After 1 Aug split can I trade BTC and BCC? Should I withdraw all bitcoins?

[rremus91]

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?

[pinkflower]

Replay attacks will not be possible from the beginning of the fork as I understand. This fork will not be like the messy one that Ethereum did.

On making a decision between BTC and BCC. Whatever you decide to dump is up to you. But you can also hold both if you want.

[talkbitcoin]

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.

[davis196]

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?

I think that statements like "Bitcoin will split" are wrong.Bitcoin doesn`t split,the blockchain splits.
If the split happens,BCC will soon become worthless,due to the lack of supporters.People would want
to sell their BCC as soon as possible and the price will colapse pretty fast.
Everyone is free to HODL their BCC,after the split.Nobody would lose anything,unless all the people panic and make some wrong trading decisions.

[Andre_Goldman]

how much hash rate BCC will have ?

[CryptosapienZA]

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?

My suggestion is that you move your coins out of an exchange. Make sure you get a hardware wallet or a desktop wallet like Exodus or a paper wallet. More your coins your coins to those wallets. Do this in the next two days, then sit tight and wait. Do not do any transactions for atleast a week after Aug 1. Personally, I am sitting out for the next 3 weeks if the split happens.

[CryptosapienZA]

how much hash rate BCC will have ?

I dont think anyone knows the answer to this as noone knows who is in support of them. Personally, i dont think it will be that much. Even the miners who were initially against Segwit are now supporting Segwit 2x as the viable compromise. I think most miners will more likely honor the New York Agreement. The Chinese honor agreement, I cant say the same about the Core Developers in the West.

BTCfor life!

[foobarzoo]

I am a bit confused the forthcoming blockchain fork. 

As far as I understand I would receive automatically the same amount of BCC I have BTC if I held my coins in Ledger Nano (or Electrum?) since their software support that.

However, my question is: if my coins was in BitcoinCore wallet, would I be able to separate my coins into BTC and BCC afterwards and getting free BCC?

[CryptosapienZA]

I am a bit confused the forthcoming blockchain fork.  

As far as I understand I would receive automatically the same amount of BCC I have BTC if I held my coins in Ledger Nano (or Electrum?) since their software support that.

However, my question is: if my coins was in BitcoinCore wallet, would I be able to separate my coins into BTC and BCC afterwards and getting free BCC?

I am not sure what you mean by BitcoinCore wallet as there is no such as far as I know. Yes, the nano ledger will be able to separate between BTC and BTCC as  the two are quite different. Dont worry, just sit tight and enjoy the ride.
  

[Red-Apple]

it depends on whether they are really going through with the fork/split or not. and then if they do, it depends on which exchanges are going to really list that coin. some of them have already said they won't do anything about it.
BCC doesn't seem like the best idea and it certainly doesn't have that many supporting it. the chances of failure are very high with it.

[niisarearning]

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

[JorisK]

how much hash rate BCC will have ?

I bet they won't spend a lot on it at first. Why would they put tons of hashrate on something that probably is going to be worthless instead of something that is worth a lot and has a bright future?

I bet Bitmain will move some hashpower to BCC, but with Segwit we can miss it

[Kousei23]

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?

I don't think so because we all know that bitcoin nowadays are very unstable in terms of it's value and we all know all about the August 1 news that bitcoin value would split and drag down. I think it is okay to hold if you are a long term holder butif you need money ofcourse withdraw it.

[maeusi]

How to get the bcc? Is it enough to have bitcoins in own wallet or must we take action?

[dennyd999]

Is Electrum wallet supports split?

[JorisK]

Is Electrum wallet supports split?

Electrum Wallet does not support BCC, only BTC: https://electrum.org/bcc.txt

[CryptoBry]

Replay attacks will not be possible from the beginning of the fork as I understand. This fork will not be like the messy one that Ethereum did. On making a decision between BTC and BCC. Whatever you decide to dump is up to you. But you can also hold both if you want.

I really hope that if there would be the necessary split it would not be as bloody as what happened to Ethereum. Here are already those who are campaigning for Bitcoin Cash even if the said coin is not yet existing. I heard that in the market its value is also following that of BTC that is it is dropping right now.

[Edwardard]

How to get the bcc? Is it enough to have bitcoins in own wallet or must we take action?

ViaBTC has already started trading BCC. You don't need to take any action on your bitcoin wallet right now. Just make sure you have the control over your private keys and wait for Aug 1.

[maeusi]

How to get the bcc? Is it enough to have bitcoins in own wallet or must we take action?

ViaBTC has already started trading BCC. You don't need to take any action on your bitcoin wallet right now. Just make sure you have the control over your private keys and wait for Aug 1.

Many thanks. I only am not sure about the private key. Have the coinomi wallet with a 15 words key. Think, that should it be, right?
Would we also get btc for bcc?

[adzino]

As long as you hold your private keys and have full control over your coins, you will have access to both coins after the split. These two coins will be different two coins from then, and you can use them separately like you want. You can hold them or sell them as you like.