Distribution of BCH to Paxful Users

1293 views January 2, 2018 ray 26

We have retrieved the bitcoin cash from our cold storage of our users and have sold it already for bitcoin with ratio about 1/10.

We are now waiting until our wallet partner BitGo resolves an issue with access of bitcoin cash hot wallet on their side. There have been some delays from BitGo’s side on this issue for the past 2 weeks. Once we solve the issue of bitcoin cash in hot wallet we will distribute bitcoin to our users proportionally according to how much bitcoin they had in their wallet on 1st of August.

Regarding the fork of bitcoin gold we will do the same once we have completed the distribution of bitcoin from bitcoin cash. We have snapshots of user balances available so when some other forks like bitcoinx, united bitcoin or super bitcoin will get to some major exchange we can sell them there and distribute.

Regarding the option of crediting users with bitcoin cash is also a possibility, but since our multi-coin support will not be ready within a month, we have decided to credit users with proceeds of sold bitcoin cash for bitcoin instead. We estimate once BitGo fixes issue on their end it won’t take us more than a week to give bitcoins to users for their bitcoin cash.

We apologise for the delays and all our users who held bitcoin in their wallet on August the 1st in 2017 will be credited shortly.

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