Bitcoin Forum

Is anyone using their btc to buy cars or houses in case the BU fork hits bitcoin hard?

Maybe converting btc to fiat or another crypto?

If you held bitcoin, how would you diversify your holdings to keep them safe in the event the hard fork forks things up?

 :-\

I have no diversified investment since my bitcoins were only in a handful amount. What I did was to convert it to our local cash and if another price drop occurs I will convert it back to bitcoins. But sad to say instead of bitcoin going down it spiked up a bit. I was sad but I was also happy since bitcoin has recovered its value slowly. But just like me other bitcoin investors have shifted into Ethereum and DASH due to fear of bitcoin crash.

I think that is really the main problem when a fork happens with a two strains outcome.
People will leave and never come back.
Because they do not know what to think of such an event, most will lable the situation as 'lesson learned' and switch back to good old fiat.
And when bitcoin goes, the alts will follow. I would not want to be a miner in such a scenario.

No

I diversify anyway. 5% Monero.

It's probably to switch to fiat as altcoins are very unpredictible unless you want to continue investing of course, If you have large amounts then using USDT (Tether.io) could be a great way to make quick transfers on exchange without the need of doing any kind of KYC verification.

Your question is a genuine one. So far I have decided not to touch my btc, irrespective of what the future may hold. Coming to your question, people are already cashing out of Bitcoins. They are moving into alt coins, monore is the most sought after coin now. Then even ether is gaining momentum. However monore is topping the list so far. So if you are worried maybe buying monore makes sense, or eheterm. Though I will clarify I neither have brought both, I am taking a risk with my btc.

I must be mad, but I'm about to list a bunch of domain names for sale, and I will stipulate that payment is to be by Bitcoin with no alternative.

I am very confused and haven't made up my mind yet.
I think if I have to get rid of btc,I would go for ETH but as I said I am undecided when to do this.
Anyone got any suggestions what is the right time to switch?

I have deiversified since the beginning.

It is never smart to hold all your eggs in one basket. Regarding crypto this means it is spread across several altcoins I think are promising. In general, this means I also hold a normal savings account and an investment account for stocks and investment funds.

NO.
i have invested my money and i have diversified my money, and i am not willing to change the percentage of that diversification that much. it may chance up to 5% at times but this is not the time.

i have invested in bitcoin, gold, real estate (house), and some in altcoins and i have always been this way. and at times like this when bitcoin price drops i up the percentage of my bitcoin investment to buy more cheap coins. and when things are normal again and stable i bring it back to normal comfortable percentages.

No. If hard fork continues, we will have coins on both of them, so I will just wait in which of them will come on top. Or if it follows ETH path with ETC still alive, I will have both coins and hold on them both. It is just like double your money in an instant. Though I do not think it will have the same high price if it did  not fork and just resolve their problems.

Best would be diversify your holding into multiple crypto like ETH, DASH and ZEC etc when there will be hard fork or you can simply convert your bitcoin into fiat and wait till dump get over to buy back cheap bitcoins.

However i don't think there will be hard fork in near future, even if it happen we will get free BTU (another altcoin  ;D) to trade.

Bitcoin branching is a problem that is very annoying in the present moment, which greatly affects the value of bitcoin. I never expected such a thing to happen. Clearly, proponents of bitcoin unlimit want to find a profit for them, which is a personal thing, which is not good for the community using bitcoin. Without a resolution, I'm afraid there will be a lot of people leaving bitcoin, and they will never come back, now there are alot of growing and being loved by so many people, bitcoin are Lost in the competition with the alt coin it. The worst is what I can see at the present time.

yeah right. me either.. but lucky are you for you have converted it maybe in time just before the price of bitcoin dropped so hard. i had mine when its too late. but instead of panic selling, i just hold my bitcoin and i know it will surely recover in no time despite of all the issues nowadays. moreover, since the price is not yet as i was before these BU news arrived, i just enjoyed trading ETH, DASH and other cryptocurrencies so that i will have more profit and more bitcoins while waiting for the next price increase. j

i have said it probably a couple of times in other topics which were asking what will you do in case bitcoin dies and it was even before all this drama and i say the same thing here.
in case bitcoin fails some day i am not foolish enough to switch to an altcoin that is crappy, centralized and full of bugs and even 80% of them are copying bitcoin code!

A lot of people are running towards Dash & Ethereum, but I will not abandon this project based on rumours. I already own a little bit of other

coins, but I will never go all in on Alt coins. { Most of them are pump n dumps and scam coins. } I think most of these runners will soon learn

that they acted prematurely. A hard fork is in any way, not the end of the road... but just the beginning of a much stronger coin, with better

features... depending on the route you chose..  ;)

I'm diversifying less and less... In my opinion it's starting to get more risky to diversify. The risk of a fork raising issues isn't as much as having the eggs on other bags...

i prefer staying away in case of a fork. so i will keep all the coins that i have in cold storage and stop thinking about it. probably i am going to come back after things settle down.

although i serious doubt we are going to even see that day.

Diversifying right now can turned out to be quite risky because there is FUD and HYPE everywhere and it is quite hard to predict in which way market will move. Dash, ETH and ZEC had pumped really hard lately so we may see another big dump within few days if bitcoin price bounce back to 1100$+ price.

I will not spend my Bitcoin when there is an incoming fork.  One reason is that if fork happen and two chain became alive, I might have double my Bitcoin.  I guess diversifying this early because of the rumored fork is nonsense.  People who wants to get cheap bitcoin will use all their tactics to put the price of BTC down and enjoy buying it at the lowest.

No. In case you haven't noticed, Bitcoin has been facing "imminent catastrophe" on a regular basis for years now, and it has actually "died" many times!

It will continue to face "imminent catastrophe" for decades to come, until it's no longer a disruptive technology.

What we are often seeing are games designed to separate users from their Bitcoins.

No i'm not diversifying, even if the fork happens i'll still have my coins exchanged/will be converted 1:1 right? the price recovery might take some time though, i'm a holder will not sell cheap lol.

no bitcoin is the king for me man, all other alt are increasing my bitcoin wallet, that why they are used for, but i like to hold some other good coin like ethereum and zcash, just in case, still the standard the fact remain bitcoin

I still haven't touched my rather paltry stash of bitcoin. I'm in a rush to learn more about the tech though because of the threat of my heap becoming useless. For example I'm trying to wrap my head around that detail that they say that we'd end up with coins on 2 different chains. Never been a tech-savvy person and just entered into this because I've heard that there's profit to be made by holding the coins. Well, look like my bubble bursted. :D

Since March 10, I've gone from 25% altcoins and 75% Bitcoin, to 78% altcoins and 22% Bitcoin. As a result I've gained 13% while Bitcoin has dropped a good bit more than that. I've split my Bitcoin funds between Ethereum, Dash, Monero and Zcash.

I don't see any near-term hope for Bitcoin. ETF's are out of the question. Merchants are dropping out or cutting back because of the fee situation. Any news of merchant or other user adoption would just mean even worse TX fees anyway! Segwit adoption of 95% is completely unfathomable. The only real question for now is whether the Core/BU impasse will continue, or whether BU will fork and initiate an ugly conflict. Meanwhile there will continue to be positive news of increased adoption and merchant services and so forth among the major alts.

So I feel much safer HODLing with my new portfolio than risking going back into Bitcoin in a big way. What scenario can anyone offer that leads to gains in the near term? A massive spike in clueless investors who don't know what's going on and are happy the ETF was rejected? I mean, come on...

I hold gold as my "alt-investment".  Hear you re diversification.

So far I have not decided to hold any Altcoins because I have not had the inclination to go look at any.  My feelings may change if the BTC Civil War keeps going on.

Ditto.  I think I own less than 0.01BTC at the moment, and I'm comfortable with that.  I don't know anything about this forking, and most of the technical stuff with bitcoin is far above my head.  As for the diversification, most of my dough is in the stock market at the moment and I only own a handful of stocks.  It's a great concept, but when you only have a little money to play around with, it's pretty meaningless.

I myself decided to diversify with other(s) altcoins despite the fact i have always say bitcoin and nothing else. For this i have make the choice to go with monero. Even if people may think there are some others altcoins with a potential to be better than monero, i am looking for a medium term plan and from now monero is the only one that attracted me, but as i have a limited interest with altcoins so i don't know a lot about them

Recently, ETH and Monero "offered" as a good alt-coin to bitcoin. But I don't think it would not a good idea for me to diversified my bitcoin because I still believe that the effect of Civil War between BU and Core will not affect the bitcoin ecosystem. Then can have they own coin and call it whatever they want, and for those who wish to stay with bitcoin, will stay, otherwise go to that alt-coin and hope for the best and see what the future holds for you there.

I guess you are correct that this is the cause of the increase in value of Etherium and Dash. But Bitcoin has surged back up in price lately. I sold much of my Bitcoin when it went past $1200. Maybe that was a good idea.

Catastrophic for which side :P to a trader's eye it's all good. Higher risk = higher reward. No need to diversify, fiat is a good way to hold out. Grab a cold pint and wait for this to blow over.

I'm actually doing the opposite because if a fork occurs I will have coin on both chains.  I see this as more of an opportunity to double my investment then anything....I've been moving out of the altcoins and slowly getting my coin off of the exchanges and into bitcoin addresses that I control.  I'm getting ready for it!

I don't think that diversification is necessary as long as you don't have absolutely all of your funds in Bitcoin.

Bitcoin's value will be safe enough that it won't completely collapse to 0.  I think that the more the value falls from the fork, the more that I'll buy because I know that Bitcoin is still great and will always be appreciated for what it is.

To be honest I don't think that any specific alts are reliable enough to warrant a serious investment.  There's Ethereum but that's pretty centralised and I'm not sure I would trust that people would use it who are techy or clever Bitcoin users.

On another topic, someone said that with the Etherium fork, Coinbase didn't let customers keep coins on both chains. Do you know if that was true, and could other exchanges do the same thing for Bitcoin. I have to admit, I'm not sure I fully understand how that works. Can someone elaborate?

Watching bitcoin hardfork is a nightmare, if bitcoin fork really happened, it will lose a lot of supporters and it will cause a big impact on the price and trust issue, if hard fork is happen then it will be either people wait for a long recover or people will leave bitcoin forever and it is a risky choice

Anyone who thinks buying an alt qualifies as diversifying is batty. It's an even more insane gamble on a gamble that was insane already. And if you hang on to your BTC you get just as much of a free alt too which'll have a ready made gargantuan and ravenously hungry market.

Well isnt a easy step to take, but some of the traders are with their bitcoins over altcoins, just looks dash and some others altcoins market, its a sensible moment to bitcoin, because spliting bitcoin should damage the real concetp ot it, anyway pretty sure some investors arent waiting to what will happen over bitcoin.

I personally have not seen any data that suggests that any of the alt coins are going to be doing any heavy trending upwards, hence, I am staying with btc, but I will invest in a few of the alts, maybe lite coin, etherum, dash, zek, and monero, I'll just keep watching them daily to see what happens with them.

For me I am definitely going to diversify. I am really not sure what is going to happen and i highly doubt anyone knows what is going to happen in the future.

The best thing to do is to spread out your wealth in several different assets, especially if you have high stakes in bitcoin currently.

I would hedge against the hard fork by buying into gold and silver, keeping a small portion of bitcoin in cold storage, buy into some alt coins as when the fork happens alt coins are probably going to rise in price. Converting some bitcoins into fiat could also work, it all depends on you though.

Diversification is the best way to preserve your wealth over time in my opinion. Whenever there is something major going on I am never sided with either side but rather just try to hedge against either side and keep the value of my balance the same.

I would keep 50% BTC, cash out 50% fiat.

That way if bitcoin rises you’ll still make half the profit that you may have gotten if you haven’t sold your bitcoin for fiat at all, but if bitcoin falls you only need to cop half the losses.

Never keep all eggs in just one basket, that is the golden rule. So diversifying is the good choice with or without fork. I don't know what is actualy going to happen, I don't think anyone does but I hope for the best. Still, it's good to decide before what and how are you going to do with your coins.

Personally, I’m not going to sell any coin right now.

We have seen bitcoin rise over $1250 and stay there for a long time, I don’t think anyone should doubt bitcoin’s ability to perform as an investment.

The hard fork is going to make both the value of BTC and BTU drop, sure, but the value of these two forked coins added up should be around the same price that bitcoin was at before the hard fork happened.

I wouldn’t worry about it right now to be honest, especially if you have less than 10 BTC.

And no, i've got no money to buy cars and houses unfortunately :(

you have some money, you think about the risks then if you accept them you invest. meanwhile you look at multiple things to invest in to diversify and maximize the profit while keeping the risks spread and manageable.

if you are going to constantly fret about smallest of things about each of your investments and think about kill switch on each of them then it is best if you don't invest at all.