Bittrex's Statement on the Upcoming UAHF - They will Credit Users Accounts on a 1:1 Ratio
In my view, Bittrex is the most trustworthy exchange out there. In an article posted on the official channels, they announced their stance on the upcoming fork.
If you have a Bitcoin (BTC) balance on Bittrex during the BCC UAHF time on August 1st, 5:20am (12:20pm UTC), you will be credited the equivalent amount of Bitcoin Cash (BCC) on a 1:1 basis. i.e. 1 BTC on Bittrex held during the on-exchange snapshot will get you 1 BCC.
This is good news for people who do not want to move their coins off of the exchange into a private wallet. It also gives people an opportunity to buy in to cheap alts quickly; most alts are bleeding as people flock to btc to get BitCoin Cash. Why they want BCC is beyond me . . . If everyone is moving their coins to get the new one, what will happen to the price once it starts trading? It will plummet.
Trex has been pretty reliable, and if they say they are going to do something, I believe them. What am I doing to prepare? I've moved a decent sized portion of my funds off of exchanges and into a personal wallet. Not really because I want the BCC, I'll take them don't get me wrong, but I like having access to my money at ALL times. Bitcoin deposits and withdrawals will be frozen August 1st.
I'm leaving some on the exchange to capitalize on the huge sell off that is occurring now. Once these people have received their coins, I believe a lot of them will go back into alts, driving back up the price.
BCC may not be actively traded on Bittrex after the fork, but I'm betting that they will add it soon after.
There is no guarantee that any markets will open to allow BCC assets to be tradable on Bittrex exchange.
Hey @shawnfishbit !!
Sorry to contact you here, I saw you sent 2 SBD for @randowhle services recently, well.. the fee decreased and it costs 1 SBD now. Thought I should let you know
Have a great day!
Thank you so much @dontstopmenow
I wasn't even aware.
My pleasure!
Love helping any fellow steemian
Have a great weekend!
So where will my BCC go if my bitcoin is stored in Bittrex? Will they have an address on Bittrex that it will go to and just not be able to trade it or will i have to have a wallet somewhere else for it to be deposited in?
As far as I can tell, they will be handling it all. Creating the wallet. BCC might not be actively traded at first, but you should be able to withdraw it from the exchange.
If there turns out to be a lot of volume, I think that they'll add it.
This is still all speculation man, we'll find out in a few days.
Good for Bittrex. I just may consider moving my assets over to them @shawnfishbit just because of this. I don't have a lot of BTC but I use Coinbase and they are just going to ignore the hardfork. I'm sure they will end up with the BCC and keep them for themselves. Seems a bit shady on their part.
Yea, they sure wouldn't let all those coins go to waste would they? I agree, it is shady. At least some of these other exchanges are making attempts to make it easier on their users.
Everything is a big question mark now. Nobody knows what really will happen on August 1st, that is the truth.
This is an awesome idea when everybody else is claiming the forked tokens for themselves. Good on Bittrex.
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