BitGo warns that Bitcoin SV’s hard fork will stun the wallet

by in Cryptocurrency News

Bitcoin SV

BitGo, a cryptocurrency management organization, warns its users to convert their Bitcoin SV coins due to a compatibility issue.

Related: Multi-signature wallets and their benefits

The company mentioned that the upcoming hard fork of the altcoin, known as Genesis, contains a protocol modification that can bring to the impossibility of the wallet to receive transactions.

The hard fork is planned to occur in February 2020. After that, users of BitGo will only have an opportunity of spending remaining BSVs, not accepting incoming transactions.

Deprecating the event, BitGo advised its users: "Sell it all together and convert it to Bitcoin."

The problem with Bitcoin SV is going to occur as the Genesis hard fork is going to remove P2SH protocol, and this action will instantly paralyze the entire client base.