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venetiancoin

Unfair behaviour of GateHub (GateHub Fifth) about BTC owned during 1 August fork

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Posted (edited)

As title I think GateHub did not behaviour very well according to what has just happened to BTC and BCH (BitCoin Cash, https://coinmarketcap.com/currencies/bitcoin-cash/) fork.

They should at least have taken a position seeing the 'free' airdrop available to BTC owners. Please read what has happened at Bittrex:

https://support.bittrex.com/hc/en-us/articles/115000808991-Statement-on-Bitcoin-Cash-BCC-

For every BTC owned by customer they give another BCH after August 1 fork.

What about GateHub? They gave us NOTHING. I don't think it's very fair in particular seeing that also smaller Exchanges\Wallets like Bitifinex gave BCH additionally to BTC owned by customers.

I hope it's still possible to us, BTC owned during fork @ GateHub, to obtain OUR BCH (BitCoin Cash) in addition, because of fork.

Best regards.

 

UPDATE 3 August, GateHub will support BCH even if we don't know how:

 

Edited by venetiancoin

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There are some technical issues with trustlines when giving "free" tokens to users.

Some other exchanges also didn't give "free" BCH tokens to users.

If you really wanted BCH so badly, you could always withdraw BTC to your own bitcoin wallet address.

 

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Posted (edited)
2 minutes ago, T8493 said:

There are some technical issues with trustlines when giving "free" tokens to users.

Some other exchanges also didn't give "free" BCH tokens to users.

If you really wanted BCH so badly, you could always withdraw BTC to your own bitcoin wallet address.

 

I don't have a BitCoin wallet address and I wouldn't feel safe to give someone else private keys to obtain BitCoin Cash. I hoped for GateHub a similar behaviour as Bittrex. According to Hostfat GateHub should have received BitCoin Cash thanks to airdrop and, in my opinion, they should definetely give them to customers.

Edited by venetiancoin

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14 minutes ago, venetiancoin said:

According to Hostfat GateHub should have received BitCoin Cash thanks to airdrop and, in my opinion, they should definetely give them to customers.

1

All exchanges (that hold BTC on blockchain) "received" "free" BCH tokens. Regardless of this, many exchanges didn't give them to customers, e.g. Bitstamp: https://www.bitstamp.net/article/bitcoin-hard-fork-our-position/

All customers had a chance to withdraw their BTC before the cut-off date. I see no problem here at all.

Life is not fair, get used to it.

 

 

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5 minutes ago, T8493 said:

All exchanges (that hold BTC on blockchain) "received" "free" BCH tokens. Regardless of this, many exchanges didn't give them to customers, e.g. Bitstamp: https://www.bitstamp.net/article/bitcoin-hard-fork-our-position/

All customers had an option to withdraw their BTC before the cut-off date. I see no problem here at all.

Life is not fair, get used to it.

 

 

Seeing GateHub didn't do any Announcement about it we could have expected very far better than NOTHING.

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24 minutes ago, venetiancoin said:

Seeing GateHub didn't do any Announcement about it we could have expected very far better than NOTHING.

You should probably lower your expectations - this is crypto, the wild west of the financial world.

Complaining about this on public forums probably won't help. But you can always sue them if you think they should give you BCH.

 

 

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1 minute ago, T8493 said:

You should probably lower expectations - this is crypto, the wild west of the financial world.

You can always sue them if you think they should give you BCH.

 

Yes, I think they should. How to properly sue them?

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Posted (edited)

I think GateHub will end up giving the BCC coin on a 1:1 basis.

They actually stated they were going to - see link below

http://blog.gatehub.net/post/159448330462/about-the-potential-bitcoin-fork

I was waiting for the announcement on the actual wallet site but it never came.

Maybe its just down to them not being prepared as yet or theyre waiting to see what happens in the next few days.

Time will tell.

I will be slightly peeved if BCC survives and GateHub does not pass out the "free money".

 

Edited by monjere
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Posted (edited)
5 minutes ago, monjere said:

I think GateHub will end up giving the BCC coin on a 1:1 basis.

They actually stated they were going to - see link below

http://blog.gatehub.net/post/159448330462/about-the-potential-bitcoin-fork

I was waiting for the announcement on the actual wallet site but it never came.

Maybe its just down to them not being prepared as yet or theyre waiting to see what happens in the next few days.

Time will tell.

I will be slightly peeved if BCC survives and GateHub does not pass out the "free money".

 

I must definetely quote you and I really hope you are right. It would be very unfair instead.

Edited by venetiancoin

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1 hour ago, venetiancoin said:

As title I think GateHub did not behaviour very well according to what has just happened to BTC and BCH (BitCoin Cash, https://coinmarketcap.com/currencies/bitcoin-cash/) fork.

They should at least have taken a position seeing the 'free' airdrop available to BTC owners. Please read what has happened at Bittrex:

https://support.bittrex.com/hc/en-us/articles/115000808991-Statement-on-Bitcoin-Cash-BCC-

For every BTC owned by customer they give another BCH after August 1 fork.

What about GateHub? They gave us NOTHING. I don't think it's very fair in particular seeing that also smaller Exchanges\Wallets like Bitifinex gave BCH additionally to BTC owned by customers.

I hope it's still possible to us, BTC owned during fork @ GateHub, to obtain OUR BCH (BitCoin Cash) in addition, because of fork.

Best regards.

You have been warned before the fork so you really dont have any rights!

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Just now, BAX said:

You have been warned before the fork so you really dont have any rights!

It is not a warning. It tells us they would give free new coins:

"All holders of GateHub Fifth’s BTC at the time of the fork will keep any existing balances, and will also be issued the same amount of the new coin.

For BTC held in GateHub Fifth’s hosted wallets, this process will be quick and won’t require any user interaction."

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1 minute ago, venetiancoin said:

It is not a warning. It tells us they would give free new coins:

"All holders of GateHub Fifth’s BTC at the time of the fork will keep any existing balances, and will also be issued the same amount of the new coin.

For BTC held in GateHub Fifth’s hosted wallets, this process will be quick and won’t require any user interaction."

So if they said so, just give them some time!

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Just now, BAX said:

So if they said so, just give them some time!

This is the point but still this hasn't happened, so they didn't respect they own announcement:

"Handling the BTC held in our users’ Ripple wallets is slightly more involved due to the properties of the Ripple protocol. We, like any other Ripple gateway, can only proceed with funding our users’ wallets with new (forked) coins if the Ripple wallet explicitly allows the new currency by setting a trustline. Only the Ripple wallet owner (holder of the Ripple wallet private key) can allow new currencies by setting the trustline. To facilitate smooth issuance of the new (forked) coins, we will enable our users to issue this trust in advance, before the fork."

Nothing happened before the fork... so you understand we are very worried about it.

 

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36 minutes ago, venetiancoin said:

Yes, I think they should. How to properly sue them?

If the court decides that you chose to take a risk by ignoring the advice that's plastered all over the internet, then you could end up wasting a lot of money on lawyers' fees, court fees and hair transplants. Just to recap, the advice that's repeated in lots of places on the internet was send your BTC to an address where you control the private key.

It's only one day since the fork, so if GateHub Fifth have still got your BTC (and haven't been making transactions out of their wallet), then it follows that GateHub Fifth have still got your BCH. Perhaps you should give them time to implement a safe BCH wallet.

(I've just had a play with the Electron-Cash BCH wallet, using a watch-only wallet, and I found that it's all too easy to use it incorrectly such that you accidentally open your pre-fork Electrum wallet [I got past this confusion by adding an extra “sys.path = ” line to the launch script in $HOME/.local/usr/bin/]; so it's right and proper that exchanges should proceed with extreme caution.)

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