NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: FTX Recovery Trust Set To Disburse $1.6 Billion By Month-End, FTT Price Skyrockets
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: FTX Recovery Trust Set To Disburse $1.6 Billion By Month-End, FTT Price Skyrockets

Sending Bitcoin Cash to a SegWit-enabled BTC Address

newsbtc
newsbtc
1 year ago
2 mins read
NewsBTC Bitcoin Cash to SegWit

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

It appears Bitcoin Cash supporters have a major issue to contend with. This is not a protocol issue per se, but it can have major consequences. Anyone sending Bitcoin Cash to a SegWit-capable Bitcoin address will lose their money. As Both networks support P2SH and sending wallets cannot verify which blockchain the address resides on, it poses a financial risk. It appears quite a few people have already lost money due to their own carelessness in this regard.

Sending money to the correct address on a blockchain is one thing. Ensuring that address doesn’t belong to an altcoin using the same P2SH is something else entirely. With Bitcoin Cash and BTC addresses looking very similar, money can easily be sent to a wrong address. When that happens as a BCH transfer, the money will effectively be lost forever. It is a great way to reduce the available supply, but not something the developers intended to happen.

Bitcoin Cash Funds may be Recovered Eventually

Unfortunately, issues like this one have become rather prevalent over the past few weeks. Reddit is filled with reports by BCH users sending money to the wrong address. It is evident users have a lot more research to do in this regard. Although wallets should prevent these transfers from happening, that is not always possible. Sending wallets can’t distinguish P2SH-wrapped SegWit address with a redeemscript from regular addresses. There is no way to actively prevent these misspends from happening unless users start to pay more attention to what they are doing.

There may be a way to recover some of this lost funds in the future. It is certainly true Bitcoin Cash doesn’t support SegWit, nor will it anytime soon. However, the money stored in SW addresses is, in theory, spendable if miners don’t enforce the SegWit rules. Bitcoin Cash’ network does not enforce such rules, which leaves the door open for a solution to be created. It is unclear whether or not such a solution will ever come to fruition, though. If that were to be the case, it would still require a lot of trust from all parties involved.

Rest assured these issues will continue to cause friction between BTC and BCH supporters. Many people in the Bitcoin community see this as a “good way to get rid of Bitcoin Cash”. Wishing financial hardship upon people for having a different opinion isn’t the right mindset, though. For now, the missing funds reduce the effective number of BCH in circulation. It creates a whole new level of scarcity, albeit not necessarily a positive one. It will be interesting to see how this situation plays out in the months to come.

Header image courtesy of Shutterstock

Tweet123Share196ShareSend
newsbtc
newsbtc

newsbtc

Comments 2

  1. Gurtrude Goodbody says:
    8 years ago

    I’m appalled by the nasty attitude of bitcoin supporters on social media sites. I no longer want anything to do with a camp of aggressive and often grossly rude people. Enough to dump my bitcoin in preference for BitcoinCash with a growing community who behave more in Satoshi’s vision.

    Reply
    • Daxx10 says:
      8 years ago

      What? They’re rude?
      Why, they must be overreacting to a bunch of thieves who want to stamp the Bitcoin brand on their cloned altcoin to legitimise their corporate takeover attempt.
      Your Bcash lead developer can’t even copy the code without feeling the need to remove credits to the original developers.
      They do nothing but moan about what’s wrong with Bitcoin, so it sounds like you’d fit in very nicely over there. You won’t be appalled by anything they do because Roger Ver hasn’t written that part into the anti-CoreDev script he provides to all his toady trolls.

      (Well, you said we were rude, so I get to be rude at no further cost because of your rabid stereotyping opening line. I’m actually very polite to people who can avoid disrespect. You described yourself, perfectly.)

      Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Comments 2

  1. Gurtrude Goodbody says:
    8 years ago

    I’m appalled by the nasty attitude of bitcoin supporters on social media sites. I no longer want anything to do with a camp of aggressive and often grossly rude people. Enough to dump my bitcoin in preference for BitcoinCash with a growing community who behave more in Satoshi’s vision.

    Reply
    • Daxx10 says:
      8 years ago

      What? They’re rude?
      Why, they must be overreacting to a bunch of thieves who want to stamp the Bitcoin brand on their cloned altcoin to legitimise their corporate takeover attempt.
      Your Bcash lead developer can’t even copy the code without feeling the need to remove credits to the original developers.
      They do nothing but moan about what’s wrong with Bitcoin, so it sounds like you’d fit in very nicely over there. You won’t be appalled by anything they do because Roger Ver hasn’t written that part into the anti-CoreDev script he provides to all his toady trolls.

      (Well, you said we were rude, so I get to be rude at no further cost because of your rabid stereotyping opening line. I’m actually very polite to people who can avoid disrespect. You described yourself, perfectly.)

      Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Ethereum

Ethereum Price Will Still Climb Above $5,000 As Long As It Holds This Level

The Ethereum price has spent the past weeks stuck in a wide consolidation zone, testing bullish momentum as analysts anticipate...

Scott Matherson 6 hours ago
Chainlink

Chainlink Primed For Takeoff: Liquidity Sweep Strengthens Bullish Outlook

Chainlink (LINK) is building momentum as bullish signals begin to align, strengthening the case for an upcoming breakout. After sweeping...

Godspower Owie 8 hours ago
Bitcoin

Analyst Unveils 3-Month Prediction For Bitcoin, XRP, And Dogecoin – It’s Very Bullish

A pseudonymous crypto analyst, known as Borovik on X, has released a bold set of three-month predictions for some of...

Scott Matherson 9 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

circle-deploys-usdc-hyperliquid-next-wave-of-crypto-investment-tw

Circle選擇部署USDC穩定幣生態:以HyperLiquid為核心的加密投資浪潮

Peter Chow 2 hours ago
Bitcoin Cash

Bitcoin Cash (BCH) Plunges 6.7% As Social Media Shows Overhype

Keshav Verma 3 hours ago
Ethereum

Institutional Ethereum Staking On The Horizon As Grayscale Prepares Move — Details

Godspower Owie 5 hours ago

Premium Sponsors

Press Releases

  • ドージコイン 今後 の価格予測:ETF発足で新たな成長ステージへ

    ドージコイン 今後...

    14 hours ago
  • リップル 今後の価格予測:現物ETF効果で4ドル到達を狙うXRP

    リップル...

    14 hours ago
  • 仮想通貨プレセール:専門家が次の有望ミームコイン候補を予測

    ...

    14 hours ago
  • 仮想通貨おすすめ:次のブルランでシバイヌを超える成長候補の4トークン

    ...

    14 hours ago
  • 新しい仮想通貨トレーディングボット、エコシステム大型アップグレード前にICOで400万ドル突破目前

    ...

    15 hours ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.