At the eleventh hour, a big, ugly black swan crash-lands in Lake-of-the-Crypt.
It lays a bunch of eggs and then takes off. We're left with 16.5 MILLION illegitimate little chicks.
Luckily those wild bird enthusiasts at Bitshares have stepped up to the plate and offered to take them in... ALL of them, if they so choose.
See, Bitcoin is going to split now, or rather, a copy will be made, and a significant part of the Bitcoin hashpower will be moving to the copy. The miners and developers supporting the copy want to improve Bitcoin further, so that it can be the digital currency that it always wanted to be. Anyone who currently owns Bitcoin can claim one of the new tokens, "Bitcoin Cash", and then they can try to use them in whatever way might be possible August 2nd.
Here's where it gets messy.
A whole lot of people use centralized exchanges, where they might not have immediate access to their Bitcoin key. A big, giant headache has just been dropped in the laps of these already saturated exchanges. Some of the exchanges can barely manage the customer service workload they have as it is, but now they will have to figure out how they can unravel all the claims to the Bitcoins that they control. For exchanges that don't re-hypothecate their bitcoins as derivatives, that might be pretty easy, but for all the others, it might prove to be very hard. They might have to take extreme measures, such as saying, "Sorry, we're not going to give you the Bitcoin-Cash for your Bitcoins." And we know that this will mean trouble for those exchanges. There might be massive withdrawals from them the minute this starts to look possible.
In any case, it will prove to people that centralized exchanges are antiquated, and there needs to be something better. For those successful in getting their new tokens out from the exchanges, they will have a hard time using them. Although there are already predictions on the future price, I don't think there is any way for them to gain traction in the way these Bitcoin-Cash people envision. None of the current infrastructure in place for Bitcoin will accept the new token, and new alliances will have to be forged. For world-wide acceptance, there needs to be a stable marketplace where people don't need to trust anyone, and I doubt people see the chinese miners and exchanges who back this as especially trustworthy. They are forking bitcoin here, with the promise of upgrading the network IN THE FUTURE.
The Future is Now.
The Bitshares Decentralized Exchange will be issuing a smartcoin called Bitcoin-United, and will be offering it in exchange for the the keys to the new Bitcoin-Cash tokens. This will provide an immediate, revolutionary improvement in technology, the same revolutionary improvement that has been occupying everyone's mind for the last few years. It can all be done overnight now, and this new Cash token might grow into something these folks never expected - A serious upgrade in Bitcoin. The world-wide exposure of Bitcoin with the industry-leading power and speed of Bitshares. This will get really interesting.
Resteem this, and find other ways to say the same thing. The Bitshares DEX is here, and it will be ready for August 1.
