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Coinbase will not support the forked Bitcoin on August 1st

Discussion in 'CryptoCurrency' started by bartosimpsonio, Jul 19, 2017.

  1. bartosimpsonio

    bartosimpsonio Jr. VIP Jr. VIP Premium Member

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    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.
     
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  2. Dagreyon

    Dagreyon Jr. VIP Jr. VIP

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    I thought I read the fork wasn't happening and thats why the price rebounded?
     
  3. hero76

    hero76 Power Member

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    Things change every minute! Screw you coinbase, withdrawing all my money!
     
  4. Panther28

    Panther28 Jr. VIP Jr. VIP

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

    HoNeYBiRD Jr. VIP Jr. VIP

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  6. Dagreyon

    Dagreyon Jr. VIP Jr. VIP

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    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.
     
  7. itz_styx

    itz_styx Jr. VIP Jr. VIP

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    who uses coinbase anyways..
     
  8. mazar

    mazar Regular Member

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    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
     
  9. itz_styx

    itz_styx Jr. VIP Jr. VIP

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    john mcafee is betting on twitter rightnow that BTC will rise to $500k in 3 years :D
     
  10. mazar

    mazar Regular Member

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

    itz_styx Jr. VIP Jr. VIP

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  12. AlumniAce

    AlumniAce Regular Member

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    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
     
  13. itz_styx

    itz_styx Jr. VIP Jr. VIP

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    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 ;)
     
  14. SEO

    SEO Jr. VIP Jr. VIP

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  15. mnunes532

    mnunes532 Supreme Member

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

    bartosimpsonio Jr. VIP Jr. VIP Premium Member

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    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.
     
  17. Reni

    Reni Junior Member

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    What is happening now??What should if i want to withdraw my btc before 1 August? Anyone can help me?
     
  18. tb303

    tb303 Power Member

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

    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 ).
     
  19. honestIM

    honestIM Regular Member

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    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.
     
  20. JV1999

    JV1999 Jr. VIP Jr. VIP

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    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 :D. 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.