Confusion on Bitcoin Cash

[penig]

I've been out of the loop for some years, came back to Crypto in the summer and the Bitcoin cash split.  Searching internet I dont see a lot of help and mostly from July/August.

What happened?  Are wallets supporting it?  Anyone give a run down, and views on whether to cash out or stick with it?

[CodyAlfaridzi]

Yes, its treated like another altcoin though. There is an Electrum-like wallet for Bitcoin Cash, it is called Electron Cash https://electroncash.org
Not official from Electrum, so you still have to be careful https://electrum.org/bcc2.txt. You can trade them on big exchanges like Bitfinex and Kraken.

I suggest claim those BCC and sell it for easy free BTC! BCC is safe from replay attack so don't worry. To make things easier, move your Bitcoin to another address/wallet before sending/claiming your BCC.

[mk4]

Both factions couldn't agree on the blocksize debate, so what the "big blockers" side did was to create another version of bitcoin that supports a bigger blocksize. Downside of this is that it is kinda centralized due to it having very few miners.

Wallets that support it: Copay, Electron(changed version of Electrum), Blockchain.info, Breadwallet, Coinomi, etc

Should you dump it? You're choice. Do a good amount of research.

[A1exander]

There are a few wallets supporting Bitcoin Cash. I use Electrum and claimed Bitcoin Cash by importing Electrum seed into Electron Cash, an Electrum fork made for Bitcoin Cash, but I moved my bitcoins to a new wallet first, as described here: https://electrum.org/bcc2.txt. As for dumping, Bitcoin Cash is volatile, it reached $700-800 several times, but recently fell to $300. Now it seems to be rising again, so I would wait a bit before dumping. I still hold most of the amount I received, and will probably do it until situation with Segwit2x clears. But it is only my personal opinion.

[penig]

So the main thing I'm picking up is that I need to move my BTC to a BCC supporting wallet, is that the important first step?  I'm on Multibit Classic (i believe its known as, to me its 0.4    ), so gather moving is a good idea anyway.  Then if necessary trade BCC through a BCC supporting exchange.

Some advise seen is to transfer BTC to new addresses, then filter the coins, bit concerned about bleeding transaction costs there, or is this insignificant?

[A1exander]

So the main thing I'm picking up is that I need to move my BTC to a BCC supporting wallet, is that the important first step?  I'm on Multibit Classic (i believe its known as, to me its 0.4   ), so gather moving is a good idea anyway.  Then if necessary trade BCC through a BCC supporting exchange.

Some advise seen is to transfer BTC to new addresses, then filter the coins, bit concerned about bleeding transaction costs there, or is this insignificant?

No. You need to move your BTC to a new wallet (not supporting Bitcoin Cash) to effectively split the coins (moving BTC does not move Bitcoin Cash) and to protect the new private keys from exposure to a Cash-supporting wallet. Then you can use your old private keys (which still hold Bitcoin Cash at the old addresses) to get coins by importing them into a Cash-supporting wallet. Or you can import them without moving BTC, but it would mean that theoretically the software supporting Bitcoin Cash may be used to steal BTC. As far as I know, nobody reported such fraud yet, but, if you have a significant amount of BTC, it is better to make extra precautions.

[mk4]

Why has Roger Ver tweeted Bitcoin Cash is Bitcoin?

Because technically, the technology behind bitcoincash(BCH) is the same with bitcoin(BTC) in the past before SegWit, besides the blocksize increase. The reason Roger Ver and company don't like bitcoin(BTC) is because of SegWit, which they are obviously passionately against. The SegWit vs big blocks topic is debatable.

[NeuroticFish]

Why has Roger Ver tweeted Bitcoin Cash is Bitcoin?

Because his interest is Bitcoin Cash get more traction, adoption, buyers.
I think that he invested quite a big amount of money and time in this and now he see his hopes becoming dust.
Most Bitcoiners just cached in this altcoin and its price went downside almost continuously, so Roger Ver's plans to overtake Bitcoin (by making Bitcoin Cash become THE Bitcoin) and become the one that decides the fate of Bitcoin also went down. But he's still hoping...

[Dralarn]

some "miners" decided it's a good idea to keep the Bitcoin network as centralized as possible, they are basically doing this fork to give them enough power to continue doing the things they've done until now. And they'll continue going down that road as long as BTC will keep on increasing in value. Basically the blocksized is increased in BTC to 8MB which is suppose to be good, but if it was all cherries and butterflies we would all change to that, it's not that easy, it comes with various complications that can mess up the network. Some exchanges and wallets do support it, others don't, so make sure that if you decide to buy any to check the wallet providers instructions and at what extent they support it.

[p3rplexamous]

So the main thing I'm picking up is that I need to move my BTC to a BCC supporting wallet, is that the important first step?  I'm on Multibit Classic (i believe its known as, to me its 0.4    ), so gather moving is a good idea anyway.  Then if necessary trade BCC through a BCC supporting exchange.

Some advise seen is to transfer BTC to new addresses, then filter the coins, bit concerned about bleeding transaction costs there, or is this insignificant?

-Back up wallet .dat file or seed
-Send BTC to a new wallet
-Download Electron Cash app, import old wallet info (see video tutorial https://www.youtube.com/watch?v=XaRWNdRW9kE&t=772s)
-Send Bitcoin Cash to new wallet or exchange

[NeuroticFish]

So the main thing I'm picking up is that I need to move my BTC to a BCC supporting wallet, is that the important first step?  I'm on Multibit Classic (i believe its known as, to me its 0.4   ), so gather moving is a good idea anyway.  Then if necessary trade BCC through a BCC supporting exchange.

Some advise seen is to transfer BTC to new addresses, then filter the coins, bit concerned about bleeding transaction costs there, or is this insignificant?

The transfer costs should be small if your BTC is not from a lot of inputs, however, I would not do this with Multibit Classic, since it's buggy and the risk to lose your money is big.
You should first export your private key and import it into Electrum, this way you'll be safer and you can also have control on your fees.

Then indeed, a good practice is to move your BTC to a new wallet, sweep the old wallet's Bitcoin cash and move those out too. I used coinomi for this, with this tutorial https://bitcointalk.org/index.php?topic=2062488.0