Reddit user survey: Hard fork response measures and expansion tendencies of major exchanges

The issue of capacity expansion can be said to be a "long-standing problem" in the Bitcoin community, but the community has never reached a conclusion on this issue. Recently, the most debated issues are Core's isolated verification and BU's unlimited blocks. So what do the major exchanges think about this issue?

Reddit user loremusipsumus recently conducted a simple survey of several exchanges and asked them about the measures taken after the hard fork. He asked the exchanges two questions. The first was whether the exchange would support withdrawals of both currencies at the same time if a forked chain was generated after the hard fork; in addition, he asked whether the exchange had its own opinion on the best expansion plan.

The following are the specific questions raised by netizens:

Hello, I am happy to tell you that I am very satisfied with your customer support service. I have two questions. First, if a forked chain is generated after the Bitcoin hard fork, do you support users to withdraw both coins at the same time?

Second, which expansion plan do you prefer, Segwit or Bitcoin Unlimited? Or do you have other expansion plans that you support?

Next, let’s take a look at the exchange’s witty response.

OKCoin

Dear loremusipsumus, thank you! Thank you for your continued support. For your first question, our answer is yes. Once the hard fork becomes a reality, we will assist customers in withdrawing all funds in their accounts according to their wishes.

As for Segregated Witness and BU, we would like to say that both solutions are great. OKCoin is looking forward to and will accept any new technology that can achieve Bitcoin expansion. We will respect the consensus mechanism and accept the choice of the majority. If you need further help, please feel free to contact us.

BitFinex

Thank you very much for your message and feedback. Our measures to deal with Bitcoin forks can refer to the ETH and ETC forks. Before the Ethereum fork, the coins that users had on Bitfinex were split into two, and they could choose to withdraw both coins at the same time. However, it is difficult for us to open the withdrawal service immediately, so if you want to control your funds when the fork is about to come, then we recommend that you withdraw in advance.

Bitfinex will not support either side, we respect the community consensus and we do not want our platform to influence the final decision of the community.

Gemini

Hi loremusipsumus. We are still evaluating our options in this "hypothetical hard fork" and need to decide how we can meet customer needs without violating the company's core direction.

Unfortunately, I cannot share with you my "inclination" on the issue of capacity expansion, because it can easily be reflected in a company's position = )

Coinbase

Thanks for contacting Coinbase. Hard forks are difficult to execute. Not just for Coinbase, but for the entire network. When Ethereum forked into ETH and ETC, we did support ETC withdrawals. But this wasn't always the case. At the time, integration issues were a big challenge for us because we didn't even list ETC. The safest way for users is to withdraw coins to their wallets before the fork, so that they have both coins. Then you can top up again as you wish.

As for which expansion plan we prefer, I can't give a definite answer, but the article "Coinbase CEO: Segregated Verification is the future of Bitcoin, it should be activated" can give you some inspiration. I hope the information I provide is helpful to you. If you have other questions, please feel free to contact us.

BTCC

Hi loremusipsumus, thank you for contacting us. Thank you for your feedback to our customer service team. Regarding your first question, if a hard fork does happen, our management team will provide the most necessary and best feasible solutions for our valued customers.

We are not biased towards any party, we are neutral. If you have any other questions, please contact us in time. Thank you very much and best wishes!

Kraken

I cannot comment on hypothetical hard forks or scaling proposals.

Bitstamp

Please note that there is no limit on the amount of Bitcoin withdrawals for users who have been verified by the platform. For other issues regarding payment processing, we will contact the ticketing system for further contact.

Bittrex

We have never participated in such discussions. If the situation you described really happens, we will make an announcement in time and we will most likely support both chains at the same time. After all, the choice is not ours.

It seems that most exchanges responded cautiously, stating that they remain neutral and support community consensus. Some exchanges even refused to comment at all.

Some exchanges also responded to netizens' comments.

Nikize: Kraken's response is terrible. Do you really care that much about responding to a hypothetical hard fork and withdrawal measures?

Krakenexchange: I agree that this answer is not that good, but we really don’t have much to say about this kind of question. Assuming that the hard fork really happens, the withdrawal issue must be based on customer needs, and each customer’s situation is different. We don’t need to know too much about the details of the hard fork, and we will not say for sure that we will support withdrawals of both currencies. Regarding the expansion issue, our company has not made an official statement.

Translator's note: The above content is provided by netizens and is for reference only!