Hey Exchanges, Big Blockers want to trade BIP148 BTC on Aug 1 – Let ‘Em

Ticker

1 BTC = $33919.76 USD  (via Coinbase)
1 ETH = $2146.23 USD  (via Coinbase)
1 LTC = $124.06 USD  (via Coinbase)
Quotes delayed up to 2 minutes.

Kryptous

Crypto Coins News - Ratings - Reviews

1 News - 247 News - 247 Bitcoin - 1 Search

BTC - BCH - ETH - LITE - XRP

Buy Sell Trade Crypto Here

 

Comments in this [1] rBTC post show that many anti-UASF users ("Big Blockers", but call them whatever you like) intend to buy some BIP148 BTC and almost as many also want to sell it. UASF supporters want to trade LegacyBTC/BIP148BTC for similar reasons. That, ladies and gentlemen, is a market.

I wrote in [2] that any crypto exchange that refuses to service and protect their customers by supporting BIP148 if the chains split isn't "neutral" but hostile to its BTC (and others, who trade in BTC-denominated assets) customers. Now we see that it is not just the UASF supporters who want the BIP148 option, but BTC users in general, which shows my analysis was true. Yesterday I wrote another post [3] which aims to pinpoint one possible reason why exchanges are ignoring UASF BIP148, but it didn't even get listed in New posts.

It's clear BarryCoin (FrankenSegWit) is going to be divisive and unlikely to be widely accepted which means UASF BIP148 is going to attract even more users prior to August 1. Exchanges without BIP148 support are likely to experience mass withdrawals in July. In recent days and weeks we've seen cases (search this subreddit for withdrawal issues) where due to various reasons such as new KYC rules, congestion, higher transaction fees, and long support queues, users cannot get to their BTC in a timely manner. Does anyone seriously think it's going to be better in July?

Almost everybody wants BIP148 BTC wallets to be available. Many will use them, some a lot.

Exchanges should announce support for BIP148 BTC wallets by end of June to prevent panic in July and protect customers from losses and confusion in August. Those who ignore BIP148 will lose customers and face additional issues.

[1] How to Protect yourself during UASF

[2] Any BIP148-Hostile Exchange is a User-Hostile Exchange

[3] Crypto Exchanges are Centralized Man's Payment Channels

submitted by /u/eustan
[link] [comments]

Kryptous

Crypto Coins News - Ratings - Reviews

1 News - 247 News - 247 Bitcoin - 1 Search

BTC - BCH - ETH - LITE - XRP

Buy Sell Trade Crypto Here

 

Ticker

1 BTC = $33919.76 USD  (via Coinbase)
1 ETH = $2146.23 USD  (via Coinbase)
1 LTC = $124.06 USD  (via Coinbase)
Quotes delayed up to 2 minutes.

Leave a Reply