Bitcoin ABC / SV
|Expiry date||15 Nov, 2018|
|Published date||November 12, 2018|
Fork starts 2018-11-15
There is a conflict between Bitcoin Cash (BCH) development communities which may result in a chain split as no consensus will be reached. We gathered a lot of information around this event and will try to explain it as objective as possible.
The most represented narrative is that Bitcoin Cash will be undergoing a network protocol upgrade/fork on November 15, 2018 at approximately 8:40am PT (4:40pm UTC) via the Bitcoin ABC full node implementation. Bitcoin SV (BSV) is a proposed fork of Bitcoin Cash scheduled to also occur on November 15, 2018 at approximately 8:40am PT (4:40pm UTC) via the Bitcoin SV full node implementation. Bitcoin SV is considered a “contentious” hard fork which may result in a chain split with two competing networks. Therefore users holding BCH prior to the hardfork could end up with coins on both sides of the split.
The hard fork will exactly occur when the median time past of the most recent 11 blocks (MTP-11) is greater than or equal to UNIX timestamp 1542300000. Although Coinmarketcap already listed futures for BCHABC and BCHSV trading pairs it is not clear if any of both forks will be listed with the previously used ticker BCH or with new ones, because it is not clear which one will turn out to be the most dominant chain.
For further information about the fork, please refer to the official Bitcoin Cash Github announcement.
How to claim with a local wallet like Electron Cash:
- Hold your BCH in a local wallet where you control private keys during the time of the fork.
- We recommend Electron Cash, because you will be able to easily switch between ABC and SV node implementations if a chain split occurs.
- IMPORTANT: There is no replay protection between the two competing networks. This means that if you send a transaction on either the BCH or BSV network, your coins may (or may not) also move on the other network.
- To be safe you should use a coinsplitting tool which is also explained here.
- It is advised to proceed cautiously after the fork date to make sure the network is running smoothly, with extra confirmations allowed. It is also advised to use small amounts at first and make sure you’re on the right network.
- You can also use Electron Cash with common hardware wallets like Trezor or Ledger.
- For more information, please refer to the official Electron Cash hard fork announcement.
How to claim with Trezor hardware wallet:
- Trezor wallet servers will follow the Bitcoin ABC chain and you will not be credited any Bitcoin SV coins if a chain split occurs.
- Trezor will not provide a claiming tool for safe coin-splitting between chains. If a different chain emerges, you will automatically have coins available on all chains after the hard fork (not replay-protected).
- If a different chain (than Bitcoin ABC) becomes dominant, Trezor will evaluate switching to the most dominant chain.
- You can also use Trezor with Electron Cash third party wallet to access both chains in case of a split.
- For more information, please refer to the official announcement in the Trezor blog.
How to claim with Ledger hardware wallet:
- Ledger will suspend the Bitcoin Cash service until it is clear which of these chains will be the stable one, both technically and economically.
- If one of these chains would be the dominant chain, Ledger will evaluate to support it again then.
- You can also use Ledger with Electron Cash third party wallet to access both chains in case of a split.
- Fore more information, pleaser refer the official announcement in the Ledger blog.
How to claim using exchanges:
- Hold your BCH coins on an exchange that supports both hard forks and will credit you with both possibly forked chains.
- Please refer to the respective exchange announcements about the exact time of the snapshots (there are small differences between some exchanges) and also about deposit and withdrawal freezes.
The following major exchanges will support the fork and credit you both coins in case of a chain split:
- Bittrex (official announcement)
- Poloniex (official announcement)
- Coinbase (official announcement)
- HitBTC (official announcement)
The following major exchanges will support the fork, but it is not clear if they will credit you both coins in case of a split or if they only conduct the Bitcoin ABC maintenance upgrade fork. We don’t recommend to leave your coins on these exchanges if you want to make sure you will be able to access both chains in case of a chain split:
- Binance (official announcement)
- Bitfinex (official announcement)
- Huobi (official announcement)
- OKEx (official announcement)
- KuCoin (official announcement)
The following major exchanges will only support the ABC full node implementation and definitely not credit any SV coins:
- BitMex (official announcement)
Please have in mind that the above list of exchanges is not complete and that all facts could change at any time.
We cannot guarantee that the above information is current or accurate. Users should verify the information before acting on it. Although we make every effort to ensure that all information is accurate and complete, we cannot guarantee it’s integrity.
Disclaimer: We list hardforks for informational purpose only. We are not able to make sure that hardforks are legit. We only want to list the opportunity of a free airdrop. So stay safe and make sure to claim forks with a private key of an empty wallet.
End in: 15 Nov, 2018