💵 August 1 2017 brings along one of the biggest updates Bitcoin has ever faced 💵
In these last few days , before the month of August is upon us ,a lot of interesting,but yet exciting news has been released on the subject of Bitcoin and the much needed Hardfork(also known as UAHF or Bitcoin Cash)
The Bitcoin market will most likely be very volatile in the month of August,as Bitcoin core and the newly forked release will have to be settled and accepted by the community.
What will this "Bitcoin Cash" be? And how will it affect your holdings on Bitcoin? -
Bitcoin Cash or "UAHF" is an alternative token to Bitcoin as we know it now,that will come into existance once the split has happened.
For those who are part of the Bitcoin community in the long run,this update or "split" will not affect them much,seeing that holders of the Bitcoin crypto-currency will be credited with Bitcoin Cash equal to their existing balance of Bitcoin once the event has completed.
However it is not certain what the market value either of these coins will have,seeing that they will be two rival chains,with Bitcoin cash being a bit different in the following ways:
-SegWit:
Bitcoin Cash will not implement SegWit
-Blocksize:
Immediate increase from 1MB to 8MB
-Coexistence:
Replay and wipe out protections ensures that should the two chains continue to compete, Bitcoin Cash aims to reduce user disruption and allows for the safe existence of two chains.
-cryptocoinsnews.com-
Users will be able to sell their balance of Bitcoin cash for Bitcoin,but it is recommended to store your asset on offline accounts,and use exchanges that will guarantee your credit of Bitcoin Cash
Well trusted exchanges like Bittrex has signaled their support of Bitcoin Cash
If you have a Bitcoin (BTC) balance on Bittrex during the BCC UAHF time on August 1st, 5:20am (12:20pm UTC), you will be additionally credited the equivalent amount of Bitcoin Cash (BCC) on a 1:1 basis. i.e. 1 BTC on Bittrex held during the on-exchange snapshot will get you 1 BCC.
💲Are you holding your asset to get a piece of Bitcoin Cash(BCC), or have you sold to buy in on some of the other market hypes happening this August?💲
Thank you very much for reading,please remember to leave an up vote if you enjoyed this post.
Regards,
@gingerninja
