In a few days it will be the 1st of August, a day which will be remembered for long by every Bitcoin holder/enthusiast. It's most likely despite the Segwit2x's current process still a user activated hard fork called “Bitcoin Cash” will happen.
Bitcoin Cash is a token that will most likely exist in the near future due to a user-activated hard fork. This will split the Bitcoin chain into two branches. Everyone who hold Bitcoin at the moment of the split will get coins on both chains (Bitcoin and Bitcoin Cash).
The difference between Bitcoin and Bitcoin Cash
There will be a few differences between Bitcoin and Bitcoin cash:
- Increased Block Size Limit: Bitcoin Cash will have a 8MB Block Size Limit
- Replay and Wipeout Protection: When two chains persist, Bitcoin Cash will minimizes the user disruption and permits safe coexistence of the two chains.
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A new transaction type: Bitcoin Cash will add improved hardware wallet security, and elimination of the quadratic hashing problem.
How to obtain Bitcoin Cash
If you want to obtain Bitcoin cash you must hold Bitcoin at the moment of the split, this will be 1st of August. Also you should keep those Bitcoin off the exchange in a wallet where you own the private key off. You can use the Bitcoin wallet, or a 3th application like Jaxx. After the split you will get the Bitcoin Cash in your wallet automatically, when it supports Bitcoin Cash. At the moment of writing the BCC (Bitcoin Cash) futures go on the market for about $450-$550.
If you have any further questions ask them in the comments bellow.Like what you are reading? Please consider giving me an upvote and a resteem. Also note that I’m not a financial adviser and nothing you read from me should be considered investment advice.
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great post dan, I know a lot of people have questions about this and this answered many of mine. One I still have is how is BCC being traded if its not actually out yet and can't be bought?
It's a future, an exchange offers it in the hope you buy it already. Infact u buy a token for the future BCC release. After the launch it will be automatically go for 1 BCC. The price will lower after the release of BCC so they make profit on it for sure