Slush Pool, a major bitcoin mining pool, has announced that it will not support Bitcoin Cash (BCC) in the event of an August 1 hard fork.
Slush Pool Will Not Support Bitcoin Cash
The pool notified its miners of their decision via the company’s official blog. Giving context to their decision, Slush Pool said they did “not see a real demand from miners and the costs of creating and maintaining separate Bitcoin Cash infrastructure would be too high.”
Additionally, the mining pool said it will not support BCC withdrawals. Therefore, they continued, miners must withdraw rewards before the chain split if they want to use their bitcoin to get BCC.
Read the announcement in full here:
we want to let you know, that we currently have no plans to support the emerging Bitcoin hard fork called Bitcoin Cash (BCC) scheduled for the August 1st, 12:20 UTC. As for now, we do not see a real demand from miners and the costs of creating and maintaining separate Bitcoin Cash infrastructure would be too high.
We will also not support BCC withdrawals. If you want to get hold of your coins on the Bitcoin Cash chain, make sure to withdraw your rewards before the chain split — ideally with a sufficient time reserve for the transaction processing. After the chain split, we will not be able to process any BCC withdrawal requests.
Thank you for your understanding.
Your Slush Pool
Community Preparing for Bitcoin Cash Hard Fork
This statement is the latest in a string of announcements from Bitcoin companies regarding the August 1 BCC hard fork.
Several wallet providers have informed users of their plans for a hard fork. Most recently, Bitsonline reported on Ledger’s announcement of a tool that will assist hardware wallet owners in splitting their coins between the Bitcoin and BCC blockchains.
Yesterday, popular bitcoin exchange Bitstamp told the community it would not support trading for BCC — at least not right away — calling it an “altcoin.”
We also published a guide to using cold storage for securing your bitcoin stash in the event of a hard fork.
Bitsonline will continue following the community developments surrounding the fast-approaching hard fork date.
Images via Pixabay, Slush Pool