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Is sending BTC to a NEW wallet absolutely necessary? If one doesn't intend yo run any risk at all, even at the expense of not using BCC at all (and the possible reward of selling the BCC), does one really need to risk doing transactions (sending) from old wallet to a new wallet after the fork ?
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Trading 101:
- Do not trade if you are doing so for the emotion/excitement. Trading is not a game/entertainment.
- There are 3 things you can do in trading:
1) Buy
2) Sell
3) Nothing (Hodl).
ALL THREE trading strategies ARE EQUALLY VALID.
- Be aware that you are competing against the best mathematicians in the world and the large organizations that hire them with unlimited technical resources. You are the loser always in the long run, your money feeds
them.
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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.
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  ? |
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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.
But selling all BTC in exchange for FIAT would leave the FIAT on the exchange that you sold....isn't that risky too? |
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- 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 thing is, transacting with BCC (selling them after the split) still sounds kind of technically complicated and risky. Am I right ? |
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Supposing one doesn't want to take any risks at all, EVEN if they don't gain any Bitcoin Cash nor wish to risk doing any transactions with BCC at all, not even selling them to increase BTC amount.
- Would just keeping the current Electrum wallet that contains BTC without doing anything until situation clears in the next few days, weeks or months be a sure way not to lose any BTC ?
By current Electrum wallet I mean not transferring to a new wallet or anything, just having wallet as it is with the nmemonic key and password safely stored in paper ? Not doing any sending or receiving at all during that time.
This is a "minimalist strategy to keep your btc safe on Electrum on and after August 1st". Please give me your opinion/feedback, thanks.
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In case nobody has mentioned it already, I strongly recommend all bitcoin hodlers to inform themselves of what's coming SOON....in this article from Bitcoin magazine: https://bitcoinmagazine.com/articles/countdown-segwit-these-are-dates-keep-eye/One quote to watch out for: "If a chain-split is not avoided, the situation could become far more complex. By mid August, there could potentially be one, two, three or maybe even four “Bitcoins”: “148 Bitcoin”, “NewPoW Bitcoin”, “Bitcoin ABC,” as well as “Legacy Bitcoin”." Another quote from an article linked to in the first article: https://bitcoinmagazine.com/articles/bitcoin-beginners-guide-surviving-bip-148-uasf/"First off, be aware that a chain-split create a high-risk situation. There is a chance that some sort of cyber-battle will break out between the two camps, perhaps even escalating to the point where bitcoin’s exchange rate(s) drops sharply, possibly to zero. Make absolutely sure you are not holding more value in bitcoin than what you are willing to lose." |
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I mean, being able to do a national bank transfer (not international or sepa) from a Uk bank to the transfer company and them then sending the funds to bitstamp's bank in Slovenia.
Asking this because some companies like Virgin money and Currencies Direct in the UK will not do this, that is, transfer to bitcoin related companies.
Any help appreciated, thanks
Even if you find some company doing this then Bitstamp will reject your deposit as funds will be coming from this company's bank account and not your own personal bank account. You could be right on that although in 2013 I did do this thru CD and no problem. Of course now CD doesn't do it anymore. In anycase trying to get some btc through coilfloor express trade which is with faster payments within UK. Thanks |
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I mean, being able to do a national bank transfer (not international or sepa) from a Uk bank to the transfer company and them then sending the funds to bitstamp's bank in Slovenia.
Asking this because some companies like Virgin money and Currencies Direct in the UK will not do this, that is, transfer to bitcoin related companies.
Any help appreciated, thanks
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I'm confused as to what you're trying to say. Electricity cost is included in the $65 CAD/month. It _IS_ profitable to mine with us if you have the most efficient mining hardware.
Thanks again for a reply, What does this mean then : does not include power supply rental or assume that you will provide your own. ? |
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Hi, This business seems interestin.
Sorry for the for dummies question, how does this work ?
Do I have to buy a mining device, such as Antminer or other, then send it you physically and pay the hosting fee and you send me the earned bitcoins monthly ?
Please let me know, thanks.
It works just like server hosting. You buy and ship the miner to us and we provide you with power, space, and internet connectivity for a monthly fee. The miner gets pointed at whatever mining pool you desire so you get all the bitcoins mined. We invoice you on a 3 month pre-paid basis (month to month is available but it's more expensive). Thanks for the prompt reply. So could you or someone inform me how much bitcoin I could make per month net based on your prices, as I have no idea and would like to consider investing in this. We cannot give you a solid number. This is a calculation you will need to learn to do on your own. It all varies based on what miner you purchase and the miner's performacne metrics (how much power it consumes, the hashrate, etc). All we can tell you is that we ask $65 CAD per KW/month. So say if you were to get an S9 that consumes 1.3 KW and produces 13.5 TH. Ok, so using a simple bitcoin mining calculator that shows that the miner will mine 0.185 btc per month which is $331 USD per month at today's btc/usd rate. Ok, so now for the hosting fees. $65 CAD x 1.3 KW = $86.45 CAD in monthly hosting fees ( does not include power supply rental or assume that you will provide your own)
$86.45 CAD is equal to $63.10 USD. Subtract $63.10 from $331 = $268 USD pure profit for you monthly. My suggestion is don't blindly jump into mining without taking some serious time to learn the details of this game and figure out if the risk is worth it for you (yes there are risks, it's not a money tree). Good luck with your research! In any case if I have to pay for the electricity, which is the real issue, then I don't see it profitable |
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but still people are there who are holding bitcoin for different purposes, those people are holding bitcoin for playing gambling online using bitcoin. they are also holding bitcoin for online shopping and for transaction of money from one place to another. and may there may be so many other reasons for which they are using bitcoins. [/quote] That's right, even if one is a holder, it's a good idea to give oneself some gratification with small amounts once in a while to enjoy the ride, such as purchasing games on Steam. ***
This quote from reddit seems very appropriate for this thread: There can only ever be 21 million people on this planet that will be able to hold 1 whole BTC. If you consider the large exchangers, early miners and whales (just the top 500 addresses hold 4 million BTCs alone, that's not counting the big holders who split into many addresses) I imagine the general public will only be able to get a hold of maybe maybe 8 million BTCs AT MOST. Of those, many will hold more than one. So, I imagine only 3-5 million people on earth will ever hold at least 1 BTC - ever. Considering 7 billion people, you're going to be one of the lucky ones. https://www.reddit.com/r/Bitcoin/comments/6e3reo/remember_only_35_million_people_will_ever_hold_at/ |
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March 27th 2017 : $1000 May 21st 2017 (today): $2040 The elite is growing quickly  |
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Thanks, obviously I don't know much about this kind of business. Guess it might be profitable based on hosting several devices, not one only. Perhaps in the future you could add a for dummies section at your website with some examples of expected returns, something like :based on hosting 4 "x name" mining devices, total hosting cost per month= CDN$ N, total net returns for client = CDN$ N or something like that. Or maybe not....if you are at full capacity you probably won't run out of experienced customers at any time so no need to explain things in a more dummy like manner for people like me.
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Hi, This business seems interestin.
Sorry for the for dummies question, how does this work ?
Do I have to buy a mining device, such as Antminer or other, then send it you physically and pay the hosting fee and you send me the earned bitcoins monthly ?
Please let me know, thanks.
It works just like server hosting. You buy and ship the miner to us and we provide you with power, space, and internet connectivity for a monthly fee. The miner gets pointed at whatever mining pool you desire so you get all the bitcoins mined. We invoice you on a 3 month pre-paid basis (month to month is available but it's more expensive). Thanks for the prompt reply. So could you or someone inform me how much bitcoin I could make per month net based on your prices, as I have no idea and would like to consider investing in this. I've used a profitability calculator online which shows as follows, based on zero electricity costs (which is covered in your monthly fee I believe) for S5:  In this example I see a profitability in BTC of around $30 per month ($1.04 per day). How does this work if your lowest fee is CDN$ 65 per month? Is there an explanation? Or maybe I should be thinking of mining an altcoin to make it profitable ? |
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Hi, This business seems interestin.
Sorry for the for dummies question, how does this work ?
Do I have to buy a mining device, such as Antminer or other, then send it you physically and pay the hosting fee and you send me the earned bitcoins monthly ?
Please let me know, thanks.
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I don't know about being gentleman or elite but we can accept with complete dignity that we are technology superiors. In the era when everything is turing high-tech, why not the most important aspect of human life ie. money. Bitcoin has provided new grounds to the definition of money and early adaptors have made the well-deserving profits till now which gonna multiply more in coming years!!
Well, just look back at the price exactly one year ago. He who bought at around $436 back then would have his capital now x4,2 Imagine those who bought $10K, nevermind those who bought $100k...much much wealthier |
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Buying a house was a good decision. No matter if bitcoin continues to up and up who knows where, a house is essential and I would have done the same.
Right now the bitcoin chart looks like a "mother of all bubbles". It needs a correction.
Looks like beginning of a standard S curve to me... The part where we go upwards rapidly.... There will be a correction, but nobody knows if it will be now or @ $11k One thing I've learned over the years is, don't miss the train to the next level... I agree. Bought some when was 1200 high a few years ago...then suffered the uncertainty/pain of when it later crashed down below 200...but HODLERS so far ultimately win...so good time to buy is now, whatever happens |
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