Bitcoin holders, are you diversifying in case the fork proves catastrophic

[Holliday]

No. In case you haven't noticed, Bitcoin has been facing "imminent catastrophe" on a regular basis for years now, and it has actually "died" many times!

It will continue to face "imminent catastrophe" for decades to come, until it's no longer a disruptive technology.

What we are often seeing are games designed to separate users from their Bitcoins.

[1715352891]

1715352891

[1715352891]

1715352891

[1715352891]

1715352891

[lite]

No i'm not diversifying, even if the fork happens i'll still have my coins exchanged/will be converted 1:1 right? the price recovery might take some time though, i'm a holder will not sell cheap lol.

[Vaccinus]

no bitcoin is the king for me man, all other alt are increasing my bitcoin wallet, that why they are used for, but i like to hold some other good coin like ethereum and zcash, just in case, still the standard the fact remain bitcoin

[Mometaskers]

I still haven't touched my rather paltry stash of bitcoin. I'm in a rush to learn more about the tech though because of the threat of my heap becoming useless. For example I'm trying to wrap my head around that detail that they say that we'd end up with coins on 2 different chains. Never been a tech-savvy person and just entered into this because I've heard that there's profit to be made by holding the coins. Well, look like my bubble bursted.

[ebliever]

Since March 10, I've gone from 25% altcoins and 75% Bitcoin, to 78% altcoins and 22% Bitcoin. As a result I've gained 13% while Bitcoin has dropped a good bit more than that. I've split my Bitcoin funds between Ethereum, Dash, Monero and Zcash.

I don't see any near-term hope for Bitcoin. ETF's are out of the question. Merchants are dropping out or cutting back because of the fee situation. Any news of merchant or other user adoption would just mean even worse TX fees anyway! Segwit adoption of 95% is completely unfathomable. The only real question for now is whether the Core/BU impasse will continue, or whether BU will fork and initiate an ugly conflict. Meanwhile there will continue to be positive news of increased adoption and merchant services and so forth among the major alts.

So I feel much safer HODLing with my new portfolio than risking going back into Bitcoin in a big way. What scenario can anyone offer that leads to gains in the near term? A massive spike in clueless investors who don't know what's going on and are happy the ETF was rejected? I mean, come on...

[OROBTC]

I have deiversified since the beginning.

It is never smart to hold all your eggs in one basket. Regarding crypto this means it is spread across several altcoins I think are promising. In general, this means I also hold a normal savings account and an investment account for stocks and investment funds.

I hold gold as my "alt-investment".  Hear you re diversification.

So far I have not decided to hold any Altcoins because I have not had the inclination to go look at any.  My feelings may change if the BTC Civil War keeps going on.

[The Sceptical Chymist]

Is anyone using their btc to buy cars or houses in case the BU fork hits bitcoin hard?

Maybe converting btc to fiat or another crypto?

If you held bitcoin, how would you diversify your holdings to keep them safe in the event the hard fork forks things up?

 

I have no diversified investment since my bitcoins were only in a handful amount.

Ditto.  I think I own less than 0.01BTC at the moment, and I'm comfortable with that.  I don't know anything about this forking, and most of the technical stuff with bitcoin is far above my head.  As for the diversification, most of my dough is in the stock market at the moment and I only own a handful of stocks.  It's a great concept, but when you only have a little money to play around with, it's pretty meaningless.

[LeGaulois]

I myself decided to diversify with other(s) altcoins despite the fact i have always say bitcoin and nothing else. For this i have make the choice to go with monero. Even if people may think there are some others altcoins with a potential to be better than monero, i am looking for a medium term plan and from now monero is the only one that attracted me, but as i have a limited interest with altcoins so i don't know a lot about them

[joshy23]

I myself decided to diversify with other(s) altcoins despite the fact i have always say bitcoin and nothing else. For this i have make the choice to go with monero. Even if people may think there are some others altcoins with a potential to be better than monero, i am looking for a medium term plan and from now monero is the only one that attracted me, but as i have a limited interest with altcoins so i don't know a lot about them

Recently, ETH and Monero "offered" as a good alt-coin to bitcoin. But I don't think it would not a good idea for me to diversified my bitcoin because I still believe that the effect of Civil War between BU and Core will not affect the bitcoin ecosystem. Then can have they own coin and call it whatever they want, and for those who wish to stay with bitcoin, will stay, otherwise go to that alt-coin and hope for the best and see what the future holds for you there.

[aardvark15]

Is anyone using their btc to buy cars or houses in case the BU fork hits bitcoin hard?

Maybe converting btc to fiat or another crypto?

If you held bitcoin, how would you diversify your holdings to keep them safe in the event the hard fork forks things up?

 

I have no diversified investment since my bitcoins were only in a handful amount. What I did was to convert it to our local cash and if another price drop occurs I will convert it back to bitcoins. But sad to say instead of bitcoin going down it spiked up a bit. I was sad but I was also happy since bitcoin has recovered its value slowly. But just like me other bitcoin investors have shifted into Ethereum and DASH due to fear of bitcoin crash.

I guess you are correct that this is the cause of the increase in value of Etherium and Dash. But Bitcoin has surged back up in price lately. I sold much of my Bitcoin when it went past $1200. Maybe that was a good idea.

[vnvizow]

Catastrophic for which side to a trader's eye it's all good. Higher risk = higher reward. No need to diversify, fiat is a good way to hold out. Grab a cold pint and wait for this to blow over.

[cjmoles]

Is anyone using their btc to buy cars or houses in case the BU fork hits bitcoin hard?

Maybe converting btc to fiat or another crypto?

If you held bitcoin, how would you diversify your holdings to keep them safe in the event the hard fork forks things up?

 

I'm actually doing the opposite because if a fork occurs I will have coin on both chains.  I see this as more of an opportunity to double my investment then anything....I've been moving out of the altcoins and slowly getting my coin off of the exchanges and into bitcoin addresses that I control.  I'm getting ready for it!

[Technicality]

I don't think that diversification is necessary as long as you don't have absolutely all of your funds in Bitcoin.

Bitcoin's value will be safe enough that it won't completely collapse to 0.  I think that the more the value falls from the fork, the more that I'll buy because I know that Bitcoin is still great and will always be appreciated for what it is.

[Technicality]

I have deiversified since the beginning.

It is never smart to hold all your eggs in one basket. Regarding crypto this means it is spread across several altcoins I think are promising. In general, this means I also hold a normal savings account and an investment account for stocks and investment funds.

I hold gold as my "alt-investment".  Hear you re diversification.

So far I have not decided to hold any Altcoins because I have not had the inclination to go look at any.  My feelings may change if the BTC Civil War keeps going on.

To be honest I don't think that any specific alts are reliable enough to warrant a serious investment.  There's Ethereum but that's pretty centralised and I'm not sure I would trust that people would use it who are techy or clever Bitcoin users.

[aardvark15]

Is anyone using their btc to buy cars or houses in case the BU fork hits bitcoin hard?

Maybe converting btc to fiat or another crypto?

If you held bitcoin, how would you diversify your holdings to keep them safe in the event the hard fork forks things up?

 

I'm actually doing the opposite because if a fork occurs I will have coin on both chains.  I see this as more of an opportunity to double my investment then anything....I've been moving out of the altcoins and slowly getting my coin off of the exchanges and into bitcoin addresses that I control.  I'm getting ready for it!

On another topic, someone said that with the Etherium fork, Coinbase didn't let customers keep coins on both chains. Do you know if that was true, and could other exchanges do the same thing for Bitcoin. I have to admit, I'm not sure I fully understand how that works. Can someone elaborate?

[machinek20]

Watching bitcoin hardfork is a nightmare, if bitcoin fork really happened, it will lose a lot of supporters and it will cause a big impact on the price and trust issue, if hard fork is happen then it will be either people wait for a long recover or people will leave bitcoin forever and it is a risky choice

[gentlemand]

Anyone who thinks buying an alt qualifies as diversifying is batty. It's an even more insane gamble on a gamble that was insane already. And if you hang on to your BTC you get just as much of a free alt too which'll have a ready made gargantuan and ravenously hungry market.

[Rinder]

Well isnt a easy step to take, but some of the traders are with their bitcoins over altcoins, just looks dash and some others altcoins market, its a sensible moment to bitcoin, because spliting bitcoin should damage the real concetp ot it, anyway pretty sure some investors arent waiting to what will happen over bitcoin.

[mr.mister]

I personally have not seen any data that suggests that any of the alt coins are going to be doing any heavy trending upwards, hence, I am staying with btc, but I will invest in a few of the alts, maybe lite coin, etherum, dash, zek, and monero, I'll just keep watching them daily to see what happens with them.

[Yuuto]

Is anyone using their btc to buy cars or houses in case the BU fork hits bitcoin hard?

Maybe converting btc to fiat or another crypto?

If you held bitcoin, how would you diversify your holdings to keep them safe in the event the hard fork forks things up?

 

For me I am definitely going to diversify. I am really not sure what is going to happen and i highly doubt anyone knows what is going to happen in the future.

The best thing to do is to spread out your wealth in several different assets, especially if you have high stakes in bitcoin currently.

I would hedge against the hard fork by buying into gold and silver, keeping a small portion of bitcoin in cold storage, buy into some alt coins as when the fork happens alt coins are probably going to rise in price. Converting some bitcoins into fiat could also work, it all depends on you though.