BL3P

Price (BTC)
4.660,26
24h volume
480.84
Market
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Bitcoin Cash

As a result of majority miner support for SegWit2X the risk of a user-activated-soft-fork (UASF) causing a split in the Bitcoin network has been minimised. However, Bitmain, a large mining hardware manufacturer, has indicated it still wants to force a split of the Bitcoin network through a user-activated-hard-fork (UAHF). The new Bitcoin software that has been developed since, Bitcoin ABC (Adjustable Blocksize Cap), will allow larger blocksizes. This change in the Bitcoin ABC software is incompatible with the rest of the network. This incompatibility is likely to cause a hard fork (split of the Bitcoin blockchain) around 14:20 (CEST) on August 1st. All bitcoins currently in existence will be “copied” and spendable as “Bitcoin Cash” (BCC).

BL3P’s stance on Bitcoin Cash

BL3P considers Bitcoin Cash to be an altcoin. It is likely this altcoin will have some value as it will be traded on several exchanges (Currently, so called 'futures' of BCC are already being traded for about $300-$400). The future value is hard to predict and it is unsure whether the software run by Bitcoin ABC is sophisticated enough to allow it to continue as an independent coin without issues.

BL3P will make a “snapshot” of all its users’ bitcoin balances at the exact moment the hard fork occurs, but will not facilitate deposits and withdrawals or support a trading pair for this altcoin. Should Bitcoin Cash become a stable, reliable new cryptocurrency with clear added value, BL3P will consider supporting a BCCEUR currency pair and/or enable deposits and withdrawals. Your BCC balance will be the same as your BTC balance at the time of the snapshot.

What actions should you take?

Your bitcoins are safe on BL3P. No action is required if you do not believe Bitcoin Cash will gain widespread support. Should Bitcoin Cash gain widespread support, it is likely that you will see a BCC balance in your BL3P account in the future.

Note that it is possible that BCC might represent significant value on other exchanges right after the hard fork, while you will not be able to a access your BCC on BL3P. If you want to be able to sell your BCC, we recommend that you withdraw your bitcoins from BL3P to a wallet in your own control before the end of July 31st. You will then be able to import the private keys from your wallet into a wallet that supports BCC (Caution: be careful with your private keys and ensure the wallet you are importing them into is reliable!). You will then be able to separately send your BTC back to BL3P and your BCC to another exchange.