Coinfloor, the well-regarded bitcoin exchange based out of London has announced today their policy with respect to a possible hard fork on the Bitcoin network. From August 1st, there is a definite possibility that two incompatible versions of Bitcoin will emerge:
- Bitcoin (aka. Bitcoin SegWit2x, SegWit, UASF, Core, etc.) will remain in consensus with the currently active Bitcoin network consensus rules.
- Bitcoin Cash (aka. Bitcoin ABC, Bitcoin Cash, UAHF, etc) will not be in consensus with the currently active Bitcoin network consensus rules.
A number of Coinfloor clients have asked the company if it will support Bitcoin Cash if it gains significant traction and what will happen to deposits, withdrawals, and trading of bitcoin after August 1st.
To clarify this, Coinfloor says they will be doing the following:
- Coinfloor will continue to allow deposits, withdrawals, and trading of bitcoin. From 4 pm BST on July 31st, Coinfloor will temporarily move to make bitcoin withdrawals from cold storage only. This means that withdrawals will happen 1 – 2 times each working day.
- If in the period after August 1st, Bitcoin Cash gains significant traction, Coinfllor will enable deposits, withdrawals, and trading of Bitcoin Cash coins. Conversely, if in the company’s view Bitcoin Cash does not gain significant traction, it will not support it.
