PocketBits BitcoinCash Distribution 15th August
We are glad to announce the Distribution of Bitcoin Cash to our respective Users holding bitcoins with us at the time of the Bitcoin Hard Fork.
We had previously announced in a statement titled “PocketBits Aug 1st UAHF/ BitcoinCash” that we would not support Bitcoin Cash as it’s just a new altcoin and not a new Bitcoin. We are still firm on that stance.
Due to our notifications 80% of users initiated withdrawals and contacted us on how to store them safely. We are pleased that Indian Crypto Users are taking such interest in security and had a chance to help them with securely storing Bitcoins with them holding their own private keys. One thing that came out of this so called “fork” is that awareness about security and storing bitcoins grew among new users. I would like to take this opportunity to thank our exceptional support team in assisting and helping our users in the transition process. However, a more daunting task lies ahead.
20% of our users had left their Bitcoin with us due to the uncertainty about the fork. We were honored by their faith and trust in us to securely hold their bitcoins through such a critical event. Us supporting a new altcoin or not does not necessarily mean we will use our User’s funds to claim those altcoins (BCH) and make a payday out of it. BitcoinCash was distributed to all the current users of Bitcoin, and you as a PocketBits user have entrusted us to safeguard your bitcoins on our platform. We believe that even if you don’t control the private keys, the underlying asset is still owned by you.
We were, and still are skeptic of the new coin BCC/BCH as it was released in a hurry without any prerequisites or testing by the founders of BCC/BCH. The same, can lead to an unstable network. With the recent news of malleability attacks and no proper infrastructure to Use, Store or Claim it.
Without going much deeper into the complexities we faced in securely claiming BCC/BCH for our users without staking the real Bitcoins, we will start the claiming process as of today 5th August 2017 and the final distribution will be held on 15th August 2017.
Kindly contact PocketBits Support Team via email or website chat for faster response and our team will help you through the claiming process.
As the BCC network is not yet stable to integrate it into our platform effectively it is not feasible for trading or withdrawal and deposits like Bitcoin is. We will allow our users to claim whole of the BCC amount at once and not in parts. Users can withdraw it to wallets or exchanges that support BCH/BCC deposits. Updated list of the Exchanges and Wallets supporting BitcoinCash can be found at https://www.bitcoincash.org/
Please note that the distribution dates are tentative and can take longer to distribute if technically not feasible. If the Bitcoin Cash Network is not stable at the time of distribution we reserve the right to delay the process briefly during this period Users BCH/BCC will be stored safely in our Cold Storages.
