A member of Ukrain national legislature has recently revealed the wealth of three lawmakers in Bitcoin is more than $45million collectively.
As per the report from RIA Novosti (International news service of Russia), these lawmakers ( Dmity Golubov, Alexander Urbansky, Dmitry Belotserkovets) are the members of “Petro Poroshenko Block” which combines prime grouping of legislators within the parliament.
Namely, Dmitry owns most Bitcoin: 8752 BTC, Alexander holds 2494 BTC while Belotserkovets has 398 BTC. According to today’s price, this may worth approximately $36 million, $10 million and $1.6 million)
However, the discussion comes with the edges to regulating cryptocurrency.
Considering the previous report of last week, the National Bank of Ukraine which is the central Bank of country revealed discussion regarding cryptocurrencies will come into the picture at the next meeting of the Financial Stability Board of Ukraine. This will get nation’s financial authorities together at the end of August.
Though this is not yet exposed what steps Government may take but last week report stated that a large mining machine cache was detained next to authorities encountering at a state-owned facility.
By disregarding a split in the cryptocurrency further, Bitcoin extended gains to record high. Even though the division of Bitcoin’s last week, there is a forward leap in the rate of digital exchange from 16 percent to $3292.41. The debate was about how to upgrade its underlying technology. A backing solution called SegWit2x against miners along with a group of developers. As they had created a derivative called Bitcoin Cash, who wants to increase the size of black blocks more radically. A cryptocurrency exchange in Hong Kong, the chief executive officer of Gatecoin Ltd., Aurelie Menant says, “The miner-orchestrated hard fork has had limited traction and will not impact the price or future development of Bitcoin”.
BTC and BCH are still two different coins.
You normally can not send BTC to a BCH wallet but there might be Dodgy ones that steal your coins!
I am waiting until a legit BCH wallet is available.
If I understand correctly, in my words BCH basically took a snapshot BTC's blockchain and made it much bigger but BTC still stays on it's own chain.
Because BCH has BTC's history before 1. August you can claim BCH from the BTC you held before that date.
You do NOT SEND ANY BTC to that BCH wallet, you only use the private keys of your OLD BTC wallet that you must completely empty first.
You can if you wish (and trust) send all your BTC to Cryptopia to empty out your local BTC wallet.
AFTER you have sent your BTC, install the BCH wallet on a DIFFERENT computer, as said wait until an official tried and tested wallet becomes available. There is no time limit set for when you can claim your coins.
Then copy your private keys and use them in a BCH wallet to generate the BCH with their tool. You can NOT do that on Cryptopia because you can't access their private keys or any other features other than depositing and withdrawing coins.
After you have received your BCH you must never use that old BTC wallet again because it's private keys are now NOT private any more.
Generate a new BTC wallet with new keys and keep the BTC and BCH wallets on different computers for now.
Hope that is clear as mud
Thanks to the folks that weighed in on this. I have yet to get clear instructions on how to do this. I'm a little annoyed because the only reason I moved my BCC off Cryptopia is that the News item before the split sounded like they were going to just ignore BCH.
Excuse my blockchain blockhead question but since the two coins are a fork of the same blockchain, wouldn't just making a deposit to a Cryptopia B-CASH wallet from an external B-COIN wallet work? Or would it only credit one or the other?
Go easy, I'm just a puppy in this space even though I've been using computers since a modem was something you stuck the telephone handset into after you dialed-up (with a dial) the mainframe and it screamed in your ear...
It would be fantastic if a moderator would respond to this
.... and please correct me if I am wrong, but from my understanding only coins you had deposited on the exchange BEFORE the 1.August will get their BCH conterparts here.
If you had the coins on a wallet you will have to do the 'split' (I prefer to call that a clone) yourself manually.
There are instructions on the net and it may bare risks. I would wait a bit until things stabilize.
It basically involves sending your coins to a new created BITCOIN wallet and then using the private keys from the OLD EMPTY wallet on a BCASH wallet to claim the coins. There are claims that some BCASH wallets may be dodgy and it is important not to use the BCASH wallet on the same computer where your BITCOIN wallet(s) resides. Best on a VM
From reading Cryptopia News before 1/8, it seemed like BCH was not going to be supported so I pulled my BTC to an off-exchange wallet. Now that Cryptopia is supporting BCH, how do I deposit the BTC amount back to Cryptopia and get the appropriate share of BCH?
Hi Cooper, Dpw did this pan out in the end? I am having the same issue although I'm more impatient. So I was expecting it to initiate almost immediately but first one, I cancelled after 20 mins, the second one, I will leave there and see how it gets on in a couple of hours.
EDIT: User Error for me,..I had to confirm the withdrawl in my mail. Sorry. All worked after that.
I think Pandora's box has been opened! With or without bitcoin I think cryptocurrency is here to stay. Most new tech always gets replaced by something better eventually anyways. Not saying that's what's happening here, but Bitcoin really was the first to the party and may not be the last to leave. As long as altcoins are paired to BTC, I think BTC will continue to have a strong future or maybe BCC. This whole thing is getting crazy. Regardless, some version of bitcoin will live on. Not to mention it will remain viable as long as people continue to use it. The bitcoin commuunity is resilient and not going anywhere!
Have tried to send BTC from this wallet to a few other places and have had no progress made at all over the past 12 hours. Started 2 different withdrawls including a 3rd one that was started last night at 220 AM after the other attempts were cancelled. Still no update and everything is still "Unconfirmed". Any idea what's up with the delay? 2FA is enabled and I got emails saying the withdrawl has been initiated. Just not used to transfers taking this long as my Bittrex transfers take no more than 30 minutes at most.
Any help is greatly appreciated.
For the sake of discussion, let's hypothetically presume that Bitcoin is doomed and we've already witnessed it's end as a supercoin. From that presumtion, what follows?
How would the world of cryptocoins change afer the demise of it's most well-known flagship?