On 1st Aug 2017 Bitcoin will split
from Legacy Bitcoin, same old (BitCoin) into new BitCoin (BitcoinCash). Two totally independent copies of the ledger as if someone had hit the clone button on you and there would instantly be two of you with completely independent lives from the moment you hit the button. There is a list of BitcoinCash supporters at the bottom of post.
Would people accept the new you ?
Or would the new you eventually become more charming and alluring than the old you. If you're reading this and you own Bitcoin you will most likely be aware that you will suddenly find yourself with a duplicate amount of the new stuff in your wallet, if you've prepared well / or are just lucky / a smart cookie anyway ! There may not be much hash support for the new coin but that may change and with a futures values currently around 13% of BitCoin's value it's not to be immediately sniffed at.
What Should I Do ????
The main advice has been don't keep your coin on exchange which is usually a good call anyway, (you don't hold the private keys) which means your coins could just disappear at any moment along with the exchange and there would be nothing you could ever do about it. In this case, they may not be willing or prepared to support the new COIN.
Some exchanges are making the point that they will accommodate the new coin and have prepared to host and distribute it. NO doubt some exchanges will be caught with their trousers down and it won't be good for business.. Everyone who doesn't get their duplicate coins will no doubt want to jump ship in protest so I'm sure everyone will try and get it right, even if bitcoin cash is a total flop (which I doubt.) There's way too much money swishing around for it to sink ! It will take a while, it could take up to a couple of weeks for the new ledger to sync with various platforms & wallets. Leave it alone and when it's done, it will be done ! it might be gone by then, for all we know...
Upgradings ?
The new BitcoinCash will have a slightly different genetic code, so if it's accepted it will run on it's own life with a different personality if enough miners accept it. (Otherwise it will die). In the short term it's future has been trading around the $450 mark, although that could easily go down a lot further as many bitcoin holders will try to immediately offload their copies in exchange for the real thing ! at $450 it's not a bad price for a free giveaway so if you want some you have to make sure your coins are in a safe place for duplication. If your BITCOINS aren't on the list, make sure you know where they. My advice is don't touch anything until it's all blown over, you could lose coins along the way and if you do, there's little chance they'll magically re-appear !
Previous Coin Divorce
We have Ethereum and Ethereum Classic and they seem to have settled their differences, although we can see Ethereum is a strong contender as a challenger for Bitcoin in terms of market leader, ETC is a low value (but still high volume) player. Perhaps new Bitcoin will end up with a similar relationship.
disclaimer
This information is intended as entertainment only and is my personal opinion. You should not rely on this information in place of conducting your own due diligence.
EXCHANGES
WALLETS
to find out more about BITCOINCASH from the horses mouth... >>> CLICK HERE <<< to visit bitcoincash.org