RE: What's the deal with Bitcoin Cash (BCC)? (Does the recent fork mean I now have a bunch more money automatically?) 10 SBD tip for most helpful answer.
If you held your Bitcoin in an exchange that supports Bitcoin Cash, or privately in your own wallet, you should have an equal amount of Bitcoin and Bitcoin Cash. If you have a hardware wallet like the Ledger Nano S, you'll want to google for instructions on accessing it.
Bitcoin Cash is now the real Bitcoin, as defined in the whitepaper. 100% of transactions are on chain and the public ledger. Bitcoin is now no longer the real white-paper Bitcoin, as it has introduced off-chain transactions and trust into a trustless system. It's basically Litecoin now, and I call it SegWitCoin.
It's a bit early for this but some hardware wallets are ahead of the game. I don't like Trezor anymore but I think them and Ledger both have support. For other applications, a paper wallet might be best for now.
I think the market, which generally doesn't understand what it invests in too well, will see this as a positive for SegWitCoin. The market abhors uncertainty and I think it wants calmness after years of scaling, so it will embrace even a technologically inferior option like SegWitCoin.
The technical reasons that make Bitcoin Cash superior are unlikely to be valued by the mass of the market (trustless, no AXA co-option, etc.) because the mass of the market usually has only the barest grasp on fundamentals, if at all.
I would not be a buyer of Bitcoin Cash here. There is a huge amount waiting to be dumped on exchanges but it can't be yet because most exchanges haven't enabled withdrawals, some are requiring like 20 confirmations, and the Bitcoin Cash chain is not processing enough blocks to move transactions yet. Hopefully that's fixed by a difficulty adjustment.
I predict Bitcoin may see a price jump if Bitcoin Cash becomes more easily dump-able. Dangerous to buy in near a large round number like $3000.
Hope this helps.
TLDR - Bitcoin Cash is Betamax, Bitcoin (SegWitCoin) is VHS:
"Betamax is, in theory, a superior recording format over VHS due to resolution (250 lines vs. 240 lines), slightly superior sound, and a more stable image; Betamax recorders were also of higher quality construction."
10 SBD on the way. Thank you!!!!
Thanks Kafka!