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Wednesday, November 1, 2017

Coinbase/GDAX issue statement regarding the Bitcoin Segwit2x hard fork...


Today coinbase/GDAX released the following update regarding the Bitcoin Segwit2x hard fork:

We wanted to remind you that the upcoming Bitcoin Segwit2x hard fork is projected to take place on November 16 and will result in two bitcoin blockchains.

Following the fork:

- GDAX will continue referring to the current bitcoin blockchain as Bitcoin with ticker BTC and the forked blockchain as Bitcoin2x with ticker B2X.

- GDAX will disable deposits and withdrawals for Bitcoin (BTC) approximately 24 hours before the fork and re-enable 24-48 hours after the fork for both Bitcoin (BTC) and Bitcoin2x (B2X).

- GDAX will enable trading of both BTC and B2X within 4 hours of the fork.

- Any customer storing Bitcoin (BTC) on GDAX at the time of the fork will be credited with an equal amount of the Bitcoin2x (B2X) asset on the Bitcoin2x blockchain.

If the Bitcoin2x blockchain becomes the chain with the most accumulated difficulty, and the chains are in a stable state, we will consider renaming it to Bitcoin and send an additional communication at that time. We will consider other factors such as market cap, community support, etc to determine stability. We will start evaluating this 2 weeks after the fork.

Further updates will be posted on their blog.