diff --git a/README.md b/README.md
index 1e91910..534d85d 100644
--- a/README.md
+++ b/README.md
@@ -10,25 +10,17 @@ the target in both directions.
 
 ### WebSockets binary data
 
-Websockify 0.4.X supports all versions of the WebSockets protocol
-(Hixie and HyBi). Starting with websockify 0.5.0, only the HyBi / IETF
+Starting with websockify 0.5.0, only the HyBi / IETF
 6455 WebSocket protocol is supported.
 
-The older Hixie versions of the protocol only support UTF-8 text
-payloads. In order to transport binary data over UTF-8 an encoding
-must used to encapsulate the data within UTF-8. With Hixie clients,
-Websockify uses base64 to encode all traffic to and from the client.
-This does not affect the data between websockify and the server.
-
-With HyBi clients, websockify negotiates whether to base64 encode
-traffic to and from the client via the subprotocol header
-(Sec-WebSocket-Protocol). The valid subprotocol values are 'binary'
-and 'base64' and if the client sends both then the server (the python
-implementation) will prefer 'binary'. The 'binary' subprotocol
-indicates that the data will be sent raw using binary WebSocket
-frames. Some HyBi clients (such as the Flash fallback and older Chrome
-and iOS versions) do not support binary data which is why the
-negotiation is necessary.
+Websockify negotiates whether to base64 encode traffic to and from the
+client via the subprotocol header (Sec-WebSocket-Protocol). The valid
+subprotocol values are 'binary' and 'base64' and if the client sends
+both then the server (the python implementation) will prefer 'binary'.
+The 'binary' subprotocol indicates that the data will be sent raw
+using binary WebSocket frames. Some HyBi clients (such as the Flash
+fallback and older Chrome and iOS versions) do not support binary data
+which is why the negotiation is necessary.
 
 
 ### Encrypted WebSocket connections (wss://)
diff --git a/setup.py b/setup.py
index e53a715..d52e700 100644
--- a/setup.py
+++ b/setup.py
@@ -1,6 +1,6 @@
 from setuptools import setup, find_packages
 
-version = '0.4.1'
+version = '0.5.0-pre'
 name = 'websockify'
 long_description = open("README.md").read() + "\n" + \
     open("CHANGES.txt").read() + "\n"