Tonight Is The Night BCC - 4 Things To Consider
Well here we are, BCC activates tonight in which a number of developers and miners will be splitting the bitcoin blockchain into BTC and BCC. In this post I will go over what you could expect to keep you a little more prepared with your crypto.
1 - For every BTC you have you will have the option to change it to BCC if you wish one or the other. This allows for easy transition over to BCC for holders if they wish. However not all wallets are supporting this such as coinbase. If you wish to have the flexibility to covert your BTC to BCC you will need to have a wallet that supports both.
2 - It very well might not fork at all and the project come crashing down to nothing. The code that has to be added into the blockchain very well might just not be pushed and thus BCC is never actually created into its own block chain. However if it does this will most likely introduce a period of very high volatility. Something good for seasoned traders but for those who are not will most likely scare them off.
3 - many large investors have said they will be sitting this out. With to many unknowns happening over the next few months most large investors are not willing to take the risk. Which is understandable as smart investors always look to reduce risk to the downside. The thing that excites many non seasoned investors is the possible high returned with the high risk of possibly losing most of it as well.
4 - World wide advice says get your BTC off of exchanges and into a wallet right now. This opens you to have more control and flexibility for yourself as changes start to take effect.
Thank for the info as always. I'm just patiently waiting for all this craziness to settle down.
Do you know what time this (mayhem) kicks off?
Tuesday, August 1, 2017, at 12:20:00 pm (UTC time) 30% for sure is going towards mining the new coin instead of BTC via Antminer
Thanks @bitcoinflood
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Outstanding post and narrative! Thank you for sharing.
Well let's hope it goes ok, I hope everybody at least keeps at the same value they are right now, at a spot like this not losing is close to winning.
Thanks for the info, Sean. We live in interesting times, don't we?