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Segwit2x Announcment

You may be aware of a number of recent proposals for technical changes to the Bitcoin network. All BTC stored with CoinCorner will remain safe during the potential events below.

We are aware that the key supporters for Segwit2x have now abandoned their intentions to go ahead with the hard fork, meaning the Segwit2x Hard Fork is very unlikely to go ahead.  However we are also aware of certain rumours that a small minority of miners under the alias 'BitPico' may still be looking to continue with the fork. We believe this will not amount to anything of significance, but want to approach the situation with caution. We will continue to monitor the situation over the coming days, but if a fork does look likely to happen regardless of size we may take the below approach

The proposed contentious hard fork is scheduled for 16th November 2017 at Block 494784. If this goes ahead it will likely create a separate blockchain and coin, currently being referred to as B2X. CoinCorner will not support the new blockchain or its associated coin.

Customer funds held with CoinCorner will be kept safe when the above events happen, however to ensure that funds stay safe, CoinCorner may temporarily disable some functionality 24 hours beforehand, and during the period where the activation is due to happen, until the situation becomes more clear. This means that customers will be unable to buy, sell, deposit or withdraw Bitcoin until we are comfortable (we hope this will take no longer than 24-48 hours, but it may take longer).

If you do not want to have access to any new coins that are a result of the fork, or do not need to access your coins during the fork, then no action is required.

If you would like access to any new coins that are a result of the fork, or would like to access your coins during the downtime, you will need to transfer your coins from your CoinCorner wallet to an external wallet before 14th November 2017.

If B2X goes ahead and becomes worth a significant value, CoinCorner will endeavor to make sure our customers benefit to the fullest extent. The method of how will be determined by ourselves in the following months of the hard fork.

CoinCorner on Segwit2x

Segwit2x is a Bitcoin upgrade proposal created behind closed doors by a group of companies within the industry, this was known as the NYA (New York Agreement). CoinCorner was never part of this agreement or meeting.

After monitoring the industry, community feedback and development on Segwit2x's github repository the last few months, we do not believe there is sufficient support for this contentious upgrade, this has been further reinforced by the recent announcement by key parties not to proceed.

*This date may potentially change due to the speed of blocks on the network, so please give plenty of time to remove any Bitcoins should you wish to.

Many thanks,