GDAX will stop operating with Bitcoin a few hours before the Hardfork of the cryptocurrency begins, to avoid that if it is divided into two different currencies, problems with the values ​​and active operations.

The reactions by the exchange houses to the Bitcoin.org statement has not been long in coming, after it announced the possible problems that could occur on August 1, where there could be a soft bifurcation of users within the ecosystem of Bitcoin. This will allow updating the network and force the use of Segregated Witness or SegWit, as a solution to solve the scalability problems that are occurring in the Bitcoin network. The GDAX exchange for its part has reported that it will suspend operations with Bitcoin to avoid problems.

A second notice is scheduled for next July 31, to avoid the division of blockchains and for next August 1 there should be the deployment of the BIP 148 update. The update of the miners will be fundamental and those that do not adapt, they will be left out of the Bitcoin network.

The same scenario could occur that occurred with Ethereum and Ethereum Classic, therefore, we must be very attentive to what happens in the next few days and on the 30th, cease operations with Bitcoin and wait for events. Many companies will, of course, upgrade to keep their funds safe, transferring stored money to a wallet or exchanging online to a desktop wallet may be a good idea.

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 “Activating a UASF can create two blockchains and, on this, there are two likely outcomes:

One blockchain assumes the dominant character, resulting in the other blockchain having low adoption and community value.

Both blockchains are adopted, coexist and operate unhindered, with equitable adoption among community members.

In either scenario, we will implement safeguards to ensure the safety of our clients' funds. For example, we are temporarily suspending Bitcoin deposits and withdrawals. That decision is based on our assessment of the technical risks posed by the fork, as well as the attacks that could create network instability.

We support the growth and scaling of the Bitcoin network and look forward to working with users in the community to manage the security of this event. To stay up-to-date with the latest GDAX updates, check out our portal and visit us on Twitter. "

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Source: GDAX BLOG