Bitcoin FORK and BCC (free money?)

Not posted anywhere here...seems to be a bit of a graveyard around lately. But for anyone who hasnt lost all their BTC to markets closing or vendors scamming BTC is going to hard fork on Aug1 (most of us knew this).

Segwit and all that jazz is locked in but what is kind of a new revelation is that the new currency called bitcoin cash (valued at around $500 now) will rise from the ashes of august 1st and will be using the previous blockchain but from then on will be separate.

For anyone not familiar with the ETH split this means that : As long as you are in control of YOUR PRIVATE KEY(before aug 1) , you will be able to get 1:1 BCC to BTC after august 1st. [For example: I have 1 Btc, after aug 1 I will have 1 btc and 1 BCC]

Essentially "free money". Having coins in coinbase will not yield you BCC since they have stated they will not support it and will likely just siphon it from users themselves and sell on exchanges. Some sketchy chinese exchanges will handle the fork for you or might steal/freeze your money.

To do more research check out these fuckers https://www.reddit.com/r/Bitcoin/comments/6q4zv9/request_a_guide_to_dumping_bcc/

Seems like people will dump it quick but it might be worth it for some free money. In summary keep BTC in a personal wallet till after aug 1 and you will get equal amount BCC.

Wanted to contribute a bit of positivity to the lovely community who has been under seige as of lately.

Thanks


Comments


[7 Points] Sevigor:

If i had to take a guess, after the fork, the price of BTC will crash hard.


[4 Points] 90210BitchTits:

So severla hundred of mllions of dollars will just pop out of thin air? If this were true this would be the investment opportunity of a lifetime. BTC would be at $50k a coin as billoinaire investors look to make a 20% profit on $1,000,000,000 in 24 hour period.

If something seems to good to be true it probably is. Don't go and fuck yourself kiddo. Only spend what you can afford to lose.


[2 Points] MistressTab:

BCC is going to be a useless shitcoin. It's just a few loudmouths making a ruckus about forking, even if it does happen it will be nothing but an insecure altcoin headed towards centralization, and hopefully won't effect the value of BTC.


[2 Points] madeusch:

I thought that BTC will go down by the value of the new BCC. So if bitcoin is worth 2k before 1st august, it will be 1500 and BCC will be 500 for example. Is this correct?


[2 Points] None:

[deleted]


[1 Points] mescalineextracter:

Sent some coin to CGMC today, am I screwed?


[1 Points] SlipperyKITTY2:

From my understanding if you have 1 btc you will also have 1bcc after the fork, But when you spend .5 btc it also takes .5bcc So you get both but can only spend one


[1 Points] Greengrass444:

What is the best wallet to keep your coins in during the fork, which will give you both btc and bcc?


[-1 Points] Cocinacowboy:

The coins get split, thus your 1btc turns into half of each coin.