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Title: Understanding impact of August fork Post by: Paulie on November 13, 2017, 11:11:35 AM Hello,
I have been holding BTC since beginning of this year. Which entitles me to receive Bitcoin Cash after the August fork. can someone pls explain me what this exactly means? I still have to claim my Bitcoin cash by the way, but I will figure this out. Some friends successfully did. I know I need to update my Ledger wallet. But the question(s): Is this comparable with a stock split? Let's say I have 5 Bitcoin since January this year and after August 1, I have now 5 Bitcoin (classic) and 5 Bitcoin cash? So 10 coins in total which I can trade/sell independently? And the value of each set of coins I should add up or does it not work this way? I watched various videos / read articles, but this never became very clear to me. Maybe somebody can point me to a source on this forum or elsewhere which does a good job explaining. THank you! Title: Re: Understanding impact of August fork Post by: consar on November 13, 2017, 02:03:08 PM if you hold 5 bitcoin in your wallet on the snapshot time(august 1st), then you have 5 bitcoin and 5 bitcoin cash. they are totally independent so you can sell/send 5 bitcoin cash and still keep the 5 bitcoin. you should not add up the values because they have different values. currently 1 bch=0.17698500 BTC
Title: Re: Understanding impact of August fork Post by: olehgol260 on November 13, 2017, 03:24:33 PM if you hold 5 bitcoin in your wallet on the snapshot time(august 1st), then you have 5 bitcoin and 5 bitcoin cash. they are totally independent so you can sell/send 5 bitcoin cash and still keep the 5 bitcoin. you should not add up the values because they have different values. currently 1 bch=0.17698500 BTC Is that true, that you can exchange both 5 bitcoin and 5 bitcoin cash for the fiat? That means pretty much money, as 5bch = 5*0.1769 = 0.8845. 1 bch is $1300 so you end up with around 1000 dollars in fiat and still 5 btc? Title: Re: Understanding impact of August fork Post by: consar on November 13, 2017, 03:33:53 PM you get 5 bch for 5 btc, which means, you can sell all the bch for $6500(5x1300) and still keep the 5 btc.
Title: Re: Understanding impact of August fork Post by: olehgol260 on November 13, 2017, 08:37:47 PM you get 5 bch for 5 btc, which means, you can sell all the bch for $6500(5x1300) and still keep the 5 btc. thank you. Messed up with the math ;D You clarified everything for me. Is it possible to buy BTC for BCH? As I understood, you can sell 5BCH for $6500 and buy BTC for that amount of money. Title: Re: Understanding impact of August fork Post by: aintnopassincraze on November 13, 2017, 09:25:11 PM you get 5 bch for 5 btc, which means, you can sell all the bch for $6500(5x1300) and still keep the 5 btc. thank you. Messed up with the math ;D You clarified everything for me. Is it possible to buy BTC for BCH? As I understood, you can sell 5BCH for $6500 and buy BTC for that amount of money. When you sell the 5BCH that is when you will have ~0.8 BTC...you dont need to buy BTC with BTC you will already have it! If you wanted to cash that out however you would need to go to another exchange to change into fiat |