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Regarding “Bitcoin Cash”, ViaBTC and Bitcoin ABC

On 22 July 2017, the Chinese digital currency exchange ViaBTC added support for the trading of a possible new fork of Bitcoin that is being called “Bitcoin Cash” or “BCC”. This fork is based on the idea of UAHF, which is a contingency plan first proposed by Bitmain in April to protect the Bitcoin ecosystem from the threats proposed by the BIP148 fork (aka UASF). Because it is a contingency plan, the UAHF will be implemented by us only if the UASF fork happens and poses an imminent risk to the Bitcoin ecosystem. This has been further described in our blog post.

Bitcoin ABC was proposed at The Future of Bitcoin conference in Netherlands and is a software led by developers who believe in increasing Bitcoin’s blocksize.

The development of UAHF is now led by supporters of Bitcoin’s blocksize increase. Bitmain cannot and does not control their opinions.

Following are some clarifications regarding Bitmain’s current stance:

  1. Bitmain and ViaBTC only share an investment relationship in which ViaBTC operates independently. The founder of ViaBTC has ten times the voting rights as those of the investors of ViaBTC. Therefore, the position of ViaBTC does not represent Bitmain’s stance.
  2. The New York Agreement is a joint effort of the global Bitcoin community. As one of its signatories, Bitmain has actively supported the smooth implementation of Segwit2x and will continue to run the btc1 software on all our mining pools, namely Antpool, BTC.COM pool and ConnectBTC, in the foreseeable future.
  3. We are closely observing the “BCC” movement and do not rule out the possibility of supporting both Segwit2x and BCC.
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