Bitcoin's upcoming fork has social media stirring with mixed emotions.
By now the pending fork of Bitcoin has made it's way to anyone with the slightest amount of crypto-curiosity.
For those that may be unaware, the fork, is a split in the Bitcoin architecture that will result in two identical copies of Bitcoin at the time of the split. It's important to note that after the split the two copies will go thier own way and develop features specific to their set of goals. This is where the commotion kicks in.
The fork brings a new cryptocurrency symbol, BCC, BCH, or Bitcoin Cash, depending on who you're talking to. Bitcoin Cash is Bitcoin's twin at time of conception. From there the two take completely different approaches at solving similar problems which is met with scrunity on either side. Bitcoin Cash drops support for Segwit and increaces the blocksize while Bitcoin moves on with activated Segwit. Both directions are met with pro's and con's and there are supporters on either side. Though, it would seem there is more support for Bitcoin and the Segwit option, Bitcoin Cash and it's supporters are coming out swinging and looking strong.
There's is still a lot of uncertainity around the fork and the future Bitcoin and how it will all play out. While we wait to find out here's a couple things to remember:
- Make sure you have you private keys stored securely
- Do not sell or trade your coins immediately after the split and possibly several days to weeks after, depending on how it all goes.
If the suspense wasn't enough, come watch the countdown with us!