Bitcoin Hard Fork Explained | What is a Fork? What Happens to My Coins?
Hey guys, so it's been a wild ride for Bitcoin this past week. We saw Bitcoin tank over the weekend to a low of $938 and then recover to back around $1100.
Apparently this is being caused by talk of a potential Bitcoin fork. While I've read a lot of articles on this matter, I found myself even more confused about the whole fork issue, and most of the articles left some important questions unanswered such as...
1. What is a fork and what causes it?
2. Are Bitcoin Miners actually supposed to be able to make changes like this?
3. What is Bitcoin Core Vs Bitcoin Unlimited?
4. What does it mean when people say 75% of miners have to agree? Is there a vote or something?
5. What happens to those of us who have Bitcoins? Do we choose which coin we want or do our coins double?
6. Anything we should do to prepare?
I didn't see these questions answered so I reached out to Reddit and the interwebs to try to get these questions answered.
I apologize if my explaination isn't as clear as you may like, this stuff is still flying a bit over my head but in this video we attempt to answer these questions