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Amevalentine (OP)
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July 19, 2017, 12:42:26 AM |
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13 Japanese Exchanges Agree to Suspend Bitcoin Service on August 1 The Japan Cryptocurrency Business Association has officially announced its plan on how to deal with the possibility of a Bitcoin protocol split on August 1. Thirteen of the group’s bitcoin exchange members, including Coincheck, Gmo-Z, Bitbank, and Bitpoint, will suspend bitcoin deposits and withdrawals on August 1 at 00:00 Japan time.
We decided to temporarily stop accepting bitcoin deposits and withdrawals at each exchange…We will stop only the services related to depositing and withdrawing bitcoins, but we will provide our other regular services for virtual currencies and legal currencies. source https://news.bitcoin.com/13-japanese-exchanges-suspend-bitcoin-service-august-1 |
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According to NIST and ECRYPT II, the cryptographic algorithms used in
Bitcoin are expected to be strong until at least 2030. (After that, it
will not be too difficult to transition to different algorithms.)
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Sithara007
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Leading Crypto Sports Betting & Casino Platform
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July 19, 2017, 01:19:07 AM |
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If they put up some communique regarding what will happen to the coins which are already in the exchange wallets, then it will be really helpful. Most of the exchanges have not revealed what they are gong to do on August 1.
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Xester
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July 19, 2017, 06:58:02 AM |
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13 Japanese Exchanges Agree to Suspend Bitcoin Service on August 1 The Japan Cryptocurrency Business Association has officially announced its plan on how to deal with the possibility of a Bitcoin protocol split on August 1. Thirteen of the group’s bitcoin exchange members, including Coincheck, Gmo-Z, Bitbank, and Bitpoint, will suspend bitcoin deposits and withdrawals on August 1 at 00:00 Japan time.
We decided to temporarily stop accepting bitcoin deposits and withdrawals at each exchange…We will stop only the services related to depositing and withdrawing bitcoins, but we will provide our other regular services for virtual currencies and legal currencies. source https://news.bitcoin.com/13-japanese-exchanges-suspend-bitcoin-service-august-1This is the only choice the exchanges that the local exchangers has to do and that is to suspend bitcoin activities on August 1 until all issues are clear and it is already safe for their clients. It is not only in Japan but also in the Philippines the local exchange have already declared that they will stop the bitcoin operations such as deposit and withdrawal due to uncertainties on August 1. Hope we get over with August 1 so that we can bring back the lively bitcoin. |
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freedomno1
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Learning the troll avoidance button :)
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July 19, 2017, 07:09:08 AM |
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Well after the Gox incident at least they gave people some notice that this time around they will be checking for bugs, while the transition is taking effect.
Better be cautious and prepared for any situation than have no funds ^^.
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Believing in Bitcoins and it's ability to change the world
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ecnalubma
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July 19, 2017, 09:15:20 AM |
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I think most exchanges all over the globe will do the same thing, In that process I think they can handle and control any situation that might occur during the big day. Its better not to play this time because a lot of investors might be affected by wrong decisions, well I guess for sure that major exchanges dropped btc volume this month.
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Amevalentine (OP)
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July 19, 2017, 09:22:14 AM |
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at least some exchanges have announces their position at 1 august.
saving btc on desktop wallet its more safety on 1 august i think
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audaciousbeing
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July 19, 2017, 10:26:03 AM |
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13 Japanese Exchanges Agree to Suspend Bitcoin Service on August 1 The Japan Cryptocurrency Business Association has officially announced its plan on how to deal with the possibility of a Bitcoin protocol split on August 1. Thirteen of the group’s bitcoin exchange members, including Coincheck, Gmo-Z, Bitbank, and Bitpoint, will suspend bitcoin deposits and withdrawals on August 1 at 00:00 Japan time.
We decided to temporarily stop accepting bitcoin deposits and withdrawals at each exchange…We will stop only the services related to depositing and withdrawing bitcoins, but we will provide our other regular services for virtual currencies and legal currencies. source https://news.bitcoin.com/13-japanese-exchanges-suspend-bitcoin-service-august-1This is exactly what is expected to happen and even on the forum here, there is notice to avoid sending or receiving bitcoin 12hours before or after the August 1 in which everybody should heed to without any need for excuses. For them coming out to notify the public is a demonstration that they are committed to what is really going on which might not even be sorted out days after August 1 in case there is a split. Anyone having coins on those exchange, the best is to start moving to a more secure wallet. |
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gentlemand
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Activity: 2590
Merit: 3013
Welt Am Draht
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July 19, 2017, 10:32:13 AM |
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There won't be a chain split. Segwit will be locked in before then and 148 will be irrelevant. Why didn't they say they'd do this if there was ongoing uncertainty? There won't be by then.
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Lancusters
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July 19, 2017, 10:56:30 AM |
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The correct statement. People take a responsible approach to coins users. They don't want to risk it. So have to do everything. Then quickly agreed and no problems with the division will not. Painless I can wait a month or more until the transactions to be debugged.
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Amevalentine (OP)
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July 20, 2017, 07:16:19 PM |
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This is exactly what is expected to happen and even on the forum here, there is notice to avoid sending or receiving bitcoin 12hours before or after the August 1 in which everybody should heed to without any need for excuses. For them coming out to notify the public is a demonstration that they are committed to what is really going on which might not even be sorted out days after August 1 in case there is a split. Anyone having coins on those exchange, the best is to start moving to a more secure wallet.
Well everything information is needed by people in facing August. yes, i agree, keeping btc in desktop wallet is good suggestion so far. There won't be a chain split. Segwit will be locked in before then and 148 will be irrelevant. Why didn't they say they'd do this if there was ongoing uncertainty? There won't be by then.
Should if this is true then everything can be published and no confusion like so far. |
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Idrisu
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July 20, 2017, 09:26:37 PM |
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It is a very nice decision and every others exchangers should follow suit as this is the best way to safeguard investors, investment from risk and possibility of losing their bitcoin during this hardfork issues on August 1 2017. This do not mean something terroreble will happen but take a pre contion measures.
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drachman
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July 20, 2017, 09:38:56 PM |
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13 Japanese Exchanges Agree to Suspend Bitcoin Service on August 1 The Japan Cryptocurrency Business Association has officially announced its plan on how to deal with the possibility of a Bitcoin protocol split on August 1. Thirteen of the group’s bitcoin exchange members, including Coincheck, Gmo-Z, Bitbank, and Bitpoint, will suspend bitcoin deposits and withdrawals on August 1 at 00:00 Japan time.
We decided to temporarily stop accepting bitcoin deposits and withdrawals at each exchange…We will stop only the services related to depositing and withdrawing bitcoins, but we will provide our other regular services for virtual currencies and legal currencies. source https://news.bitcoin.com/13-japanese-exchanges-suspend-bitcoin-service-august-1Which show to us that you should get your money out of exchanges as soon as possible, if you don’t your bitcoin will be frozen there and you may not do anything to change that. |
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Amevalentine (OP)
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July 20, 2017, 11:02:55 PM |
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13 Japanese Exchanges Agree to Suspend Bitcoin Service on August 1 The Japan Cryptocurrency Business Association has officially announced its plan on how to deal with the possibility of a Bitcoin protocol split on August 1. Thirteen of the group’s bitcoin exchange members, including Coincheck, Gmo-Z, Bitbank, and Bitpoint, will suspend bitcoin deposits and withdrawals on August 1 at 00:00 Japan time.
We decided to temporarily stop accepting bitcoin deposits and withdrawals at each exchange…We will stop only the services related to depositing and withdrawing bitcoins, but we will provide our other regular services for virtual currencies and legal currencies. source https://news.bitcoin.com/13-japanese-exchanges-suspend-bitcoin-service-august-1Which show to us that you should get your money out of exchanges as soon as possible, if you don’t your bitcoin will be frozen there and you may not do anything to change that. yes, they has been committed with decision will suspend bitcoin deposits and withdrawals on August 1. so by the information for users who has money on those exchanges better moves their money before those time |
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