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Before and After — the Great Bitcoin Fork

August 1, 2017

 

Today, at 12:20pm UT, or 8:20am ET, Bitcoin split into two. One Bitcoin will be known as “Bitcoin” and enable Segwit2x, supported by most businesses in the community. Another Bitcoin will be “Bitcoin Cash”, which has lesser support, but is currently trading on futures markets at around 20% of Bitcoin’s value.

If you control the private keys to an address with 1 Bitcoin on July 31st, after this fork event, you will control 1 Bitcoin (BTC) and also 1 Bitcoin Cash (BCC) on two, previously identical but from that point onward divergent cryptocurrency networks. You will own two separate versions of Bitcoin with their own futures and supporters after the fork event.

 

PSA: bridge21 does not anticipate any interruption of service

Quickly, we do not anticipate any interruption of bridge21’s services from Bitcoin’s hard fork on August 1, 2017. All of our Bitcoin will be stored on addresses where we control the private keys during the fork event, thereby ensuring no loss of funds on either chain. We’re also keeping enough Mexican Pesos in reserve so that even if there are significant disruptions to the Bitcoin network, we will still be able to satisfy customer transactions for some time after the fork. Finally, our service doesn’t need a specific type of digital currency