Plans for Segwit2X

Will you be supporting Segwit2x?

Provided Segwit2x has sufficient support of the mining community, BTC Markets will support it. For contentious forks like this we must remain neutral and let the market decide.

What is Bitcoin Segwit2x?

Segwit2x is a proposed upgrade to Bitcoin that increases the Bitcoin block size from 1 MB to 2 MB. The upgrade will take place around November 16th (Block #494,784). As the date draws nearer we will be able to provide a more accurate time.

Do I need to do anything?

Users do not need to do anything. You can safely leave your funds with us. At the time of the fork a snapshot of all Bitcoin balances will be taken.  This will provide us with the option to restore balances from both chains should the fork prove contentious.

Can I send my Bitcoin to BTC Markets?

Yes. If you plan on moving BTC into your BTC Markets account, we highly recommend that you do so at least 24 hours before the fork to ensure your transfers are confirmed.

When will you stop Bitcoin trading, deposits and withdrawals?

Roughly 12 hours before the fork (block 494,784) we will disable BTC (Bitcoin) deposits and withdrawals and halt all Bitcoin trading pairs.  (we will notify this on twitter and facebook).

If the fork is contentious what are your plans?

If it is unclear which chain is the preferred and dominant chain way may open up markets for B2X.  We may also need to suspend Bitcoin trading longer until the dominant chain is clear.

When will you resume Bitcoin trading?

When it is safe to do so approximately 24 hours after fork we will resume trading. If the fork is contentious we may need more time to observe and decide. We will provide a summary of the fork before we resume to avoid confusion.

When will you resume deposits and withdrawals?

Deposits and withdrawals will resume when it is safe to do so. We need to conduct testing and implement replay protection. Be careful when sending funds after the fork as certain wallets and bitcoin services may refer to the two blockchains differently.

Sincerely,

BTC Markets Team

 

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9 thoughts on “Plans for Segwit2X

  1. “Users do not need to do anything. You can safely leave your funds with us. If you own BTC at the time of the fork you will be credited with an equal amount of both. No action is required — we will automatically credit your account.”

    Why have you changed your minds on this? I moved bitcoin back into btcmarkets ready for the split…

    • Hi Matt, If the fork happens without contention there may not even be a split. If there is contention we will split the funds. It’s reworded to reflect the possible outcomes.

  2. Hi btcmarketsau team,

    Will the exchange be supporting the fork coming up on the 28th Dec if it does go ahead this time?

    Cheers
    Alex

  3. Hi yes I have posted the same question on your twitter, will you be supporting upcomming fork as no announcement by mtcmarkets to my knowledge has been made.

    thanks

  4. I have dwposited $100 on Thursday using BPAY as a trial run as im a new comer and im still waiting for the deposit to fall through to my account.. Any idea when it will happen? Just curious weather or not to deposit more or to wait.
    Thank you

  5. Hi tarek, all the guys and girls at btc market are probably on a well deserved break mate as they would of been in overdrive towards xmas and over the new year.. i would say it would be in by midday tomorrow tho. They do a great job a btc market and i hope you invest wisely, I have just signed myself and my investment in ripple has been great… I believe that will rise a bit more in the coming days.. but that is only my hopes.. lol… good luck in your investment mate.. I hope you make your own winning choices in this risky but rewarding new trend.. lol.. I just like it more because I hate bank too.. lol.. if you ask me, they all are crooks. They steal from the poor, they always have and always will… but then… cryptocurrancy… hehe.. stuff them.. rock on the future..and the future of this type of banking… Rusty 😁

  6. Is btc markets supporting the upcoming bitcoin interest (BCI) fork?

    The ratio is 1:1 how do i get access to BCI that i get for the BTC I hold on BTC markets?

  7. Hi, btcmarkets.wordpress.com team!
    My name is George Wilson and I’m representative of new p2p crypto exchange platform Tradebay (www.tradebay.com)
    We are close to starting our platform and looking for info partners.
    I would like to discuss possible cooperation with you.
    Thanks.
    Looking forward to your reply,

    George Wilson
    Business Developer
    Tradebay
    Telegram : @gwilso (https://t.me/gwilso)
    WhatsApp : +420 774387728

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