Post
Topic
Board Announcements (Altcoins)
Re: [ANN] Bitcoin Cash - Fork 1:1 of Bitcoin - Pro on-chain scaling
by
junan1
on 24/07/2017, 15:45:49 UTC
so if  we hold our bitcoin until 2017.08 01 we will get bitcoin cash?  Huh

anyone can tell me ? thank you

If you have exclusive control of say 10 bitcoins (private key / mnemonic seed) and hold them through the fork then you'll naturally have 10 "bitcoins" on each branch (10 BitcoinCore-coins and 10 BitcoinCash-coins if you will).  After the fork, if you are careful (use trustworthy guides and services), then you'll be able to move the 10 coins of one branch without moving their twins on the other branch (see: "replay attacks").  If you only care about one branch then you can sell the coins on the other branch.

Of course, it would be extremely confusing to call both of these assets "bitcoin" so at least one branch will need a new name and ticker.  While imperfect, the most popular assignment is currently:
  • For the Bitcoin Core fork: "bitcoin", "BTC"
  • For the Bitcoin Cash fork: "bitcoincash", "BCC" (caution: conflicts with BitConnect Coin)
how is this different then dumping any sha256 coin for bitcoin? this is just an altcoin, free airdrop also

With airdrops, you typically use signed messages or micro-payments to claim coins on some other ledger.  Here, you have a single private key which controls coins on a pair of ledgers with a common transaction history.  Please be wary of trusting your private keys to new software.

"Altcoin" implies not Bitcoin but both of these coins have a good claim to the name "Bitcoin".

If you think that one of the branches is not really Bitcoin then I challenge you to identify it and explain why.