LocalBitcoins.com Official Statement regarding the possible hard fork on Aug 1 2017.

[barrydutton]

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While scanning my news today before I head out for a bit, I found this info which a lot of people will find interesting I think.

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We are closely monitoring the current situation regarding the risk of a Bitcoin hard fork occurring on August 1st. Today, July 18th, it looks possible that the hard fork will be avoided as BIP 91 can activate before then.

Our current plan in case BIP91 does not activate before August 1st, and the risk of a hard fork becomes real, is to stop all Bitcoin transactions for a period of time in order to protect the Bitcoin you have in your LocalBitcoins wallet. Once the danger period has passed LocalBitcoins will allow withdrawals of Bitcoins on both the majority and minority chain for as long as it is feasible and possible to support both chains.

In case BIP 91 fails to activate and the risk of a hard fork becomes real we will share more information via our blog, twitter and email.

To get more detailed information about the situation please read the following article:

https://bitcoinmagazine.com/articles/countdown-segwit-these-are-dates-keep-eye/

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To stay up to date with the most current developments please follow the Bitcoin subreddit:

https://reddit.com/r/bitcoin/

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Official Local BTC.com links:

https://www.facebook.com/pages/Localbitcoinscom

https://twitter.com/LocalBitcoins

http://www.reddit.com/r/localbitcoins/

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Thanks for reading, have a nice day.

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Comments

[ancap47]

Very sensible approach to the hard fork by localbitcoins. I've been on the site since 2012 and they have always been fair and had decent customer support.

Much different than Coinbase, who announced they will be keeping your minority-chain coins in the event of a split.

[stefen]

So what is the best time to convert bit coins to actual currency?

[garthfreeman]

2020

[krypto101]

Haha, good one !

[geechidan]

Actually money he says. LMAO

[enjar]

You have a point you know. You can eat paperish real stuff aka the hard cash (well unless you’re living in Canada where it’s plastic.) This digital stuff I just can’t eat any of it. Makes me sad.

As far as when? Well I feel the when is a personal decision mostly based on your own financial needs. People use to buy pizzas for 10,000 bitcoins. Now days that would be consider the word most expensive pizza. I can’t even see @barrydutton willingly paying that much for one, and he LOVES pizza.

[yahsa89]

Hello I want to be your friend to help each other in this world of steemit Follow me @yahsa89 let's sharing

[charles1]

Good news @barrydutton lets hope that all is go well. Price of most altcoins are high already.

[rawpride]

I don't like this "locking" of the coins, move your coins to safety while you can.

[grizzman]

Thanks for the heads up! I hope the BIP91 activates and everything goes smooth.

[darkishtouch]

good to know, even though I barely use it

[dianclasher]

Nice post