Craig ‘Satoshi’ Wright Warns BCH Traders to Remove Funds Off ViaBTC and Coinex Before September 1
Craig Wright Recommends People Take BCH Off ViaBTC And Coinex Before The September 1 Stress Test To Avoid Learning “A Painful Lesson”
Craig Wright tweeted a warning earlier today advising users to remove their coins from ViaBTC prior to their stress test.
“I recommend people take their BCH off ViaBTC before the stress test,” wrote Wright. “Otherwise you could learn a painful lesson.”
The warning includes the ViaBTC pool and the Coinex exchange.
Craig Wright is referring to the upcoming BCH stress test scheduled to take place on September 1. The BCH community has labeled September 1 as “Bitcoin Cash Stress Test Day”. During that day, the network will be stress tested to demonstrate its capabilities. Individuals and groups are planning to send millions of BCH transactions throughout the day.
Why is there an issue with ViaBTC? Well, ViaBTC supports 8MB blocksizes, while the Bitcoin Cash network supports 32MB blocksizes. During a stress test, small block supporters will be left behind. That’s the “capitalist” approach of the BCH network compared to the “socialist” approach of the small blocksize supporters – at least according to Craig “Satoshi” Wright.
It’s unclear, however, if the BCH network will even reach the 32MB blocksize limit during this stress test – so the point may be moot. In any case, it’s not totally clear how ViaBTC could lose customers’ BCH during the stress test. Craig Wright hasn’t elaborated on his tweet from earlier today.
The Bitcoin Cash community announced the September 1 stress test on August 23. BCH communities worldwide, including the Tokyo Bitcoin Cash group, are planning to hold special events that day.
Despite the lack of information from Wright, it may be a good idea to withdraw your BCH from ViaBTC and Coinex. It’s unclear if Craig Wright knows something we don’t know or if he genuinely believes ViaBTC will lose customers’ BCH. It may be better to be safe than sorry, however – especially if you own a lot of BCH on an exchange.