Thanks for a great explanation.
So basically 25 Oct is a start date of a new crypto.

Initial value of new one is approx nothing but owners of current BTC will get equal qty of the new one which hopefully / probably will be worth something down the track. So something for nothing, as long as you own BTC on that date.
I think that explains why everyone maybe is selling other coins & buying BTC at the moment. Hence Steem price is down ATM

Did I get all that correct?