Which course of action to take? Available options

Dear Traders,

As you have probably noticed, the Bitcoin hard fork did not manage to take place before March, 31st. We strive to keep HitBTC aimed to you and your needs, therefore we decided to arrange a voting and involve you in defining the future of BTC and BTU processing on our platform.

Please see the possible options and choose the one to your liking. If you have any inquiries regarding the process, don’t hesitate to question us in the comments or contact us directly.

 

Option #1: wait a week longer.

  • BTC withdrawals remain locked;
  • You receive BTU while depositing BTC;
  • BTU arbitrage opportunities are at your disposal;
  • In case hardfork happens before April 7th, BTC and BTU withdrawals will be unlocked;
  • In case the hard fork is delayed, you will face this voting again.

Briefly: wait and do nothing.

 

Option #2: enable BTC + BTU withdrawals

  • You’re able to withdraw BTC, but you have to possess equal amount of BTU on your account. When you withdraw BTC, equal amount of BTU will be subtracted from your account.

Explanation:

  1. You have 1 BTC and 1 BTU – you can withdraw 1 BTC, and 1 BTU will disappear from your account;
  2. You have 1 BTC and 0.5 BTU – you can only withdraw 0.5 BTC, and 0.5 BTU will disappear. You should buy more BTU to withdraw the rest, equalizing the amounts of BTU and BTC;
  3. You have 1 BTU and 0.5 BTC – you should sell part of your BTU in order to get the equal amount of BTC and BTU on the account.
  • You continue to receive BTU while depositing BTC;
  • If hardfork happens, you will be able to withdraw BTC and BTU separately, no matter how many BTC and BTU you have on the account.

Briefly: it’s possible to withdraw as many BTC, as you have BTU.

 

Option #3: turn BTU into Ethereum tokens

  • You’re able to withdraw BTC without limitations;
  • Your BTU are turned into tokens based on Ethereum. Volume of emission will be two times more than the total volume of BTU;
  • You don’t receive new tokens while depositing BTC;
  • By trading these tokens you support Bitcoin Unlimited project: for every traded token one goes to them;

Explanation: Should this option win the vote, we are going to contact Bitcoin Unlimited and settle this. We’re planning to transfer eventually 50% of these tokens to Bitcoin Unlimited project. You can participate in this by trading.

  • You’re able to withdraw these tokens to your Ethereum wallet;
  • Should the hard fork happen, you will not receive BTU coins (BTU token is not connected with BTU coin).

Briefly: make BTC and BTU withdrawable and support Bitcoin Unlimited.

 

To sum it up, check out this table:

 

Option 1 2 3
BTC withdrawals active? No Yes (with the same amount of BTU) Yes
Do I receive BTU when I deposit BTC? Yes Yes No
In case hardfork happens, can I withdraw BTU? Yes Yes No (you can only withdraw tokens)
Can I trade BTU? Yes Yes Yes (you will be trading tokens)

 

Is everything clear?

Then you’re ready to vote! Voting will last until April 4th.

Vote!

22 Responses

  1. Javier Carballo March 31, 2017 / 21:00

    Option 3

  2. franco March 31, 2017 / 22:31

    opción 3

  3. jonatan March 31, 2017 / 23:07

    opcion 3

    • Saulo April 1, 2017 / 12:44

      Opcion 2

  4. Jose Maria Espiritu April 1, 2017 / 02:19

    I don’t have a twitter account. I can’t vote but I like option 3

  5. Leonid Stepanov April 1, 2017 / 02:36

    Option 3

  6. igor April 1, 2017 / 03:14

    Option 3

  7. RASH April 1, 2017 / 04:03

    3

  8. joao April 1, 2017 / 05:20

    VOTE 3 Enable withdrawals btc funds

  9. Bazzalan April 1, 2017 / 06:10

    Option #3: turn BTU into Ethereum tokens

  10. Rahul April 1, 2017 / 06:37

    Option 3 is the best…
    Start btc withdraw as soon as possible

  11. 7panteleevivan April 1, 2017 / 06:42

    Вариант 3

  12. Yassine Dorgaa April 1, 2017 / 12:20

    Option 3 or Option 2

  13. amir April 1, 2017 / 13:50

    option 3

  14. rickycaracas April 1, 2017 / 14:54

    2

  15. Alexis Chile April 1, 2017 / 15:45

    Opción 1

  16. metka255 April 1, 2017 / 18:59

    Вариант 3

  17. jesse April 2, 2017 / 01:46

    think wisely #2 i voted since #3 kills btu

  18. Joe April 2, 2017 / 21:25

    Your option 2 makes no sense.

    Suppose we deposit ETH, use that to buy BTC. According to option 2, we cannot withdraw this BTC, because we have no BTU.

  19. Andy April 4, 2017 / 17:25

    Option 3

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