It looks like we’re getting two ‘Bitcoins’.
After all the back and forth between SegWit2x and BIP148 I thought we might have avoided a split. But then Bitcoin Cash threw us for a loop.
And now we’ll be getting Bitcoin Cash. They’re giving it the symbol BCC, but that’s BitConnect’s. I’ve also seen BCH. We’ll see.
Whatever the symbol, it will be an altcoin, and not another bitcoin.
Bitcoin Cash is being led by ViaBTC, a Chinese mining company.
Bitmain and Jihan Wu say they’re not behind this, but I don’t believe it for a second. This is just Bitcoin Unlimited in disguise.
Whether it will be successful or not, we’ll let the market decide.
All the Bitcoin maximalists are saying it’s going to zero or near zero. But I’m sure folks like Roger Ver and John McAfee think otherwise.
What’s apparent though is a lot of people are selling their altcoins to get more Bitcoin to get more ‘free’ Bitcoin Cash.
So I see a lot of selling ahead for Bitcoin Cash, at least on the first day.
I haven’t decided what to do with mine. ETC ended up going up over 20 times, just saying.
To get the Bitcoin Cash make sure you have your BTC store in a wallet where you control the private keys. That means don’t keep it on Coinbase.
I recommend the Ledger Nano.
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