Cryptocurrency and token asset exchange ShapeShift has provided an update to their policy stance regarding the coming Bitcoin UAHF on August 1st. The company says that in preparation for the proposed Bitcoin Cash (BCC) fork set to occur on August 1st, starting on July 31, ShapeShift will temporarily turn off all trading capabilities across the platform (web, mobile, and API).This means it will not be possible to buy or sell any digital assets on ShapeShift. Trading will remain turned off until ShapeShift feels that a clear outcome of the fork has been determined.
This means it will not be possible to buy or sell any digital assets on ShapeShift. Trading will remain turned off until ShapeShift feels that a clear outcome of the fork has been determined.
ShapeShift said they may decide to support some non-Bitcoin trading pairs (for example ETH to DASH, etc), but this will be at its discretion only.
If a user is in the middle of a transaction that involved a bitcoin input or output when ShapeShift turns off trading, the order will complete but may take extra confirmation time (perhaps as long as a few hours)
The ShapeShift team said:
“As ShapeShift has no control over this Bitcoin fork, we have no way of predicting when we will able to provide Bitcoin trading services again. BTC trading will be re-enabled when the network has been deemed safe (ie when the results of the fork are clear).”
“Thank you for your patience and understanding during this time. Bitcoin will be fine, the storm will end, and sunny skies will emerge. Hold tight until then. We appreciate your continued patronage!”
Timeline
July 31, 2017:
- ShapeShift will turn off trading
- Keep all bitcoins on private keys that you control. Do not store them at exchanges or online wallets where you do not control the private keys.
- Do not send or receive bitcoins starting on July 31. Just hold and wait for the hard fork to play out.
August 1, 2017:
- Bitcoin will hard-fork into two chains (Bitcoin and “Bitcoin Cash”)
After August 1, 2017 (hours, days, or even weeks)
- ShapeShift will turn back on trading of Bitcoin and other assets
- It will be safe to again send/receive bitcoins. Check with your wallet provider for updates and details
