Topic: Hard fork statement by freebitco.in (Read 847 times)
Freebitco.in is just preparing for what's coming and it had been one of the legit faucets sites I've played with too. I wouldn't be too scared if bitcoin splits in two, it would be an advantage to those who owns and holds bitcoin. But if you really feel you're not safe keeping your bitcoins stored in Freebitco.in then I think you should also trust your instincts. In the end it would still be your decision if you'll withdraw them or not.
Me also i have satoshi stored in this site but i do not want to withdraw all my balance there because freebitcoin is one the legit faucet/gambling site that is why im not worry about my remaining balance. But for safety it is also good to withdraw your bitcoin then invest when the splitting is done.
The statement they released is actually something a reasonable business man would do and thats what will eventually happen whether one keeps the coin himself or not and I think all the fear being expressed is what is driving the price down because quite a number of people are now pulling out their coins of the exchange sites at the moment. And I am happy that freebitco.in came out to allay the fears of the users accordingly.
I really believe that they play on the interest of their users, they don't want to lose them. They have been in the game for a long time for them to not follow their words. However they are doing the right thing enabling users to withdraw on the winning chain (an other) also it is good to see that some services are looking into this issue and to say how they will deal with this situation. No need to follow your fears, fear is the one of the main things why people don't do the thing they need to do. In my opinion you can trust them, don't worry 
since when are we discussing the statements from faucets regarding bitcoin and hard forks? 
The power of indos is amazing... it could cause a true cluster fuck.
wkwkwk :<
since when are we discussing the statements from faucets regarding bitcoin and hard forks?
Maybe they are not very influential in terms of number of coins held, but still they are a part of Bitcoin community, and it's interesting to know their stance on possible fork. If I understand them correctly, they essentially said "we will call Bitcoin whatever chain will have the most mining power". Exchanges took a different stance - they will call Bitcoin the chain developed by Bitcoin Core. Many new users are confused about the possible fork and what chain should they support, and in some cases it might be services like faucets or exchanges who will influence the users in their opinion about the fork.
since when are we discussing the statements from faucets regarding bitcoin and hard forks?
That's a slightly unfair statement. I think the site is one of the most reputable crypto businesses online, by virtue of years of operation, community engagement and a noticeable dearth of scam accusations. And his coming out to say that people will get 2 coins in case of a split is a lot more than most other sites or services would ever do.
You can of course speculate that it's a pre-emptive move to prevent withdrawals, but what's stopping people from doing so, anyway?
HARD FORK STATEMENT
Recently, there have been discussions about the possibility of a bitcoin hard fork happening so we wanted to address the issue for users who have their coins stored with us.
We feel that the possibility of a hard fork has been greatly exaggerated, however we are prepared to deal with it if it does happen.
If there is a hard fork, we shall always follow the longest chain (the chain with the most proof of work) as our primary coin. Bitcoins on the secondary chain however, will be made available for withdrawal by users after there has been a clear winning chain. So for each satoshi that users have with us, they will receive 2 (or more if there are multiple forks), one on the longest chain and one in the minority chain/s.
Recently, there have been discussions about the possibility of a bitcoin hard fork happening so we wanted to address the issue for users who have their coins stored with us.
We feel that the possibility of a hard fork has been greatly exaggerated, however we are prepared to deal with it if it does happen.
If there is a hard fork, we shall always follow the longest chain (the chain with the most proof of work) as our primary coin. Bitcoins on the secondary chain however, will be made available for withdrawal by users after there has been a clear winning chain. So for each satoshi that users have with us, they will receive 2 (or more if there are multiple forks), one on the longest chain and one in the minority chain/s.
Thats fair for the users. If every service made such statement, there would be no reason for any hardfork drama anymore.
If the user does have large amount of bitcoins, it would be much better and safer to move his bitcoins to a cold wallet for storage rather than keeping it in online wallet or exchanges, the chances for a fork to happen on 1st august is relatively low, but it is better to be safe than sorry, I have already transfer most of my bitcoins into my cold wallet too.
Any huge amount of bitcoin should be withdrawn and safely stored somewhere very safe. Don't take risks that is very high. But if what you are storing in freebitco.in is not really that big deal, trust them. They are there for a while already. They are taking some measures to make sure their client and their client's bitcoins are safe.
That's the best advice if the amount of bitcoin you have any where online is huge then you should move your bitcoin to offline wallet and if it's not that big amount then I don't think there's much to panic. It's no doubt that freebitco has been one of trustworthy sites but it's wise to take necessary precautionary measures. 
since when are we discussing the statements from faucets regarding bitcoin and hard forks?
Any huge amount of bitcoin should be withdrawn and safely stored somewhere very safe. Don't take risks that is very high. But if what you are storing in freebitco.in is not really that big deal, trust them. They are there for a while already. They are taking some measures to make sure their client and their client's bitcoins are safe.
freebitco.in is proven over the years crane. Even if there will be any problems with personal accounts of the specific harm it will not bring as the amount of users is very small. It seems to me that such a statement is just a PR campaign.
Freebitco.in is as legit as they come, probably one of the longest bitcoin projects operating and the oldest paying faucet.
If it is a considerable portion of your portfolio consider withdrawing, plus, I also don't believe a fork is going to happen.
If it is a considerable portion of your portfolio consider withdrawing, plus, I also don't believe a fork is going to happen.
Like they said, we should be prepared for the worst scenario if the chain will split. Many people have withdraw their funds/bitcoin out of the exchanges and just put few amounts just in case. Well, as long as your exchanges is trusted, then there's nothing to worry about.
The most important thing is whether this segwit2x will be activated and works for bitcoiners without big problem/bugs which cause harm for bitcoin environment.
The most important thing is whether this segwit2x will be activated and works for bitcoiners without big problem/bugs which cause harm for bitcoin environment.
I actually have some of my coins stored on this site and I was already thinking of moving them out when I saw this on their site this morning.
What do you guys think? Still trying to wonder if I could trust this statement or just follow my fears
Quote
HARD FORK STATEMENT
Recently, there have been discussions about the possibility of a bitcoin hard fork happening so we wanted to address the issue for users who have their coins stored with us.
We feel that the possibility of a hard fork has been greatly exaggerated, however we are prepared to deal with it if it does happen.
If there is a hard fork, we shall always follow the longest chain (the chain with the most proof of work) as our primary coin. Bitcoins on the secondary chain however, will be made available for withdrawal by users after there has been a clear winning chain. So for each satoshi that users have with us, they will receive 2 (or more if there are multiple forks), one on the longest chain and one in the minority chain/s.
Recently, there have been discussions about the possibility of a bitcoin hard fork happening so we wanted to address the issue for users who have their coins stored with us.
We feel that the possibility of a hard fork has been greatly exaggerated, however we are prepared to deal with it if it does happen.
If there is a hard fork, we shall always follow the longest chain (the chain with the most proof of work) as our primary coin. Bitcoins on the secondary chain however, will be made available for withdrawal by users after there has been a clear winning chain. So for each satoshi that users have with us, they will receive 2 (or more if there are multiple forks), one on the longest chain and one in the minority chain/s.
What do you guys think? Still trying to wonder if I could trust this statement or just follow my fears
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