Bitcoin Forum

What y'all going to do before august 1, and after? I really hope that most of them will sell their btc.

This question was annoyed me so much for a couple of days. Because, honestly I don't care what will happen on this date before or after
august 1st, it is just a massive FUD only. It is supposed to be ignore by the community as much as possible.

If I have any BTC and can safely split it, I'll be dumping BitcoinCash with extreme prejudice and alacrity. But everything is too fluid for me to say much more than that.

Key principles I'm keeping in mind are to protect myself from risk of malware related to BitcoinCash, malfeasance by exchanges locking down funds or screwing up or getting hacked, and preserve my capital. Which means I might be exiting BTC entirely and leave it to others to play with the BTC/BCC mess until it is safe to re-enter. Alts are likely to get hammered worse that BTC (it's a consistent pattern), so they are not a good option either.

As everybody knows very well there wil be two things, split or bad split. In any situation the preparation would be saving our coins securely into wallets and put no single coin over exchanger platform. No transactions must be done on the day of split as we may loose the assets and it's better to keep quite until the situation has got completely resolved, may be to wait until first two weeks!

Do not panic, panic makes you poor.
Stay relaxed and sit sweet and drink coffee. Enjoy the lowest price after hardfork. You will be lucky. ;D

And I even like to watch the panic. It tempers me and I laugh when a man is happy that they sold their expensive coins, and then biting his elbows. Nothing August 1 will not and I'm sure the price will go up. I'm more interested in the price per transaction.

I personally already sold bitcoin yesterday when the price is still at 2800 dollars because i just do not want to pass that good opportunity and I'll buy it again after august 1, because I'm sure in a few days the price of bitcoin will fall and will increase again after 1 august.

Before August 1
Withdrawal all bitcoins I have on exchanges and unsecured wallets.
Exporting the private keys

After August 1
Doing nothing especial
Just waiting for value of Bitcoin to increase very much due to high demand

Before 1st of august, I'll save my funds by moving them to bitcoin core wallet.

After 1st of august, I'll move my funds to excahngers and start trading there back again. The strom is about to be silent soon.

trying to find a way to broadcast transactions over "bitcoin cash" network without needing to run their clients. even if it means coding something myself. and i need to act fast because BCC price is dripping as we speak and it is dropping fast.

suffice it to say i will use the profit i gain from this airdrop to buy more "bitcoin" since after August first there is a good chance for a big rally. and whales are getting ready for it with the recent dip.

Before Aug 1st HODL, After Aug 1st HODL!  ;D

Selling BTC, exchanging them for altcoins are deeds of immature Bitcoin believers. And why do you hope most of the people sell their Bitcoins, you wanna buy at cheap?

Best is to hodl them on private keys and reimburse them to your wallet once fork completed.
' Its raining outside, park your car inside the garage. Let the rain go and you will have 2 cars once you open garage back. Isn't that amazing! '

What do you think about the bitcoin course in the near future?

Actually I do nothing. The price has come back on the high level and everything I did is cashed out some mBTCs for my online shopping. I don't plan to touch other coins while it it not necessary.

No I do not have any plans to sell off. I have few bitcoins in xapo and coinbase and I will move them into my electrum and that's all what I need to do for this August 1. Anyhow bitcoin will manage to continue its course of raising toward million dollars hence I never need to get panic and never need to sell my stash.

I'm waiting to see what the results of the fork are and how willing the community is to work together, but I'm thinking of closing any positions I have open and waiting to see if I can exploit any splits between BTC and BCC, but I don't know if I'll sell and just ignore the possibility of everything going to shit.

It's all a waiting game. I will continue working as normal and very little will change for me, but I'm going to avoid going into any compromising positions and trying to take risks where the rewards simply aren't worth it. Especially if BCC starts t crash harder than it is.

Just now, in thought, buy another bitcoin or wait for what will be after the first of August ... ???

Move all of my bitcoin to private wallet or buy altcoin of my choice
I hope after split,the price of altcoin will rise and it will make profit rather than staying in my wallet

keeping my bitcoins where they are. only weak hands will sell their bitcoins. once everything thing settles down bitcoin will reach new highs.

Relax and do not panic with anything going with bitcoin, I can feel a $ 5000 perBTC fee, I'll wait for that then I'll sell all my bitcoin, there's nothing to be afraid of

Really, very many people have said something like this,

But if indeed I have to keep answering, then my answer is because I do not have so many bitcoins so I will not do anything but stay the day as usual.

Relax, sit back and enjoy the ride...I'll keep my coins where they are, and probably by extra by the time the price has dropped.

I am pretty new to all this and don't hold much BTC, but this possible split worries me. Not sure whether to cash out prior to August 1 or hold.

Do you think that BCC will stick around like ETC did with that split???

Maybe sell the BCC ASAP when able to, and buy back in when it hits rock bottom and hold for a bit?

I honestly have no idea how anyone here can say anything with certainty. BCCmight have some use cases that people want to utilize.

To answer the question what I will do before August 1 with bitcoin and after the first avast, it is necessary to know what will happen to the crypto currency in this and the following days. Since we probably do not know this, there are only forecasts on this matter, it remains to wait and hope that all problems will be resolved safely.

Its betyer to those people have bitcoin to dont sell thier bitcoin or dont be panic. Because as of now we dont know what is really happen in bitcoin in august1 but I hope it will increase. For sure after august 1 it will increase more because they dont have doubt in the mind of people . So we expect that price of bitcoin possible become at 3000 dollars so buy more bin now and make little profit in just few weeks.

Before aug1 I will save bitcoin into an offline wallet with private key and also Im buying cheap altcoin and hold. And after aug1, Ill just observe first the movement of btc price on what the next thing to do. With all this things happen, also I planned to hold bitcoin because I can see that price will regain and increase so I can earn profit in the future.

Nah. The only sort of 'use case' this coin will experience is all speculative. If you closely look at how much hate is flowing towards Jihad Wu & Co (rightfully so), you'll understand that people will literally sh!t on that coin. It will be nothing more than one of the plenty of pump and dump coins that the altcoin market has. I can see a lot people converting their coins at the very first stage, which obviously will affect the price of BCC negatively. Some people will prefer to wait a while for everything to calm down, in the hope that this coin gets pumped, and then they will convert their BCC coins to Bitcoin. I think I will follow the latter route. But as you also pointed out, there is no way to tell what is going to happen, so we'll be better off waiting for what's going to happen.

So will Bitcoin split or not??? I am now so confused more than ever! 4 days ago everyone was saying that no split will happen and now different.

From what I've understood, since I am not even close to an adept user (I'd classify myself as a newbie regarding this technical stuff), Bitcoin is going to split (BCC/BitcoinCash). I'd recommend you to read this thread for more information https://bitcointalk.org/index.php?topic=2012799.0

Which occurred in August is only about the chainsplit between bitcoin and bitcoin unlimited, another bitcoin process will be done in november, there needs to be a calm attitude in the face of this and so is the possibility for hardfork will actually happen, panic is not a choice right due to bitcoin forward still there are many possibilities after system upgrade.

Panic and FUD can easily be spread though, especially for inexperienced users, I'd classify myself as one of them.
Many people including me are quite unsure of what to do which can easily deter newer people from all this process and involving in Bitcoin.

hm, I've read somewhere that split isn't going to happen?  ???  I'll try to find link to that article.

I'd be probably buying 0.5BTC before the aug 1st, and then if the price goes lower, I'll invest for 0.5BTC more. That's somewhat my plan for now.

I'm really not panicking  :D I'm just excited what will happen, and waiting for the price to get low and then will buy after that  ;D

Well i really don't have any bitcoins for now but before august 1 if I have bitcoin, I will store those in hard wallets by now or some wallets that I have 2fa for it or change it to alternative coins. After august 1 i will get bitcoin back to exchangers.

I think I am doing what most people are doing. Taking Bitcoin out of exchanges before... just waiting and watching the fork play out after.

I'll hold the Bitcoins I have but I won't be buying any more. I'll wait until after August 1 to see what happens next. I'm also halting all my trading until then as well at least with Bitcoins. I'll still trade other cryptocurrencies and US dollars.

Another thing I did was I moved some Bitcoins off of exchanges to make them a little safer. There is no point in taking more risk than we have to.

that's a very good plan, relax and wait the good moment for buy, price down, buy as much as possible and you will very lucky.

“august 1”. A very trending date and everyone is talking about it. It seems that no one is ignoring it. I can’t really predict and guess what will be on that date and I’m sure no one can. Since my wallet is still empty by now, I have no to cash out before august 1 and I have nothing to sell. On that date, I am just planning to monitor bitcoin price coz maybe it increases. After august 1 if the price really goes high, then maybe I cash out. Well, it is still “maybe”. Let’s see what will going to happen.

It will happen if the coin has a big dump ,, but if otherwise? After 1 August it turns out all the coins got a big pump, what would you do? Still buy it or will it still wait ??

In case Bitcoin can experience some crash because of this August 1 hullabaloo, then it can be a rare opportunity to snap up more Bitcoin at its low price. I am sure that there are already many who can just be waiting for this to happen...they can smell the bloodbath and they are all prepared to exploit the whole thing.

And then Bitcoin will again rise. This has already become like a never-ending cycle for Bitcoin and yet people are still spreading FUD like there is no tomorrow and as if Bitcoin will die (it has its own power to resurrect by the way!). 

Yes, the best thing to do is just relax, drink some nice cup of coffee and then read the whole Bitcointalk forum.

As a trader you should really be wise and do have attention on price actions on which our intuition do really tell us that this is the best time to buy. Anytime really might happen on trading world which price would go into the direction that we least expected and this is really the hardest part of being a trader on which we do keep on predicting on where those prices will go.

Nothing. I'm just waiting now, I have already secured my BTC and don't plan to sell no matter what happens. After 1st Aug if hard fork happens I won't sell BCC instantly, I would prefer waiting and see how everything turns out and the situation of market. But if I am going to profit I am planning to sell BCC and get BTC.

I'm just trying to understand why all the talk around the split topic is just FUD, as is claimed by many on the forum. People claim its all FUD, but never bother explaining why.

The posts above seem to suggest that Bitcoin Cash has no chance against BTC in the long term, in the sense that BTC will continue to rise after the fork. How different is this case from what happened with ethereum, that is if BCC is the new ETH and BTC is the ETC equivalent?

I think this is the most reasonable thing to do.

I don't see BCC gaining much traction.

Why do people make bitcoin cash when they can just use litecoin. Simple solution.

I think I would just hold my coin and wait for what would be the effect if it would drop maybe I would just wait for it to recover,
If the price increase maybe I would sell some of my coins for my expenses.

Talked about at length here, though not conclusively: https://www.reddit.com/r/litecoin/comments/6pgso7/why_on_earth_would_you_use_bcc_if_you_have/

Just save the coins securely into cold storage and never touch then unless and until the split situation dissolves completely. If it is said by big investors that we should keep distances until the situation is resolved then just follow the advices and stay profitable I would say. :-)

It's just like gaming with some probablity.!

Let's see the fluctuations in price. : https://coinpedia.org/news/potential-network-disruption-chain-split/

So, now you recommend sell bitcoins and before 1 August buy them again because after August 1 the price will go up? ???

I'm searching to understand!

I anticipate price dropping as August 1 approaches and immediately after (sharply), then gradually rising throughout August. Fear and uncertainty make people more likely to sell.

If I do as your tell, maybe need after November 15th, when SegWit2x active all, stable and not have problem to use Bitcoin again, is right? Because in August 1st just is first step on the road active SegWit2x and still have error, bug anytime.

Okey, I sold all of my BTC for ETH and some others. I will wait till the storm settle and buy BTC at it's lowest price. Also, I'll watch the coin BCC or what, if it has future and if I would see an opportunity (as it was with ETC, which skyrocketed a week after the hard fork) I may also consider investing in BCC. Also watch for ETH price, cause there may be really high volatility after August 1.

Maybe this is dumbest move ever!
Better to hold your coins and plan your next move after the correction.
You have nothing to lose now when you just hold your coins.

A lot of threads are being created with the same topic. Why you asking what we/you should do before and after August 1?

There's nothing we need to do but just to keep on holding our bitcoins in a wallet where we hold private keys.

And well, you are suggesting people to sell so that you can buy at dip?

good points . . .AGAIN. . .
you just need to secure your bitcoin and hold.
Possibly be in a position to buy some more if there is a big sell on.

Why after August 1?,I think before. After August 1 the market will stabilize somehow. Am I wrong?
What do you think this whole issue with btc will bring to altcoins especially to eth?

I can't predict 100% the future I think is right, but next time I believe Bitcoin have some crashing make the price of Bitcoin testing again support line $2300. Maybe, this is the happen correction price on market. But the whales take advantage of that fake some bad news as BTC-e got hacked loss many Bitcoin, Bitcoin will HardFork and split chain network to more type ... for create panic seller on market as yesterday. So, if support $2300 breakdown, next lowest price will under $2000 is possible.

I'm going to do the same I have been doing ever since I joined bitcoin community. There's nothing which can stop me from believing in bitcoin. I have taken all the precautionary measures needed to be taken to secure my coins already and I'm going to hold them. So I'm not much bothered about questions like what's going to happen before or after August 1. I hope everything is going to be fine soon.

Do you hope they sell their Bitcoins to buy it for lower price? ::) Smart!
I think all those people who sold their coins being under influence of all this fake news panic about August the 1st are regretting now a lot.
I haven't any plans about my coins, cause I have none.

Yes we don't have to do something for it but only securing our bitcoins.

We need to back up and write our private keys somewhere on a paper so that we can have a written private key on a paper.

What!! what about you are telling? with out cashing out how can people use lite coin as a cash? will you explain it here? I think you are joking. where Lite coin using as a cash money!! I think you post here for only increase your post and activity not more then anything.be alert,spamming is not allowed here

Before 1 August I will exchange the bitcoin to the ether and not to sell the currency offline money. After 1 August maybe bitcoin prices will return to normal and will not change much in price.

I will withdraw my bitocoin from exchange and let it sit nicely in my wallet and after august 1 i will dump that bcc and hope it crashed into oblivion. After that maybe wait 1 week until the situation is allright and start moving my btc again.

Smart people will hold their bitcoin, but stupid people will sell their bitcoin
And smart people will buy at low price from stupid people

i agree with the above but not necessarily the stupid part
I would say inexperienced and possibly people selling higher
than they think they can buy back again at a lower price
which can lead to a feeding frenzy  ;D

I will just follow the announcement i read from Livecoin.net and Bitcoin.org.
Those active Traders of different coins must not transfer your bitcoins before August 1 and after August 1.
They remind us to wait for further instructions.

I was actually planning to sell most of what I currently hold a few days before 1st of August. Now, I've decided to keep holding as much BTC as possible and hope for the best. Price has dropped quite a lot the past 2 days though, made me wonder if I should have sold back then, it was a good opportunity to be honest.

i hope you don't sell all of your btc before 1st august and only sell quarter or half of the total bitcoin you have because you still need to save the most bitcoin you have for future. if you still have money, maybe you can buy back bitcoin again without sell your bitcoin so you can increase your btc. but if you don't have btc, maybe sell btc is the right choice for you but first you need to calculate how much reduce your money so you can know how much of the total of your money.

I suggest to you sir dont sell your bitcoin before and after august1 because bitcoin will increase more after august 1 and possible price for sure of bitcoin will become 3000 dollars each so if you sell your bitcoin now you lose some profit.

Yeah I also thinks that most of the people will sell their bitcoins before august 1 before the hard fork event will happen because  they were pretty scared on what things may happen in the bitcoin network.But me i will not sell my bitcoins and i will just wait and hold

I sold a small amount of BTC quite a few days ago, around 18th of July, I do regret it a bit now but it wouldn't make much difference. Anyway, I'm not planning to sell any at the moment since the price keeps going down, I'm just planning to risk it and hope for the best.

BTC is volatile AF and will probably always be, just get used to it. Especially during these few weeks before Aug 1. "Bitcoin will fork" = everybody panic sells. "BIP91 ok, no fork" = everybody buys. "Oh wait Bitcoin cash = Bitcoin will fork anyway" = everybody panic sells. Same story over and over. BTC will go up and down a couple of hundreds of dollars each time these things happens and the more expensive BTC gets the more these dumps and pumps will feel like. If bitcoin ever goes to lets say 10k, well then a regular dump in one day can easily be 1k and everyone will panic again.

After the news of Bitcoin cash, the price dropped 200-300 usd but seems to have stabilized now which shows more strength than what happened after the first FUD news a couple of weeks ago.

On aug 1 when the news WILL say "BITCOIN IS NOW FORKED" = panic again.

When the the storm has calmed about 1 week after that and when everyone realized that Bitcoin cash didnt really mean anything bitcoin will rise again and at this point and after I dont think we will see prices below 3k ever again.

In november when segwit2x and the actual hardfork gets implemented there will be panic once again and price will drop 500-1000 usd. Hopefully from 4k to 3k max.

Once this is settled and bitcoin now is truly scaled, there will be no stopping it :)

I believe that majority is going to grab bitcoins before August 1st.  Prices are affordable before the execution of Segwit.  Those who are already having enough bitcoins in their wallets will keep them safe there. But those who have sold them off under negative pressure or buy getting panicked, will try their best to buy bitcoins before Segwit and after the Segwit, all are going to enjoy the profit.

I think you should sell a bit of Bitcoin because we are not sure what to expect in August, if you have Bitcoin you should withdraw 50% of your assets, so it will be safer.

A lot of people now are worried about Aug. 1, even I, because of what I heard that bitcoin price will dump. But I am believing that after that, for sure bitcoin will still increase and make us all back into right now or what have bitcoin right now. But before Aug, 1 I will going to transfer all my btc in other wallet or transfer it into the bank then after recovering I will going to transfer it again in my btc wallet.

Everyone is worried I guess. But I think if you have "faith" and "trust" on bitcoin. There is no need to worry. I'm not into bitcoin for long, but based on my experience and researched, bitcoin had endured so many obstacles before and it have overcome everyone of them. So I think this is the biggest so far, but the result would be the same. My bitcoin is already secured and I won't touch it after everything has settled down.

You mean you are hoping many of the users here will be thinking of selling their coins too before August 1?
Actually you dont need to say that.  I think thete will be a lot who will be doing it.
The panic will come and many will be trying to at least be at safety and change it to cash for now. Then go back after August 1.

Before August 1:
I will just monitor the price of different cryptocurrencies I have. Most of the coin price goes down and it is alarming me. But I think it is good because if the price rise I may not cash out at this moment. It is very risky and not safe to transact according to the news that I have read previously.

August 1:
I also monitor the price in this day so that I will be updated to what will happen in this day. I don’t know what will happen and if there will be a “bitcoin split”. I am just hoping that it will be a better day to all bitcoin holders.

After August 1:
If the price rises, I may cash some of my money I need so I can buy things I like as an award for myself for working hard to earn money.

yes there's some people who do have a mindset like that or they can also divert first there bitcoin to another alt coin and wait what will happen
after aug 1 as we all knew that traders will always find a way to generate earnings and they will wait what will aug 1 will bring them.

I see a ton of noobs speculating about what will happen with the Bitcoin Cash (supposed) hardfork. This is a good article by Luke Dash Jr (Core developer) on why August 1st is nonsense and it's only your fault if you fall for the FUD:

https://medium.com/@lukedashjr/why-nothing-will-happen-with-bitcoin-on-august-1st-93f49a1a930d

Everything is set and done now with segwit locked in, you guys are wasting your time with Bitcoin Cash, I may not even bother to install the client to dump the BCC.

I wonder if the BCC hard fork is (or was) really just a short-selling strategy.

Thank you. This seems to be the most informative and sound advice of all.

Same question repeated many times on this forum, don't need to be panic as seeing the scenario I can observe that august 1 will not going to affect the price negatively, the price will surely going to increase after august 1. So try to keep calm and wait for it.

I'm buyin DOPECOIN!

yes everything is being fine in bitcoin now and so think now it is the best time to save your bitcoin its time to buy bitcoin and not to touch it long time it will surely make you earn bitcoin more and more if you see the price of the bitcoin is more than you invested then it can be a time for you to sell your bitcoin and make money but waiting for august first will be a good decision for good profit.

Actually I don't understand the people's problem actually what they want by this. When there is little bit happen in bitcoin then the people start crying like this it will grow again in just 1 or 2 days once again. Like you are not having knowledge bitcoin has clearly mentioned that do transactions as more as you can in these days because by august 1 you should avoid transacting bitcoins as it may get struck some where else which might lead to losing those coins.

You need to find what works for you, if you perform someone else strategy then you could end inadvertently making the mistakes of someone else, but what I’m going to do is simple I’m holding, no matter what happens I’m holding since I have no doubt that all of this about August 1 is just FUD.

Thank you Casdinyard!!!

I understood some points about Bitcoin splitting but not fully. I am looking for local translations. Hope there is someone in this forum who is willing to translate the announcement into local language.