So here's my simplest explanation from my understanding on how to technically cash in on Bitcoin Cash.
Note: there may be a number of risks with this approach
eg
a.btcc fork ends up gaining much momentum causing btc to devalue
b. wallet software may not be reliable
c. there may be implied trust in exchanges that aren't really prepared for all these changes
Please feel free to comment capture additional detail around risks or questions. I'm in no way advocating this approach but just trying to gain some clarity on the technology and what it means.
Anyway my understanding is that if u own btc and want to cash out out btcc then u could technically do the following:
- Download a btcc wallet/client (I believe Bitcoin abc is one - but haven't looked at it all)
- Import private keys from your main Bitcoin wallet into it (risks??) this should result in an equivalent btcc amount.
- Find an intermediary who's willling to exchange for btc (who is there? Are they all freezing for a short time?).
- Cash out.
Step 3 shd not be able to repeated as step one. Eg, the private keys associated with the Bitcoin that was just exchanged shouldnt be able to be imported into btcc wallet software. This should be due to rules being different just after the point in time the chain split.
Does this make sense? Or will it all be irrelevant in 48hrs :p