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‘Bitcoin Cash’ Support Grows as August 1 Draws Near

 ‘Bitcoin Cash’ Support Grows as August 1 Draws Near

 The user-activated hard fork (UAHF) on the Bitcoin network is looming around the corner. ‘Bitcoin Cash’ (BCC; BCH) is slated to break away as a new fork from the Bitcoin blockchain on August 1 at 9:20PM JST or 12:20PM UTC.

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Major Exchanges Embrace Bitcoin Cash

Multiple bitcoin exchanges have signaled support for ‘Bitcoin Cash.’ This news comes alongside the inevitability that a UAHF event will occur.

Last week, Bitcoin.com detailed many of the exchanges and platforms that will be rejecting Bitcoin Cash (BCC), but now more appear to be settling into the idea that it will exist as a legitimate digital token. At the time of writing, futures of BCC are being traded on Viabtc’s exchange for roughly $390.

Fork Watch: Bitcoin Cash Support Grows as Aug 1 Draws Near

Kraken

The large bitcoin exchange Kraken made an announcement yesterday in support of Bitcoin Cash. They said they will be providing users with the ability to trade it on their platform. They pledged to credit clients with an equivalent amount of Bitcoin Cash based on their current holdings of bitcoin.

Although the Bitcoin Cash fork is expected to be minor, it may be successful. Provided that unforeseen circumstances do not make it prohibitively unsafe or difficult for us to do so, Kraken will support Bitcoin Cash…

However, Kraken warned margin traders on their platform to “be very cautious across the fork.” They were told to either greatly reduce their position or cease margin trading altogether to ensure a smooth transition. In the least, they should set stops and not rely on Kraken to function optimally while the fork is in progress.

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Bitfinex

The bitcoin exchange platform Bitfinex also announced they would be supporting bitcoin cash. They plan on providing an amount of bitcoin cash tokens equivalent to that of bitcoin in their customer’s wallets.

Fork Watch: Bitcoin Cash Support Grows as Aug 1 Draws Near

They said, “A minority of Bitcoin miners will be forking on August 1st, 2017 to create a new chain called Bitcoin Cash. The fork does not impact Bitcoin balances, but it creates a new token. At the time of the fork, all Bitcoin addresses holding a balance will automatically have equivalent balances in Bitcoin Cash.”

The company, however, mentioned they will not be using “BCC” for the bitcoin cash ticker symbol. They said it is already in use on their platform. Instead, they will use “BCH.” The company will distribute BCH tokens with the UTC timestamp of the first forking block, which will occur August 1. Their page contains details on how they plan on ironing out the kinks and managing technical issues.

 Hardware Wallet Company’s Support Bitcoin Cash

Besides exchanges, major hardware wallets manufacturers are also supporting Bitcoin Cash. Both Trezor and Ledger have provided details on securing bitcoin cash in their wallets when the fork occurs.

Fork Watch: Bitcoin Cash Support Grows as Aug 1 Draws Near

Trezor wallet said they can safely adopt bitcoin cash functionality with their wallets since the currency supports replay attack protection. They said, “Bitcoin Cash has implemented the necessary protection against replay attacks, meaning Trezor can support the currency safely. We will provide an interface, accessible from Trezor Wallet, where you can access and safely claim your Bitcoin Cash coins. You will be prompted by Trezor Wallet once you select ‘Bitcoin Cash’ in the currency selector.”

As a result of the in-built replay attack protection, Ledger will also provide full functionality for bitcoin cash via their wallets. They say users will be able to gain access to bitcoin cash after the fork by using a special tool. They said users could view bitcoin cash currency as “free air-dropped money.”

As a result, all bitcoin holders will be granted a new duplicated Bitcoin Cash balance (literally airdropped free money) if the fork activates — this post and the follow ups will describe how you can best secure this new balance, then decide to trade it, hold it or sell it as you wish.

Both hardware wallet companies wrote details on their page explaining how to respond to the fork and gain access to freshly minted bitcoin cash.

Many Company’s Working With Bitcoin Cash; Protect Your Keys

Several other exchanges and wallet providers are also signaling their support for the hard-forked token. Exchanges include Quoinexchange, Viabtc, Kcoin, Btcbox, Bithumb, Kex, Mercury Cash, Huobi, Quadrigacx, Toubi, Korbit, Bittrex, and Btcpop. Wallet providers who are adopting Bitcoin Cash include, Bitcoin ABC, Bitcoinclassic, Electrum Cash, and btc.com.

Fork Watch: Bitcoin Cash Support Grows as Aug 1 Draws Near

The exchange Quoinexchange said, “We have also received many inquiries regarding BCC (Bitcoin Cash) crypto currency. As an exchange, our goal is to provide a fair exchange platform which is highly secure and compliant. As a result of the fork, users that hold BTC in their balances at the time of the fork will be credited equivalent BCC. If your account balance at the time of the fork holds 1 BTC, you will be credited 1 BCC.”

These announcements seem to suggest stronger community backing for the fork token. It does not look like the currency will die immediately in the rip and roar of the fork. The future of the digital asset remains uncertain, for sure.

However, the basic rules of forks still apply to everyone regardless of what happens: keep private keys safe. No matter what coin wins out, every bitcoin user should try to maintain their coins with their own securely held private keys. This ensures that control of both coins remain in the user’s hands.

Will bitcoin cash continue to grow after Aug 1? Will it have more supporters? 

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Second Annual Coinsbank Blockchain Cruise ‘Massive Success’

Just recently Bitcoin.com reported on the Second Annual Coinsbank Blockchain Cruise that took place this past May 25th through June 3rd. The event held on the Royal Caribbean’s Anthem of the Seas vessel was filled with a broad range of entertainment and educational resources focused on the future of cryptocurrency solutions and blockchain innovation.

Coinsbank Blockchain Cruise a Massive Success

Coinsbank Blockchain Cruise has ended and was a “massive success” according to attendees and promoters. “Memories were made, and millions of dollars in contracts were entered into and some even executed while on the ship,” explains Coinsbank. Furthermore, the conference on the sea included individuals from 19 countries and a vast array of speeches from industry leaders.

Great Presentations from Cryptocurrency and Blockchain Industry Leaders

Second Annual CoinsBank Blockchain Cruise 'Massive Success'
Christopher Burniske (center)

Over the course of three days, attendees of the Blockchain Cruise saw many exclusive presentations covering topics like digital asset investments, security, ICOs, Bitcoin’s growth and global acceptance, and many more fascinating subjects. Speakers presenting these cryptocurrency and blockchain-centric topics included Christopher Burniske (Ark Investments), Jack Tatar (GEM Research), Sathvik Vishwanath (Unocoin), Mate Tokay (Bitcoin.com), and many more industry innovators.

The third day of the Coinsbank Blockchain Cruise was a bonus day that included an exclusive presentation by Eric Larcheveque (Ledger) and intriguing panel discussion moderated by Susan Poole, featured: Marina Guryeva, Anand Rajendran (ThroughBit), Jorg Molt (The Satoshi-School), Chris Burniske and Tron Black (Overstock.com). There was a lot of networking happening throughout the event and attendees also got to visit all the gorgeous regions within the Caribbean such as Bermuda, St. Martin, Puerto Rico, and Haiti.

The Next Coinsbank Blockchain Cruise v.2.0 Announced!

In addition to the great networking experience, beautiful surroundings, and inspiring presentations the organizers of the Coinsbank Blockchain Cruise announced the next upcoming cruise launching from Shanghai, China and sailing to the historic destination of Kumamoto, Japan.

The event will take place on the Royal Second Annual Coinsbank Blockchain Cruise 'Massive Success'Caribbean vessel – Quantum of the Seas, and plans to depart late 2017! The cruise organizers hope everyone who attended the second annual cruise will be able to attend the next Coinsbank Blockchain Cruise v.2.0 alongside those who couldn’t make the Caribbean event.

“The main benefit of having this blockchain event on a cruise ship was the networking,” explains Coinsbank. “Partnerships were made, friendships were formed, and a community was shaped. Attendance at our “Sunset Viewing Parties” has become a tradition that we will carry forward to future events.”