Currently we have two versions of Bitcoins. Bitcoin or BTC which cost around $4,500 and Bitcoin Cash or BCH that has a value of approximately $350 at the time of this writing. (some exchange and websites call it BCC but that ticker symbol is already owned by Bitconnect which is a totally different cryptocurreny). Bitcoin Cash was a result of a phenomenon in the cryptocurrency world called forking. We won't go into the boring details about that phenomenon. What you need to know is that because of this "forking" a new version of bitcoin was born Bitcoin Cash.
The cool part about this is that during a forking event like what happened last August 1 you can get this forked new version of the Bitcoin absolutely FREE. Yes you heard me right. FREE. During this event the bitcoins that you currently hold in your wallet are duplicated and converted to the new version of Bitcoin, in this case Bitcoin Cash. Unfortunately the forking period has long since passed and those who forgot or didn't know how it is done missed out BIG TIME.
But wait, although the forking event has long passed there might be still a way to get your free Bitcoin Cash . Here is the link that details on how to do it.
Do remember that there are certain requirements in order to do this. Read the instruction carefully and try to ask coinomi support if you have any question about the procedure. If it does not work for you at least you tried and gain the experience to do so. That skill set will come in handy when other forking event happens which is just around the corner. One such forking event will happen on October 25, 2017.
The new version of Bitcoin that will be forked on that date will be called Bitcoin Gold. So better be prepared before that date. You can prepare by having a Bitcoin wallet that gives you your own keys like Coinomi and Electrum. You can download them here:
If you have bitcoins in exchanges or in hot wallets (wallets online) they might give you for FREE Bitcon gold as well. Better check with their support team if they are supporting the fork. Each of them will have their own way of distribution of the Bitcoin Gold.
Now just how do we get the free forked new versions of bitcoin: Bitcoin Gold? Well, we don’t really have to do anything technical or drastic. We just have to move some of our bitcoins before the forking in the aforementioned wallets and wait for further instructions from the admins of the wallet. It is important to note that the more you hold in the wallet the more you will receive. This is because the amount of bitcoins gold you will get are the same amount of bitcoins you have in the wallet. In a sense forking is like duplicating your bitcoins but the duplicated bitcoins becomes another version of the original bitcoin which in this case is called Bitcoin Gold with different values and properties.
Here is a quick summary what to do before the forking:
1. Get a bitcoin cold wallet/s like coinomi and Electrum.
2. Put bitcoin into it and hold until the forking ends.
3. Wait for further instruction from the wallet administration or support on how to claim the free bitcon gold. (this would be probably involve recovery of wallet using private keys).
After the forking you will receive bitcoin gold with the same amount of bitcoin you have in your wallet during the forking. If you have .01 bitcoins expect to have .01 bitcoin gold as well. After receiving the bitcoin gold you are free to move around your bitcoins and your newly generated bitcoin gold. Currently I am not aware of any compatible wallet for bitcoin gold. But I have a pretty good feeling that Coinomi will make their wallet compatible with Bitcoin Gold.
Thanks for reading my blog and hope that you will follow, upvote and resteem my article. Best of luck to all of us and keep steemingit!
Thank you for my mentors @antonette @mers @iwrite @purpledaisy57
All pictures are mine
Yay! haev to try that when I get a chance!
If it is free lets take the opportunity to get that free bitcoin.
I wish i could understand about crypto 😂😂😂
If you need help I'd be willing to assist. here is a quick start guide i made for beginners http://bit.ly/BitcoinQuickStartProgram if you need additional help just look for me in facebook.
Very interesting
Yes it is sir :)
Are you absolutely certain that Segwit2x will be accepted and not rejected? I keep hearing there might be another side to this story.
Oh are you that talking about the forking on November? This one is another forking event for Bitcoin Gold initiated by lightning . Like any forking event no one is totally sure if it will get approved. Remember the hard fork last Aug. 1 they said that it forking was reject as early as a week before the actual forking but it happened eventually.
I am using Coinomi as well. Is there something like Bitcoin Plus?
Yes there is but I am not sure if it is a forked version of Bitcoin or an altcoin.
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Thank You!
Ill try this...and hope to have free bitcoin too
Yes try it is essentially free money! :)
i think i need to check my faucethub account.alam ko me laman pa mga wallets ko doon.
Faucet hub is a micro payment processor. If they decided to support Bitcoin Gold you don't need to do anything they will just give you your free bitcoin gold like what they did with bitcoin cash. You'l just see an additional crypto in your portfolio.
This is what i am looking for, an information about the fork..
Forking is like additional dividends for holders of Bitcoins. THis forking event is a minor one that major one will be the November forking for segwit2x. Another great thing about forking events is that right after it it signals a bullish run for bitcoins right after the fork.
Is personal computer in opening those links you've mentioned above or can I access that even with my mobile phone?
coinomi is an android app. I am not sure if when the iphone version will be released. If i remember correctly you are using iphone right? You may also use it in the computer using an emulator like bluestack to use it in a computer. Electrum has both but i am not sure if they have one for IOS.
sad. I dont have my laptop with me during weekdays because I leave it at our province. it's good if i can use that even on my
iphone.
Crypto currency changes and it is changing a lot of features then evolve into another coin. The good part of crypto is when you exchange it for cash. The bad side is when they are gone in the middle of your business with them your hard earned money and you can't find them anywhere in the world as if thy haven't existed just what HashOcean and EthTrade did!
True sir that it is mandatory that you always be updated in cryptocurrency if you are planning to go into it. I also invested in ethtrade and lost some money on it. My mentor told me about HashOcean he told me that he lost money there as well.
I really have no idea on bitcoins kyemkyeme heheh
It is newer to late to start learning about cryptocurrency mam if you are interested you may check out my quick start program that I made for starters such as yourself here is my link: http://bit.ly/BitcoinQuickStartProgram it has short videos and simple instructions. You said mam that your nephew was into cryptocurrency maybe he can also help you if you want to get started :)
sali ako sis
If you want to get started with cryptocurrency message me in our steemit group chat and i'd be glad to assist you.
And here I am with only coins.ph. Must learn this too. Thanks for the info sis.
Coins.ph is a good starting point if utilized properly coins.ph in itself can earn you money. I am always open t share what i've learn to those who are interested to get started.
thanks for the tips. will have to check that out when given the chance :)
Your welcome. I am just here to share what i know.
yun oh try ko kaya yan :)
yes sir you never know how much the equivalent of Bitcoin gold will be. I might reach the same price as bitcoins. if it does then you effectively doubled your bitcoins overnight.
you know a lot about bitcoin, that's good, maybe you can write about steem as another cryptocurrency soon...
Yes i will soon after a learn the platform. I am still learning it but when i do i'll certainly share what i will discover.
I loved cryptocurrency but, cryptocurrency hates me lol.
lol I said that to to my mentors months ago. now i am lovin' it.
Thank you for the info.😉
you're most welcome.
This is really interesting :) I hope to learn more about Bitcoin soon :)
please do. I have some ebooks i can share if you want. I have it in our group page in facebook. here is my email address. [email protected] to contact me there and send you a copy. You can also follow me here to know more since I am writing much about bitcoins and cryptocurrency.
I got to check out the group page :) Thank you!
Thanks for the info ma'am. :-)
I can see that you have your steemit up and running. thanks for commenting. i'll be following you.
Free bitcoin? For real? Let's see
Yes it is free bitcoins. that how i got my first bitcoin cash.
i have one of this but thank you for sharing this one it helps a lot.
You are most welcome sir.