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Title: How will new fork effect investors using coinbase? Post by: smithw on November 08, 2017, 04:42:28 AM How will the fork on the 16th effect investors hold btc with coinbase? They sent an email saying "Any user storing Bitcoin on Coinbase at the time of the fork will be credited with an equal amount of the new Bitcoin2x asset on the Bitcoin2x blockchain. No action is required - we will automatically credit your account. If you have 5 Bitcoin stored on Coinbase before the fork, you will have 5 Bitcoin and 5 Bitcoin2x following the event." So with the split will btc automatically go down 50%? thanks
Title: Re: How will new fork effect investors using coinbase? Post by: swpqlhmgp on November 08, 2017, 04:51:09 AM You can understand that it's free to give you a new currency in 16 days, and you don't need any setup or action. However, the price of bitcoin may fluctuate significantly, requiring psychological preparation.
Title: Re: How will new fork effect investors using coinbase? Post by: smithw on November 08, 2017, 04:53:35 AM Thanks, for the reply so btc wont automatically go down like a stock would in a stock split? thanks again
Title: Re: How will new fork effect investors using coinbase? Post by: rommelzkie on November 08, 2017, 04:59:14 AM Thanks for this info. So it is clear that there will be two coins btc and b2x coin.
May i know which of them has more supporters? Title: Re: How will new fork effect investors using coinbase? Post by: Kakmakr on November 08, 2017, 06:11:37 AM Thanks, for the reply so btc wont automatically go down like a stock would in a stock split? thanks again Well, we expect a little drop in the price 24 hours prior and 24 hours after the fork, because a lot of exchanges will be closing for trade. There are also people who bought more BTC prior to the fork to increase their free coins after the fork, so they will most probably dump those extra BTC just after the fork has happened. < or the balance, because they are going to sell the free forked coins and buy BTC again > ^smile^ We have seen this with previous forks, so this is to be expected after the fork. Title: Re: How will new fork effect investors using coinbase? Post by: dothebeats on November 08, 2017, 06:29:08 AM Thanks for this info. So it is clear that there will be two coins btc and b2x coin. May i know which of them has more supporters? You can go here (https://coin.dance/blocks) to check who are supporting what as of this current time. Miners have started signalling S2X and the permanent chain-split would be inevitable by the 16th. Thanks, for the reply so btc wont automatically go down like a stock would in a stock split? thanks again Yes it won't, but looking at previous forks, the price tends to fall down after the fork happened/concluded. After the forked coin has been pumped, the money flows back to btc and continues for a push. |