Hello Bitcoin Cash Rockers!
Lovers! :0)
If you follow the Bitcoin Cash news of the last few weeks, you will understand that there will be a Fork on November 15, 2020.
I read all the articles on the subject, mainly on Read.Cash by the way, but a lot of very important topics are not covered. For people who are not really interested in this complex technical part, it would be good to have more basic and functional information.
But for the average user, what will happen?
Will we have to choose a "side"?
Will it still be possible to exchange or use our Bitcoin Cash?
What economic impact could this have on BCH?
From a SLP token point of view?
So Mr Experts, what is waiting for us after the November 15, 2020, Bitcoin Cash Fork?
Merci beaucoup! :0)
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I will make a quick attempt to answer those questions.
No... with qualifications:
Yes.
What exactly "Bitcoin Cash" is, depends on the outcome of the split.
Right now, it's looking like the majority of hashrate, ecosystem etc. supports BCH staying IFP-free.
But every exchange is different, and users need to read up carefully on how the businesses + exchanges and wallet software which they are using, will handle the fork.
My general advice:
GET YOUR COINS OFF EXCHANGES AND INTO A WALLET UNDER YOUR OWN CONTROL, BEFORE NOVEMBER 15.
An excellent wallet to keep your funds safe is the Electron Cash desktop wallet.
I would also recommend the Bitcoin.com wallet.
This greatly depends on the outcome on November 15.
If there is a persistent split, the combined price could stay roughly the same, or it could go lower or higher. We don't know, it depends on market players.
Generally, if a coin splits, both sides lose some of their network effect.
Not sure if this is priced in yet, personally I think BCH is still hugely undervalued anyway...
Again, if you hold your tokens in a wallet where you properly control the keys (like Electron Cash SLP), then no matter what happens, you'll have full access to using them later on.
If your tokens are on some exchange or web wallet where you do not have full control, then you are at the mercy of which chains that provider will be supporting.
Get your tokens into your own token-capable (!) wallet!!!!
And always make sure that you are sending tokens only to a simpleledger: address generated by the receiving wallet.
If you have more questions, let me know.