What is Bitcoin Gold?
Bitcoin Gold is a proposed fork to the Bitcoin network to create a new blockchain. The new blockchain will be incompatible with the existing version of Bitcoin. To learn more about forks, check out our blog post.
When will this fork occur?
The fork will occur after block 491,406 is mined on October 24th. The Bitcoin Gold team will pre-mine 100,000 Bitcoin Gold coins before releasing the software to the public. Unlike previous forks, the network will not be usable for several days until the Bitcoin Gold team releases the software.
Is Coinbase going to support Bitcoin Gold?
We operate by the principle that our customers should benefit to the greatest extent possible from hard forks or other unexpected events. However, safety and security are also important considerations for any asset supported by Coinbase.
At this time, Coinbase cannot support Bitcoin Gold because its developers have not made the code available to the public for review. This is a major security risk.
We will continue to monitor the development of Bitcoin Gold, and if its network proves to be both secure and valuable, Coinbase may decide to support it at a later date.
Coinbase/Coinbase Pro will not sell or keep Bitcoin Gold associated with customer Bitcoin for itself. Any Bitcoin Gold will remain securely stored on Coinbase. If Coinbase were to enable support for Bitcoin Gold at a future date, customers would be able to withdraw Bitcoin Gold associated with their Coinbase/Coinbase Pro Bitcoin balances at the time of the Bitcoin Gold fork.
What actions do I need to take?
No customer action is required. Your existing Bitcoin funds remain safe. We will continue to monitor the development of Bitcoin Gold, and if its network proves to be both secure and valuable, Coinbase may decide to support it at a later date. At that point your account would be credited with an appropriate amount of Bitcoin Gold.
Will there be any disruption to Coinbase/Coinbase Pro?
No. We do not anticipate any disruption and plan to have Coinbase/Coinbase Pro operating as normal. Please refer to our status page for live updates.
How will this affect the Bitcoin network?
We do not expect any impact on the Bitcoin network or delays with sends and receives at this time.