Topic: Latest News from Livecoin (Read 464 times)

As far as I saw this is the first acceptable exchange which is announcing their clients.

Till now the biggest like an simple example poloniex not even cared about the next fork.

It is also nice that they are open to changes and maybe the other bitcoins will have the possibility to be traded on livecoin.

These are valuable information passed on from livecoin, I really appreciate livecoin for supporting the customers also in the August event. It is truly fair and just if ever bitcoin does happen to split into two. I'm sure it will be updated from time to time before the August 1 event.

To all Bitcoin holders,
This is another latest update from LIVECOIN dated July 17, 2017.

Quote:

BTC NODE UPDATE
Created 17.07.2017 19:12

Dear clients, update of BTC node will take place tomorrow, hence deposits/withdrawals will not be available for approx. 1 hour. This is a part of our preparations to increasing of block size.

Actually it's a good information for all livecoin user though. Even my local bitcoin trading site also give us information like that too, this means that websites are good and to inform us as a customer. Imagine if livecoin is not announce that to us and many bitcoins stuck on livecoin.

Quote:

Preparation

If you accept bitcoins as payments, we recommend that you stop accepting Bitcoin payments at least 12 hours before Tue Aug 01 2017 08:00:00 GMT+0800 (China Standard Time), although 24 to 48 hours earlier may be safer. This will give time for all pending payments to confirm on the Bitcoin block chain before the event.

If you send bitcoins as payments, note that many services may stop accepting bitcoins at Tue Aug 01 2017 08:00:00 GMT+0800 (China Standard Time) or earlier.

Be wary of storing your bitcoins on an exchange or any service that doesn’t allow you to make a local backup copy of your private keys. If they accept transactions during the event, they could lose money and will likely spread those losses across all their users. If there end up being two or more competing versions of Bitcoin, then they may refuse to give you your bitcoins on versions they don’t like.

Bitcoin may experience significant price fluctuations in relation to other currencies. Learn more about price volatility and ensure you aren’t holding more bitcoin than you can afford to lose.
[/quote]
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This is the continuation from the given link.
Hope it will be a helpful reminder for all Bitcoin wallet holders.
Thanks.

Quote:

During the event

Do not trust any payments you receive after Tue Aug 01 2017 08:00:00 GMT+0800 (China Standard Time) until the situation is resolved. No matter how many confirmations the new payment says it has, it can disappear from your wallet at any point up until the situation is resolved.

Try not to send any payments. During the event there may be two or more different types of bitcoin and you may send all of the different types to a recipient who only expects one type. This would benefit the recipient at your expense.

Be wary of offers to allow you to invest in the outcome of the event by “splitting” your coins. Some of these offers may be scams, and software claiming to split your coins can also steal them.

After the event

We will update this section with more information after Tue Aug 01 2017 08:00:00 GMT+0800 (China Standard Time). Please monitor this page accordingly and wait until multiple news sources that you trust have stated that the event is resolved before returning to normal Bitcoin use.

Well this is just normal since livecoin including other exchanges, both local and foreign exchange are also having problems with regards to the changes in bitcoin protocol on August 1. Almost all of them have already posted announcement that on starting August 1 they will disable the deposit and withdrawal of bitcoin. This is for the protection of the clients as well as system adjustments for the exchanges. This will be one of the biggest changes in the bitcoin system in the history and it is also one of the most troublesome change. Let us just hope that there will be no split and that all miners will go with and support BIP 91 to make things easy.

Nothing looks surprising. Each and every exchange has started to give its users the notification regarding the limitations in the withdrawal as well to have a good security to the investment in the form of bitcoin. Hope this will serve to be a major incident in the crytocurrency, keeping it secure adds value once after the incident.

They are really great people, their decisions are really good, it contributes to the user, I feel surprised when they accept the bitcoin fork, this is something that nobody can also risk.

With all release coming from several exchange sites these days and even more to come, I guess the best decision is to follow the golden recommendation which is to keep the one bitcoin where one can exercise control because some exchange sites might just use that as an excuse to get away from the cryto-space with depositors fund because by the time they now have a reason to suspend operations, then next is for them not to resume again which I will not take a chance but still expecting release from e-wallets providers how they want to handle this.

For me, it's not surprising. So will do. For those who live only at the expense of income from bitcoin now need to transfer to Fiat the expense necessary for life amount because then it will be difficult to do and it is possible that the price will be very low.

Very Thankful for this announcement!
Hope to share this reminder from the given link,
as a helpful preparation for all Bitcoin wallet holders.

Quote:

Preparation

If you accept bitcoins as payments, we recommend that you stop accepting Bitcoin payments at least 12 hours before Tue Aug 01 2017 08:00:00 GMT+0800 (China Standard Time), although 24 to 48 hours earlier may be safer. This will give time for all pending payments to confirm on the Bitcoin block chain before the event.

If you send bitcoins as payments, note that many services may stop accepting bitcoins at Tue Aug 01 2017 08:00:00 GMT+0800 (China Standard Time) or earlier.

Be wary of storing your bitcoins on an exchange or any service that doesn’t allow you to make a local backup copy of your private keys. If they accept transactions during the event, they could lose money and will likely spread those losses across all their users. If there end up being two or more competing versions of Bitcoin, then they may refuse to give you your bitcoins on versions they don’t like.

Bitcoin may experience significant price fluctuations in relation to other currencies. Learn more about price volatility and ensure you aren’t holding more bitcoin than you can afford to lose.

Where is the permission? I don't see it.

To be honest, it's probably a good idea to store your bitcoin on your own computer and not leave it on any exchange

Dont leave yourselves at the mercy of an exchange! Be safe.

Good day!
We read this latest news from Livecoin.net
This is a reminder for all BTC wallet holders.

This is their latest announcement from LIVECOIN:
_________________________________________________
QUOTE:
OUR ATTITUDE TO THE CHANGE OF BITCOIN PROTOCOL
Created 19.07.2017 12:07

Due to expected changes in Bitcoin protocol and possible splitting of the chain to 2-4 forks of Bitcoin, we want to make it clear for our clients.
In the end of July some events will take place, which can potentially lead to dividing block chain into 2 or more forks, you can read about this event in details following this link. https://bitcoin.org/en/alert/2017-07-12-potential-split

We follow only to an official recommendation from the bitcoin.org website. We use only bitcoin-core official node. In the case of fork, we will accept the chain which will be accepted by an official bitcoin-core client.

However, by the end of the July, we're planning to close BTC deposit/withdrawal till the full resolution of this issue according to an official recommendation. If a split of the chain will take place (it might happen in the beginning of August) we will do all the possible to credit our clients with new Bitcoin forks as well as to save an original BTC balance. We will allow trading of new forks if they come to live. Closing of deposit/withdrawal is a necessary measure which is required to credit your account with Bitcoin forks.

We increased temporarily an amount of confirmations required for incoming BTC transactions up to the 5. We will decrease this number to 3 when the situation is resolved.
________________________________________________
As per announcement from Livecoin.
Thank you and Have a nice day!