29 Jul '17, 3pm

Bitcoin holders face sticky decision before August 1 split

With Bitcoin and the blockchain, life continues to be damned if you do and damned if you don’t. On August 1, if you hold any bitcoin, then you’ll receive the equivalent in a new cryptocurrency called “Bitcoin Cash.” The reason why is messy, but you can think of it as a kind of dividend. There’s a catch. If your Bitcoin is held on certain platforms, including the largest one, Coinbase, then you won’t receive your due. That’s because for reasons political or technological, those platforms are automatically rejecting the new currency. (Although Coinbase noted in a tweet yesterday that there’s a possibility it will change its mind .) The rational thing to do then if you own Bitcoin on one of those platforms is to move your funds elsewhere, claim your free Bitcoin cash on August 1, and then move back when things have settled down. That’s the common refrain you’ll find online, b...

Full article: https://venturebeat.com/2017/07/29/bitcoin-holders-face-s...

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