Very Quick Guide To Get BCC on 1st of August (BTC UAHF)steemCreated with Sketch.

in crypto •  last year

Important note: Quite a few trusted exchanges have stated that they'll be supporting BCC. The exchanges include Bitfinex, Kraken and Bittrex! If it's easier for you, you can send your BTC to those exchanges and be credited BCC there.

Know your private keys.


That is it, the only thing you need to worry about is having access to your addresses private keys. I don't understand why I see so many long videos wasting everyone's times on this.

The reason you should not keep your bitcoins on an exchange is because you can't know the private key of your address in the exchange, and the exchange(knowing your private key) might not give you the forked bitcoin cash(BCC).

It does not matter what wallet you use, exodus, jazz, bitcoin-qt or any other. If you know your private key you control your address and it makes perfect sense that if you only know your public key (like in the exchanges) you wont be able to use BCC, unless the exchange adds the coin to their platform in which case they'll probably just use your bitcoin address, but to be safe you should either way know your private key.

There are different ways to know your private keys on the wallet clients, just search on the web for how to see the private key on your specific wallet client. To use your BCC you'll need to use a wallet client that supports BCC and import your addresses with the private keys to the wallet client, wallet clients that support BCC are on their site www.bitcoincash.org under "wallets".

When the chain splits two coins will be left, BTC and BCC. Both coins will have the same chain from 1st august prior, but they will create different chains starting august 1st.

Essentially, two coins must be created because the chains use different structures.

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  • BCC will be using 8 MB blocks for the chain, right now BTC uses 1MB. The blockchain will increase eight times in size, and there might be problems for the nodes with this solution.

78da39_0211960888b44889967bc26def621b0a-mv2.jpeg

  • BTC will be using the segwit structure for the blockchain, a smart way to increase the size of a block by decreasing the space usage in the block. Also, later this year segwit2x will activate and the block size will be doubled(2Xed) from 1MB to 2MB, this might cause another chain slipt and two more coins to be created from one.

BCC didn't need to happen, since there is already huge consensus by the miners worldwide to go with segwit2x, but the greedy exchange ViaBTC and some stubborn miners and developers decided to support this.

Although it's going to be interesting to see what happens, BCC can act like a test for block size increase since BTC will increase to 2MB size when the blockchain starts using segwit2x blocks, it's not the same increase(BCC is 8X) but it might be useful as a test anyway. You can read up on BCC in their website www.bitcoincash.org.


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This post received a 2.1% upvote from @randowhale thanks to @joaol! For more information, click here!

Upvoted and followed, thanks! Do you know if any exchanges are on board, or if we should withdraw everything?

Poloniex has withdrawal limits, I just requested they be removed... Down to the wire here! :)

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A few exchanges, like kraken, bitfinex and bittrex, have declared that they will support BCC and credit your account with the same amount you have in BTC.

Bitfinex: https://www.bitfinex.com/posts/212/review

Kranken: http://blog.kraken.com/post/1150/bitcoin-cash-and-a-critical-alert-for-bitcoin-margin-traders/

Bittrex: https://support.bittrex.com/hc/en-us/articles/115000808991-Statement-on-Bitcoin-Cash-BCC-

In terms of poloniex, they stated:

“Even if two viable blockchains emerge, we may or may not support both and will make such a decision only after we are satisfied that we can safely support either blockchain in an enterprise environment,” explains the U.S. based exchange Poloniex.

Source: https://news.bitcoin.com/fork-watch-these-bitcoin-exchanges-will-not-support-bitcoin-cash/

Either way, if you hold your private key you can import your wallet into a wallet client listed on https://www.bitcoincash.org/ and use your BCC.

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Thanks a bunch. I don't like Polo's statement much, nor do I like the withdrawal restrictions. 18 hours later and they haven't responded to the ticket, but, it is the weekend...

I believe the only part necessary is that I have my private key, correct? In other words, I don't need to download new wallet software in the next 36 or so hours in order to take part, do I? (Currently using Bitcoin Core v0.14.2.0.)

You assistance is appreciated, thanks again!

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"I don't need to download new wallet software in the next 36 or so hours in order to take part, do I? "
No, if someone says you need to download some wallet to claim the BCC then it's a phishing scam.
If you hold your bitcoins in an address that you know the private keys then you will have controll over your BCC.

For now the wallets that will show you your BCC if you import the private keys are the wallets listed on the official bitcoin cash site.

The integration of BCC into more well known wallets will take some time, for example jaxx:
http://decentral.ca/jaxx-statement-bitcoin-cash-bch/

If you don't trust those wallets and don't want to wait for more well known wallets to implement BCC you could send your BTC to a trusted exchange that will credit you with the BCC, like bittrex.