Announcements of Exchanges regarding giving bitcoin holders 'their BitcoinCash'

[uki]

Hi there!


Are there any official Announcements of Exchanges regarding giving bitcoin holders 'their BitcoinCash' or just keeping it for themselves?

I sent a question to bitstamp support

here you have Bittrex statement:
https://support.bittrex.com/hc/en-us/articles/115000761392
 

that has nothing to do with bitcoin cash and their hard fork.
this bittrex support article is explaining their actions regarding BIP91 and the period that SegWit is being activated and blocks not signaling for BIP91 be rejected by miners and orphaned.

Check the last sentence.

[Serpens66]

The only exchange I know that wrote something about bitcoin Cash is "coinfloor". All others only wrote something about segwit stuff, not about bitcoin cash, as far as I know.
http://blog.coinfloor.co.uk/post/163379984881/coinfloors-policy-with-respect-to-bitcoin-and

[Serpens66]

bitcoin.de announced that they will allow withdrawal of Bitcoin Cash ~end of august, if the coin still exists then.
german statement:
https://www.coinforum.de/topic/6679-statement-von-bitcoinde-zu-bitcoin-cash/

[mindrust]

Why do you care about exchanges anyway?

If everybody withdraws their coins from the exchanges that will create a massive coin sink and exchanges will have to do something about it. If the majority don't give a shit about BitcoinChinaCoins, then the exchanges also won't give a flying fuck.

If you care some much about the extra bucks you'll get from ChinaCoins, just withdraw your bitcoins. (I do personally, It is free money)

This is a free market. If there is demand, there will be supply. Some other exchange will provide the supply if enough people removes their coins.

[Serpens66]

Cex forum statement about bitcoin cash:
https://bitcointalk.org/index.php?topic=318010.msg20375256#msg20375256

[Roccker]

I told them to make an announcement and they did


https://www.bitstamp.net/article/bitcoin-hard-fork-our-position/

Bitcoin Hard Fork: Our Position
27 JUL 2017

We would like to take this opportunity to let our customers 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 our customers and their 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 this 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 our customers’ 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 our customers to decide whether to withdraw their BTC funds from Bitstamp prior to this cut-off date if they 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 our customers and their 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

[Serpens66]

Bitfinex:
https://www.bitfinex.com/posts/212

Poloniex:
https://poloniex.com/press-releases/2017.07.24-Our-plans-to-handle-potential-BTC-network-disruptions/

[Roccker]

Bitstamp does not give bitcoin cash.

But Bitfinex does!

https://www.bitfinex.com/posts/212/review

Bitcoin Cash (BCH) Token Distribution
July 27, 2017

A minority of Bitcoin miners will be forking on August 1st, 2017 to create a new chain called Bitcoin Cash. The fork does not impact Bitcoin balances, but it creates a new token. At the time of the fork, all Bitcoin addresses holding a balance will automatically have equivalent balances in Bitcoin Cash.

There has been a variety of responses by the community about how to handle this new token. After a significant show of interest from our customers, we have decided to take steps to facilitate the distribution of Bitcoin Cash balances to those holding a settled Bitcoin balance on Bitfinex. We may also list markets for this new token, but that decision will be made after the fork event.

Although we see this token referred to as BCC on other platforms, unfortunately, that ticker symbol is already in use on our platform by the chain-split token representing Bitcoin Core. As such, we plan to use BCH as the ticker symbol and “Bcash” as the descriptive name to avoid confusion with Bitcoin.

Although several months ago, we developed a methodology for handling contentious hardforks, we will be applying a different methodology for what we regard as a spurious forking of the Bitcoin project with little mining support. Although we have not supported such Bitcoin UTXO-based distributions in the past (Stellar Lumens, Clams, etc.), we will support the distribution of Bitcoin Cash due to significant customer interest.

Distribution Policy

BCH will be distributed to settled bitcoin wallet balances as of the UTC timestamp of the first forking block, which is expected to occur on August 1st, 2017.

The token distribution methodology will be:

    All BTC wallet balances will receive BCH
    Margin longs in BTC/USD and margin shorts in XXX/BTC will not receive BCH
    Margin shorts in BTC/USD and margin longs in XXX/BTC will not pay BCH
    BTC Lenders will receive BCH

Due to the net amount of BTC committed in margin positions at the time of the fork, the above methodology may result in Bitfinex seeing a surplus or deficit of BCH. As such, we will be resolving this discrepancy in the form of a socialized distribution coefficient. For example, currently, there are more longs than shorts on the platform, causing a distribution coefficient of ~1.091 (Meaning that for each qualifying BTC a user will receive 1.091 BCH). The actual coefficient will be calculated at the moment of the distribution. Please note that if there are more shorts than longs at the fork event, this coefficient will be less than one. This coefficient can be roughly computed from publicly available information from our API (longs & shorts) and the Blockchain (cold storage).

We recognize that this model is not perfect, but given the short time frames imposed upon us, better choices are not available. It would be an undue burden to create negative BCH balances for BTC/USD shorts and XXX/BTC longs. Furthermore, lenders may be locked in for up to 30 days and would be adversely impacted. In the end, we believe that this solution creates the least amount of disruption and facilitates a timely distribution of BCH.

Margin longs who wish to receive BCH should consider either claiming some or all of their position or exchanging and holding BTC collateral in their margin wallet as opposed to other assets. We hope to make withdrawals available soon after the fork, assuming everything is fine with the BCH blockchain.

Once again we want to reassure our customers that your bitcoin is safe and this event will not affect your bitcoin balances, positions, or loans - you will simply be receiving an additional token balance based upon the aforementioned methodology.

So, i'll send my bc to bitfinex for this thing.



When do you think is a good / latest time to send the bitcoins, so they are surely there (with all the confirmation thing that can get clunked up when everybody does it last minute to get bitcoin cash?)

[Roccker]

http://hackingdistributed.com/2017/07/29/bitcoin-impending-accounting-disaster/

that sounds bad

basically bitfin giving people who shorted btc also bitcoin cash


but actually what he is talking about cannot happen i guess because bitfinex writes:

Due to the net amount of BTC committed in margin positions at the time of the fork, the above methodology may result in Bitfinex seeing a surplus or deficit of BCH. As such, we will be resolving this discrepancy in the form of a socialized distribution coefficient. For example, currently, there are more longs than shorts on the platform, causing a distribution coefficient of ~1.091 (Meaning that for each qualifying BTC a user will receive 1.091 BCH). The actual coefficient will be calculated at the moment of the distribution. Please note that if there are more shorts than longs at the fork event, this coefficient will be less than one. This coefficient can be roughly computed from publicly available information from our API (longs & shorts) and the Blockchain (cold storage).

-> it means i get less bitcoin cash for my bitcoin
because now everyone and his dog shorts, to get more bch

oh my

[notme]

http://hackingdistributed.com/2017/07/29/bitcoin-impending-accounting-disaster/

that sounds bad

basically bitfin giving people who shorted btc also bitcoin cash


but actually what he is talking about cannot happen i guess because bitfinex writes:

Due to the net amount of BTC committed in margin positions at the time of the fork, the above methodology may result in Bitfinex seeing a surplus or deficit of BCH. As such, we will be resolving this discrepancy in the form of a socialized distribution coefficient. For example, currently, there are more longs than shorts on the platform, causing a distribution coefficient of ~1.091 (Meaning that for each qualifying BTC a user will receive 1.091 BCH). The actual coefficient will be calculated at the moment of the distribution. Please note that if there are more shorts than longs at the fork event, this coefficient will be less than one. This coefficient can be roughly computed from publicly available information from our API (longs & shorts) and the Blockchain (cold storage).

-> it means i get less bitcoin cash for my bitcoin
because now everyone and his dog shorts, to get more bch

oh my

Yep.  If you don't play the game, but you have BTC on bitfinex then you are paying everyone else who is playing the game.  Bitfinex is retarded and this won't end well for them.

[Roccker]

So i sent my bitcoin from Bitfinex to electrum now.
Was that too late?


I guess the worst case is i only get the bitcoin cash from Bitfinex.
It can't be that because my Bitcoin are 'in transit' that i get none, can it - of course not, BC always have to be somewhere.


Damn i am nervous and happy when bitcoin end up in my electrum (and not just not arrive or something like in a bad dream oh my, i am neurotic)


Ok, now it shows up in electrum as 'Unconfirmed parent'
How long would you guess this takes
What happens when fork happens in this state

Okok, now it's the watch
i guess all is good

...
ok, done now

[mobnepal]

Yobit have already added BCC to their user's balance according to bitcoin balance they have in their yobit wallet.

Btc deps/wds will be disabled in 14-15 hrs.
BCC balances will be added to accounts (same as BTC balance).

https://twitter.com/YobitExchange/status/891789229897986048

Bitcoin Cash [BCC] trade is open: https://yobit.net/en/trade/BCC/BTC …
BCC added to users balances. BTC deps/wds are disabled now.

https://twitter.com/YobitExchange/status/892050834858684417

[Roccker]

https://www.coindesk.com/bitcoin-cash-101-need-know-tomorrows-fork/

Coindesk says electrum does not support bcc
That is wrong, isn't it?

[krizniq]

https://www.coindesk.com/bitcoin-cash-101-need-know-tomorrows-fork/

Coindesk says electrum does not support bcc
That is wrong, isn't it?

not sure, but electrum should be able to have both...

# Release 2.9 - Independence (July 27th, 2017)
  * Multiple Chain Validation: Electrum will download and validate
    block headers sent by servers that may follow different branches
    of a fork in the Bitcoin blockchain. Instead of a linear sequence,
    block headers are organized in a tree structure. Branching points
    are located efficiently using binary search. The purpose of MCV is
    to detect and handle blockchain forks that are invisible to the
    classical SPV model.
  * The desired branch of a blockchain fork can be selected using the
    network dialog. Branches are identified by the hash and height of
    the diverging block. Coin splitting is possible using RBF
    transaction (a tutorial will be added).

[krizniq]

nope - correction

looks like it does not support it automatically
https://electrum.org/bcc.txt

[Roccker]

Thanks!


+ oh fuck

Ok, everything back to bitfinex again.
Argh.



Here is countdown to hardfork - 15 hours is right, is it?
https://www.timeanddate.com/countdown/launch?iso=20170801T1220&p0=1440&msg=Bitcoin+Cash+Hardfork&font=sanserif


Can i also do this stupid bitfinex trick?
Without it being a taxable action

[krizniq]

i'm pretty sure you do not have to trust bitfinex in this matter, just try this (found on reddit)

I think this was also posted somewhere else on reddit. Sorry don't know who to give credit to.
'Before 1st August You should have BTC in Electrum wallet (Wallet A).
After 1st August Install another Electrum Wallet (Wallet B).
Move all BTC from Wallet A to Wallet B. Wallet A should be empty of BTC, but there should be hidden BCC inside it.
Export seed of Wallet A
Install any BCC wallet (Wallet C).
Import seed of Wallet A into Wallet C. Wallet C should now have BCC amount equivalent to BTC in Wallet B.
From now on, use Wallet B and Wallet C independently.'

as far as you are owner of the private keys, you should be fine with any wallet. If it is not done automatically it doesnt mean you will not get BCC. You are not getting BCC only if you don't have your private keys (eg. exchange wallets or online wallets)

I do have electrum, but i do not plan to shift by BTC around till I'll be sure that it's working correctly

[Roccker]

Ok, thanks!
Sounds not too bad