wallet. If you do not need to retrieve your wallet and are already leveraging the Electron Cash 4.2.0 wallet version, then you can skip to the split section of this article.
I selected the “file” tab on the top left of the wallet and scrolled down to “new / restored.” From here, I named the new BCH wallet “Splitting Time” and selected “standard wallet.” After pressing “next,” I then selected “I already have a seed” and pressed again “next” to continue the process. Many wallets now have different modes of origin paths, but I was aware that Bitpay is leveraging the BIP39 version of mnemonic seed expressions. After selecting “I already have a seed,” the next step was to type the 12 word phrase into the box with spaces.
You should never do this process if you fear your computer may have malware or if other people are around. It is advisable to be completely alone in this process as the 12-word mnemonic word list is essentially your private key, and can give anyone access to the funds. Before typing the seed, knowing that my Bitpay wallet leverages BIP39, I selected the “options” tab under the window to toggle the BIP39 recovery process.
Bitcoin.com wallet owners can also follow this step as the non-custodial client also uses BIP39. The options window allows you to select “force BIP39 interpretation from this seed and if the seed expression is not correct the check will say” failed. ”However, once I correctly identified the seed phrase, the client Electron Cash told me that the check was good.
The Split Process by Leveraging Both Networks
From here, I pressed “next” and immediately successfully imported my Bitpay wallet into an EC client. The next thing I did was check the network settings, to access the BCHA side of the chain. I went to the top of the wallet and selected “tools” and scroll down to the section that says “network …” and select that option.
A window appears and from here I selected the “server” tab to type “electrum.bitcoinabc.org” and port “50002” in the server section.
After installing the network to “electrum.bitcoinabc.org” the overview section will tell you “chain split” [was] found in block 661648 ”and my server is on“ branch 4284c9d8b2. ”Branch 4284c9d8b2 is the server that triggers you to interact with the BCHA chain.
After noticing that my coins were accessible on both chains, I switched back to a Bitcoin Cash (BCH) server by activating the server called “bch.cyberbits.eu.” Now the keepbitcoinfree.org guide tells the user to select two addresses from the wallet address section and label each of them for each network separately. Instead, I fired up my Bitcoin.com Wallet and grabbed a new and fresh BCH address to get a place to send my money.
To send my bitcoin (BCH) cash, I made sure my wallet was set to “bch.cyberbits.eu” branch 29e471c418 and sent the small fraction of BCH to the Bitcoin.com Wallet. Pending a single confirmation, I moved back to the BCHA side and noticed that no transactions were sent from my BCHA coins.
After feeling confident that everything was working smoothly, I jumped back over to the “bch.cyberbits.eu” 29e471c418 (Bitcoin Cash network) branch to send the rest of my money to the Bitcoin.com Wallet. I simply used the same address from my initial test send and pressed “max” on the EC client to send all the money.
Again, while awaiting one confirmation on the BCH chain, I switched over to branch 4284c9d8b2 “electrum.bitcoinabc.org,” and noticed again that all BCHA coins remain in the wallet. Not too long after all my bitcoin (BCH) cash funds had confirmed, I decided to send my BCHA coins to another address by leveraging the BCHA wallet abc-wallet.fullstack.cash.
Split Process Takes Less Than 30 Minutes
My BCHA is now resting in the new wallet until I decide what to do with the tickets and my BCH is safe in my new prison-free wallet.
After splitting the coins at this point, I can send the money to any exchange, anytime I want. As I mentioned above, there are a few other ways the process can be followed, and not only can users send the money to an exchange that supports BCHA, but they can also leverage a non-custodial wallet from the abc- wallet.fullstack.cash. The wallet is a browser wallet and consumers may want to choose to use the ABC Electrum wallet to hold BCHA.
In addition, ABC’s Bitcoin development team created a publishing a non-custodial wallet as well as the name Electrum ABC. Bitcoin ABC developer Antony Zegers also published a guide on how to share coins that leverage the Electron Cash wallet and the new Electrum ABC client.
Do not share coins unless you are 100% comfortable with the process and understand that the procedure takes patience. Also, remember that step-by-step walking editors are intended for informational purposes only. Many risks and security approaches are ultimately made by the consumer’s decisions. Various steps are mentioned in news reviews and news split guides.Bitcoin.com and some are optional.
What do you think about coin sharing and the process involved? Let us know what you think of this topic in the comments section below.
Image Credits: Shutterstock, Pixabay, Wiki Commons, Electron Cash
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