I'm pretty new to the cryptocurrency world and what I have seen in the past days, everybody is talking about BIP 149, SegWit2x and other terms that I really don't understand. 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. People say that I should withdraw all my coins into my Electrum Wallet before 1 Aug. That's what have I done.
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? Will ever BTC exists? Will people have the possibility to trade with BTC and with BCC as well? 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).
- Bitcoin price has dropped. Should I invest more FIAT into it before 1 Aug?
Please excuse me to my answer to you, You are so ridiculous dude! I think you are one of the people who believed that this coming august 1st bitcoin will be split. You're so easy to believed in any rumors and hearsay and no basis. This is just a massive FUD to anyone here in this industry. I am pretty sure nothing will happen to this date. Everything will be fine just continue what you had started to believe in Bitcoin.