Bitcoin Forum

Hi everyone.

So with the date getting closer, everyone is talking about BIP148, Segwit, Fard Hork and what not... I here some say to 'not trade few days before and few days after to let things settle down'.

Some say they'll sell their BTC before that date.

I was thinking to exchange my BTC with some other Altcoin, but I'm not sure which. Speculating only, if you were to exchange your BTC to some other coin because of that BTC split, what would you exchange for and why?

I'm thinking of exchanging to Ripple, but also I have my eye on IOTA, since I believe it will be the next big thing after Bitcoin.

Aside form BTC, I'm invested in other 9 coins. Small time investments.

if your fear is about bitcoin price and possibility of it going down then your only choice is to go back to fiat because history has proven that if bitcoin price goes down, altcoins will get dumped much harder.

however whether or not bitcoin price is going to fall remains to be seen.

That means that people have no faith in the companies behind those altcoins. Or, am I looking it the wrong way?

Do read this post on the Important Ann section:

https://bitcointalk.org/index.php?topic=1836611.new#new (https://bitcointalk.org/index.php?topic=1836611.new#new)

The gist of it: nothing to worry about as long as you're in complete control of your Bitcoins. Not sure what that means? The post will tell you what to do.

thanks, I'll read. I think it means to have your BTC on a wallet that provides you with your private keys, as oppose to exchanges.

I think we're going to be fine. It may need a couple of days to stabilize, but after that everything is back to normal.

that is the general idea, yes.

Dont ever fear that day of bitcoin hard fork event,i have read some thoughts about it that it may help bitcoin community to get better and just a small percent on causing negative effects on bitcoins,but still different things may happen so we better get prepared

Yes of course but for that want to profit during the chaos what is the best course of action? Should we sell before Aug and buy back later or not? Please provide guidance

I think for me I will sell and buy back. Sell a portion not all. At least 1 quarter

the problem is nobody knows!
a lot of different things can happen so bitcoin price can go in a lot of different directions.

if you have invested more than you can afford to lose, or if the amount is making you uneasy then sell some of it to reduce the pressure on your mind.

if not then don't worry too much and wait for things to become a little clearer and then make a decision.

I am holding alts like ETH, LTC and XMR  along with bitcoin right now and will continue to buy more crypto. Its always better to diversify your investment portfolio and I am trying to diversify my investment/holding. If you can have some fiat in hand before hard fork than you might get some cheap bitcoin/crypto during august.

The only thing that I did was moved all my coins to a desktop wallet. I don't have the private keys of the online wallet that I'm using. And they can use these upgrade on bitcoin's technology as a way to run their user's funds. It can also cause problems and your coins might get stuck. With private keys, you can just import your bitcoins.

In terms of the price and the potential of price going down, I don't really care about that. I do know that bitcoin is eventually going to pick up in case the price actually went down. If people ditched bitcoins and moved to something like ETH, then we just have to move there too. As simple as that. You don't have to stress things out. The developers are doing this for the betterment of the coin and not to destroy the coin.

I am not doing anything special. I'm going to continue my activity as in the past. What will happen in August 1 does not matter to me. The only think I always do is collect bitcoins as much as I can and what is important for me is bitcoin value. After August 1 Newbie investors will get into a panic, Sell their bitcoins and will cause the prices to decrease a little. After that everything will go back to the normal and prices will start to rise gradually.  

You do everything right, but I do not think it's worth worrying about Bitcoin. Perhaps this is all specifically for people to sell their savings.

Stay in control of your BTCs and hodl, no reason to worry

in my opinion anything that is said at this point is going to be pure guess because we don't know how things will be like by then. but i will probably transfer all my bitcoins from exchanges to my cold storage and keep them there during that period of time to decide what to do afterwards.

i am trading altcoins which i will pause but i will probably continue holding LTC because it has SegWit and it is growing fast.

other altcoins like ether that i had are already dumped. i don't want to risk getting caught under another ether blockchain fail with my transactions stuck!

I wouldnt exchange my BTC to ALT. However I would move my coins from exchanges to a hard wallet or desktop wallet. Then just sit and wait. I am not planning any purchases 2days before and 2days after. My plan is just to sit tight, watch the markets and news.

I could suggest the quote 'not trade few days before and few days after to let things settle down' then you can take decision . alt only speculation . If your holding bitcoin some convert to alt some keep it as a original form

If you have all your bitcoin in your personal wallet,there is nothing to worry about,keep hodl and wait
But if it's in the wallet exchange,go convert to some alt or straight to fiat

I think the best approach to Auguest 1st is to hedge your coins and be prepared for everything. First, if you are really afraid of losing money, because it's some very important savings, you should sell some portion of your cryptocurrencies and only leave what you can afford to lose. If you are ready to take risks in order to take bigger profits, you should send all your Bitcoins to a wallet that allows you to control your private keys. Alternatively you can try to keep your coins on exchange and try to get some bring profits during giant volatility during the fork. You may also want to prepare yourself for situation when Bitcoin crashes but alts surge, so invest 5-10% (or more) in top altcoins like Ethereum, Ripple, Litecoin.

This. I am just trying to build up the amount of Bitcoins that I have, it doesn't matter if the price of Bitcoin loses it's value at least I would have more Bitcoin when that happens. The price is very likely to pump during that time since there's a bunch of people interested in it.

The price of bitcoin will really take a hard hit if others will follow op's move to dump bitcoin for alt-coin. But if we do not dump, just move our coins into a secure wallet where we control the private key, it will be fine. We do not have to panic because hard fork may not even happen.

I will do nothing. I will just continue what I'm currently doing. Join signature campaigns, earn bitcoin, then buy some altcoins for long term profit. those are the things that I usually do. If ever bitcoin price will go down, there's still some time till it goes up again.

I will do nothing. I will just continue what I'm currently doing. Join signature campaigns, earn bitcoin, then buy some altcoins for long term profit. those are the things that I usually do. If ever bitcoin price will go down, there's still some time till it goes up again.

Just wait it out and see what will become the dominant coin. { If it splits } You will have the same amount of coins on both chains, depending on how the

coin split will happen. I will sit back and see how it plays out.... my coins are safe in cold storage and I have full control over what will happen once the

coin splits. Moving everything to Alt coins will be stupid... Alt coins will come down hard, if Bitcoin fails.  ???

I actually am not preparing anything for August 1, if the price drops then I'm sure it'll increase its value back again and stabilize. So whatever happens this first of August, I'm still holding on to my bitcoins.

Check the news: August 1st is no longer relevant, it will be another regular day in the land of bitcoin, it is a non event because segwit is going in before august 1st since miners agreed on the segwit2x thing. It's not ideal, but we get segwit anyway, and there will be no hardfork later on most likely, because no one will run non-Core approved software, and those that do will meet bankruptcy, so stay calm, but it's always good practice to store your coins in your local wallet, never on the exchanges, remember that.

that's the right move that we should take, as long as we do still have the numbers dropping the value won't be that easy don't let the whales to grab the opportunity of buying your dumped coins, whatever happens just keep holding and for sure it will recover and bounce back much stronger.

95% of my bitcoin hodlings are off exchanges. No matter what happens, I plan on staying calm and not panicking or doing anything rash with my bitcoins.

Well for me, i'm keeping my bitcoin. Have no intention to sell or change them to any altcoin though.
But if i need to do that, i'll prefer change my btc to usd. But i think that won't happen. Because i believe in bitcoin, and don't want to regret about it later if i act recklessly by selling them.

If before August 1 will actually start a panic and people will sell their bitcoins, I will try to buy as many coins as possible at the lowest price. I believe in bitcoin and I am sure that he'll regain its value and price will even grow. Just whales buying coins alarmists.

I don't see why the 1st of August will require special preparation... Maybe accumulate a bit of fiat in order to buy more coins in a speculative possible dip after we scale? Other than that I see no reason to do specific preparation for anything...

As far as I am concerned, the most important thing which I have done so far is to move my coins to a desktop wallet, precisely Exodus which gave me access to my private key. I don't care if bitcoin's price comes down as a result of any fork, but I ain't moving to any altcoin cause that would be the biggest mistake of a lifetime. But whatever will happen, we all don't know anyway and I hope things get better cause I am sure that is what most of us wants. Once we remove the fear, Bitcoin will always be at the top of its game, fork or not!

Not really, but since many few days, I started reading various articles and also got some suggestions. I was suggested to have my Private keys to myself.
Till now I haven't took any further action, but I am thinking to secure my bitcoins. Though I won't stop to acquire and still continue to hold.