I’ve not seen them have problems with other new blockchains. Remember all forks of BTC are new blockchains that they need to develop their wallets to handle, So I doubt it.
Usually the most obvious and simplest explanation is the correct one.
Remember that for nearly 2 years bittrex allowed legacy (no ID) accounts even though the regulations required they have ID of everyone. Yet around the time they delisted safex and reviewed a number of other coins they also put a halt to legacy accounts.
So the simplest and obvious explanation was that the fear of regularity and actual pressure from the authorities made them take all these actions around the same time.
Most new blockchains are just implement new wallet libs and you’re done.
You start talking about a burn address on a new chain, plus dividends, now you’re talking about a lot more complexity that just doesn’t exist in other blockchains.
I’m sure the legal shit weighs in, plus apparently safex users (at least at the time) like to open up 100 support tickets over $10 worth of coins that took longer than 10 minutes to transfer…
I think that the BTC blockchain safex will still be floating around because it will likely be weeks before a majority of tokens are put through.
Then there will be those people who forgot and then remembered.
During post Safex Blockchain, exchanges should not convert people’s coins; and people should not trust exchanges because there were situations with some BTC forks and the ETH fork where the exchanges kept people’s new coins (Im referring here to the case of Safex Cash airdrop)
Imagine you held your coins on one of those exchanges, and your airdrop was kept by the operator.
For Bittrex I’d just leave it at they not wanting the dish out the legal expenses necessary to defend so many coins on their business.
That would be awesome to see the burn left open indefinitely. I’ve had coins switch to new chains in the past and missed the burning. Really gave me some sour grapes.
It would be smart for people to withdraw their money for the burning from the exchanges SAFEX will be on up until that moment as so to avoid the headache of who received the drop. Btw. Thanks for looking after us, Dan.
And the Starting Point of the SafeX blockchain is?
I only ask this as I’m setting up my private wallet and attempting to buy more SafeX, and my experience with exchanges at present id somewhat reserved.
“The conversion of Safex Tokens from the Bitcoin
Blockchain into the Safex Blockchain will delineate the conclusion of beta, and the start
of Safex Cash mining.”
I understand that more info is comming about all of this but , what will the ratio be? We all know people don’t react well when they see their few million coins turn into less… and since there is 1 bil supply available over the course of all those years , I wonder , if maybe there is a little hint or something that I missed.
Or maybe I don’t understand it fully. if so could u simplify it for a normal person
Yes, that I understand , purely talking about the psychological effect of the change. If you see your 10 million coins change into 10.000 I bet you will feel different , even if the value remains.
I think you are misunderstanding what is going to happen.
Safex on BTC blockchain will be converted to the same amount of Safex on the new blockchain. So you will send your “old” Safex to a burn address and receive the same amount of “new” Safex coins.
After that, and in addition, you will receive a one-time airdrop of Safex Cash (a totally new coin, not the same as “new” Safex), depending on the amount of “new” Safex you have in the wallet.
Hi there Dan,
I have safex tokens at coinspot exchange but hiw do I transfer them to receive new once?
I haven’t really been following the chat & just found out that I have to swap my old once for hew once.
I don’t want to miss out & loose my coins as I belive safex will make it big.
Thanks for your time
Lars
