Coinbase Statement on Bitcoin GoldsteemCreated with Sketch.

in bitcoin •  7 years ago  (edited)

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When will this fork occur?

The fork has already privately occurred at a point known only to the Bitcoin Gold development team. The Bitcoin Gold blockchain will be made publicly available when the Bitcoin blockchain reaches block number 491,407, which is currently estimated to occur on October 25, 2017.

Is Coinbase going to support Bitcoin Gold?

We operate by the principle that our customers should benefit to the greatest extent possible from hard forks or other unexpected events. However, safety and security are also important considerations for any asset supported by Coinbase.

At this time, Coinbase cannot support Bitcoin Gold because its developers have not made the code available to the public for review. This is a major security risk.

Coinbase's current priority is to add support for Segwit2x, followed by Bitcoin Cash. We will continue to monitor the development of Bitcoin Gold, and if its network proves to be both secure and valuable, Coinbase may decide to support it at a later date.

Coinbase/GDAX will not sell or keep Bitcoin Gold associated with customer Bitcoin for itself. Any Bitcoin Gold will remain securely stored on Coinbase. If Coinbase were to enable support for Bitcoin Gold at a future date, customers would be able to withdraw Bitcoin Gold associated with their Coinbase/GDAX Bitcoin balances at the time of the Bitcoin Gold fork.

What actions do I need to take?

No customer action is required. Your existing Bitcoin funds remain safe. We will continue to monitor the development of Bitcoin Gold, and if its network proves to be both secure and valuable, Coinbase may decide to support it at a later date. At that point your account would be credited with an appropriate amount of Bitcoin Gold.

Will there be any disruption to Coinbase/GDAX?

No. We do not anticipate any disruption and plan to have Coinbase/GDAX operating as normal. Please refer to our status page for live updates.

How will this affect the Bitcoin network?

We do not expect any impact on the Bitcoin network or delays with sends and receives at this time.

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