Segwit2X and Bitcoin Cash Update
Last week, the Segwit2x team announced they would no longer support the project, but a small number of miners may attempt to fork Bitcoin anyway.
To protect customer funds, Vaultoro will disable Bitcoin sends and receives at 10 am CET on November 17th. The fork is currently predicted to occur between 3pm to 5pm CET November 17th.
We will re-enable all functionality when the fork is over and funds can be transferred securely.
We use the downtime of the system to make Bitcoin Cash withdrawals available. If everything works as predicted Bitcoin Cash withdrawals should be available within the next 24 hours.
Keep your eye on the blog for updates.
But Vaultoro, why did it take so long with the Bitcoin Cash?
The functionality to withdraw Bitcoin Cash from our platform has been developed for a while now, but we had difficulties to access Bitcoin Cash in our different wallets. To keep our users funds safe, we store all Bitcoin in different wallets, some from different developers. While some of these wallet developers provided us quickly with a solution to split Bitcoin and access Bitcoin Cash, other wallets had problems to integrate a proper solution, especially the multi-signature wallets we use.
A fork of Bitcoin or any coin comes with challenges, especially for the users do not know much about the technology. Any hard fork in the future should have always users funds safety in mind. Also forked coins can be forked again and so on (See Bitcoin Cash hard fork from the 13th of November for example).