UAHF: What does it mean for the DNMs as a whole? [Discussion]

The question is in the title.

The following is a transcript of an email on the subject that I received from Coinbase.

Dear Coinbase Customer,

We are contacting you to make you aware of recent developments in a number of proposals for technical changes to Bitcoin. All BTC stored on Coinbase will remain safe during these events described below.

The User Activated Hard Fork (UAHF) is a proposal to increase the Bitcoin block size scheduled to activate on August 1. The UAHF is incompatible with the current Bitcoin ruleset and will create a separate blockchain. Should UAHF activate on August 1, Coinbase will not support the new blockchain or its associated coin.

The User Activated Soft Fork (UASF) is a proposal to adopt Segregated Witness on the Bitcoin blockchain and could result in network instability. It is scheduled to activate at the same time as the UAHF.

To ensure the safety of customers' funds, we will temporarily suspend BTC deposits, withdrawals, and buy/sell starting approximately 4 hours before activation of either fork.

If you do not wish to have access to UAHF coins, and do not wish to access your BTC during the fork, you are not required to take any action. If you do wish to have access to UAHF coins or access your BTC during the fork, you should send your BTC from Coinbase to your external address by July 31. For more information on these potential Bitcoin forks, please refer to this article:

https://support.coinbase.com/customer/portal/articles/2844217-uahf-uasf-faq.

Thank you,

Coinbase Team


Comments


[4 Points] TheDestroyerXIX:

Coinbase in General is absolute Shit. They're wallets are shit, they're support is shit, and they're payment methods are OK, but they're payment processor is shit too. Conclusion?

COINBASE=Shit


[3 Points] thundergun661:

Yall are all just bashin coinbase but nobody's addressing what UAHF actually means for BTC as a currency and how it'll affect trade


[3 Points] SethProff:

Coinbase, your authetication system sucks and alot of my cards are incompatible with your system.


[2 Points] bobquest33:

I feel a hard fork is the fork of the chain exposing the users of replay attack and many exchanges and miners and dev are rightly angry coz not enough time nor thought given to the fork.In fact facts are coming out as we go. One big issue i see is the 8mb block size if am right that will take many small time recreational miners out of the game and also will give too much power to ant miners. Next big issue is the centralization of Blockchain. As you would need powerful nodes and much faster network to really prevent the man in the middle attack Another big issue is the official bcc wallet is the bitcoinabc wallet which is a full node … No one rally knows how exchanges and wallets are ready for the hard fork. Very irresponsible on behalf of viabtc and a small section of the miners to expose so many users of btc to a kind of hard fork that many are not ready or understand to a limited extent Altcoins run on a different port and they change consensus mechanism and though they start with the code.But this fork is both code and chain so very risky. And what bcc is selling is that you use both btc and bcc so the risk of these users heightened. I think many are doing so they selling Altcoins and hoarding tagin my thought to dump bcc after Aug 1 https://medium.com/crypt-bytes-tech/crypto-thoughts-reading-ann-on-bitcoin-cash-21b976a7aac1