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Added On: 08/11/2017
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Bitcoin Segwit2x Fork

On Bitcoin block #494784 there is a set to be a hardfork called "Segwit2x". It appears that this hardfork will be contentious and both chains will be competing to be considered Bitcoin.

In order to safely protect our customer funds we will be locking Bitcoin deposits and withdrawals upto 24 hours prior to the hardfork.

After the hardfork has happened we will wait and watch to determine which chain should be considered Bitcoin.

Possible Senarios:

1) Segwit2X wins

In this case the miners support the Segwit2X chain and the old Bitcoin blockchain would become unuseably slow. The new Segwit2X chain would continue at a normal speed and we will re-open withdrawals and deposits and our customers would now have upgraded Segwit2x bitcoins only.

2) Original Bitcoin wins

In this case the miners do not support Segwit2X chain and the fork either does not happen, or happens and is immediately slower and behind the original blockchain. We will then re-open withdrawals and deposits and our customers would have original bitcoins from the 1MB blockchain only.

3) Both chains survive

If original Bitcoin gets enough mining power then it can continue to operate at a reasonable speed and both chains survive in a usable condition. In this case we must update our system to support both coins and handle replay protection. This may delay withdrawals and deposits by up to 1 week. Users would be credited with both coins at the exact time we make the announcement that this senario has happened (not at the fork date, as trading may have happened since)

4) Original Bitcoin forks to survive

If senario #1 appears to have happened and Segwit2X upgrade has won, the original Bitcoin may attempt to make another hardfork in order to survive. We do not support this; and users will only receive Bitcoins on the upgraded Segwit2X blockchain, and will not receive any hardforked original bitcoins

If customers would like to choose their own chain they should withdraw their bitcoins at least 48 hours prior to the fork and hold them in their own independent wallet.