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.”