UPDATE 2017–08–07
As promised, deposited Bitcoin Cash / Bcash / BCH were sold off, at an average rate of 0.10 BTC per BCH. As such, users were today credited 0.10 BTC for each BTC they had deposited with their accounts before the fork.
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As some of you have heard, on August 1st the “Bitcoin Cash” project will launch their own fork of Bitcoin, meaning that each holder of bitcoin will be able to spend both regular bitcoin and Bitcoin Cash. Some of our users have asked what happens with their account balances when the split happens.
Will Bitrefill Support Bitcoin Cash?
We don’t have any plans to support Bitcoin Cash as a currency. Our limited engineering resources are currently being prioritized to supporting SegWit and Lightning Network transactions once those things become available.
What happens to my account balance?
As soon as we can after the fork, we will split the coins belonging to our Bitrefill Accounts users, and we will sell the Bitcoin Cash for Bitcoin on a regular exchange. Whatever Bitcoin proceeds we receive from that sale we will distribute pro rata to our accounts users. This means that if you held 1 BTC on a Bitrefill Account at 2017–08–01 12:20 p.m. UTC, and we manage to sell coins at a rate of say 0.10 BTC per BCC, then we will credit you with a bonus of 0.10 BTC to your account. We don’t guarantee any particular rate, we will do it on a best effort basis and distribute proceeds evenly.
What if I want to do something else with my Bitcoins?
If you want to withdraw your Bitcoins from your account in advance of the split you can contact support@bitrefill.com from the same email address as you registered the account on, and we will process your refund. As always in Bitcoin — to really control what happens to your coins you should be in control of your private keys.
Can I use this to get a “bonus” on my Bitcoins?
Yes, but keep in mind that we aren’t a wallet. We handle user refunds manually and only do it for refunds of failed refills or special circumstances like in advance of a fork. So please don’t deposit on your account more than you intend to spend.
What do you think about Bitcoin Cash?
Clearly there are different views on what Bitcoin should be. In an open network we welcome diversity, and thank the Bitcoin Cash team for implementing replay protection so as not to interfere with regular Bitcoin. We wish the Bitcoin Cash project well with their goal of peer-to-peer digital cash even if we don’t agree with their strategy. Let the market decide which Bitcoin it wants in a peaceful way.
Will Bitrefill ever support Bitcoin Cash?
One should never say never, in this field things change quickly. At this point the answer is no, we have no such plans. We have strong doubts about the viability of the Bitcoin Cash project and are focusing our resources on other things.
