as most of you know, 1. of August is approaching. The deadline where miners and users of the Bitcoin network together decide on how Bitcoin will scale in the near or mid-term future. With many different proposals out there and not a real clear path, we as a service provider find ourselves in a tough spot, because people are asking us on a daily basis what version we will support. Some users are even going to the extreme and “threaten” to not use our platform anymore if we don’t use version XYZ.
Vaultoro stands, and will always stand for the freedom of having your wealth saved in bank independently stored gold or Bitcoin. We are committed to allow people to take control of their savings. That is why our first priority will always be the security of our customers funds.
To provide the maximum of security to our users funds, we will have to stop Bitcoin withdrawals on the 31st of July
Users can not withdraw Bitcoin on 31st of July until the situation is resolved
Should there be a split in Bitcoin, we will only provide one trading pair. We as a smaller platform have to use the version of Bitcoin, that the majority of services are using (for example Bitpay), because we rely on these services to provide you real time gold purchases
Should there be a split in Bitcoin, we will also split the Bitcoin and allow “the other version” also to be withdrawn by our users, even though this version might be not tradable. We cannot give you a date for this functionality now
Trading functionality will be still operational, but we have to minimize our own market making to a minimum, so liquidity might be not as big
User to user trading is not affected
We hope for the sake of the ecosystem that it will be a smooth transition. We hope that, with many actors and incentives at play, the users are not the ones which have to suffer.
Thank you all for your long-term support.
Philip & Joshua Scigala