Topic: Bitcoin Cash: A fork is coming after all (Read 4494 times)
Are there any other wallets that support BCC other than Electrum BCC?
You have answer to our question .. a lot of people are holding onto BTC not for current rise but for free BCC which they plan to sell to earn instant profit
Eventually when fork happens it will take market by surprise as lot of FUD of no Spilt/Split is been spread around .. this is where investors will start cashing out on their BTC and market will tumble .. I expect to see BTC around 1500$ during this period
Eventually when fork happens it will take market by surprise as lot of FUD of no Spilt/Split is been spread around .. this is where investors will start cashing out on their BTC and market will tumble .. I expect to see BTC around 1500$ during this period
hehehe..1500$..you want many people to cry??Is this 100% confirmed, I have read so many conflicting reports on whether or not there is still going to be a fork. I was hoping that there was not going to be a fork.
I guess if we have to have a fork, then 2 forms of bitcoin I guess could be ok, but any more than that would make the entry point so much more confusing for the common investor.
People already have a hard enough time grasping what bitcoin is and how it works. To add another layer and have 3-4 different bitcoins would be no bueno for bitcoin.
Many versions of BTC makes it confusing for the basic investor I guess if we have to have a fork, then 2 forms of bitcoin I guess could be ok, but any more than that would make the entry point so much more confusing for the common investor.
People already have a hard enough time grasping what bitcoin is and how it works. To add another layer and have 3-4 different bitcoins would be no bueno for bitcoin.
Would it be wise to move my other alts into BTC to just grab some free BCC or just leave it be? What do you guys think?
Yeah. A private BTC wallet that will support BCC will be good for that
Is there any speculation of what's going to happen to difficulty with mining either coin? Will BTC difficulty go down? If there is a fork of the miners and the difficulty doesn't go down, I believe there comes a reduction in the trust with technical the basis behind BTC.
I am not a developer, so please do not quote me for this. Logically, the difficulity of mining BTC will not change due to the split, but it will probably change due to the Segwit implementation on Aug 8th. They adjust the difficulty every two weeks. In order to accommendate more transactions in a block due to Segwit, the difficulty will need to be adjusted to make sure the new amount of transactions (2 to 2.5 times?) can all be processed in 10 minutes.
We know very few things of this Bitcoin Cash coin and as with everything new this is a gamble. It may turn out to make the users who support it big profit, or completely to fail down within a very short amount of time. Many exchanges are claiming that they will give users 1 BCash for 1 Bitcoin if they hold 1 Bitcoin in their exchange. Sounds like an attempt to make users to deposit big amounts in exchanges, and we have seen many exchanges fail before so don't do this. Just wait.
- If getting your BCC takes time you could miss the sell off and your BCC could be worth very little. What if it takes hours, days etc to get your BCC?
- When places allow trading you will have to catch the sell off quick (if thats what happens)
I am wondering by selling off the BCC, won't doing so reveal the private keys of the BTC as well and risk the chance for the BTC to be hacked?
Chances are these scammers would not make a dime off the process anyway, since the coins in their private Fork are going to be unsellable on the exchanges, but they do this stuff anyway. Trust your software sources, and you'll be fine.
Is there any speculation of what's going to happen to difficulty with mining either coin? Will BTC difficulty go down? If there is a fork of the miners and the difficulty doesn't go down, I believe there comes a reduction in the trust with technical the basis behind BTC.
Feeling like a lot of people had the same idea and are moving their alts into BTC to try and get the fast dump of BCC. Gotta be safe and make sure to not lose your coins though. BTC will probally drop a bit after the first just do to how many people are rushing to buy it right now.
I feel this is the case too many are getting bitcoin at the moment so they can benefit and get bitcoin cash for free and then they are going to sell as soon as possible but I think that is a mistake since the price of bitcoin is going to suffer from it and they could lose money when they try to move once again to alts.THis doesn't tell us nothing. Why bitcoin price fell in first place? Because people ceased to trust this unreliable network and started to leave it. And why it has increased later? Cause of speculators, NOT USERS. This is bunkum, segwit2x will fail and wail and U know this
The only reason was that there was a lot of uncertainty regarding the forking and so is the reason the price went down and as soon as BIP91 was locked in and all the miners where supporting it,then the price started gaining momentum and once everything sails smoothly we could see higher valuation and could see another rally in the price.
Feeling like a lot of people had the same idea and are moving their alts into BTC to try and get the fast dump of BCC. Gotta be safe and make sure to not lose your coins though. BTC will probally drop a bit after the first just do to how many people are rushing to buy it right now.
- If getting your BCC takes time you could miss the sell off and your BCC could be worth very little. What if it takes hours, days etc to get your BCC?
- When places allow trading you will have to catch the sell off quick (if thats what happens)
I am wondering by selling off the BCC, won't doing so reveal the private keys of the BTC as well and risk the chance for the BTC to be hacked?
Same concern for me. I will definitely not import my private keys on a Bitcoin Cash wallet... it could be just a sort of phishing attempt to steal our coins!
Electrum Cash does not seem to be a reliable wallet, so we gotta find another way to claim our Bitcoin Cash.
For safety reasons, can't we just grab the private keys, send the BTC to other address, and then input the private keys on a BTCC wallet?
- If getting your BCC takes time you could miss the sell off and your BCC could be worth very little. What if it takes hours, days etc to get your BCC?
- When places allow trading you will have to catch the sell off quick (if thats what happens)
I am wondering by selling off the BCC, won't doing so reveal the private keys of the BTC as well and risk the chance for the BTC to be hacked?
Same concern for me. I will definitely not import my private keys on a Bitcoin Cash wallet... it could be just a sort of phishing attempt to steal our coins!
Electrum Cash does not seem to be a reliable wallet, so we gotta find another way to claim our Bitcoin Cash.
Is this 100% confirmed, I have read so many conflicting reports on whether or not there is still going to be a fork. I was hoping that there was not going to be a fork.
I guess if we have to have a fork, then 2 forms of bitcoin I guess could be ok, but any more than that would make the entry point so much more confusing for the common investor.
People already have a hard enough time grasping what bitcoin is and how it works. To add another layer and have 3-4 different bitcoins would be no bueno for bitcoin.
The fork is going to happen, people were worried about a fork due to the incompatibility of the proposals but BIP 91 fixed that, now the issue is that this is a deliberately action by some miners and an exchange to fork bitcoin so there is nothing to do, since anyone can create their own fork at any time. I guess if we have to have a fork, then 2 forms of bitcoin I guess could be ok, but any more than that would make the entry point so much more confusing for the common investor.
People already have a hard enough time grasping what bitcoin is and how it works. To add another layer and have 3-4 different bitcoins would be no bueno for bitcoin.
- If getting your BCC takes time you could miss the sell off and your BCC could be worth very little. What if it takes hours, days etc to get your BCC?
- When places allow trading you will have to catch the sell off quick (if thats what happens)
I am wondering by selling off the BCC, won't doing so reveal the private keys of the BTC as well and risk the chance for the BTC to be hacked?
Neurofish says: "The ones investing in Bitcoin have pumped it back from 1800 to 2600 in the moment they've seen it follows the right direction (SegWit). They will stay with Bitcoin, not with BitcoinCoinCashGoldWhateverValue altcoin.
"
THis doesn't tell us nothing. Why bitcoin price fell in first place? Because people ceased to trust this unreliable network and started to leave it. And why it has increased later? Cause of speculators, NOT USERS. This is bunkum, segwit2x will fail and wail and U know this
"
THis doesn't tell us nothing. Why bitcoin price fell in first place? Because people ceased to trust this unreliable network and started to leave it. And why it has increased later? Cause of speculators, NOT USERS. This is bunkum, segwit2x will fail and wail and U know this
So if I currently have 3 bitcoins, will I automatically have the value of 3bitcoins in USD as BCC? So 6k BCC? or will it just be 3 BCC?
You will have 3 BTC (your original coin) and 3 BCC (Newly added coins) and not its value in USD. Value will depend on BTC/USD and BCC/USD rate on that exchange.
This is what I'm wondering too. If we have a bitcoin at the exchange it means that we will have a bitcoin and a bitcoin cash in the exchange? So basically our funds will be double? I hope that is going to happen and I hope the hard fork will be going to be successful.
This is where it gets hazy, yes they will honour equal coins (Bittrex anyway) but id imagine that will take time to complete, plus i dont think there is anywhere saying they will both be worth the same price? Everyone seems to be saying they are going to sell their BCC as soon as they get it. The problems i see with this is:
- If getting your BCC takes time you could miss the sell off and your BCC could be worth very little. What if it takes hours, days etc to get your BCC?
- When places allow trading you will have to catch the sell off quick (if thats what happens)
Just seems to be a lot of unknowns which im trying to work out why people would keep their BTC instead of selling it now and buying double when the the price drops. Seems a safer way to increase your BTC rather then hope BCC works out.
Surely buying more BTC when its low and waiting for people to cash out of their BCC and buy more BTC which will see it rise is the best thing to do?
So if we keep our Bitcoin on an exchange that supports BCCe.g Kraken will we automatically receive our BCC or only through cold storage?
For Kraken, Bitfinex ... they will automatically deposit BCC = BTC present during fork provided you are not doing Margin Trading or lending. As they have specific rules for those scenarios.I would advice you to read the respective exchange announcements for BTC fork where you plan to deposit BTC so as to gain BCC. This will provide you the exact information on approach of providing BCC by that exchange.
Care to be taken: Most of the exchanges will be closing deposit/withdrawal for BTC during or may be couple of days before fork. So if you want to withdraw or deposit do it before 30-July I would say. Trading will be unaffected and you can still use BTC for trading during fork.
Yes your "COINS" will double but funds will depend on value of BCC at which you are able to dump it. Considering there is mass dump in market then you might not be able to get high profits.
Man its a tough one for me. The exchanges that support it seem to be not allowing any BCC trading, which means when it opens it could be a mega dump meaning getting the BCC wasnt as profitable as selling BTC now for FIAT and buying more BTC if it drops would be 
Kraken and Bitfinex will support BCC trading as per their announcements. Anyways you will be getting BCC for free equal to amount of BTC in your exchange wallet at time of Fork. So you can still hold BTC and dump BCC for whatever value you can get .. something better than nothing
So if we keep our Bitcoin on an exchange that supports BCCe.g Kraken will we automatically receive our BCC or only through cold storage?
For Kraken, Bitfinex ... they will automatically deposit BCC = BTC present during fork provided you are not doing Margin Trading or lending. As they have specific rules for those scenarios.I would advice you to read the respective exchange announcements for BTC fork where you plan to deposit BTC so as to gain BCC. This will provide you the exact information on approach of providing BCC by that exchange.
Care to be taken: Most of the exchanges will be closing deposit/withdrawal for BTC during or may be couple of days before fork. So if you want to withdraw or deposit do it before 30-July I would say. Trading will be unaffected and you can still use BTC for trading during fork.
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