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RE: Why has steem nosedived?

in #steem7 years ago

Found this on freebitco.in:

Recently, there have been discussions about the possibility of a bitcoin hard fork happening so we wanted to address the issue for users who have their coins stored with us.

We feel that the possibility of a hard fork has been greatly exaggerated, however we are prepared to deal with it if it does happen.

If there is a hard fork, we shall always follow the longest chain (the chain with the most proof of work) as our primary coin. Bitcoins on the secondary chain however, will be made available for withdrawal by users after there has been a clear winning chain. So for each satoshi that users have with us, they will receive 2 (or more if there are multiple forks), one on the longest chain and one in the minority chain/s.

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So I take it we're at a bit of a crossroad when it comes to crypto currencies hence the jitters?

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