Post
Topic
Board Speculation
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
jbreher
on 20/01/2016, 06:22:20 UTC
Quote
People need to do a bank run in every exchange (maybe even online wallets too) well before we reach the point of the hard fork, to ensure that they have control of their BTCs.

AlexGR raises an excellent point. If there is an upcoming contentious hardfork scheduled then the first things people are going to do is withdraw ALL their coins off the exchanges and out of any custodial services.

To what end?

Every coin that they withdraw before the fork ends up being one coin on each chain after the fork. If they leave one coin on the exchange, there is likely no existing contractual agreement that the exchange might grant them back one coin on chain A, while keeping the one coin on chain B for itself.