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Author Topic: Bitcoin hardfork  (Read 1228 times)
Seansky
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March 20, 2017, 12:04:39 PM
 #21

I have 100 bitcoin...what is your advice...keep hodling un til after hardfork and wait to see which chain becomes dominant and sell the other chain ..or should I dump out now...take my profit (avg purchase price around $450) and watch to see which becomes dominant chain and then re-buy ?
This is just my advice though, dump if you want since you already got a profit if you sell now and re-buy when you become certain which chain will dominate but I think it would be also good if you will just hold it and trust bitcoin since BU have many flaws right now more than bitcoin even if it will solve the transaction issue, it still have more issues on it's own when compared to bitcoin that only haves the block size as a problem.


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Qartersa
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March 20, 2017, 02:37:20 PM
 #22

I have 100 bitcoin...what is your advice...keep hodling un til after hardfork and wait to see which chain becomes dominant and sell the other chain ..or should I dump out now...take my profit (avg purchase price around $450) and watch to see which becomes dominant chain and then re-buy ?
This is just my advice though, dump if you want since you already got a profit if you sell now and re-buy when you become certain which chain will dominate but I think it would be also good if you will just hold it and trust bitcoin since BU have many flaws right now more than bitcoin even if it will solve the transaction issue, it still have more issues on it's own when compared to bitcoin that only haves the block size as a problem.

I still would stay with bitcoin, this is my personal preferrence though. I still trust in bitcoin and I don't want to follow a hardfork. Well if it doesn't hardfork and BU becomes the new bitcoin what else can we do? We'll all just have to follow the trend and adopt. If we don't adopt we die, I just hope there won't be an adverse effect on bitcoin that would change the current advantages of bitcoins.

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March 21, 2017, 03:38:55 AM
 #23

That scenario would lead to a price split where the vast majority of hashpower and value was with BTU.

No, it's not.  It's completely unknown what would happen to price depending on random people power dumping 200,000 coins at once on each chain.  Hell, both chains could crater to nothingness.

That would not make any sense if you apply human nature in the equation. If you hold 200,000 Bitcoins would you dump them on the other chain you do not like just "because" or are you happy with the doubling of your stash? It would be very illogical of them to start a dumping war because no one would win.

Except it already happened in Ethereum.

That is a different scenario. No one who was with the ETC chain could dump on the ETH chain. This is what I believe could happen, if the blockchain splits into 2 there is one individual who I am positive would be willing to dump on the BU chain. Mircea Popescu, if he still holds a lot of Bitcoins. Then Roger Ver and the others will have their turn to dump on Core's chain. But I doubt they will because they are not as crazy as Mircea is.

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March 21, 2017, 04:25:12 AM
 #24

I'm assuming if there is dumping on both chains it would counteract each other. When the value of one chain drops, the value of the other would rise I would imagine. Although I'm unsure of how prices will react. Will the value of BTC instantly split into 2? Instead of having 1 coin valued at around $1000, you now have 2 coins (1 on each chain) valued at $500? It will definitely be a crazy ride seeing what will happen.

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Majormax
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March 21, 2017, 09:11:08 AM
 #25

I'm assuming if there is dumping on both chains it would counteract each other. When the value of one chain drops, the value of the other would rise I would imagine. Although I'm unsure of how prices will react. Will the value of BTC instantly split into 2? Instead of having 1 coin valued at around $1000, you know have 2 coins (1 on each chain) valued at $500? It will definitely be a crazy ride seeing what will happen.

Not easy to predict price, but , after an initial chaotic period, it will tend towards a balance where the relative price is proportional to total hashing power on each chain.

There are a number of reasons that this happens, which include reflexive feedback loops from traders.

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