Logged in this morning to find this.....is this a good idea? @IceKohl @BITCOIN_BAR In your opinions is it better to be in USD at the time of fork so if/when it drops we can buy cheap BTC or is it better to have BTC and get coins on both chains?
Chain Split Tokens
March 18, 2017
Today, Bitfinex proudly introduces trading on Chain Split Tokens (CST). The first such product of its kind, CSTs will allow Bitfinex customers to speculate on future fork events of the Bitcoin blockchain, specifically, the potential fork between Bitcoin Core and Bitcoin Unlimited. We are designating these CSTs as BCC (Bitcoin Core) and BCU (Bitcoin Unlimited).
CSTs will trade as BTC and USD pairs, initially without margin, and as will any other product with list, we will reevaluate that decision if there is sufficient liquidity.
Users will be able to create CSTs by “splitting” a bitcoin through the Token Manager (located in the Order Type drop down menu of the sidebar order ticket). Once split, the BTC will be removed from your account for each BCC and BCU added. Through the same Token Manager, you will be able to reverse this process at anytime, trading in equal numbers of BCC and BCU to extract BTC.
If no fork occurs by December 31, 2017, then BCU will expire worthless and BTC will be given in exchange for each BCC holder. If, however, there is a fork, specifically Bitcoin Unlimited, then, as soon as we list Bitcoin Unlimited, we will exchange BCU tokens for Bitcoin Unlimited tokens as well as retiring BCC tokens in favor of Bitcoin Core tokens. More detailed information can be found in the Chains Split Token Terms and Conditions.
We are planning a few additional enhancements including a realtime display of total CSTs as well as segregated cold storage for the bitcoins that have been split, which we will periodically settle to and from our hot wallet.