WHO WILL MAKE THE NEW BITCOIN?

in #bitcoin9 years ago

Tomorrow, August 1, is the first time we witness the splitting of Battle on two separate networks (hard fork). A small part of the Battleknot community was dissatisfied with the latest developments in the capacity expansion of the crypto block and supported the creation of Bitcoin Cash

Bitmain, the Chinese manufacturer of ASIC diggers and the operator of one of the largest Battlefield pools, originally created Bitcoin Cash software that does not use SegWit technology, and increased the block size 8 times.
At present, only 0.26% of the world's computing power supports this decision, among which it is interesting that they are not Bitmain. Bitcoin Cash is now traded via ViaBTC futures, but its value is only 12% of the original BitCen. It remains, however, to see how these numbers will change after the activation of the Force.

How will exchanges deal with splitting?
If you hold the Battle in your own wallet, you have no place to worry, because after splitting you will get the same amount from the new Battlefield. Then it is entirely your decision whether to trade or sell your BCC tokens. However, if you do not plan to download your Battle from an Exchange, which is not advisable, they will decide for you whether you will have BattleKnight on the new network. Here is the decision of some of the most famous exchanges.

Bitfinex
You will receive Bitcoin Cash and you will probably be able to trade it on the Exchange after 1 August. Keep in mind, however, that you may not receive the same amount of new Battle you own from the original. For now, they do not report whether deposits and withdrawals will be suspended for a certain time, but it is entirely possible.
Bitstamp
If you have a Battle on this Exchange, you will not receive any Bitcoin Cash and you will not be able to trade it. About 2 o'clock (Bulgarian time) this night, all deposits and withdrawals will be discontinued.
Bittrex
You will receive Bitcoin Cash at a ratio of 1: 1 to the amount you hold on this BTC exchange but it is still unclear whether you will be able to trade the new BattleKnight. Around 3:30 tonight, all the deposits and withdrawals of Bitkine will be suspended.
Coinbase / GDAX
You will not get the new BattleKnight, nor will you be able to trade. Deposits and withdrawals at Bitkine will be discontinued around 4 hours before splitting.
Huobi
The Chinese Exchange will support the new Battlefield and its trade. Deposits and withdrawals will be discontinued around 3 am on the night of 1 August.
Kraken
You will get from the new BattleKnight and you can trade it against BattleKnight, Euro and Dollar. You will not be able to withdraw and deposit money after 2 hours of Bulgarian time tonight.
OKCoin
You will receive Bitcoin Cash Token, but it is unclear whether the Exchange will support their trading. Deposits and withdrawals are suspended from July 31 to August 2.
Poloniex
You'll probably get Bitcoin Cash and you'll be able to trade, but it's still not certain. The stock also does not give the exact time they will stop taking deposits and withdrawals.
ViaBTC
You will get Battle and you can trade it. The Exchange is one of the biggest supporters of the new BattleKnight. Note that deposits and withdrawals will be discontinued this night.

And the wallets?
Whether your wallet will support the new BattleKnight, as long as you remember your secret 12-word phrase, you will not have a problem.
To access your Bitcoin Cash, you generally need to enter these 12 words in a wallet that supports the new BattleKnight. Be extremely careful when you draw such a ball, because if your computer is infected with a virus, your secret phrase can be stolen. It is recommended that after splitting first move your Battle (the original) to a new wallet with new phrases and passwords. Then use the initial secret phrase from the wallet where you kept your Battle during the splitting to get your Bitcoin Cash holdings. This way, even if this phrase is stolen from you, hackers will not have access to your original Battle you've already moved.

Bitcoin Core (Bitcoin QT)
Warning: If you install Cash on the same computer that you hold Bitcoin Core is dangerous. Cash will save information on the old one, which can delete your balance! Make a backup of your information, especially the wallet.dat file, before installing Cash.
Bitcoin Core will not support Bitcoin Cash in any way.
Electrum
The wallet does not support the new BattleKnight. Even the recently released Electrum Cash Portfolio has nothing to do with the original and violates trademark laws.
Exodus
They will not support Bitcoin Cash.
Safe
The hardware wallet will support Bitcoin Cash. Go to their online platform and take the necessary steps to access your new BattleKnight.
Ledger
Just like Trezor, go to their online platform and follow the steps.
JAXX
They are working on the integration of Bitcoin Cash, so that as long as this does not happen, you will not be able to access and you will not be able to receive and send the new BattleKnight. Still, there is no room for worry as long as you keep your secret 12-word phrase.
Blockchain.info
There is no official statement from them.
Keepkey
They plan to keep all the individual Battleships and allow them to share with each other through ShapeShift.

Thanks for reading, you can follow me here for more articles: @nakedchef89

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This will happen tomorrow.

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