Bitcoin Cash: A fork is coming after all

[Kanine Awe]

Would it be wise to move my other alts into BTC to just grab some free BCC or just leave it be?  What do you guys think?

[xskl0]

Is this 100% confirmed, I have read so many conflicting reports on whether or not there is still going to be a fork.   I was hoping that there was not going to be a fork.

I guess if we have to have a fork, then 2 forms of bitcoin I guess could be ok, but any more than that would make the entry point so much more confusing for the common investor.

People already have a hard enough time grasping what bitcoin is and how it works.  To add another layer and have 3-4 different bitcoins would be no bueno for bitcoin.

Definitely no bueno at all

[shamansky]

Is this 100% confirmed, I have read so many conflicting reports on whether or not there is still going to be a fork.   I was hoping that there was not going to be a fork.

I guess if we have to have a fork, then 2 forms of bitcoin I guess could be ok, but any more than that would make the entry point so much more confusing for the common investor.

People already have a hard enough time grasping what bitcoin is and how it works.  To add another layer and have 3-4 different bitcoins would be no bueno for bitcoin.

Definitely no bueno at all

but how is the price of bitcoin going up if no bueno?

[eaLiTy]

Would it be wise to move my other alts into BTC to just grab some free BCC or just leave it be?  What do you guys think?

It is a really good option consider the price of BCC at this point in time,i have already sold some coins even at a bit of a loss just to make sure i will be having some extra coins when it comes to August and just to collect some airdrops i have being seeing for some time from other developers and i think many have being doing this and may be so is the reason some of the alt coin prices have gone down.

[Kanine Awe]

Would it be wise to move my other alts into BTC to just grab some free BCC or just leave it be?  What do you guys think?

It is a really good option consider the price of BCC at this point in time,i have already sold some coins even at a bit of a loss just to make sure i will be having some extra coins when it comes to August and just to collect some airdrops i have being seeing for some time from other developers and i think many have being doing this and may be so is the reason some of the alt coin prices have gone down.

At worst there isn't a strong adoption of BCC and the price heavily crashes but you still have BTC and thats gonna retain value so its a pretty no risk play.  I just feel a lot of people doing it is going to mean come Aug 1 BCC is gonna be worth very little, with everyone trying to dump at once.

[worthy1]

Im trying to work out what do do and from all accounts people believe that BCC will fail or dump but people still want to ensure they get their BCC air drop.

Is there a reason people arent cashing out and wait until August 1st to buy more BTC if the price drops or are we that confident the BTC price will pretty much stay the same and more profit is to be gained from free BCC?

[shade_wrath]

Im trying to work out what do do and from all accounts people believe that BCC will fail or dump but people still want to ensure they get their BCC air drop.

Is there a reason people arent cashing out and wait until August 1st to buy more BTC if the price drops or are we that confident the BTC price will pretty much stay the same and more profit is to be gained from free BCC?

You have answer to our question .. a lot of people are holding onto BTC not for current rise but for free BCC which they plan to sell to earn instant profit
Eventually when fork happens it will take market by surprise as lot of FUD of no Spilt/Split is been spread around .. this is where investors will start cashing out on their BTC and market will tumble .. I expect to see BTC around 1500$ during this period

[worthy1]

You have answer to our question .. a lot of people are holding onto BTC not for current rise but for free BCC which they plan to sell to earn instant profit
Eventually when fork happens it will take market by surprise as lot of FUD of no Spilt/Split is been spread around .. this is where investors will start cashing out on their BTC and market will tumble .. I expect to see BTC around 1500$ during this period

So isnt it risky to think you can get into that dump of BCC at a time to make more of a profit over selling BTC now and buying more at the $1500 mark (estimated)?

I have never been involved in an air drop but id assume you would have to go somewhere to get it or transfer your BTC to an exchange that supports BCC to get both? if thats the case then the time taken to do that all means you could miss the train and end up with worthless BCC and the same BTC stash you started with instead of more. Just a bit confused as to how the air drop works and all at once so you ensure you can cash out at a good time.

I thought people would go to FIAT, wait for everything to tumble on August 1st and then buy more BTC and some cheap alts (if thats your thing) to really benefit

[jubalix]

can anyone explain to me if i have my bitcoin on coinbase which wallet i should move it to so i can go through this split smoothly?

if you want to be on both chains, no questions, you must control the private keys to whatever address you BTC is held on.

.....I would not any more than 5%~10% of your coins on exchanges at any time.

[gueorguiev]

This is something I am even failing to understand regarding bitcoin and even I see this as a disadvantage to Fiat because in the case of Fiat when the Central Banks gives an order every other banks follow without any confusion but in this case, while some are saying there would be fork not even one but more than one, others are saying there is no need for fork and one does not even know which one to go with. I made a transfer yesterday and realise the transaction fee has reduced drastically while the waiting time has also reduced.

Yea but that's why banks are centralized. As much as I wanted Segwit proposal to be approved by core and then activated Asap by everyone,but it didn't because that's not how Bitcoin works, and Cores say is not final. Id rather have an open discussion where everyone's voice is heard, and arguments for and against developed proposal are a daily topic, rather then having one entity decide for all of us.

[ChironRegera]

Kraken will support Bitcoin Cash (BCH)

http://blog.kraken.com/post/163504189522/bitcoin-cash-and-a-critical-alert-for-bitcoin

[Kanine Awe]

Kraken will support Bitcoin Cash (BCH)

http://blog.kraken.com/post/163504189522/bitcoin-cash-and-a-critical-alert-for-bitcoin

Seems like more exchanges are supporting it than I thought would.  Maybe they are hoping to get a quick buck off it, or maybe some truly support it.  Excited to see whats up with all this.

[shade_wrath]

Kraken will support Bitcoin Cash (BCH)

http://blog.kraken.com/post/163504189522/bitcoin-cash-and-a-critical-alert-for-bitcoin

Seems like more exchanges are supporting it than I thought would.  Maybe they are hoping to get a quick buck off it, or maybe some truly support it.  Excited to see whats up with all this.

Some of the exchanges which are supporting/not supporting BCH are as follows:

Supporting: Bitfinex, Kraken, Bittrex, Huobi(Chinese Exchange), Livecoin, BTCC, Bithumb, Viabtc, OkCoin

Not Supporting: Poloniex, Coindash, GDAX, Itbit, Bitmex, Bitstamp

Its strange when we say crypto as Decentralized currency but when it comes to listing these decentralized currencies are on mercy of centralized(Not govt. but other major market movers) exchanges

 

[worthy1]

So if we keep our Bitcoin on an exchange that supports BCCe.g Kraken will we automatically receive our BCC or only through cold storage?

[shade_wrath]

So if we keep our Bitcoin on an exchange that supports BCCe.g Kraken will we automatically receive our BCC or only through cold storage?

For Kraken, Bitfinex ... they will automatically deposit BCC = BTC present during fork provided you are not doing Margin Trading or lending. As they have specific rules for those scenarios.

I would advice you to read the respective exchange announcements for BTC fork where you plan to deposit BTC so as to gain BCC. This will provide you the exact information on approach of providing BCC by that exchange.

Care to be taken: Most of the exchanges will be closing deposit/withdrawal for BTC during or may be couple of days before fork. So if you want to withdraw or deposit do it before 30-July I would say. Trading will be unaffected and you can still use BTC for trading during fork.

[worthy1]

Man its a tough one for me. The exchanges that support it seem to be not allowing any BCC trading, which means when it opens it could be a mega dump meaning getting the BCC wasnt as profitable as selling BTC now for FIAT and buying more BTC if it drops would be 

[micher143]

So if we keep our Bitcoin on an exchange that supports BCCe.g Kraken will we automatically receive our BCC or only through cold storage?

For Kraken, Bitfinex ... they will automatically deposit BCC = BTC present during fork provided you are not doing Margin Trading or lending. As they have specific rules for those scenarios.

I would advice you to read the respective exchange announcements for BTC fork where you plan to deposit BTC so as to gain BCC. This will provide you the exact information on approach of providing BCC by that exchange.

Care to be taken: Most of the exchanges will be closing deposit/withdrawal for BTC during or may be couple of days before fork. So if you want to withdraw or deposit do it before 30-July I would say. Trading will be unaffected and you can still use BTC for trading during fork.

This is what I'm wondering too. If we have a bitcoin at the exchange it means that we will have a bitcoin and a bitcoin cash in the exchange? So basically our funds will be double? I hope that is going to happen and I hope the hard fork will be going to be successful.

[shade_wrath]

So if we keep our Bitcoin on an exchange that supports BCCe.g Kraken will we automatically receive our BCC or only through cold storage?

For Kraken, Bitfinex ... they will automatically deposit BCC = BTC present during fork provided you are not doing Margin Trading or lending. As they have specific rules for those scenarios.

I would advice you to read the respective exchange announcements for BTC fork where you plan to deposit BTC so as to gain BCC. This will provide you the exact information on approach of providing BCC by that exchange.

Care to be taken: Most of the exchanges will be closing deposit/withdrawal for BTC during or may be couple of days before fork. So if you want to withdraw or deposit do it before 30-July I would say. Trading will be unaffected and you can still use BTC for trading during fork.

This is what I'm wondering too. If we have a bitcoin at the exchange it means that we will have a bitcoin and a bitcoin cash in the exchange? So basically our funds will be double? I hope that is going to happen and I hope the hard fork will be going to be successful.

Yes your "COINS" will double but funds will depend on value of BCC at which you are able to dump it. Considering there is mass dump in market then you might not be able to get high profits.

Man its a tough one for me. The exchanges that support it seem to be not allowing any BCC trading, which means when it opens it could be a mega dump meaning getting the BCC wasnt as profitable as selling BTC now for FIAT and buying more BTC if it drops would be 

Kraken and Bitfinex will support BCC trading as per their announcements. Anyways you will be getting BCC for free equal to amount of BTC in your exchange wallet at time of Fork. So you can still hold BTC and dump BCC for whatever value you can get .. something better than nothing

[worthy1]

This is what I'm wondering too. If we have a bitcoin at the exchange it means that we will have a bitcoin and a bitcoin cash in the exchange? So basically our funds will be double? I hope that is going to happen and I hope the hard fork will be going to be successful.

This is where it gets hazy, yes they will honour equal coins (Bittrex anyway) but id imagine that will take time to complete, plus i dont think there is anywhere saying they will both be worth the same price? Everyone seems to be saying they are going to sell their BCC as soon as they get it. The problems i see with this is:

- If getting your BCC takes time you could miss the sell off and your BCC could be worth very little. What if it takes hours, days etc to get your BCC?
- When places allow trading you will have to catch the sell off quick (if thats what happens)

Just seems to be a lot of unknowns which im trying to work out why people would keep their BTC instead of selling it now and buying double when the the price drops. Seems a safer way to increase your BTC rather then hope BCC works out.

Surely buying more BTC when its low and waiting for people to cash out of their BCC and buy more BTC which will see it rise is the best thing to do?

[shade_wrath]

So if I currently have 3 bitcoins, will I automatically have the value of 3bitcoins in USD as BCC? So 6k BCC? or will it just be 3 BCC?

You will have 3 BTC (your original coin) and 3 BCC (Newly added coins) and not its value in USD.
Value will depend on BTC/USD and BCC/USD rate on that exchange.