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Bitcoin to shut down temporary starting Aug 31

kinglewy

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Sep 3, 2011
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I got an email from coinbase my bitcoin wallet that starting Aug 31 bitcoin will be suspended due to software updates or something. Wont be able to buy or sell or withdrawal bitcoin money for a little bit.

Anyone else get this email?
 

warriorman15

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I did as well, but my email says Aug 1st

"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."


Sent from my iPhone using Tapatalk
 

kinglewy

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yeah Aug 1st I mean
 

cubano

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Googled Bitcoin fork and now I'm even more confused just when I was starting to get the hang of it :banghead:
 

mnewman

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Googled Bitcoin fork and now I'm even more confused just when I was starting to get the hang of it :banghead:
It means it is going to split. If you have 1000 shares after the fork you could have 2000 shares
 

FrancisK

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It means it is going to split. If you have 1000 shares after the fork you could have 2000 shares
Yea i think you missed another key piece of info there...
 

ok303

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to shed some clarity on this topic, a group of miners have a different vision on scaling bitcoin and the issues that come along with it.

so, they developed some code that is 500 or so lines different from the original bitcoin, BTC. they're modified version is called "Bitcoin Cash" or BCC.

say if you own 1 bitcoin, on august 1st after possible fork, you will have 1 BTC and 1 BCC
 

Elvia1023

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I got an email from coinbase my bitcoin wallet that starting Aug 31 bitcoin will be suspended due to software updates or something. Wont be able to buy or sell or withdrawal bitcoin money for a little bit.

Anyone else get this email?
It's important to note that Coinbase in that email stated they won't be offering the new version BCC. They stated it's too unpredictable at this current time and they don't know if it will last so they will carry on just offering the original BTC. You won't be able to store your BTC in your coinbase account either. This is all alien to me but I received that email.
 

Matsuo Munefusa

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It's important to note that Coinbase in that email stated they won't be offering the new version BCC. They stated it's too unpredictable at this current time and they don't know if it will last so they will carry on just offering the original BTC. You won't be able to store your BTC in your coinbase account either. This is all alien to me but I received that email.
If you have a substantial amount of BTC on coinbase then you could move it to a wallet (like electrum) and you will receive your Bitcoin Cash when the fork happens. If you keep your bitcoin on coinbase/GDAX during the fork you will not receive your bitcoin cash. So people are transporting their bitcoin off exchanges that do not support bitcoin cash in anticipation of the fork.

If you don't care about bitcoin cash you can still keep your bitcoin on coinbase, no problem (you just won't have access to it temporarily August 1 while they freeze transactions because of instability on the network).
 

xpac2

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This kind of volatility is why Im still not sold on bitcoin being cash. Still needs some kind of a shared standard.
 

tren_plz

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Wheres the best place to move btc if you keep a good amount at coinbase?
 

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