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RE: How am I going to deal with Segwit and BitcoinCash BCC? Should you get comfortable with taking loses?

in #trading • 7 years ago

hi luc, what if i do not possess BTC right now (all i have is ETH), shall i change it into BTC? do not know what gonna happen in 1.Aug,

7 years ago in #trading by
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     7 years ago  

    I would never tell anyone what to do.. Im no expert on cryptocurrency.. I just know how to trade like a mad man.. But I have no idea, whats really going to happen Aug 1st

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     7 years ago  

    The most important thing to know for August 1st is that if you have control over your private keys, you will get BCC. If your storing money on an exchange, you lose this control - at which point its up to the decision of the exchange if you get BCC or not. If your storing BTC on an online wallet like Blockchain.info then you do not control your private keys.

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       7 years ago  

      Would something like Coinomi give us control over our private keys, allowing us to grab some BCC?

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         7 years ago  

        Coinigy is an interface, not a wallet. Coinigy has no access to your private keys (or public keys for that matter). The private keys are being stored by your wallet and /or exchange. Some exchanges have refused to support bcc because it is a maverick coin that is bad for the cryptocurrency image and ecosystem, I agree with that sentiment.

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           7 years ago  

          A month late, I know, but I believe @cmd-space meant Coinomi, the multi-coin HD wallet, not the charting/trading platform

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             7 years ago (edited) 

            It's your call but if you convert ETH to BTC now ideally by 30 July, after 1st August, you will have both BTC and the new hard-forked coin called Bitcoin Cash (BCC) as a bonus. Whatever amount of BTC you will have before 1st August, you will get the same amount of BCC as a bonus! But keep in mind that the price of BTC and BCC will fluctuate a lot during this time.

            Also, if you want the BCC, make sure you keep your BTC in a hardware wallet (ledger nano, trezor) or a software wallet (coinomi, jaxx) your have control over (you have the private keys).

            https://medium.com/@jimmysong/bitcoin-cash-what-you-need-to-know-c25df28995cf

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               7 years ago  

              Thank you very much, typed a lot to explain it for me.Again, thank you very much, all the best for you.

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