poloniex, kraken, and period of potential split

[babar123]

hi, I would like to know what if it's okay to keep any bitcoin on exchanges like poloniex or kraken during next period, and what could happen.

I have a very important question that noone could answer me properly, what will happen if i short bitcoin on an exchange now like kraken, is it risky? (knowing i have the same amount on poloniex)
also I would like to know what I will have to rebuy to close my short if the coin would split.

If there is anything to do before the next period, a warning, or so, i will be pleased u share it, i didnt withdraw any bitcoin from exchange, i have fiat on kraken and bitcoin on poloniex, a bit, I hope you will share your advices, thanks

[Ultegra134]

There was a post by the administrator here who advised people not to keep any BTC in exchanges due to the risk of a potential split. However, I think that a split is quite unlikely to happen. Even if it happens, your Fiat balance won't be affected. I've only got Fiat on Kraken.
I don't think anyone can give you a clear answer on whether it's safe to keep coins on an exchange site or not.
Here's the admin's post, you can have a look at it:
https://bitcointalk.org/index.php?topic=2017191.0

[xbiv2]

Use bitcoin-core of 2014 https://github.com/bitcoin/bitcoin/releases/tag/v0.9.1 to save your coins from "soft fork" attempts.
Then sell all fork`s for profiit

[Ucy]

Why not simply exchange Bitcoin for Tether on Poloniex and buy back Bitcoin after August 1. Tether is pretty stable .. I doubt it be affected during the August 1st event.
By the way, you'd most likely not have problems having your Bitcoin on exchanges... seems the splitting issue has been settled.

[SyGambler]

AFAIK poloniex hasn't stated yet what they will do in case of a split , but anyways it's better to not have your coins at the exchange at this period even if the exchange said that they will handle the split well , better be safe than sorry
so my advice isn't to keep any bitcoin in exchanges during this couple of weeks , fiat at kraken should fine tho

[HeRetiK]

AFAIK poloniex hasn't stated yet what they will do in case of a split , but anyways it's better to not have your coins at the exchange at this period even if the exchange said that they will handle the split well , better be safe than sorry
so my advice isn't to keep any bitcoin in exchanges during this couple of weeks , fiat at kraken should fine tho

Poloniex actually has made a fairly clear statement quite a while ago:

https://poloniex.com/press-releases/2017.03.17-Hard-Fork/

However the situation has changed since then (Bitcoin Cash and SegwitX2) and they haven't updated their statement to reflect these changes.

[SyGambler]

AFAIK poloniex hasn't stated yet what they will do in case of a split , but anyways it's better to not have your coins at the exchange at this period even if the exchange said that they will handle the split well , better be safe than sorry
so my advice isn't to keep any bitcoin in exchanges during this couple of weeks , fiat at kraken should fine tho

Poloniex actually has made a fairly clear statement quite a while ago:

https://poloniex.com/press-releases/2017.03.17-Hard-Fork/

However the situation has changed since then (Bitcoin Cash and SegwitX2) and they haven't updated their statement to reflect these changes.

oh didn't know that cause they blocked my country so now even if I want to check their news I can't do that I will get an access denied message
but I checked their twitter , they usually tweet the last news and wasn't able to find that

[HeRetiK]

AFAIK poloniex hasn't stated yet what they will do in case of a split , but anyways it's better to not have your coins at the exchange at this period even if the exchange said that they will handle the split well , better be safe than sorry
so my advice isn't to keep any bitcoin in exchanges during this couple of weeks , fiat at kraken should fine tho

Poloniex actually has made a fairly clear statement quite a while ago:

https://poloniex.com/press-releases/2017.03.17-Hard-Fork/

However the situation has changed since then (Bitcoin Cash and SegwitX2) and they haven't updated their statement to reflect these changes.

oh didn't know that cause they blocked my country so now even if I want to check their news I can't do that I will get an access denied message
but I checked their twitter , they usually tweet the last news and wasn't able to find that

There was also a joint statement by a couple of other exchanges:

http://www.coindesk.com/bitcoin-exchanges-unveil-emergency-hard-fork-contingency-plan/

Nevertheless there's no guarantuee which hardforks they will effectively support in the end. Some forks may very well just end up being ignored. Regardless of whether you trust the exchanges enough or not, I personally wouldn't want to have open orders of any kind during the hardfork windows.

[babar123]

hi, i would like to update the topic, with recent event, with bitcoin cash, and reask if there is an update to my question : 1)should I save my bitcoin on poloniex during the hardfork
2) can I have a short position on poloniex during the harfork

thanks

[pooya87]

hi, i would like to update the topic, with recent event, with bitcoin cash, and reask if there is an update to my question : 1)should I save my bitcoin on poloniex during the hardfork
2) can I have a short position on poloniex during the harfork

thanks

1) keeping coins on exchanges means you may lose coins on one chain. before (the topic by theymos) was about not knowing how the split is going to happen. miners haven't started to signal yet and if 2 chain existed we didn't know which one would succeed and your exchange might have kept the wrong chain.
now we know SegWit has nearly 100% support and there will be one chain only.
as for BCC, keeping on exchange can mean them not crediting you your BCC tokens because it may not even be worth the effort or the risk.

2) shorting is a different story. are you expecting price to fall!! if so do it. and live with the consequences of losing a large sum of money because of it
https://www.google.com/search?q=guy+loses+million+trying+to+short+bitcoin