Segwit2x Opt-In Replay Protection - Potential Problems
Great article by Jimmy Song on Segwit2x Opt-In Replay Protection: https://t.co/p9Y2YxfC8m
In summary it's a two step process to avoid transactions being replayed on the alternate chain:
Post fork,
i ) move your btc to a new address (or address)
ii) in the same direction send a small amount of btc to the address referred to in the article (3Bit...)
So here are some questions that quickly spring to mind, feel free to answer:
Apparently the private key is known for this address...so what does that mean?
based on above, even if small amount are sent then given massive volumes there will eventually be significant money in that address - will ppl try and get it? Will there be bots running to gain access or shift funds away?
to carry out the opt in steps you need to be able to send to multiple addresses in one transaction. What if your wallet doesn't have that? Are the funds then stuck until that option is implemented. Or will the user need to export/recover private keys to a client that does have that functionality?
how manual is the process? The more manual it is the more chance mistakes can happen, eg sending to wrong address or sending way too much to the 3Bit...add
Anyway that's all that comes to mind for now, appreciate any feedback.