Bitcoin Forum

August 1st is finally here. I hope everyone has their full nodes ready with all their bitcoins there. Time to dump all of our BCC for more free BTC. Easiest trade ever.

A reminder to get all of your coins off from exchanges and into your full nodes.

If you aren't running a full node, then put it in a paper wallet or something.

Just be ready to dump BitmainCoin, time to get some free chips.

I have all of my coins ready, but I forgot to move some of my coins that are in an Electrum wallet that I have in a laptop and I can't get that laptop until tomorrow, so I hope that these coins also get the BCC equivalent amount.

Are you going to instantly dump all of your BTC for BCC?

Will you watch the market for a while?

Read again, he said he's going to dump all of his BCC for BTC, not the other way around.
That's to be expected at first, a lot of people are just going to exchange their BCC for BTC at first.

I'm going to hold onto mine for a bit longer though.

I'll probably keep my BCC and observe how the market goes. There's bound to be people who would try to make good profit out of it. It still wise to focus on the main BTC, but I think i'd give BCC about a week or two before dumping it all in.

I guess you meant to say BCC for BTC. And yes, im going to sell my BCC for BTC, but im not sure if I will do it instantly, or I will speculate with it. There's people with a lot of money behind the BCC agenda, so they may pump it.

In any case, I don't believe in BCC long term. It has nothing to offer, the network effect is dead, no one accepts it, and it has a blocksize limit of 8MB ,which means I wouldn't be able to run a node in no time. No thanks.

It has no segwit, so that is good for the ones that thing segwit is a mistake and could lead to problems in the future. If segwit has any problems, I think they will show up way after BCC drops to the floor. BTC remains the safest bet of all cryptos.

How is this free? You've either bought BCC (which cost you something), expect it to get pumped up and then you'll sell on the quick rise. Is that correct?

The concept of "you'll have an equal amount of BCC coins and BTC coins" does not mean you have double the number of coins. It means you'll be able to claim BCC OR BTC, not both. And your private keys are the source of record, they are interchangeable in both wallets. Once you claim your BCC you will now have an equal amount less available in BTC, and vice versa.

There's nothing free about this, especially if you think BCC is going to fail.

The only "lottery-like" win here is elect to take BCC immediately and the conversion is something like 1BTC:1000BCC and then  BCC takes off days, weeks, or months after.

Yes I have all my bitcoins in paper wallet right now but I don't know where to use those private key to send out my free BCC. Bitcoincash have listed http://www.electroncash.org/ as supporting wallet where we can import our private key but I am not finding them quite secure. So I might send off my bitcoins out of that address before importing it there.

This. I have my BTC in my Electrum wallet but I don't want to touch it until everything is clear after Aug 1 because I don't want to lose my BTC. Their are no clearer instructions yet on how to claim free altcoin using Electrum although I have seen a lot here but I'm not taking any risk for now. I will wait until the dust is settled before making any move. I'm more on BTC, so I will not focus on BCC but will probably dump in later.

Wow, that's just completely and utterly wrong.

What are you talking about, if you own 1 BTC you will get 1 BCC/BCH period, it does take from your BTC total.

I'm not going to do anything. I'll keep running my Core node, but I'm going to avoid transacting for the foreseeable future, keeping coins intact on both chains before doing anything in haste.

If it turns out anything like Ethereum Classic, BTC supporters will dump BCC hard at the get-go. But as long as it isn't completely abandoned in the first couple weeks, BCC will probably rise and be relevant in the future (at least as an altcoin).

You are overcomplicating things to be honest.

When a fork happens, you get the same amount of coins you are holding on the legacy chain, on the other chain.

So if you have 10 BTC, you have 10 BCC. Unless you think BCC has a future, and I don't, you can sell your BCC for BTC. Have you increased your BTC amount? yes. I don't care how much, you have it increased it doing nothing, therefore free.

Sure. BTC against the USD may fall, because of the whole thing being a bit of a mess, but it will recover, and when it recovers, you will be holding more BTC than you did.

If you have the 1 BTC = 1 BTC mindset and stop caring about USD, you will see my point. If you believe in BTC long term, that should be your mindset, just to make more BTC, and dumping BCC for BTC is a way to make more BTC.

If you don't want to risk it, you can hold both and see what happens, that is understandable as well. I just don't see BCC gaining any traction, other than some dumb pumps ETC style (even tho in the case of Ethereum the non-original token is the original legacy chain... but I wouldn't go into that)

Wrong, bitcoincash is issued at a 1:1 rate. If you have exactly 1 bitcoin, then you will be issued exactly 1 bitcoincash. I think you better do some more research my friend. You may be missing out on profit.

Here read this
https://themerkle.com/bitcoin-cash-is-not-free-money/amp/ (https://themerkle.com/bitcoin-cash-is-not-free-money/amp/)

Let's ban together, all of us, as a community, to stamp out the fear, uncertainty,  and doubt. Crypto brothers in arms. Take charge, haaa!
 ;)

I think it will not get abandon because we all know that the backer of this coin has also a lot of funds behind him. It will stay relevant as long as there is people who are greedy and will try to manipulate its price in the future. It will live like ETC, have its moment but BTC will still be the dominant crypto currency. Yeah, probably good thing to hold at least before dumping it quickly.

BCC will absolutely plummet immediately. There are so many people waiting to dump, and as the price starts to drop the selling will just get more frantic. Where it goes after that, and how long it takes to level out, who knows. But the one thing I'm really sure of is a rapid initial price drop.

I fail to see the intrinsic value of something that's only reason for existing, is to assuage some group of clown's ego's. Unless of course you're a proponent of an 8mb Block with 7mb's of spam in it. BCC is a fart in the wind.

A big part of this, in my perspective, is just how much hashing power Bitmain is willing to point at Bitcoin Cash. I believe they control a very significant portion of the global hash rate. In that regard, they can do a lot to shape public opinion (including giving the appearance of a diverse set of mining interests backing BCC via different pools). People, unfortunately, put a lot of emphasis on hash rate, which makes this split all the more interesting...

If BCC reaches $1000 by Christmas a looooooooot of people are going to regret their life choices lol. I am not saying that it will but what if it actually did? Man this is getting so exciting. With SegWit2x coming up as well this is going to get real hot real soon  8)



https://i.imgflip.com/1td36e.jpg

So at 12.20 the split happens but two things I don't get:

What will the market cap/price be of btc and bcc, btc is $46.5b / $2792 right now as soon as the split happens what happens with the cap and price of btc and bcc? Does btc stay same or half or what and bcc is this half of what btc is or zero?

That is the best explanation I've heard thus far,  much better than theymos's blurb.  Makes
sense to me now.  Still, it's an advantage, because if BCC did take off, that lottery ticket is
attached.   No harm in holding it, I guess, and no choice either.

Once you import your private keys to BCC client, nothing happens with your BTC, they are on different chains. Technically, there's a risk that BCC will use your private keys to steal your BTC, but it can be easily avoided by moving BTC to new wallet before importing private keys. So, you got everything wrong (or deliberately trolling). Google what replay protection is.


BCC is an airdrop, there's less incentive to hodl it for primary owners (BTC users), since they got it for free, without investing anything. The price support of BCC will be formed by big block believers and people like Jihan and Ver.

Except that it's completely wrong.

This thread made me lol a lot. Shills most be shilling for the last day.

Oh.  Well habbear better get his head screwed on straight and stop with the
misinformation if that's the case.  Seems like more people are disagreeing with him
so I'll assume he is, in fact,  wrong.  It makes sense that even if private keys are the same,
BCC chain should not know what BTC chain is doing.  Someone else put forth that
explanation and that also makes since. 

Read this first because your entire post is like people love to say around here - FUD

https://medium.com/@jimmysong/bitcoin-cash-what-you-need-to-know-c25df28995cf

thank you for that, I was wondering what exchanges were going to credit equivalent balances. I have a question: how are we supposed to actually split the coins? Is it as easy as importing your private key into a BCC wallet, and spending, or is there something special we are going to have to do to soend both balances?

I am opting for one of the exchanges, just to avoid the headache. And I really dont believe in exchanges :(