Last week, the bitcoin network forked and two coins emerged, presently being called Bitcoin (BTC) and Bitcoin CASH (BCH or BCC). All users who held BTC in their breadwallet were automatically credited the same number of BCH at the time of the fork. Although those coins remain safe, they are “dormant” without additional support.
Over the past 7 days, the BCH network has improved sufficiently that we can expect it to survive, and potentially thrive, for the foreseeable future. Thus breadwallet plans to implement full support for BCH.
However, this level of support will require some time, and we want to ensure that users currently holding BCH who want to move their coins are able to do so. As a holdover for these customers, breadwallet will provide the ability to send your entire BCH balance in a single transaction to another address or service of your choice by Monday, August 14th.
Three important things are worth noting:
- All users have had the ability to send the BCH they hold using other software that we do not control. While we cannot recommend this action, we recognize it as a viable solution for those who do not wish to wait for our feature.
- The utility of the BCH send function comes with a privacy trade-off. The transaction that sends your entire BCH balance will publicly associate all of the addresses in your breadwallet. If you value financial privacy more than the ability to send BCH, we recommend you wait for the full implementation.
- Until the full implementation is launched, we do not recommend you send BCH to an address in your breadwallet. If you do, it will safely arrive, but it will not be included with the other coins when using the one-time BCH send functionality. Again, for anybody who has done this, we recommend you wait for the full implementation.
Congratulations to both the BTC development team for locking in SegWit, and to the BCH development team for putting larger blocks in the wild. We respect and admire all of you, and look forward to a bright future for BTC and BCH.
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