Bitcoin Forum

I am planning to sell all of my bitcoin and segwit following the upcoming fork. Judging by the last fork, bitcoin lost 200 dollars within 9 minutes and then carried on going down before rising again.
With regards to selling, GDAX have stated that all transactions will be frozen until they are certain that it is safe. This means that we don't know if we will be able to sell within those 9 minutes right? Considering that segwit will more than likely fall too, what is the best option?

Is it worth the risk just to get free segwit or should I just take my bitcoin out now and wait for the fork to happen before buying bitcoin when it is cheaper? The other issue is that making a 'limit sell' (to avoid fees) will surely be virtually impossible during the minutes following the fork considering the huge price fluctuation? So would a market sell be better (paying the fee)?

What are your thoughts?

Panic selling won't be beneficial in any sense at all. Although you have that option to sell all before the fork and buy back after the dust settles, even then there are certain compromises you'll have to make;

• Inability to claim airdropped coins.
• Inability to hold both the coins and decide which side you will go with in future.

The viable practice in this situation would be to hold and watch how everything plays out over time...

Just hold. In my opinion the potential profit from selling and buying after the fork isn't worth the huge risk.
Hold your Bitcoins, claim your B2X. Maybe sell the second and be happy.

It's also important that you never use GDAX or any other service whose wallet's private key you don't exclusively control for storage unless you're actively trading. Just a security precaution.

Just claim those coins, and dump them, bitcoin is going to be bullish at any time, so you shouldnt be worried about this because bitcoin is always going to recover, and you should know that this is always happening with all the previous forks on the past.
I am going to sell 0.10 bitcoins tomorrow, but this is because i need some fiat money, not because i am worried about the fork, because i know that in a few weeks the price will be touching a new all time high, and everybody knows that.

My thought is that you're creating yourself in your mind an impossible situation.
First thing, and only one that is certain:

Now, if they plan to freeze transactions, how do you plan on selling your seg2x coins?
It's clearly impossible.

Assumption, what if bitcoin won't be cheaper?

Another assumption

You are already describing a situation when of course it would be better to sell, but just because this happened once, do you think it will happen again?

And most importantly..how many coins are we talking about?
Because if it's less than half a coin you're wasting too much energy on this plan than it is worth.

I will keep my coins in my wallet this time. For a few % up or down I won't lose night of sleeps refreshing stats on exchanges.

Better wait and zero risk, just wait, claim b2x and dump it, maybe can sell cheaper but risk its 0 and at the end ull have more btc and that is what matters

Thanks for the replies. I think I am overthinking this way too much. I'm just going to hold and see what happens.

Yes of course that you are thinking a lot about all this problem, i am not thinking about this fork, i am just waiting until that day comes in order to dump those coins to buy more bitcoins, and once that the price reaches more than $8000 i will dump them, because it seems like a good rate to sell all of my bitcoins.
I am sure that the price will go up for a while, but i am good with this actual rate, no matter what.
Try to not dump them, you should need to be more smart and start to less-worry about this situation.

Actually,we still don't know clearly whether hard fork would succeed or not.If it succeeds,it might replace the legacy bitcoin and if it fails,then there would be a split in the chain creating new B2X coins.So,if the second condition happens,then immediately after hard fork,many bitcoin holders would immediately sell their bitcoins to buy cheap altcoins.So,bitcoin price would fall.So,you may sell your bitcoins exactly near the hard fork when its price is at its peak and then buy after fork when its price starts falling and gets settled in a down price.

There is risk for every hard fork. Just like Aug. 1 fork, those who are in the rush of claiming free Bitcoin Cash instead lost their bitcoin because a lot them didn't know how to claim it and scammers take advantage of them. So better not to rush to get this free coins but instead wait till everything is clear before claiming it. Although the price will have significantly decrease then, but its better to be safe than sorry. So just hold your coins and wait how everything pans out.

I have a better suggestion which I'm currently doing recently. I noticed that before the fork happens, the price of altcoins will go down because the price of Bitcoin is pumping. I'm using my Bitcoin to buy quality altcoins which usually pumps after the fork. Then that's the time when I'm going to convert my altcoins into Bitcoin.

That's one of the biggest reasons why people are losing in the market after panic sellings. They think they cut off their loss, but actually they create themselves another big loss after panic sellings.

I'm planning to act calm and follow the market carefully during the fork to react more smarter.

Panic selling won't be beneficial in any sense at all. Try to not dump them, you should need to be more smart and start to less-worry about this situation.

You want to sell your Bitcoins before the drop right after the fork with the knowledge that it will rise again? So you're basically planning on using this opportunity to sell high and then immediately buy low? I don't know. I mean, that sounds like a good plan on paper because you're basing your actions on certain precedents, but I don't think Segwit2x will be like the other forks. Certain entities are aggressively pushing for it to become the main chain, so it's certain to create much more flux, for better or for worse. You might be able to gain more just by waiting for the airdrop. It would be much safer and wiser to hold both until the dust starts to settle in my opinion.