diff --git a/electrum-env b/electrum-env
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+++ b/electrum-env
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+#!/bin/bash
+#
+# This script creates a virtualenv named 'env' and installs all
+# python dependencies before activating the env and running Electrum.
+# If 'env' already exists, it is activated and Electrum is started
+# without any installations. Additionally, the PYTHONPATH environment
+# variable is set properly before running Electrum.
+#
+# python-qt and its dependencies will still need to be installed with
+# your package manager.
+
+if [ -e ./env/bin/activate ]; then
+	source ./env/bin/activate
+else
+	virtualenv env
+	source ./env/bin/activate
+	pip install slowaes 'ecdsa>=0.9' pbkdf2 requests pyasn1 pyasn1-modules qrcode SocksiPy-branch protobuf tlslite
+fi
+
+export PYTHONPATH=/usr/local/lib/python2.7/site-packages:$PYTHONPATH
+
+./electrum
+
+deactivate