How will this affect our Wallet and Exchange, and what changes will there be? As a precaution, we will halt all sends, deposits and withdrawals of BCH on November 14th until the network appears stable.
Bitcoin Cash Has Split Into Two New Blockchains, Again - CoinDesk
Additionally, upon resuming transaction support, we may increase the number of network confirmations required for deposits to process. Trading within the exchange and trading wallet will be halted.
Swap, deposits and withdrawals between the exchange and the trading wallet will experience temporary delays. What if I am holding BCH? Do customers need to act? What happens if I don't take action?
Huobi Global Will Support The Planned Hard Fork OF BCH (Bitcoin Cash)
For those who hold Bitcoin through Coinbase approximately 24 hours pre-fork, Coinbase will temporarily disable all bitcoin buy, sells, sends and receives. Popular cryptocurrency exchanges such as Bitfinex, Bitfinex and Coinbase have stated that they will list the original bitcoin blockchain as "BTC" subsequent to the SegWit2x hard fork in November.
A number of other wallet platforms and exchanges such as Xapo and Blockchain have revealed that they will list bitcoin as "BC1" and publicly list SegWit2x as "BTC," if the SegWit2x blockchain becomes the majority chain.
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Nothing in life is free and the tax man is going to want a cut. Just like the BCH split, Bitcoin gold is going to result in immediate taxable income.
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How you report that to the IRS is a discussion you will want to have with your accountant. But it's not necessarily smooth sailing going forward with an abundance of gains for crypto investors.
The Crypto News
Hard forks are nuanced beasts. More of What's Trending on TheStreet :. Receive full access to our market insights, commentary, newsletters, breaking news alerts, and more. I agree to TheMaven's Terms and Policy. Corey Goldman.