Bitcoin Hardfork August 1st
Bitocoin will be hardforked by ViaBTC and other supporters. It seems confirmed.
https://www.bitcoincash.org/
Bitcoin Cash, the hardforked Bitcoin is already on future market.
https://coinmarketcap.com/currencies/bitcoin-cash/
It marked 900 USD and it is currently around 450.
Things you have to be careful of:
- Make sure you put your Bitcoin in your personal wallet before hardfork happens. Coinbase already announced that they are not supporting Bitcon Cash
- Do not trade Bitcoin after the hardfork for a while. There is a potential risk that your transaction can be tracked and hack your BCC
- No panic sell, just hodl as always if you believe in it.
Bitcoin price will consolidate after a while, it already went down about 10% after the announcement of bitcoincash.org.
Difference between these two:
- Origial bitcoin now has segwit, could go further with segwit 2X later on. segwit activation takes 2-3 weeks to complete
- Bitcoin cash has no segwit, simply with bigger block size upto 8MB.
I am not sure if BCC has security for replay attack, Bitcoin clearly has higher security. If the scaling is the only issue, there is still a case to use sidechain etc.
It is depending on how many people support BCC but I am guessing that people will sell BCC and put the money into BTC or altcoins, or cashout.
BCC will brings market cap, it is like free money for Bitcoin owners, I am curious that where it will go.
What is your thought?
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