User Activated Hard Fork (UAHF) scheduled to activate on August 1.

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Last post made 7 years ago by herlis
jade
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  • Received this update from Coinbase 
     
    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 
    Check out our Status Page and Twitter for the latest updates from Coinbase.

    Hope this is helpful,

    jade 

  • I went to Coinbase today and purchased some Bitcoin to send to the casino.

    When I went to send my bitcoin,

    there was a warning posted  

    There are numerous people moving bitcoin at this time which is causing excessive delays.

    in moving bitcoin through the blockchain (i hope i'm sayin that right).

    Well, I did send the casino deposit anyway and it did take longer than it normally would.

    It took a little over an hour for the casino to receive it, but due to everything that is going on in the blockchain,  (again, i hope i'm sayin that right) I thought the time frame wasn't too bad.

    hope this is helpful to someone..........

    jade

  • gonna be interesting to see what exaclty is to happen on the 1st!

  • Are there any worst impacts and effects that may occur to the bitcoin user community that usually use bitcoin at casino?

  • This also happened at coins.ph and said  -

    We would like to provide an update to Coins.ph customers regarding Bitcoin Cash (BCC). Prior to the recent Bitcoin network fork, we informed our customers that we had no plans to support BCC, and anyone wishing to receive BCC needed to move their BTC out of their Coins.ph wallet ahead of the fork.

    Given the results of the BCC fork and the financial value it now represents, we are now exploring several different approaches for handling the forked BCC value.  As of now, we are evaluating two primary possibilities:

    1.Adding BCC support and crediting customers wallets in BCC according to the amount of BTC held in the wallet at the time of block 478,558  (August 1 9:16 pm Philippines time, the time the fork occurred).
    2.Converting BCC created during the fork to BTC, and crediting the respective customer accounts based on the corresponding amount of BTC held at the time of the fork (net of any costs we incur for the conversion and transfer).

    We expect to complete our technical feasibility review within the next 30 days. This timeline will allow us to conduct a thorough technical and security evaluation of handling BCC as a currency. Once a final decision on a course of action has been reached we will provide an update.

    We remain committed to looking after the best interests of our customers, and appreciate your patience as we ensure that we take the responsible, secure route for handling your funds.

     

    Best,

    The Coins.ph Team

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