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Announcements


additional Bitcoin hard forks will not be supported

Sometime in mid November 2017, a contentious hard fork of Bitcoin is anticipated, in order to implement the "2X" part of the SegWit2X New York Agreement. (I.e to double the basic block size.) This fork is variously called B2X, S2X, or even BTC by some of its proponents. SilentVault's SBC voucher currency, which is 100% backed by BTC, will not support the "2X" version of the Bitcoin blockchain, regardless of what it ends up being called.

Likewise, a fork has been proposed called "Bitcoin Gold." This fork is a "friendly" fork in that its proponents do not attempt to claim that it is the real Bitcoin. This fork also will not be supported by SilentVault.

Because neither of these forks implement two-way replay protection, it is possible that a spend on one fork may inadvertently cause the same coins to be spent again on another fork. Since SBC in circulation is backed by bitcoin that is pooled, it is therefore the case that, when you redeem a SBC voucher for its backing BTC, the result could be a spend on multiple blockchains. In that case there is no way for us to guarantee that you will receive credit for the spend on the non-BTC blockchains.

If this concerns you, or if you would like to receive your coins on B2X or BTC Gold, then you will need to redeem your SBC into a wallet whose private keys are under your personal control, prior to the fork taking place. We recommend using Bitcoin Core for this purpose. Certain other wallets such as Samourai Wallet, Trezor, and BTC.com may elect to support these forks as well.

At SilentVault, we will be sticking with Bitcoin Core and the original flavor of Bitcoin, BTC.