Email from Coinbase Re: segwit2x

Just wanted to share this email from coinbase:

Dear Coinbase customer,

There have been a number of developments with Bitcoin Segwit2x since our last update. No action is required and all funds stored on Coinbase remain safe.

Last week, the Segwit2x development team announced they would no longer continue with the project. In addition, a significant portion of miners and other community leaders withdrew their support for the fork. However, despite these developments, a small number of miners may attempt to go forward with a fork.

We wanted to provide clarity about the potential outcomes of the fork and what Coinbase will do in each scenario.

To protect customer funds, Coinbase will disable Bitcoin sends and receives at 2 am Pacific Time on November 17th, and disable buys and sells an hour before the fork, which is currently predicted to occur between 6am to 8am Pacific Time on November 17th. All functionality will be re-enabled shortly afterwards.

Scenario 1: Network is unusable
If support for the fork remains at current levels or decreases, the Bitcoin2x network will be unusable. Coinbase will not support withdrawals or trading as it will not be possible to move these assets. Currently we believe this is the most likely scenario.

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

Scenario 2: Network is usable
If transactions are being confirmed at a reasonable speed and miner support is strong, we will allow Coinbase customers to withdraw Bitcoin2x. We will not immediately enable buys and sells as previously stated, but we may enable them at a later date.

We will keep customers updated through our blog.

Thank you,

Coinbase Team

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Apparently, it didn’t get fully tested because they pulled the plug, and the idiots that went forward with it exposed a bug, and you know who (the Core trolls) are milking that for all it’s worth. They’ve even created a bunch of new conspiracy theories about how it’s on purpose, and supposed to be in league with Bitcoin Cash. These people have gone apeshit.

As someone who WRITES software, I can assure you they stopped testing the minute they called it off, and probably well before that, as the announcement came after they decided not to proceed.

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It’s difficult to admit that you could have been manipulated by certain financial interests.

The future may bring interesting revelations.

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