(Image Credit: Wired.com)
Warning! If you're like me and are a passive investor, you may have missed the news that there is a massive fork imminently coming for Bitcoin. As of August 1st, the Bitcoin network is splitting into two parts: Bitcoin (currency code BTC - which some call Bitcoin Core or Bitcoin Blockstream) and Bitcoin Cash (currency code BCC - which some are calling the Big Block fork.)
This means all current holders (fine, "hodlers") of Bitcoin will have coins in BOTH blockchains, but only those who are holding the coins before the August 1st fork occurs will holding coins in both blockchains.
But here's the problem and the important part to understand...not all exchanges and wallets are supporting the Bitcoin Cash (BCC) fork. For example, due to "technical difficulties," the largest on/off ramp for Bitcoin and exchange Coinbase will NOT be supporting BCC for users in any way. They claim if there is enough support for it down the road that they "may," but given their questionable support in the past in situations like this (namely, the Ethereum Classic fork of Ethereum) it is incredibly unlikely that users will ever see any of that money.
There is still time to make sure you get access to your rightful BCC...but not much. If you are holding money in a wallet or exchange that does NOT support Bitcoin Cash, you need to get your Bitcoin onto a supporting exchange or wallet ASAP. Right now. There is virtually NO time for you to delay - really! - because all exchanges are suspending withdrawals/deposits for several hours (or in some cases, longer) during the August 1st fork.
THIS IS YOUR LAST CHANCE TO CLAIM YOUR BITCOIN CASH.
Do NOT make the mistake of thinking that this is "worthless" or not worth your time - it is very, very likely that Bitcoin Cash will become the "Ethereum Classic to Ethereum" and be worth a significant amount for years to come.
I would also suggest you don't make the mistake that many will of "dumping" your BCC immediately. I'll explain more in a future post, but it's probable that BCC will grow in value due to the massive amounts of Chinese and venture capital behind it.
Ignore the Bitcoin "civil war." Be in a position to profit from it instead by having your coins in a supported wallet or with a trustworthy exchange. Suggestions below...
Resources for learning more about Bitcoin Cash (and claiming it):
Bitcoin Cash - "official" website of BCC. Note the substantial Chinese exchange support.
Electrum - a software wallet that offers instructions on how to split your BCC from your BTC holdings.
Trezor - a hardware wallet that is supporting the BCC currency.
Bittrex - a U.S. based exchange that will grant BCC to all users on a 1:1 basis based on the amount of BTC holdings on August 1st. Read their news article here.
Kraken - another large exchange offering support for BCC.
AGAIN, DO NOT WAIT TO DO THIS! Claim your BCC by having your BTC in the right place at the right time. If you have questions, please post a reply so other Steemit users can help you. If you found this article useful, please support us with a quick upvote.
Thank you and good luck (and fortune) with your new BCC!