So the Bitcoin Fork is coming, should you be in fear as a Bitcoin Hodler?
Source: cointelegraph.com
You probably shouldn't, if you hold your BTC in a Wallet like the Electrum Wallet. You will also be able to sell your new BCC coins. The question is: Will Bitcoin lose in value or will it stay stable? Let's say BTC is worth $2900 at time of fork today. Will BTC drop down to $2500 if the price of BCC will be $400? That's for you to answer. You can play with numbers, but we can all agree on that BTC is very likely to continue its upward trend, especially when Segwit kicks in, that'll make BTC transactions faster and thus cheaper.
BTC Segwit2x vs BCC
Ok, so what is the main difference between Bitcoin Cash and the upcoming upated Bitcoin with Segwit2x?
We allowed ourselves to take the explanation of bitcoinexchangeguide.com:
_Bitcoin is the original version of bitcoin that we’ve used for years. Bitcoin Cash is a proposed fork of the bitcoin blockchain. Supporters of BCC believe that SegWit is attacking some of bitcoin’s fundamental strengths – like its decentralization and democratization. They believe SegWit2x is being led by individuals with ties to shady organizations, and that SegWit2x will be the end of bitcoin as we know it.
Bitcoin Cash plans to solve that problem. The most important thing you need to know about Bitcoin Cash is that it allows for custom block sizing. The “ABC in Bitcoin ABC, in fact, stands for “Adjustable Blocksize Cap”. That means users can determine their preferred blocksize accordingly. By default, the blocksize is set to 2MB, with scaling possible all the way up to 16MB.
When you visit the official BCC website, you’ll find that their definition of their currency is identical to Satoshi’s original vision for the currency:
“What is Bitcoin Cash? Bitcoin Cash is peer-to-peer electronic cash for the Internet. It is fully decentralized, with no central bank and requires no trusted third parties to operate.”_
So it's not easy to tell which one is the "right" coin, as both coins have valid arguments working for them, and it's a philosophical question if BCC, that seems aligned to the creators ideals of how and what Bitcoin should be; or BTC, that the "mainstream" (mostly powerful and rich miners and mining companies?) seems to have voted for and agreed upon, thus more democratic, is the right way to go.
Note: The BTC/BCC Fork is going to happen at around 12:20PM UCT Time. So if you hold any BTC at that time, you will get BCC, too, if you wallet or exchange supports it.
Here is a list of exchanges and wallets, that'll support BCC:
Exchanges supporting BCC
ViaBTC
OKCoin
BTCBOX
Bithumb
OKEX
Mercury Cash
Huobi
QuadrigaCX
toubi.com
Korbit
BTCPOP
Kraken
Coinfloor
HitBTC
BITCOINS NORWAY
QUOINEXCHANGE
Bitfinex
BitGrail
BitStarEX
Mercado Bitcoin
MrCoin
YObit.net
Wallets supporting BCC
BitcoinABC
Bitcoin classic
Bitcoin Unlimited
BXT
Electrum
Ledger
TREZOR
Electron Cash
BTC.com
Freewallet
Coinomi
Sources:
timeandupdate.com
bitcoinexchangeguide.com
cointelegraph.com
whether chetah found similar content or not, thanks for sharing, makes me feel less concerned and I didn't see the other content
Thanks, we have used several sources, that we took 1 sentence or 1 paragraph out of. We gave credit to all sources, but this, simply forgot it. Updated all sources.
meep
Hi! I am a robot. I just upvoted you! I found similar content that readers might be interested in:
https://timeandupdate.com/2017/07/bitcoin-blockchain-fork-btc-bcc/
Congratulations @cryptocentral! You have completed some achievement on Steemit and have been rewarded with new badge(s) :
Click on any badge to view your own Board of Honor on SteemitBoard.
For more information about SteemitBoard, click here
If you no longer want to receive notifications, reply to this comment with the word
STOP