Coinbase: Developments with Bitcoin Segwit2x
Got an e-mail alert from Coinbase regarding the developments with Bitcoin Segwit2x.
Snapshot from Coinbase e-mail
Bitcoin Segwit2x Update
There have been a number of developments with Bitcoin Segwit2x since our last update. No action is required and all funds stored on Coinbase remain safe.
Last week, the Segwit2x development team announced they would no longer continue with the project. In addition, a significant portion of miners and other community leaders withdrew their support for the fork. However, despite these developments, a small number of miners may attempt to go forward with a fork.
We wanted to provide clarity about the potential outcomes of the fork and what Coinbase will do in each scenario.
To protect customer funds, Coinbase will disable Bitcoin sends and receives at 2 am Pacific Time on November 17th, and disable buys and sells an hour before the fork, which is currently predicted to occur between 6am to 8am Pacific Time on November 17th. All functionality will be re-enabled shortly afterwards.
Scenario 1: Network is unusable
If support for the fork remains at current levels or decreases, the Bitcoin2x network will be unusable. Coinbase will not support withdrawals or trading as it will not be possible to move these assets. Currently we believe this is the most likely scenario.
If the network gains support at a later date, we will enable Bitcoin2x withdrawals from the platform.
Scenario 2: Network is usable
If transactions are being confirmed at a reasonable speed and miner support is strong, we will allow Coinbase customers to withdraw Bitcoin2x. We will not immediately enable buys and sells as previously stated, but we may enable them at a later date.
We will keep customers updated through our blog.
Thank you,
Coinbase Team
Do Your Own Due Diligence
Coinbase
I buy my Bitcoin, Ethereum, and Litecoin through Coinbase. For me, buying them through Coinbase is fast and convenient. Plus, you will get $10 in Bitcoin when you signup at Coinbase using this link and you buy $100 or more of crypto-currency.
Thank You!
Thank you!
informative
I wonder how many fork, and how many bitcoin will available in the future. I have no BTC at the moment, just too late to buy, and I don't have money to invest yet. I only have SP and SBD at the moment. hope there will be no fork coming that split the sbd into two other altcoin. 😃
I have used @blocktrades to convert STEEM and SBD into other cryptocurrencies using the Blocktrades website: https://blocktrades.us/
SteemIt has helped me to diversify into other cryptocurrences.
Have a great weekend!
Steem on,
Mike
have a great weekend also Mike. I might need more time on steemit to diversify my SBD into other crypto.
Cheers.
eka
coinbase good
looking good coinbase
My steem post thanks for update info plese upvote.
i didnt know some of the miners are planning to go ahead with the fork. got to read abt this tomo. upvoted and resteemed.
I did not know about this fork either until I read the CoinBase e-mail.
It has certainly been an interesting time in crypto's recently.
Have a great weekend!
Thank you for your support!
Steem on,
Mike
Great news bro
upvoted.... like it!!
I wonder how many fork, and how many bitcoin will available in the future. I have no BTC at the moment, just too late to buy, and I don't have money to invest yet thank you sir for coin knowlege
Nice job likee it!!