Hi everyone.
As I have mentioned on my previous post about the coming Bitcoin possible crisis. And I quote ---> "But we know that MONEY can make some people act divergent and there are many complex economics involved as to why some people would still want to stay on the LEGACY branch. OR actually force the network to have a split!" <-----End quote.
It seems that as of today, there is a clear indication that a Bitcoin faction do intend to do a split. In fact they are already trading Bitcoin Cash (BCC) on some willing crypto exchanges. (They are using a representative token that will be exchanged for the real BCC after August 01, 2017 Bitcoin Chain Split). Some people are already making tons of money out of this. This means that whatever happens, this Bitcoin Cash will stay, we just don't know how much they will be worth compared to the current market price of around 60$-400$.
What should you do?
If you want to get Bitcoin Cash equal to the amount of Bitcoin that you own today, you must keep your Bitcoin in a wallet which you control the private key( meaning...Bitcoin wallets which you have the private key accessible by you) which you can use to get the equal amount of Bitcoin Cash (BCC) once the split happens on August 01, 2017. It also means, there is no guarantee that the exchange you use will credit your account with BCC so you better take those off as early as possible before August 01, 2017 to avoid transacting on the wrong chain and losing your coins in the process.
On the other hand, if you don't care about BCC (read FREE MONEY), you don't have to do anything but watch the show unfold until the dust settles. I mean DON'T DO ANYTHING. If you do anything while the chain situation is uncertain, your coins will also be uncertain!
There are many Bitcoin wallets(choose the trustworthy ones) which you can install and have the back-up, seed, and private key accessible by you out there, one of them is the Counterparty wallet. You can save the password and the addresses' private key, too without having to download all the Bitcoin blockchain data. You can also choose your wallet here.
I hope this post is simple enough.
TLDR; Want free money? Keep your Bitcoin on a wallet which you got the PRIVATE KEY! Countdown to hardfork
Be safe everyone!