Here's What CEOs Around the World Are Saying About the Bitcoin Fork

Marcus Newton
August 2, 2017

Following any potential fork, Greyscale Investments has stated that it expects to cause the Bitcoin Investment Trust to liquidate any Bitcoin Cash associated with the Bitcoin held by the Trust, and to cause the proceeds of such liquidation to be distributed on a pro rata basis to holders of units of the Trust.

The creators of Bitcoin Cash believe support for segregated witness was a mistake - and a diversion from Satoshi Nakamoto's vision for Bitcoin - and they aim to help bitcoin scale by immediately increasing the block size from 1 MB to 8 MB.

Anyone who owns bitcoin will also own the same number of Bitcoin Cash units.

However, to make sure that you've access to your Bitcoin Cash, please check that your exchange supports it. Crucially, that could motivate more miners to put their computing power to work on maintaining Bitcoin Cash's new blockchain, making it more reliable and stable, Sirer says. Bitcoin Cash emerged as the final solution. To enjoy this extra currency, you should check with your platform and wallet to see what the company policy is.

The split of the bitcoin blockchain has begun.

Bitcoin Cash started gaining traction in the past week, just as miners fended off another split by rallying behind the scaling mechanism known as SegWit2X.

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But then ex-Facebook engineer Amaury Sechet and other Bitcoin insiders revealed plans to launch Bitcoin Cash on 1 August at 12:20 UTC (13:20 BST).

As July rolls to an end, the digital currency space is getting ready for a potentially market moving event which could see Bitcoin and blockchain split into two, ramping up the volatility in a market that already sees price swings in excess of 15% - 20% on a daily basis. The actual bitcoin cash coins do not exist yet, so we shouldn't extrapolate too much from the week that bitcoin cash futures were trading on ViaBTC. If you want to be absolutely sure that you have access to all the Bitcoin Cash that you now hold as Bitcoin you will have to either move your Bitcoin to a private wallet or move them to a trusted exchange that offers Bitcoin Cash account crediting.

Bitcoin Cash is not worth the same as bitcoin.

Dr Hileman said the price will depend on which exchanges allow trading on bitcoin cash and whether users decide to sell, buy or hold it. A group of miners, developers, investors, and bitcoin users will upgrade the Bitcoin protocol as specified by the User Activated Hard Fork (UAHF).

Users with BTC in their Cryptopia accounts will be credited with an equal amount of BCH should the fork occur. This new Bitcoin hard fork is confusing lots of people. We have absolutely no plans to integrate Bitcoin Cash at our machines at this time. Since bitcoin is powered by open-source code, any group of coders can use it to create clone coins. From August 1, things could change forever for Bitcoin enthusiasts. On July 23, enough bitcoin miners had pledged their support to the fix that it was locked in.

But some digital currency exchange operators- including Coinbase and Bitstamp - have said they won't support Bitcoin Cash. Some leading bitcoin-storage services have said they won't recognize the new currency, forcing people to move their business if they want to claim the new variety of cryptocoins.

Other reports by MaliBehiribAe

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