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Bitcoin Hard fork

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Warning - Network Interference

11 Jul, 2018

Bitcoins blockchain is divided into two. The industry's players disagree with the solution to Bitcoin's scaling problem. In short, Bitcoin's popularity is growing at a pace that was not foreseen in the callable code. There are two solutions to the problem that for a while both are being launched.

Chain-split

Since Bitcoin's start, the network has performed millions of transactions. As a result, different groups of people (developers, investors, miners, etc.) have discussed the best ways in which Bitcoin can be optimized in capacity.

Bitcoin Blockchain, which is an overview of all Bitcoin transactions so far, is based on a network of thousands of Bitcoin nodes running Bitcoin software. Tuesday 01/08 2017 02:00:00 GMT 0200, Bitcoin Block Chain can experience what is known as a chain split. This is when some of Bitcoin's nodes run software as another part of the nodes is not fully compatible. As a result, some nodes may spread confirmed transactions that other nodes may not accept or recognize. This can result in unreliable confirmations in unknown time. This means that any bitcoins you receive during this period may disappear from your wallet or be some kind of bitcoin that others do not accept as payment until the situation is resolved.

This post currently describes what steps you can take to prepare for this situation. After Tuesday 01/08 2017 02:00:00 GMT 0200, we update this post as well as we can with relevant information, but you are also advised to monitor other Bitcoin news sites.

Remember that you are solely responsible for the security of your bitcoins and that if you lose control of them for some reason, there is nothing we can do to help you.

Preparation

If you accept bitcoins as payments, we recommend that you stop accepting Bitcoin payments at least 12 hours before Tuesday 01/08 2017 02:00:00 GMT 0200 (English, Daylight Saving Time)

If you send bitcoins as payments, please note that many services may stop accepting bitcoins on Tuesday 01/08 2017 02:00:00 GMT 0200 (Danish, Daylight Saving Time) or earlier.

Be careful to store your bitcoins on exchanges or online services that do not allow you to make a local backup of your private keys. If there are two or more competing versions of Bitcoin, they may refuse to give you your bitcoins on versions that they can not support. We recommend that you use a hardware wallet where you own your private keys like TREZOR, Ledger Nano or the like. in the next few weeks.

Bitcoin may experience significant price fluctuations in relation to other currencies. Learn more about price volatility and make sure you have no more invested in bitcoin than you can afford to lose.

Nordic Bitcoin closes on 31.07 at 12.00 in order to avoid transactions that potentially can get invalid confirmations in both blockchains.

Updated 1/8-2017: We expect to open when we consider it safe to shop again.