FYI: Coinbase Update On Upcoming Bitcoin Forks: Segwit2x & Bitcoin Gold
We wanted to give you an update on two upcoming Bitcoin forks—Bitcoin Segwit2x and Bitcoin Gold. You can read more about what a digital currency fork is here and see our prior update here.
We operate by the principle that our customers should benefit to the greatest extent possible from hard forks or other unexpected events. This is essential in our mission to make Coinbase the most trusted, safe, and easy-to-use digital currency exchange.
Bitcoin Segwit2x
The Bitcoin Segwit2x fork is projected to take place on November 16th and will result in two bitcoin blockchains. Following the fork, Coinbase will continue referring to the current bitcoin blockchain as Bitcoin and the forked blockchain as Bitcoin2x.
Any customer with a Bitcoin balance on Coinbase at the time of the fork will be credited with an equal amount of the Bitcoin2x asset on the Bitcoin2x blockchain. No action is required—we will automatically credit your account. So, if you have 5 Bitcoin stored on Coinbase before the fork; you will have 5 Bitcoin and 5 Bitcoin2x following the event.
For more information about Bitcoin2x please see our FAQ page and our blog post for a detailed timeline of events.
Bitcoin Gold
The Bitcoin Gold fork occurred on October 23rd. Information about this fork has been limited and there are concerns about its security and stability. As a result, we do not believe it is safe to allow support for Bitcoin Gold at this time. If the blockchain proves to be secure and valuable, Coinbase may choose to support it.
For more information about Bitcoin Gold please see our FAQ page.
Over the coming weeks, we will keep you updated on this event through our blog, status page and twitter.
Thank you,
Coinbase Team
Just thought I'd share the good news. Looks like they are getting ahead of it this time and are going to fully support the FORK.
I'm glad they don't support such shady attempts to overthrow bitcoin honestly like bitcoin gold for instance so many places did not support it and for good reason. Them supporting segwit2x though really makes you think this is going to be some serious change.
THANK YOU
Hi blueorgy
I have upvoted your above post
But I want to reseem it but there is no resteem icon ?
on your post or you homepage
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Hey Blueorgy, your website Steemimg isn't working - when I click Start Uploading, nothing happens :(
Has anyone heard any information on Bittrex is going to do about 2x? I could care less about gold.
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@mayabegum
Coinbase is as indecisive as ever.
For BTCGold yes but this was expected, hopefully most moved their BTC out and into a paper wallet.
i send you 1 sbd on steemit chat please give back to me its not open
@blueorgy Hi there just used your cool webapp which is aptly named steem.cool I liked it a lot thanks for making the tool. Upvoted your post as appreciation for the app you made. I will also follow you. Thank again and see you around in steemit.