How Golix is preparing for the upcoming bitcoin upgrade

On 1 August 2017, the bitcoin network will be undergoing a contentious bitcoin upgrade. If you want to learn more about this upgrade, we have a blog post that explains it in better detail here.

We think that this upgrade will likely result in at least two different forks of Bitcoin and because it’s hard to tell how this event is going to play out, we shall be temporarily suspending all bitcoin-related transactions on 1 August 2017.

This temporary suspension is just so that we are able to protect your funds against losses through things such wipeout or replay attacks. We will resume normal operations as soon as the dust settles and we are certain that everything is safe.

If you have any bitcoin in your Golix account at the time of the upgrade, and there is a fork, we shall make sure that your funds are available, not just on the fork that emerges as the winner but any other minority forks that may result.

If you are a bitcoin holder (whether through us or not), the best way to protect your bitcoin during this time is to not send or move your bitcoin.

In preparation for this Bitcoin network event, we have made some updates to Golix so they next time you log into your Golix account, you will notice that

• Your bitcoin address has changed. If you are going to make any bitcoin deposits, make sure you send them to your new bitcoin address (sending it to the old address will result in your deposits taking longer because we’ll have to manually move them to your new wallet).
• We have increased the number of confirmations required for BTC deposits from 1 to 7. This means that your bitcoin deposits will take longer to go through. We shall reduce the number of confirmations required for your deposit to go through after the upgrade.
• We’ve fixed the bug that required you for first refresh your page when you were making a BTC withdrawal — a lot of you are going to be happy about that fix.
• We now provide better notifications when you make deposits/withdrawals.
• We’ve made a few other bug fixes and improvements so BitcoinFundi should work better and faster than it did when you last logged in.

We are monitoring the situation as it unfolds very closely and the best way to stay up-to-date with updates regarding this upgrade will be via the Golix Twitter account.

If you need help with anything, the fastest way to get help is by sending an email to support@golix.com.