Consensus change to render BitGo BSV Wallets unable to receive funds

Bitcoin Satoshi’s Vision (BSV) Protocol Developers have scheduled the Genesis Hard Fork for February 4, 2020. This consensus rule change will make Pay-to-Script-Hash (P2SH) outputs invalid. Since BitGo’s BSV wallets use P2SH-based multi-signature addresses, the protocol change will render BitGo BSV wallets unable to receive funds.

What this means for…

BitGo now supports sending to Bech32 addresses and generating Native SegWit addresses on Litecoin. We previously introduced the advantages of Native SegWit addresses when we rolled out Native SegWit support for Bitcoin.

Native SegWit receive addresses can be generated via the API by specifying the derivation chain code 20 for new addresses. When sending transactions, passing the parameter addressType: ‘p2wsh’ will send change to Native SegWit change addresses.

Have questions? Please contact support@bitgo.com.

Update: Blockchair.com, BTC.com and Smartbit.com.au have corrected their fee rates since my article. Thank you!

We’ve been getting support requests from customers inquiring why their transaction’s fee rate is not matching the parameters they set.

The problem is that popular blockchain explorers don’t get the fee rate right. Let’s look…

Murch

Bitcoin enthusiast, interested in UTXO management and coin selection. Contributor to Bitcoin StackExchange.

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