Coinbase will not support the forked Bitcoin on August 1st

[bartosimpsonio]

Dear Coinbase Customer,

The User Activated Hard Fork (UAHF) is a proposal to increase the Bitcoin block size scheduled to activate on August 1. The UAHF is incompatible with the current Bitcoin ruleset and will create a separate blockchain. Should UAHF activate on August 1, Coinbase will not support the new blockchain or its associated coin.

The User Activated Soft Fork (UASF) is a proposal to adopt Segregated Witness on the Bitcoin blockchain and could result in network instability. It is scheduled to activate at the same time as the UAHF.

To ensure the safety of customers’ funds, we will temporarily suspend bitcoin deposits, withdrawals, and buy/sell starting approximately 4 hours before activation of either fork.

• If you currently have bitcoin in your Coinbase account, and do not wish to have access to UAHF coins or have immediate access to your bitcoin, you are not required to take any action.
• If you wish to have access to UAHF coins or you wish to have immediate access to your bitcoin, you should send your bitcoin from Coinbase to your external address by July 31.

For more information on how to send bitcoin from your Coinbase account, please refer to this article: https://support.coinbase.com/customer/portal/articles/971437.

Thank you,

Coinbase Team
Check out our Status Page and Twitter for the latest updates from Coinbase.

 

[GainRank]

I thought I read the fork wasn't happening and thats why the price rebounded?

 

[hero76]

Things change every minute! Screw you coinbase, withdrawing all my money!

 

[Panther28]

coinbase will buckle to the demand, once the new coin takes off.

 

[HoNeYBiRD]

What the fork. This will make a few people unhappy.

 

[GainRank]

Side note, coinbase is the absolute biggest joke. I created a ticket 2 months ago and still have not received a reply.... I took all my money out of there, I would not trust them.

 

[itz_styx]

who uses coinbase anyways..

 

[mazar]

it will be a soft fork and segwit will activate killing off litecoin . but all exchanges will freeze deposits and withdrawals i should think so they cant blamed for any lost coins

 

[itz_styx]

john mcafee is betting on twitter rightnow that BTC will rise to $500k in 3 years

 

[mazar]

i saw it , he must be holding some bag of bitcoin . makes you wander where the ransomware came from ?

 

[itz_styx]

you mean wannacry? coleteral damage from the NSA leak.. you know before the outbreak someone was smart enough to install miners instead https://nakedsecurity.sophos.com/20...shes-in-on-nsa-exploit-that-enabled-wannacry/

 

[AlumniAce]

john mcafee is betting on twitter rightnow that BTC will rise to $500k in 3 years

well then he is retarded... that would mean that bitcoin will have a market cap of over 8 trillion dollars lol where can I bet against him? I believe it will be somewhere around 10k-20k within 3 years

 

[itz_styx]

go to his twitter account he's throwing around big words and wants to bet with everyone even with escrow/lawyer/contract, so go ahead

 

[SEO]

go to his twitter account he's throwing around big words and wants to bet with everyone even with escrow/lawyer/contract, so go ahead

John's been mining Bitcoin for a while now. I read that he had a bunch of servers squirreled away in mountains somewhere.

https://www.cryptocoinsnews.com/john-mcafees-investment-company-to-start-mining-ethereum/

 

[mnunes532]

I have some bitcoin on coinbase, where should I send it?

 

[bartosimpsonio]

I have some bitcoin on coinbase, where should I send it?

I don't know. If you keep it on the official bitcoin wallet on your PC, will it disappear on Aug 1st?

This sounds like a major clusterfuck.

 

[ReneBHW]

What is happening now??What should if i want to withdraw my btc before 1 August? Anyone can help me?

 

[tb303]

I have some bitcoin on coinbase, where should I send it?

Send to a paper wallet. That way incase of an unlikely fork you can choose which blockchain to continue with.

I don't know. If you keep it on the official bitcoin wallet on your PC, will it disappear on Aug 1st?

This sounds like a major clusterfuck.

With a wallet on your pc. It will be stuck until you upgrade your wallet software. Then you will be on which ever chain that wallet is supporting.

The important thing is you should avoid making transactions during that time though as those could well vanish (or may even be open to a replay attack or even a new bug)

BIP91 signalling has been over 80% so we will get segwit barring any major problems now. BIP91 does not mean there will be a hard fork it just lowers the threshold for Segwit activation from 95% to 80%. If there is a hard fork down the line from there it will be a separate issue and will need consensus to activate. Basically its back to the bitcoin unlimited debate from few months ago but as BU is proven buggy it will most likely be a new proposal ).

 

[honestIM]

Seems like buy opportunity when the confusion is in the market. The underlying demand for BTC is still intact. Black market is still using it to transact everyday.

 

[JV1999]

Sounds a lot like coinbase is scaring jihan and anyone else who plans to thwart the soft fork.

They're saying htat DGAX and Coinbase, two huge exchanges, aren't going to support the hard fork, and that they'll support the soft fork.

LOL CRYPTO POLITICS.

IMHO this is more fun than irl politics. U get these whack jobs trying to thwart segwit by turning signaling off . And it's so cool cuz it's all legal while the drama is all over there. Loving it! Like an underground world of politics that isn't pointless like in RP videogames.