This is some thought I had in mind for sometime which I couldn't come up with a proper explanation. Please excuse me if this is a stupid question.
I have read the following on few articles on the internet,
- That Bitcoin Cash (BCH) has the same amount of limit like bitcoin (BTC), which is 21 million
- When the Bitcoin Cash hard fork happened, people who owned Bitcoin by the date of hard fork, continued to own the same amount of Bitcoin Cash
My Questions are?
- Is it correct that Bitcoin Cash has already been mined the same amount that Bitcoin had been mined by 1st of August 2017, so the remaining Bitcoin Cash amount was equal to the remaining amount of Bitcoin at that point?
- Did it create new transaction id s for Bitcoin Cash in the Bitcoin Cash block chain? OR did it duplicate the same transaction ids on the bitcoin cash block chain?
- Can the people owned bitcoin at the point of hard fork exchange their bitcoin cash to bitcoin and vise versa? which I doubt has a clash with the bitcoin limit and mining
OR is my understanding wrong? Please clarify?