Bitstamp's Position on Potential Bitcoin Hard Fork

[MBi]

From Bitstamp:

We would like to take this opportunity to let you know our plans for the upcoming weeks as we navigate any potential disruptions on the Bitcoin (BTC) network. As always, our focus will continue to be on the safety of your funds. In the event of a User Activated Hard Fork (UAHF) on 1 August or thereafter, it is important to clarify that Bitstamp would not be in a position to support Bitcoin Cash (BCC), the coin associated with the Bitcoin Cash proposal. In Bitstamp's view, BCC is an alt-coin and the decision to list BCC tokens remains at our sole discretion at all times.

If Bitstamp chooses to list BCC, we would decide at our own discretion on what course of action to take with balances deriving from the hard fork. BCC would also be subject to the same due diligence processes as for any other alt-coin, which requires time and careful planning. For these reason, Bitstamp is not in a position to support BCC, nor will Bitstamp be liable for any BCC sent to Bitstamp.

As always, the safety of your funds remains our number one priority. To this end, as a security precaution, we will be disabling bitcoin deposits and withdrawals on 31 July 2017 at 23:00 hrs UTC to ensure that all BTC funds stored at Bitstamp remain secure. Trading will remain unaffected throughout. Deposits and withdrawals will be resumed only when we deem it safe and prudent to do so.

We will leave it to you to decide whether to withdraw your BTC funds from Bitstamp prior to this cut-off date if you would like to access BCC or any other hard fork, and Bitstamp shall not be held liable for any consequences of that decision, from neither a financial, operational nor regulatory standpoint.

To be clear, Bitstamp has no favoured outcome to the resolution of the bitcoin scaling issue. Our sole focus is on you and your best interests. As such, we are continuing to monitor developments closely. Please check our Twitter feed, Facebook page and website for the latest news, updates and developments.

Best,

The Bitstamp team

Edited July 27, 2017 by MBi

[Phintech]

This seems like the widespread stance from all exchanges I deal with.

I'm almost feeling like this is going to be a non-event.  BTC prices on the exchanges are much more stable than I thought they would be this close to the potential fork.

[Guest]

BitBays say they will support both/all branches in any fork.

https://bitbays.com/help/news/1633/

[Hodor]

36 minutes ago, tev said:

BitBays say they will support both/all branches in any fork.

https://bitbays.com/help/news/1633/

??  How will they support multiple branches?  My understanding is that each branch will have the same exact funds, but it's just forking. 

i.e., if you had 10 bitcoins prior to a fork, on each branch you will still have those 10 bitcoins afterwards.  Somebody that knows better please correct me!

[JonHolmquist]

30 minutes ago, Hodor said:

??  How will they support multiple branches?  My understanding is that each branch will have the same exact funds, but it's just forking. 

i.e., if you had 10 bitcoins prior to a fork, on each branch you will still have those 10 bitcoins afterwards.  Somebody that knows better please correct me!

Yup.

On the exchange side you just duplicate your ledger and ascribe one with the correct new daemon to each side with their own boards.

Free money.

[Bagheera]

19 minutes ago, JonHolmquist said:

Yup.

On the exchange side you just duplicate your ledger and ascribe one with the correct new daemon to each side with their own boards.

Free money.

Are you referring to what an exchange developer would do or exchange end-users?

[JonHolmquist]

Just now, Bagheera said:

Are you referring to what an exchange developer would do or exchange end-users?

Exchange developer

[XRPJoe]

Goldman Sachs is saying might be a flash crash then a fast ride up to over 3K. 

Its going to be insetting watching the charts come Tuesday.