Bitcoin has split in two, so you can have double the cryptocurrency
A little after 8AM ET today, Bitcoin was split into Bitcoin Cash, an alternative cryptocurrency, in a chain split that had been anticipated for months. The split, called a “hard fork,” comes out of a bitcoin group’s desire to combat high transaction fees and a bitcoin size limit that made mining larger blocks invalid.
This has a nuanced implication for Bitcoin owners. If you own Bitcoin and control your private keys, the same private keys can be used to spend your newly minted Bitcoin Cash.
If you own Bitcoin but don’t control the keys, then it depends on whether you’ve chosen to keep your bitcoins on a Bitcoin Cash-friendly platform or digital wallet. Each platform is treating the new Bitcoin Cash differently. To enjoy this extra…
