Bitcoin Cash (BCH) fork timing

14 Nov 2018 10:10
Nicholas Fletcher, Customer Experience Officer

We would like to remind all customers that a BCH protocol upgrade is scheduled to occur in the early hours of Friday morning, Sydney time. Note – this does NOT relate to Bitcoin (XBT), it relates to the cryptocurrency Bitcoin cash.

As there are two competing proposals, a split in the BCH blockchain will likely occur.

BCH trading will remain available at Independent Reserve with no interruptions, however, we will pause BCH deposits and withdrawals at 9pm Sydney time, November 15. Please ensure that all your BCH deposits and withdrawals have been completed before this time.

BCH deposits and withdrawals will remain disabled until one of the competing blockchains wins majority support and general consensus in the BCH community and the blockchain is stable. We do not know how long that will take, so a long suspension is possible. Be assured that your BCH will remain safe during the fork.

Independent Reserve will exercise its own discretion in deciding which proposal’s chain to support after the fork and will do so with consideration to what is best for our customers whilst maintaining security of all client funds held within our wallets.

Customers who would like to have the option to claim coins on alternative forked chains should withdraw their BCH to their own wallet prior to 9pm Sydney time, November 15.

If none of this makes sense to you, we recommend you leave your BCH on the exchange until after everything has settled. Your funds will be safe.

Thank you for your support and understanding.