Bitcoin segwit2x november 17
There is also no replay protection present so Bittrex must undertake extra measures to ensure that in a chain split, user coins are preserved on both chains.
There may be delays in Bitcoin deposits and withdrawals for some time due to these extra measures. Bittrex will observe the Bitcoin network for a period of 24 to 48 hours to determine if a chain split has occurred and the outcome. In the event of a chain split, "BTC" will remain the existing Bitcoin chain with 1 MB blocks until the industry and ecosystem demonstrates a clear chain preference for Bitcoin. Bittrex will take all reasonable steps to ensure that customer funds can be preserved on both chains.
Bittrex will make all reasonable attempts to credit our users chain split tokens. We will not recover incorrectly made cross chain deposits under any circumstance due to the lack of replay protection. If you have a Bitcoin BTC balance on Bittrex during the Segwit2x hard fork block , occurring in mid-November, you will be additionally credited the equivalent amount of chain split tokens on a 1: BTC held on orders will also be credited.
Only the BTC held on your account is eligible for chain split tokens. This will be explained as you read on. If you are unaware of what Forks are, you may refer to this page. While we do not have proper figures on how much hashing power is forking out of Bitcoin, this Fork will occur at Block which is estimated to be around 10pm to 12am Singapore time , 17th November How long will withdrawals be stopped for?
Withdrawals should be halted for no longer than 24 hours. However, given the uncertainty we are presented with, this could vary. Why is this at such short notice? Coinhako sincerely apologizes for any inconvenience caused and strongly urge you to follow any relevant news bodies closely so that you do not miss a beat. As explained in our last update about Segwit2x, the update is highly contentious and the Bitcoin Community has been in debate about its implementation.
While we have been actively monitoring the situation, a final consensus to go ahead with the Fork was just reached earlier today, hence, the abrupt disruption in our services.
If you wish to have a gauge of how Coinhako has handled such stoppages previously, you can refer to this blog post. Will Coinhako be supporting the Segwit2x currency?
Our stance remains the same as with any other Forked currency.