Coinbase updates SEGwit2x fork

Coinbase has just announced that it updates the Bitcoin fork, also giving way to B2X. They will be a few hours in pause, monitoring the network to see that the resulting chain is secure.

How is another bifurcation possible if a few days ago it was suspended?

Some miners continue to support SeGWit2X

Although the majority of miners suspended their support to Segwit2x, there is still a small group that will try to continue with the bifurcation. Last week, the Segwit2x development team announced that they would no longer continue with the project, and a significant portion of the miners and other community leaders withdrew their support for the bifurcation. Coinbase wants to provide clarity about the possible results of the bifurcation and what will happen in each scenario.

Coinbase disabled Bitcoin shipments and receipts at 10 AM (GMT +1) on November 17, and disabled purchases and sales one hour before the fork, between 2:00 PM and 4:00 PM, ( GMT +1), approximately. All functionality was re-enabled soon after.

Coinbase 1st scenario: the network cannot be used

If the support for the fork remains at current levels, or decreases, the Bitcoin2x network will be unusable. Coinbase will not accept withdrawals or transactions since it will not be possible to move these assets. They currently believe that this is the most likely scenario.

If the secondary network B2X decreases, it will be unusable, it will be most likely.

If the network wins support at a later date, we will enable Bitcoin2x withdrawals from the platform.

Coinbase Scenario 2: the network is usable

If transactions are confirmed at a reasonable speed and the assistance of miners is solid, they will allow Coinbase customers to withdraw Bitcoin2x. They will not immediately enable purchases and sales as indicated above but may enable them at a later date.

They operate on the principle that their clients should benefit as much as possible. Hard bifurcations or other unexpected events are analyzed and served to clients. They have invested significant resources to ensure that they can prepare for each scenario.

If there is a stable and functional network, they will give them access to the clients and the Bitcoin2x funds.

It is very interesting to know that Coinbase is up to date with everything that happens with the crypto monetary community. It is a great effort to master and handle so much information in such a short time.

Coinbase demonstrates again being able to be updated in time for its customers. Trust in the first and greatest bridge between people with fiat money and Bitcoin, continues to rise.

Coinbase is the most popular place in the world to buy and sell bitcoins, ethereums and litecoins. In January 2018 they also provide support for Bitcoin Cash.

The next year 2018, it comes loaded with surprises for Bitcoin and other cryptocurrencies. Above all, of bifurcations …