Liberalcoins Blog

BTC Fork Statement

Dear Liberalcoins user,

In light of the current Proposed changes to the Bitcoin network we want to provide an update on what this would mean for Bitcoin stored on Liberalcoins.com.

Our first priority is the safety of customer funds. In the event of a fork, we want to ensure you that your digital currencies (Bitcoin, Litecoin, Dash and Monero) are safe.

On August 1st, 2017 there is a proposal to make changes to the bitcoin software. This proposal, known as Bitcoin Cash, is likely to create a fork in the Bitcoin network. This means that after August 1st, 2017 there are likely to be two versions of the Bitcoin blockchain and two separate digital currencies.

In the event of two separate blockchains after August 1, 2017 we will initially only support the original existing Bitcoin version. We will provide further updates if there will be any support for Bitcoin Cash in the future as we have to monitor the viability and demand in the market.

As there will be two separate digital currencies โ€“ bitcoin (BTC) and bitcoin cash (BCC) โ€“ users with Bitcoin stored on Liberalcoins will only have access to the current version of bitcoin we support (BTC). Users will not have access to, or be able to withdraw, bitcoin cash (BCC).

Users who wish to access both bitcoin (BTC) and bitcoin cash (BCC) need to withdraw bitcoin stored on Coinbase before 11.59 pm PT July 31, 2017. If you do not wish to access bitcoin cash (BCC) then no action is required.

We plan to temporarily suspend bitcoin buy / sells, deposits and withdrawals on August 1, 2017 as the fork is likely to cause disruption to the bitcoin network. This means your funds will be safe but you will be unable to access your bitcoin (BTC) for a short period of time.

We will keep you updated on this event through our Blog, Facebook and Twitter.

 

Thank you,

Liberalcoins Team

 

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