A Brief Guide to Bitcoin Cash
On Tuesday, August 1st at 4 AM (UTC), what many are describing as an altcoin will fork off from the main Bitcoin network. August 1st is also the scheduled activation of BIP 148, also known as the User Activated Soft Fork (UASF).
The new, forking coin, Bitcoin Cash, will launch as a so-called User Activated Hard Fork (UAHF) – in reality; a Miner Activated Hard Fork. All Bitcoin (BTC) holders will receive an amount in Bitcoin cash equivalent their Bitcoin holdings.