HitBTC contingency plan in case of a Bitcoin hard fork
A message from HitBTC exchange just came in. I think that this is a telltale of the events about to come. That's why I'm reporting it in it's entirety.
Dear Trader,
We are proud to introduce our contingency plan in case of a Bitcoin hard fork.
What's going on? The Bitcoin network has been experiencing issues lately. Transaction time has increased, transactions are getting stuck, time is being wasted.
One of the proposed solutions to that is the Bitcoin Unlimited project. More and more in the network are beginning to support it, and they can become a majority. This could lead to a splitting of the BTC network, with two independent coins being created:
Bitcoin Core (BTC) and Bitcoin Unlimited (BTU).
Should such an event take place, anyone who possesses BTC will be entitled to the same amount of BTU. This is something we have already implemented - any number of bitcoins deposited or already in your possession will be reflected by the same amount of BTU. This is effective from now until the hard fork, if it happens. The BTU/BTC trading pair is already available for you to use.
BTC and BTU withdrawals are locked temporarily. This is in effect from now until 48 hours after the hard fork. We care about the safety of your funds. Should the hard fork not take place before the established deadline, a survey will be arranged, so that our users can decide what to do next.
Read more: https://blog.hitbtc.com/important-possible-bitcoin-hard-fork-and-bitcoin-unlimited-arrival/
What is your opinion?
What will you do with the bitcoins in your possession? If anything...
I am thinking of transferring all localy stored bitcoins to Magnr. They will automatically exchange your account into the fork that will have bigger market cap.
Ugh, just a greedy exchange trying to profit from an event that isn't at all clear how it will turn out. It's not even clear that BU chain coins would be called BTU. If they have a majority their coin might be named BTC.
Also, even if BU has the majority, it doesn't necessarily mean that two chains will exist. Propaganda.
They are jumping on a hype train, I guess.
Thanks for your reply and the comment, I appreciate it?
Will you do anything special with your bitcoins when the fork will be imminent?