Bitcoin Forum

Hello guys i have some strategies and assumptions for August 1. Can i get your opionions on them :

Strategy 1:
Buy bitcions now and get free BCC. Imdeiatly after the hardfork sell your bitcoins because the price of btc will drop for a short time. Then buy bitcoins again the next day or 2 a lot cheaper. I do belvie the price of btc will drop around 10% -20% for a short time after the bcc release, because a lot of guys are now piling bitcoins jsut go the the free bcc, thats why we see the current spike of 10% to the USD despite the hardfork FUD.  Also if you look at the history same thing happened with NXT and Ardor. People were piling nxt to get free ardor and after they were credited NXT crashed. Also after the hard fork of ethereum, price of ethereum classic crashed around 30%. So it's normal to except devaluation in the short term after the bcc split.

However a big side effect of the strategy will be that ,it will create a big hype around the BCC( good or bad its still a hype), you know a lot of people will try to dump their "free" bcc and earn as much as they can, so bcc will be the center of attention in the crypto market for a day or two. And who really knows what may happen because of that, a lot of traders may find it as a nice opportunity to make money out of the fast market and so a big interest around BCC may appear.
 
Strategy 2:
Put everything in USD. Wait for August 1st. Assuming the price will drop. Buy bitcions then.

Strategy 3:
Buy altcoins now cheap, because btc is main interest and altcoins are cheap.

Main Assumption:
People are piling BTC now so they can get free BCC.

Opposite Assumption:
After the split. People will see big decrease in BCC price, because a lot of people will want to jsut dump. Which will be a signal for succsess for the BTC, in which case BTC price will go up.

Question:
What do you think is gonna happen to BTC price in Poloniex close before and during the August first split?
My assumption is that the price wil either freeze or it will start decreasing in fast pace. Because the people who want free BCC will have their coins in non-exchange wallets already.

I prefer this one

Main Assumptions:
People are piling BTC now so they can get free BCC.

Immediately sell after the price matches, will many people who get BCC immediately free, then sell it, BCC prices will go down.
I am not sure BCC will be able to compete with BTC. BTC remains king.

Being a long term holder I never need to concern these and all. I am cool as ice and just watching what you people are trying to impact. I have already moved out all my bitcoins into my desktop wallet hence I am all set. I guess this is enough strategy I need to do due to this aug 1.

There's only one thing I will do;

Hold Hold Hold (oh that's 3).. just kidding. I have decided already that I will keep my bitcoin and will accept the risk of holding this. If BCC will prevail, then so be it. If bitcoin will continously increase it's value, then much better.

No big risk , no big reward. I will accept whatever will happened.

- Buy bitcoin right now and get free bcc
- sell those BCC to buy cheap altcoins out there like ETH, LTC and many more
- Sell your btc too if price stays up
- Buy back some cheap bitcoin with all the fiat you have when bitcoin price will get some correction
- Exchange all your altcoins when they will be pumped after network split because many will buy alts with all their free money

The big problem with this is that the two coins that you're going to be owning now (BCC and BTC) may not be worth the same as the one coin of BTC that you owned before, so I'd avoid this in general and just sell everything off.

If everyone is going to be piling up the BTC like it's being stated that PROBABLY means that we're going to see huge downturn after this, which means THE BTC price is going to fall somebit.

SELL OFF, sit back, and wait!

This is the best option for me as well. Too much technicalities, just hold and it in your wallet that you have control of the private keys then wait if you gonna a free BCC and immediately dump it. I'm not into altcoins, I just hold a few and easily dump it for profits. I will just let my coins sit in my wallet and see how it goes.

Well, with holder as you not need fearing the happens in current. Although when choose type trading is holder make you miss many opportunity earning good profit, but about keep safe your funds it will better than day trader. Just set your target and doing other job in outside :)

My plan August 1st, i will hold the bitcoins wait until the bitcoin's hard fork and getting two coins ( bitcoins and bitcoins cash) one of both is free coin, there is chance the price will be expensive, then buy the altcoins because in my opinions the altcoins price will be increase after the bitcoin's hard fork, that is my plan couples days later.

This is true and most likely to happen

No one can predict the rise or fall after the fork. So i dont recommend this.
This is very true and this is what i am doing . I have bought altcoins and will sell them later.
According to me the btc price will see a significant drop but then will rise with a faster pace.

Same here, I am not worried what will happen after August 1. After this brouhaha or drama, all will be fine and bitcoin will continue to grow again. Along the way there are many issues that can hamper the bitcoin growth but I am very optimistic about it.

Strategy 1 is probably one of the better thought out strategies in the OP, and personally i'm going with mainly strategy one(holding bitcoin now, getting the free bitcoin cash and dumping it for the actual btc when the hard fork happens) and some strategy 2(selling off like 20% of my bitcoins for USD. After all, price is quite high.

I don't think that buying altcoins are the best way to go right now. Bitcoin dominance is still damn low if you look at the charts. The natural level for bitcoin dominance honestly should be 75% or more, but right now Ethereum is overinflated.

Whatever you do... Please don't get your coins stuck on an exchange on 1st August. Especially coinbase, they aren't going to give you a single cent for your bitcoin cash. I mean it makes sense, it has no real value apart from being supported by BU but you can always enjoy that extra 0.15 BTC or so for each bitcoin cash token you're going to get.

Indeed with you. I have also moved everything into the wallets for which I own the private keys. So basically I'm off the chart and would love stay like that until the split occurs (or not) and then release my funds once again the situation is back to normal. I'm bit worrying about anything, and I don't want to stress myself with idiotic BCC creation. It's just waste of time and has halted good market of bitcoin.

Well, after all we will see new high price of all cryptocurrency on market, not only Bitcoin. 2017 is the years of cryptocurrency and it just beginning, the road map still very long time and not stop at now. So, why not choose buying altcoin in current and go ahead in future?

BEST THING is to buy altcoins right now, siacoin, bitshares, digibyte, and fanctom (the cheap ones) that can easily do x2 in short term after all this mess.
Holding is the best option, and with altcoins is even better, because you have your btc, and if alt goes up, you earn even more.

The road ahead most likely is going to get quite bumpy and not even the altcoins would be spared because anything that affects Botcoin, goes ahead to affect all other coins. I think a conservative approach would be to go with as many feasible options as possible ultimately ending up with Bitcoin at the tail end.

i agree with this, Bitcoin I the King of all coin , no one coin can win race with Bitcoin

But, do not buy bitcoin at the peak, as it seems decreases today, maybe it will continue to decrease tomorrow. So, yes buy bitcoin at $2400-$2500.

Not a good idea as you will miss free cash from bcc on August 1st and it's not safe to buy bitcoin on that day as bitcoin nodes should be clear before everyone could send-receive bitcoin.

It can be a good idea as well, because some altcoins will increase/recover again on August I guess.


Bcc price will dump hard and bitcoin will rise because people may transfer cash from bcc to bitcoin.
I'm not sure about Poloniex, but I've seen any statement they will support bcc, they said maybe.
“We cannot commit to supporting any specific blockchain that may emerge if there is a blockchain split. Even if two viable blockchains emerge, we may or may not support both and will make such a decision only after we are satisfied that we can safely support either blockchain in an enterprise environment,” http://www.trustnodes.com/2017/07/25/bitmex-says-no-bitcoin-cash-poloniex-says-maybe-bitcoin-com-says
So, you may send bitcoin to bitfinex or kraken as they already said will support bcc.

I think most of the BTC piling is taking place in the form of people dumping alt coins and taking their coins off exchanges. I don't think that fresh Fiat is moving in just to get free BCC. Note that people taking their BTC off exchanges leads to a thinner market on the BTC sell side, so fast upward moves on low volume may very well be possible.



Keep in mind that the ETH / ETC hardfork was caused by the DAO hack, so the situation was vastly different.

Strategy 1 is my guess. Makes the most sense. I have a feeling that everyone is going to dump all the BCC as quickly as they can.

I think so, even though many people or exchanges that do not support BCC but if we could get it for free and there are some exchanges support it, don't want to miss this free money as bcc price $331 based on https://coinmarketcap.com/currencies/bitcoin-cash/
I don't want to miss bcc either, but local exchanges in my country seems won't support bcc, which mean I should trade bcc on bitfinex or Kraken maybe. Poloniex may not put bcc on their list as http://www.newsbtc.com/2017/07/25/poloniex-will-not-provide-support-potential-bitcoin-forks/

but don't forget exchangers will be closed 1 day after 1 august.
we won't find those prices after 1 day.

Currently, I got my money invested in altcoin and its gonna stay like that till August 1. Then when the dust is settled, according to price movement of bitcoin and altcoin I'll see what my next step will be. Till then, hold!

I already pulled my btc out of exchanges ... I'm keeping some fiat for speculation opportunities in Altcoins markets  ;D ...



 

Its better to buy bitcoin after august1 because we dont know what will happen in bitcoin if they split to bitcoin into bitcoin classic and bitcoin. If that happen for sure many people invest to that coins because the price for sure become half and for sure after few days it will increase again so you can earn profit. But it depends to you what its best to do in august 1 and after . But its better to make a research first.

If I was given that 3 option I will buy Bitcoin and hold it, I don't really care about BCC because I don't think BCC will work out, most people will dump that coin, and after this incident Bitcoin price will keep on going up as we can see this few days the Bitcoin dominance is increasing

I think people are still stay in bitcoin but if BCC is free well its not  a problem to get some bcc so that we can sell them if it has a value..
Well for me according to other member and other people outside in this forum some opinion there they are still stay in bitcoin that i think bcc will be useless but we don't know what will be happen we will see it after august 1..

If people are going to dump their BCH, I'd expect it to be exchanged for BTC rather than fiat in most cases.  So if this is the case, I'd expect that to provide a boost to the price of BTC, although there are other variables to consider.

The whales will be selling unfortunately.

BTC will definitely drop, the question is how far?

The BTC price @ around 2700 USD includes within it BCC, which is currently around $340 USD.
So the real price for BTC is currently about $2360 USD.

I have sold my BTC because i'm concerned the price will drop a lot on Aug 1st.

Well, you will regret it soon after August 1 because if you know what traders or whales are going to do it is not like you think , They are the ones who will benefit for this big dumps and dumping or selling your BTC is just a lost for you.  Bitcoins will not drop to low it finally recovers after that big dump in the past weeks .So its was expected the price will more rise after these event.

Why would i want to hold a coin that's going to fall?
When it drops to $1400 tomorrow i will buy.
Everyone knows the whales are dumping.

I'm not much expectation about BCC that disrupt cryptocurrency in this time and ETH still on the way to correct its value. My opinion is to hold altcoins such as PPT, IXT or etc... This is might safe and profitable during what happen in August 1 event :)

I'm pretty sure everyone is following the same stuff as are doing. It better to move out everything from the wallets and convert to fiat currencies. This will support us by saving money that we may loose in tomorrow's transition. And can you imagine, tomorrow is the day for which we are creating such big supportive threads! Hope everybody is in peace and has taken all the precautions.

One scenario nobody considered: One or more of the exchanges crashes because of a technical issue (Fork problems, too much traffic, Transactions, etc). Whole market collapses big time. Like Mt Gox. 1000 to 70.

The thing is, transacting with BCC (selling them after the split) still sounds kind of technically complicated and risky. Am I right ?

But selling all BTC in exchange for FIAT would leave the FIAT on the exchange that you sold....isn't that risky too?

RE STRATEGY 1:
I thought it wasn't safe to do any transactions with BTC after the fork? That's what I've read in several sources, that one is supposed to do nothing, nor send nor receive BTC until the situation is safe again, whether it takes days, weeks or months ????

is there any way to get free BCC regardless of using mining costly hardware ? in all cases it easy to get BCC free even for those who are able to mining with their old equipment because of lower hash rate , definitely i don't like the separation of bitcoin into two different chain so regard to all this my strategy is cloudy and not clear . 

It would really still remain as King and knowing BCC it would really be just an another alt. If people would able to earn BCC free from their bitcoins then expect for prices to dump after all when people do still have trust on bitcoin and would dump their BCC. I dont know actually if the support for BCC would be strong for it to sustained its price or even to increase  later on.

Strategy 4:

hedge all you coins on OKex > risk nothing, get BCC

To avoid risks I think I will use a hybrid of these strategies:

- Hodl majority of BTC offline or hardware wallet;
- invest a small part to benefit from current low alt coin price;
- What OP didnt mention, to benefit from peak lending rate (3~5% a day) on Poloniex with a small amount of BTC;
- wait for Bitcoin cash to reach a very low point to get some;

I dont speculate on BTC price in this process as I have no idea how it will go.

Hahah, yes it does gonna happen if indeed all people now choose to store most of the btc that they have. Because how does it happen, if indeed they could easily get a BCC just by having the old btc. So, this is something that definitely will happen because they get a bcc with a very easy way. But it all will surely provide a beneficial effect for those who have a belief that the BCC will have good value, because the plan will never be missing from a possibility
 

Do you know at what time (UTC) it will be possible to sale the BCC and BTC?