Coinbase Bitcoin Gold FAQ

Bitcoin Gold is a proposed fork to the Bitcoin system to create a new blockchain. The new blockchain will probably be incompatible with the present version of Bitcoin.

The fork has already privately occurred at some point known only to the Bitcoin Gold development team. The Bitcoin Gold blockchain will be made publicly accessible once the Bitcoin blockchain reaches block amount 491,407, which is presently anticipated to occur on October 25, 2017.

Is Coinbase Going To Encourage Bitcoin Gold?

Coinbase operates on the principle that our clients should benefit to the most significant extent possible from hard forks or other unexpected events. However, safety and security are also important factors for any advantage backed by Coinbase.

At this time, Coinbase cannot support Bitcoin Gold since its programmers haven't made the code available to people for inspection. This is a significant security risk. They’ll continue to track the growth of Bitcoin Gold, and whether its network proves to be both valuable and secure, Coinbase may opt to support it at a subsequent date.

Will Coinbase Sell Bitcoin Gold?

Coinbase/GDAX won't sell or keep Bitcoin Gold connected with client Bitcoin for itself. Any Bitcoin Gold will remain securely saved on Coinbase. If Coinbase were to enable support for Bitcoin Gold at a future date, then clients would be able to withdraw Bitcoin Gold associated with their Coinbase/GDAX Bitcoin accounts at the time of their Bitcoin Gold fork.

What actions do I need to take?

No client action is demanded. Your existing Bitcoin funds remain secure. Coinbase will continue to track the development of Bitcoin Gold, and if its network proves to be both secure and valuable, Coinbase may decide to support it at a subsequent date. At that point, your account would be credited with an appropriate amount of Bitcoin Gold.

Will there be some disturbance to Coinbase/GDAX?

No. We do not anticipate any disruption and intend to have Coinbase and GDAX operating as usual. Please consult with our status web page for live updates.

How can this impact the Bitcoin network?

Like with other new forks in the blockchain, the exact effects of Bitcoin Gold is so far unclear. However, what we do know from previous experience is that Bitcoin Gold could have a significant impact for developers in terms of integrating it back into the Blockchain, and may affect the price of Bitcoin itself.

More developments will be released as they become available.

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