As far I can understand that bitcoin will split into 2 separate currencies: BTC (Legacy old) and BCC (Bitcoin Cash or Bitcoin ABC -it's the same, right?-) after 1 August UTC 12:00 am.
i don't like the statement of "bitcoin will split" a better explanation would be "someone will create a fork out of bitcoin on that date".
because bitcoin will be bitcoin, and anything that is forked from bitcoin will be an altcoin. an since the majority is with bitcoin and that fork has no support that makes it an altcoin. not a split.
People say that I should withdraw all my coins into my Electrum Wallet before 1 Aug. That's what have I done.
if you want to have these free new tokens they are distributing by the name of BCC (abusing the name of bitcoin) then yes. otherwise you can continue as before and forget about BCC tokens. specially if its price doesn't interest you by that time.
After the split, everything will be cloned and people will have both BTC and BCC. If you had 1 BTC, after the split you will have 1 BCC as well. So... what to do after that?
yes after they forked, they will give you equivalent of your BTC in BCC. the difference between this and an altcoin airdrop is that you don't need to sign a message.
Will ever BTC exists?
yes. why not!
Will people have the possibility to trade with BTC and with BCC as well?
don't expect it on good exchanges like Gdax, they have already said they will never add this.
but small unknown exchanges may add it. like what ViaBTC exchange did already 4 days ago.
If these are 2 different currencies, that means if I make a transaction with BCC (send) then it will be transfered in BTC as well? Will the 2 currencies "synchronize" with each other? (I don't know if you can understand what I'm trying to say).
this is called replay attack. and as i said if you don't care about BCC tokens specially because of its price by that time then don't bother. just do as you were doing before.
but if not you should take actions to protect against this. if you don't wan to to lose BCC tokens
- Bitcoin price has dropped. Should I invest more FIAT into it before 1 Aug?
that is a whole different question.
if you think this is a good time them do it. and if you think it will go down more then wait.
i have bought all the bitcoin i could afford when it dropped down to $1800 and have no more fiat for this month.
Its really good answer it really make sense it solved lots of my wuestion even i am researching on that once i find proper answer i will post it in this thread
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