HTMLCOIN UPDATE - 12 DECEMBER 2017Regarding Yobit swap & plans moving forwardThe time has come for us to share some of the messages and frustration we have been dealing with over the past month.
As you know, the last communications between the HTMLCOIN team and Yobit involved Yobit having difficulty compiling HTMLCOIN’s new wallet source. Though the HTMLCOIN team provided the necessary support on this request and provided a working solution, the team has not received any official response from Yobit.
*messages read bottom to top*
https://i.imgur.com/1dMD8No.jpgSince that message, all of our communication with Yobit has been through unofficial sources and with individual developers and moderators. We no longer understand Yobit’s agenda or motivation, and we can only assume the issue is not money, as the usual swap fee is held in escrow in Yobit’s system through their 1-4 day premium maintenance service. Unfortunately, it has become clear that Yobit is either not capable of completing the compilation or is no longer interested. What other exchanges did in less than one hour, Yobit has not completed in 3 weeks.
Whether Yobit is no longer interested or simply doesn’t have the resources/skills to complete the swap, we don’t know and can only speculate.
Months before the swap started, we agreed with Yobit on the process where Yobit would open deposits and then would automatically swap all users’ coins once the new wallet was available. Yobit maintained all along that they were ready to swap (the swapped coin was originally going to be named CSSCOIN but was later named HTMLCOIN):
*messages read bottom to top*
https://i.imgur.com/dSFZqpE.jpgAnd once everything was in place, the HTMLCOIN team reached out to begin the swap. Yobit, again, confirmed they would complete the swap.
*messages read bottom to top*
https://i.imgur.com/nqlPLk3.jpgThough the HTMLCOIN team followed Yobit’s procedures for the swap and provided the .5 BTC payment, over the past weeks, Yobit has not only failed to complete the swap, worse, they have simply stopped responding to our communication!
Yobit has not fulfilled their promise. Blockchain is a decentralized technology. No one owns it. The role of the Foundation and core team is to manage and upgrade the core software on GitHub, and exchanges use this software to manage transactions on your behalf. We have no direct influence over the exchange or the blockchain, and it is the exchanges’ responsibility to keep their software up to date as users choose to purchase exchange services off them with their fees.
This does not appear to be happening at Yobit, and they are not behaving as custodians of the blockchain or their users’ accounts as their users agreed with them when we all joined the exchange. The HTMLCOIN Foundation regrets that Yobit has chosen to deal with the community and their users in this manner. Unfortunately, we can not do anything on Yobit’s platform without their involvement. It is their site, their database. We can not do anything to see users’ wallet balances or to retrieve user data.
The HTMLCOIN Foundation is now redirecting its resources to move forward assuming Yobit will not complete this swap. We still want Yobit to complete the swap, but holding out hope is damaging the project. So, we are getting ready to move to Plan B.
Plan B will involve an immediate non-anonymous procedure for swapping (where you will have to communicate your HTMLCOIN balance at Yobit to the HTMLCOIN team) and will also include an anonymous procedure for swapping manually. The anonymous manual swap will require Yobit to open withdrawals of HTML5, and we have already begun petitioning them to do so. The anonymous manual swap comes with the risk of a user withdrawing HTML5 coin to his or her HTML wallet and losing those coins. Because of this, we are building an additional web tool to allow users to swap directly from the Yobit HTML5 wallet to a valid HTML wallet.
We will update you with details on the non-anonymous swap procedure as well as progress on the anonymous swap procedure as this information comes available. This method could easily take many weeks due to sheer volume and number of users, and before we start we would encourage you to find friends you know and trust and consolidate your Yobit wallets using Yobicodes for a faster swap.
The old HTML5 is a decentralized currency and does not belong to anyone and cannot be controlled by anyone. Everyone is free to choose what they would like to do with their coins. We encourage you to follow up with Yobit regarding their commitment to upgrade the HTML software in line with your user agreements and their commitments to the Foundation.
We will continue to contact Yobit while we proceed to and with Plan B. We hope they realize HTML is not giving up like other projects have, and we will move on, with or without them.
Join the conversation on our official Telegram group: https://t.me/htmlcoinofficial