Breadwallet (still) protects you from forks
Aug 23, 2017
Yesterday, an article came out claiming breadwallet users could lose their bitcoin if there is a SegWit2x fork in November. This article is incorrect, and we would like to explain the facts since many of our users are understandably worried about what might happen to their money. As we’ve explained before, breadwallet protects you from forks, and this possible fork is no different.
With breadwallet, you control your own private keys. Andreas Antonopoulos has famously said "Your keys, your bitcoin. Not your keys, not your bitcoin." And he’s right. If you hold the private keys, it’s your bitcoin. And if you hold them through a fork, you will arrive safely on the other side with the same number of coins on both chains.
The recent events on August 1st have proven that breadwallet follows a very simple rule: keep the customer in control. We want you to be able to rely on us, without having to trust us. Before and after the Bitcoin Cash fork, breadwallet communicated clearly and regularly about what customers should do to remain safe, and what we would do to support our users through the process.
Breadwallet was one of the first decentralized wallets to give customers access to their BCH. BTC was fully supported before and after the fork with no interruption, and two weeks later customers had the ability to withdraw their BCH from their breadwallet and send it to a destination of their choice. We are currently designing a full BCH implementation, and will release it once it has been built and properly tested.
If there is another fork, breadwallet is committed to handling things the same way: we will communicate regularly with our users through blog posts and mailing list updates, explaining how the fork might impact our users and what we will do about it.
The truth is, breadwallet is actually one of the best places to hold your bitcoin during a fork like the one that might happen in November. Your breadwallet app connects directly to the bitcoin network, and if a fork were to happen it will automatically follow the longest chain with the most proof of work. This is simply how bitcoin is designed to work. However, to fulfill our promise to keep customers in control, we have added a “node tethering” option that lets users follow whichever chain they wish, even one that has less proof of work. Simply find the IP address of a node that is dedicated to the chain you want to participate in, and tell your breadwallet to connect to it. If the node is unavailable, breadwallet will keep trying to connect, and will not connect to another node without your consent.
As you can see, breadwallet puts users in direct control of their own bitcoin, which makes it the best place to have your funds during a fork. Keep calm, and leave your coins in breadwallet.
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