ethtrade.org statement about the bitcoin fork

Finally, Ethtrade.org gave their statement about “Bitcoin Fork” that is about to happen!

Today, many people are getting prepared for the SegWit or so called soft fork that is about to happen. SegWit should be completed by August 1st and if not a hard fork or Bitcoin Unlimited may also happen which means it could split the blockchain into two. It could be more complicated to adjust with if that happens. But let’s see what Ethrade has to say about the current situation.

We all know that many investment and trading companies are currently holding or temporarily disabling any incoming or outcoming transactions using Bitcoin Network to avoid any losses while migration or upgrade of the network is happening.

 

Ethtrade.org seems to be doing that at the moment. On their current post, they said that:

 

” Due to all latest news Ethtrade platform & traders takes a pause – holiday for the time of SegWit from 24th of July till 7th of August (preliminary), unless the situation with Bitcoin is clear and predictable enough to continue safely, if the situation remains unstable there is a holiday extension possibility. ” ~ Ethtrade News 

 

They seemed to be pausing their trading activities, but they didn’t really mention that they will be temporarily closing any transaction activities. Although, they said that everyone should be cautious about making any transactions from August 1 to 15, some of my friends who use Ethtrade are having issues in depositing and withdrawals at the moment. They were quite few and I’m guessing that their wallets couldn’t make any transactions at this stage too. But there’s no latest news about it. We’re hoping to get updates as well from Ethrade about it.

 

Now I also want to share with you guys that based on Ethtrade’s Statement about what’s going on they would like to assure the users that they are prepared for whatever side effects that this SegWit can cause in the future. They are also looking forward not to have any split chain to avoid any complexities when it comes to adjustment. You may want to check the full article by Ethtrade to know more about it.

Any comments?