What to Do before Aug 1st (Bitcoin Split)

in bitcoin •  7 years ago 

The split is coming - Bitcoin is very likely to split into Bitcoin and Bitcoin Cash. Find out what is happening, why it's happening and how to make sure you can claim your Bitcoin cash (and some potential risks).

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Paper wallet works?

: )

#payitforward

Yes it does, anything you have the private key in your control.

I would say to just hold if you have any currency other than bitcoin, but if you have bitcoin, right now is a good time to put it into USDT

And miss the opportunity to double your bitcoin ? I am not so sure it's a good idea...

yup! paper is awesome but I'm so forgetful and lose things all the time. no matter how important it is, it gets lost.

I'll have my own wallet and control my own keys, I want the BCC to sell for more Bitcoin!

Hey! @boxmining we've featured you and a few others on the latest episode of "Why This Crypto"! ^_^ really hope you enjoy Mike!

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https://steemit.com/eos/@vizualsamuri/eos-why-this-crypto-ep-5-2017728t13204320z

oh wow thanks! that animation is so cool!

Of course bro!!

This is the first time I have heard you use cuss. LoL. Another great video. Thanks Michael.

was going to issue a parental advisory at the start but got too tired. :D

Haha nice. LoL.

I have my BTC on a ledger nano s. What do I have to do in order to get BTCC? Good Video!

You will automatically get BCC when it splits. To access the funds you will need to wait for ledger to issue an update.

thank you! =)

All you need to do is chill. Think about what the masses will do in their panic and then act accordingly, set your trades and walk away from the PC for a few days.

Hey,
can you tell how to send the Bitcoin Cash from a paper wallet to another while not touching BTC ?
How does a wallet with both currencies looks like ?

good video.... nice explanation

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Thank you for sharing precious information with us , even if i'm new here and don't understand much about cryptocurrency i'm interested and i found your articles very useful.Followed

TY for this info . I see why it's in the HOT section .

As far as I can see just hold your balls good and tight, cheers mike

Very informative video like always. You are transforming into the number one source for high quality crypto news. :)

What sucks is the majority of exchanges are going to freeze during this transition. We're going to miss out on a good buy cycle.

Then buy elsewhere like blockchain.info ....

Great info
Knowledge is the strongest weapon against FUD

What to do before August 1st? Move to a private wallet.
What to do after August 1st? Panic! Panic! Sell sell sell! FUD FTW. :D

Michael, you are so correct. This is really an embarassement for our industry!

People switching to Bitcoin still will lose out. Apart from paying the spread for converting in bitcoin they also pay more due to the difference in performance today between bitcoin and altcoins.
Further there is no gain to be made.Just like dividend payments for shares, Bitcoin will be worth less after the fork roughly by the amount bitcoin cash will be worth. So don't buy bitcoins now from your altcoins!

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