BTC Blockchain Fork Scheduled for August 1st (UAHF) Bitcoin

Posted:25.07.2017, 09:49

Dear Coinbase Customer,

We are contacting you to make you aware of recent developments in a number of proposals for technical changes to Bitcoin. All BTC stored on Coinbase will remain safe during these events described below.

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 BTC deposits, withdrawals, and buy/sell starting approximately 4 hours before activation of either fork.

If you do not wish to have access to UAHF coins, and do not wish to access your BTC during the fork, you are not required to take any action.
If you do wish to have access to UAHF coins or access your BTC during the fork, you should send your BTC from Coinbase to your external address by July 31.

For more information on these potential Bitcoin forks, please refer to this article:https://support.coinbase.com/customer/portal/articles/2844217-uahf-uasf-faq.

Thank you,

Coinbase Team

**Moderator**

Thanks for posting.

We got the email and I posted a response in another thread:

We are not Bitcoin experts. People who have a lot of money stored in Bitcoin should consider their options. Bitcoin has been rising dramatically in value over the last few months, but no one knows what will happen on August 1st. This is what cho says about the potential fork.

From cho: "As of Aug 1st it could cause the currency to crash nobody knows. It sounds like some body wants to make a major change to the algorithm of blockchain to increase its availability which would decrease its value. As a result coinbase and I'm assuming most other wallets are protesting that change to protect the value of bitcoin causing the currency to split into two. I think the split currency will be worthless while the original will likely retain value."

**Moderator**

debidug, Why did you delete the post? I was happy for it to have it's own thread, in fact I meant to post it in a stand alone thread but then your post covered it. We were talking about it in another spot where no one would have seen it. Can you add it back there?

**Moderator**

debidug, I added back the email from Coinbase, but I forgot what exactly you said so please add that back to the post. Also, I couldn't remember your title, which sounded better than mine, so feel free to add that back too.

Posted:25.07.2017, 12:11

Thanks for the info.

**Moderator**

If anyone is in a hurry to cash out some bitcoin money, you can buy gift cards with bitcoin from gyft.com

They sell gift cards from amazon, walmart, southwest airlines, and lots of other places.

Posted:26.07.2017, 16:51

Thank you for the info!

**Moderator**

**Moderator**

This is a new email from ....

Expired Link. Check out our Casino Bonus Forum for a list of current bonuses.

:

Dear Coinbase Customer,

We wanted to provide an update on proposed changes to the Bitcoin network and what that means for bitcoin stored on Coinbase. You can read more about what a digital currency fork is -https://blog.coinbase.com/what-is-a-bitcoin-fork-cba07fe73ef1.

Our first priority is the safety of customer funds. In the event of a fork, customer fiat currency (USD, EUR and GBP) and digital currencies (bitcoin, ether and litecoin) are safe.

On August 1st, 2017 there is a proposal to make changes to the bitcoin software. This proposal, known as Bitcoin Cash, is likely to create a fork in the Bitcoin network. This means that after August 1st, 2017 there are likely to be two versions of the Bitcoin blockchain and two separate digital currencies.

In the event of two separate blockchains after August 1, 2017 we will only support one version. We have no plans to support the Bitcoin Cash fork. We have made this decision because it is hard to predict how long the alternative version of bitcoin will survive and if Bitcoin Cash will have future market value.

This means if there are two separate digital currencies – bitcoin (BTC) and bitcoin cash (BCC) – customers with Bitcoin stored on Coinbase will only have access to the current version of bitcoin we support (BTC). Customers will not have access to, or be able to withdraw, bitcoin cash (BCC).

Customers who wish to access both bitcoin (BTC) and bitcoin cash (BCC) need to withdraw bitcoin stored on Coinbase before 11.59 pm PT July 31, 2017. If you do not wish to access bitcoin cash (BCC) then no action is required.

We plan to temporarily suspend bitcoin buy / sells, deposits and withdrawals on August 1, 2017 as the fork is likely to cause disruption to the bitcoin network. This means your funds will be safe but you will be unable to access your bitcoin (BTC) for a short period of time.

We will keep you updated on this event through our blog, status page and Twitter.

Thank you,

Coinbase Team

Posted:29.07.2017, 11:45

Coin base has been a nightmare to use. Long waits.

**Moderator**

The split seems to have gone well. Here is an article from the BBC if anyone is interested:

Bitcoin splits as new currency takes off
Full article: ....

Expired Link. Check out our Casino Bonus Forum for a list of current bonuses.

A new version of Bitcoin has been mined for the first time in the crypto-currency's history.

Bitcoin Cash is the result of months of debate and development over how the currency would continue to evolve.

Fears of large swings in the value of Bitcoin have so far not been realised - but some exchanges are still adapting to the new currency.

One expert said the process had gone smoothly so far and pointed out that trade in Bitcoin Cash seemed "robust".

Posted:02.08.2017, 08:42

I used bitcoins twice this morning. Went very smooth.

**Moderator**

Posted:02.08.2017, 16:04

Yeah, i was surprised. Nice change.

**Moderator**

Coinbase has updated their position on Bitcoin Cash. They are going to support it!

Dear Coinbase customer,

We wanted to give our customers an update on the recent Bitcoin hard fork. You can read more about what a digital currency fork is here:https://blog.coinbase.com/what-is-a-bitcoin-fork-cba07fe73ef1

Forks enable innovation and improvements to digital currency and we believe that we will see an increasing number of forks in the future. We expect this to be a vibrant and innovative community.

When a digital currency forks, it creates a new digital asset. Adding new digital assets to Coinbase must be approached with caution. Not every asset is immediately safe to add to Coinbase from a technical stability, security, or compliance point of view.

Our top priority is the safety of customer funds and we spend extensive time designing, building, testing and auditing our systems to ensure that the digital asset we support remains safe and secure. We may not always be first in adding an asset, but if we do, you can be sure that we’ve invested significant time and care into supporting it securely. We believe this is the best approach for us to maintain customer trust.

In the case of bitcoin cash, we made clear to our customers that we did not feel we could safely support it on the day it was launched. For customers who wanted immediate access to their bitcoin cash, we advised them to withdraw their bitcoin from the Coinbase platform. However, there are several points we want to make clear for our customers:

Both bitcoin and bitcoin cash remain safely stored on Coinbase.

Customers with balances of bitcoin at the time of the fork now have an equal quantity of bitcoin cash stored by Coinbase.

We operate by the general principle that our customers should benefit to the greatest extent possible from hard forks or other unexpected events.

Over the last several days, we’ve examined all of the relevant issues and have decided to work on adding support for bitcoin cash for Coinbase customers. We made this decision based on factors such as the security of the network, customer demand, trading volumes, and regulatory considerations.

We are planning to have support for bitcoin cash by January 1, 2018, assuming no additional risks emerge during that time.

Once supported, customers will be able to withdraw bitcoin cash. We'll make a determination at a later date about adding trading support. In the meantime, customer bitcoin cash will remain safely stored on Coinbase.

Thank you,

Coinbase Team