Welcome, welcome to One Minute Crypto! I'm your host, Chronos, and today we're going to talk about Bitcoin Cash This is an unprecedented event in the history of the Bitcoin network: It is a Bitcoin fork
Bitcoin blocks come out like this: *popping noises* But on August 1st, 2017, less than a week away, there is a new technology coming out called Segwit, or Segregated Witness Some people want it, but some people would rather just have an increase to the maximum block size They're calling that Bitcoin Cash So if you own Bitcoin prior to this fork now you own both kinds of Bitcoin, but the key is, you need to own that Bitcoin yourself If your Bitcoin is with a company, or at an exchange, be sure to withdraw that to your own wallet prior to the fork so that you end up with both kinds, and double your money! if you don't know how to do this, I've got a video for how to set up Electrum on your computer, so you can transfer the bitcoins to your computer and get that money yourself
In the words of the great Andreas Antonopoulos, "If you control the Bitcoin keys, it's your Bitcoin If you don't control the Bitcoin keys, it's not your Bitcoin"