Bitcoin to split again – what to expect

Bitcoin is likely to split again in November 2017, thereby creating a third version of the cryptocurrency.

How does it impact us?

• The last split, which created the currency Bitcoin Cash, saw a large group of miners splitting off from mining Bitcoin to mining Bitcoin Cash as it seemed more remunerativeand easier to mine
• Bitcoin witnesses congestion in trade as high popularity leads to too many trades. The disadvantages being higher transaction times and processing fees
• The third split might see another group of miners leaving Bitcoin for a new currency. If the new currency benefits from higher speed and less fees, it is sure to do big and make better returns for miners and traders alike

UPDATE: Traders will be able to receive chain split tokens – BT1 for the original chain and BT2 for the SegWit2x chain — by depositing BTC into the token manager.

“Upon creation, the BTC will be debited from your account and an equivalent amount of BT1 and BT2 will be credited. Users will also be able to reverse this process at any time, trading in equal numbers of BT1 and BT2 to extract BTC,” according to the announcement

Let’s look forward to November for another round of Bitcoin news!