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sethnintendo on 23 August 2017
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Pyro as Bill said:
sethnintendo said:

Tis a shame you invested about 3 days too late to take advantage of the Bitcoin Cash split.

"If I own Bitcoin, do I automatically own Bitcoin Cash too?
Anyone who held Bitcoin at the time Bitcoin Cash was created became owners of Bitcoin Cash. This means that Bitcoin holders as of block 478558 (August 1st, 2017 about 13:16 UTC) have the same amount of Bitcoin Cash as they had Bitcoin at that time. If your Bitcoins are stored by a third party such as an exchange, then you must inquire with them about your Bitcoin Cash.

Any transactions after the August 1st ledger split are completely separate between Bitcoin and Bitcoin Cash. This means any Bitcoin acquired after the split does not include any Bitcoin Cash, and any Bitcoin Cash does not include any Bitcoin."

https://www.bitcoincash.org/

Bitcoin cash is at around 640 dollars per coin right now. 

So anyone who had Bitcoin now has Bitcoin cash instead? Or do they own both?

So according to Bitcoin Cash website and the bolded part I took from their website:

 

If you had Bitcoin before August 1st, 2017 then you were given equal amount of coins in the new currency that came from the split which is Bitcoin Cash.

 

Lets say you had 20 Bitcoins that you purchased on July 31.  So after the split happened on August 1st you now have 20 Bitcoins but you also have 20 Bitcoin Cash.

 

The currencies have now split though so people that buy or mine Bitcoin only have Bitcoin and people that buy or mine Bitcoin Cash only have Bitcoin Cash.  They split because some people were worried about the time it took to transfer Bitcoins.  Bitcoin Cash is quicker in confirming transactions (people sending and recieving coins) because they increased it from 1 MB of data per block (about 3 transactions per second) to 8 MB of data per block (about 24 transactions per second).