Bithereum Hard Spoon Snapshot Announcement!
Mark your calenders for December 12th!
We are excited to announce that the launch of Bithereum is finally on the horizon! Bithereum will be taking a snapshot of the Ethereum blockchain on December 12th, at which time the total supply of Bithereum will be finalized. The snapshot will be a ‘hard spoon’ of the Ethereum blockchain, meaning that the existing account balances of the ETH holders will be recorded, in order to then reward them in Bithereum. Unlike the other BTC forks, BTH will also be awarding all ETH holders with coins, giving them the ability to stake their coins in the future. Redemption for ETH holders will be denominated in the ETH:BTC ratio, which will be determined on December 12th. For example, if it takes 35 ETH to make 1 BTC, that’s how much will be needed to redeem 1 BTH; BTC holders will be able to redeem BTH at a 1:1 BTC:BTH ratio upon Bithereum’s mainnet launch a few weeks after the hard spoon snapshot.
We highly recommend that any Ethereum holder who wishes to redeem checks out our blog detailing the process of redemption below: https://medium.com/bithereum-network/bithereum-redemption-rundown-4ec3c435ed49
The term “hard spoon”, was originated by the Cosmos team and is defined by Vitalik Buterin as a meta-protocol change that “occurs when a new cryptocurrency is minted by replicating the account balances of an existing cryptocurrency.” A hard spoon is non-contentious, meaning that it is in no way attempting to compete with or take market share from the blockchain who’s balance it’s inheriting.
Note: It is highly recommended that you don’t move Ethereum that you wish to redeem Bithereum with to another address after the snapshot; if you do this, you won’t be able to receive BTH for that amount. You can still redeem anytime after Bithereum’s launch, but only if the ETH is stored in the same address as it was prior to the snapshot.
Lastly, once the total supply has been finalized on December 12th, the FINAL mainnet build for Bithereum will be uploaded to github along with the exact Bitcoin block number at which the fork will be taking place. Our current estimate for the mainnet launch is around December 27th. Stay tuned for more details on this once we have taken the hard spoon snapshot. Happy redemption!
Bithereum Network
Visit the Bithereum Network website to learn more. Stay-up-to date with our project news and announcements by following our social media channels: Facebook, Twitter, and LinkedIn. Join the conversation on our community channels: Telegram, and Reddit.
