Bitcoin Forum

I have an altcoin that im thinking about selling solely to get some of the forked coin segwit2.  From checking online, its around 600 dollars for it.  Are people doing this or not?  Thus selling their altcoin for btc just so they get more segwit2?


Im thinking what about this.  You sell it for btc and you get it.  Then after the fork, you immediately buy back the altcoin you had.


Thoughts on this? 

That has been a profitable deal indeed in case of both Bitcoincash and Bitcoingold. But still there is a risk factor and the act will make the overall altcoin market much more unstable.

Is the price around 600 dollars at the moment for one?  I checked coinmarketcap and it shows 600.  But it shows over 1000 dollars at yobit?


Why would it not be profitable with segwit2 if the price seems to be 600 at the moment?  Bitcoin cash and gold never was this high before the fork right?

Yes you have good idea to sell all altcoins now and buy bitcoin for segwit2 , by doing this you will get free almost 650$ per 1 BTC you have and then after segwit2 you can buy your altcoins back even I think you will get your all altcoins at more lower price because people are sell their altcoins and going to buy bitcoins so you will get profit both ways.

That has been my trading strategy since the waves of Bitcoins fork started showing up. I think you need  to convert it as early as people to avoid high transactions fees since the fess increase when the fork is near. After you keep the bitcoins in your private wallet. After the fork, you can use your private key to extract the free coins and resell bitcoins back to your altcoins.

What do you mean convert it as early as possible?  If you use bittrex, wouldn't you get the btc immediately?  Thus imagine you bought altcoin on bittrex or other exchange.  Now you sell it.  Now wouldn't you get the btc immediately?  Or do you mean get the btc to your wallet?


Where do you keep your btc then for these previous forks?  Do you use something like electrum or an exchange or hardware wallet?


When you say you can buy the altcoin back, when exactly do you do this?  Do you do it after the day of the fork?  When exactly do you do it?

only a few traders are making money. But one thing is sure, with your trading yu pay the exchanges. Why dont you simple hold?

it might be a good idea. by buying bitcoin you got a profit from the fluctuation. and  i believe it will increasing if there is a hard fork again. if you have a bitcoin you will gain the hardfork so it so profitable in my opinion to investing on bitcoin now. but you need to think about how much you able to invest and how much profit that you able to gain. if not big enough its good to consider investing on altcoin

Well what about this then.  Sell the altcoin for btc right now.  Then after the day of the fork, then buy back the same altcoin.  Also should the altcoin be less price that before since people probably are selling their altcoin for btc?


Now assuming the altcoin stays same price, then obviously this would make sense right? 

But do you see the latest announcement that the segwit 2x will be applying to the bitcoin blockchain again? because i can't find anything that related to that news. But the only good fork coin, in my opinion, is only bitcoin god. Segwit2x has been cancelled. What about that? At least bitcoin forks give you some bucks.

Since the news about Hard Fork Bitcoin is widespread, many parties (Bitcoin users) are worried about losing their Bitcoin holdings.

I would buy some BTC but dont sell all your altcoins for it since it looks like most of them are going up in value lately. If you invested in the right one, you will have more profit than converting it to bitcoin.

remember important rules in trading.
never cut loss.
but as long u have gain profit from altcoin,i think its fine for get more profit from hardfork coin.
like now at 28 dec theres 2 even.NXT airdrop and btc hardfork.
make calculation which one can give u more profit or u can buy nxt first n after snapshot sell it and buy btc.

In September a lot of Bitcoin forks negatively influenced on the stability of Bitcoin. I don’t think that one more fork will help to Bitcoin grow faster. I prefer just to keep my alts.

i think these forks will damage bitcoin too

altcoin holder should use a justice strategy when dealing with bitcoin, whenever you mention bitcoin mention a lot of forks of it too

regards

I sold my altcoins for bitcoin before hardfork. I'm not sure that this was the best idea. I hope Bitrix and Binance will send b2x

So, fork Segwit2X has taken place and tokens are charged, and I think now we will go down to try the third time to break through the level of 13k $.

Segwitx2 fork was a total crap, a lot of people were thinking that this fork was going to be one of the most biggest ones, but it wasn't, there was a lot of FOMO about this fork and it ended up being a total crap

A lot of people are really doing this. They are selling their altcoins and shift to Bitcoin simply to be able to qualify for the free give-away coins after the split is fully implemented. Some are even doing cut loss just so their Bitcoin holdings will increase, hoping to get a bigger slice of the free coins. Thus the usual pump of the coins before a split is done. In any case, however, it is important to weigh in the risks and probable profit.

This seems to be the general consensus and a lot of people seem to have made good profit from it. Plus, if this pullout from the alcoin market causes prices to go down then you get back in cheaper than what you initially had and you've come out on top from all angles.

I wouldnt keep my breath as segwit2x is a scam fork and not the same one that miners agreed up on at the new york agreement and doubt it will have any value.As you can see with the price action btc was going up until things arround the fork came out and people started realising that its just another useles coin

If you are interest to have free coin from fork so buy bitcoin now is good option.
Now bitcoin price is not really high so time to buy and get free coin.

It's like gambling, noone knows. But according to previous forks, odds are that this fork might be profitable as well.

Was anyone able to get their segwit fork coin?  If so, what exchange or wallet did you use?  I heard hitbtc and binance gave users forked coins.  Did those users get any?

I don't think it's necessary. If altcoin had a bigger gain, it would yield more than the fork.

For me! I think you still hold your altcoin because if after forks, Price of BTC grown up! You can get profit but
If wrong, you will lose quite a lot! In general, every decision of your choice!

Well as you see, now it dumps very hard even on some little exchange.

You can do this but you can't control the level of risk, you should know that when the market fluctuates all the transactions are blocked due to increased trading volume. That may take about 1-4 days to confirm the transaction.
I would never venture for the immediate benefit, if I had decided to invest in a certain project I would hold a long term

nope. I wouldn't sell it. I did it last time and profit was less than what I could've made if had stuck with alts. BCH fork was only decent fork that made me money.

Most people are doing the same things, sell altcoin and get bitcoin fork. If you feel that are worth and the return are more then your altcoin, you can do so. For me I won't do that, it because no worth at all.
Before bitcoin fork the bitcoin price will getting higher and higher, you buy the bitcoin at the highest price.

If I were you, basically I wont prefer to sell the altcoin because we really dont know that the value will be succesfull at this very moment, both are okay so just maintain it.

Bitcoin forked yesterday how i know, before this time fork price not going up quickly. And i think this fork not be success how cash

Depending on which altcoin do you have and whether they can get you good return in  future.If the alts that you have can provide you good return than why you want to sell it for bitcoin.I don't think that is a wise decision as if your trade is dependent on fork than it is way to risky.Fork can help other alts to rise too.But if you have alts which you think that are not for long term than you can sell them now and buy BTC as it will going to pump atleast till end of January and you have a great chance to get a good return.So make wise decision and calculate all the possible things that can happen and than react to it. Best of Luck.

holding it is a better way having altcoin are more better it may have the possibility of that it may rise in the near future and in fact altcoin are much better to trade for so if you have some altcoin that are ahving some potential for hold it then if you are able to trade it then it may be a good idea also.

I will not care about forks and sell my altcoins wait in bitcoin anymore. Because there are good buy opportunities just before the forks to buy altcoins for very cheap prices. And i can make better profit than that fork coin they will give to me.