Dienstag, 1. August 2017

What happened to Bitcoin Cash (BCC) after august 1th?

Currently, Bitcoin Cash is estimated to have the support of just 0.26% of total Bitcoin mining hashrate and its price on the ViaBTC futures market is approximately 12% of Bitcoin’s. How these figures will develop after the fork occurs is a highly speculative matter.
The consensus appears to be that Bitcoin Cash will fail to gain meaningful traction. Without massive financial support, BCH will likely trade in a 3 (or even 2) digit range shortly after launch, as Bitcoin holders will sell it in masses for Bitcoin or fiat.


How Exchanges will Manage the Bitcoin Cash Fork

If your bitcoins are safely held in your personal Bitcoin wallet, your BTC balance will be credited and matched on the BCH chain. Splitting the coins then becomes your responsibility, should you wish to trade one side or the other.
Make sure to do your research thoroughly before attempting to split your coins; it’s a fairly complex and technical process. After the fork occurs, monitor the Bitcoin Cash price so judge the potential gain against the possible risk, plus the time and effort required.
Warning: Beware of services offering to split your coins for you! Unless verified as part of a trusted exchange, wallet or similar Bitcoin company, such offers could well be coin-stealing scams!

If your bitcoins are stored on an exchange (which is not recommended for security reasons), the relevant custodian will decide the fate of your BCH. In several cases, you won’t receive any BCH.

Blockchain.info

If you have a Blockchain wallet, it is essential that you retain your wallet and corresponding recovery phrase and not delete them, even if you empty the BTC balance. Also if you are considering withdrawing funds from exchanges that will not support BCC, it is safe to withdraw to your Blockchain wallet.
In the event of two separate blockchains after August 1, 2017 Blockchain.info will support the longest chain. As of today, Blockahin.info has no immediate plans to fully support the Bitcoin Cash fork within our main product. But, if BCC develops into an actual chain and market, you will be able to use your recovery phrase to export your funds and use them on that chain, regardless of whether or not Blockchain chooses to support it.

Source:
Steven Hay

I'm a former futures trader. My keen interest in matters financial, economic and political eventually led me to conclude that the current, debt-based fiat system is broken. It was a natural step from there to investing in gold and, in early 2013, Bitcoin. Although I'm not very technical, I've learnt about Bitcoin through study, asking questions, running ecommerce and marketing sites and working as a journalist. I've always loved writing and my current focus is on creating guides which inform others about Bitcoin's advantages.

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