Bitcoin ATMs: Bitcoin Cash Fork Update

Zach Harvey
Jul 28, 2017 · 1 min read

There is an expected fork of the Bitcoin blockchain on August 1st. An additional coin will emerge from this fork, named Bitcoin Cash (BCC). It is still unknown how much hashing power BCC will have.

Our first recommendation is to halt service at your machines on August 1st, and to watch the outcome carefully. We find this website to be useful: https://www.btcforkmonitor.info/

To halt or resume service, follow: https://support.lamassu.is/hc/en-us/articles/115000847412

Exchanges such as Coinbase, BitStamp and Kraken will halt funding (deposits/withdrawals) on or before August 1st as network disruption is a possibility.

If you feel confident about operating your machines to service those who cannot trade on exchanges, we suggest monitoring transactions closely to make sure there is no considerable loss of funds. Pay close attention to the hashrate on the BTC blockchain. If it falls too low, confirmations will begin to slow down and this could lead to more serious trouble.

We also recommend removing bitcoins from any exchange accounts and sending them to a wallet you control, as third party services may not support BCC, and it would impede your ability to hold both BTC and BCC. If you’d like to disable exchange auto-trading in your server, run: lamassu-disable-trading

We recommend Jimmy Song’s helpful post on this subject as well: https://medium.com/@jimmysong/bitcoin-cash-what-you-need-to-know-c25df28995cf

We’re available on our usual support channels to answer any questions you may have.

Team Lamassu

Zach Harvey

Written by

Co-founder of Lamassu, creators of the world's finest cryptomats. Our software is completely open source: https://github.com/lamassu | https://lamassu.is

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