You need to check for yourself, but I *think* blockchain.info is fine. You really do need to check for yourself though, and learn what is going on.
Quote:
Originally Posted by Cincinnatus
I'm confused by this hard fork thing with BCC. If this hard fork happens on August 1st, does that mean i'll have some of my BTC converted to BCC? Or will blockchain.info not do that for me?
Hopefully you are familiar with the sci-fi thing of "parallel universes". For each decision point in your life, another you in a parallel universe chose the other path and life played out differently (or not). Right?
None of your BTC are lost, or converted.
Let's say you hold 1 BTC, and it's worth $2.5k USD today.
At the moment of the split, a "parallel universe" is created in Bitcoin. What was one blockchain becomes two, their prior history identical but going forward they will make different decisions and their paths diverge. IF you hold the private key to your address, since the new blockchain is a direct copy of the old one before Aug 1st, you now have 1 coin on each chain. That will be 1 BTC, and 1 BCC. Nothing was converted. Because the new chain is a perfect copy, the same private key can spend an address on both chains.
Now what will happen is anyone's guess, but it's certain the price of BTC will not remain exactly $2500 and BCC $0. It could be an even split, prices could swing all over the place, both could rocket to the moon or both could tank hard. BCC could end up worth nothing and this was all a load of pointless fuss.
If you're a BTC true believer, you'll prob sell your BCC asap and buy more BTC with it. The opposite in the opposite case. Yay free money, with any luck.
There may be a s***show where it is unclear which coins on which chain you are spending.
That is all IF you have control of the address the coins are in - that is IF you have the private key.
If your coins are off-chain, let's say in Coinbase - you do not have a private key. Coinbase has mountains of BTC in their master accounts, you have 1 BTC only as a record in their database. Coinbase will get the BCC, not you. If BCC captures the majority of the market, it may be worth $2,400 while the old BTC are now only $100. This is the danger, and why if you're holding BTC over the period of the split, you really must be in control of your private keys if you have any sense - otherwise you're relying on the promises of others "oh yeah we'll give you them later, sure'. Coinbase has announced they will not be supporting the new chain, so even though they will have the coins they won't be linked to you and you won't be getting them out.
Last edited by _dave_; 07-24-2017 at 02:46 PM.