Switch to ETH before possible hard fork

[Tizzle87]

Hi

I am newly invested in bitcoin. I am not a trader or interested in any short term gains but rather plan to hold on to btc for many years. However, all the talk about a hard fork is scaring me a bit and I am thinking about going all into ETH prior to August 1.

Would a hard fork only hurt BTC or would it also negatively affect ETH and other coins?

[lizardbtc]

Hi

I am newly invested in bitcoin. I am not a trader or interested in any short term gains but rather plan to hold on to btc for many years. However, all the talk about a hard fork is scaring me a bit and I am thinking about going all into ETH prior to August 1.

Would a hard fork only hurt BTC or would it also negatively affect ETH and other coins?

First of all it is not indented to be a hard fork.

UASF - User Activated Soft Fork , here soft fork activates on the 1st of August and nodes need to activate it.  If some miners opt to not use BIP148 and continue to mine on the older version chain could split.

Bitmain , the most hard opponent of the SegWit wants to try to do a hard fork because they don't support SegWit more info : https://blog.bitmain.com/en/uahf-contingency-plan-uasf-bip148/

I say that things can get ugly, yes thats invitable however if everything works out as planned BTC should start to recover because after that period of unceranty we will have that network can proccess more transactions, not right after when SegWit activates.

You could switch to ETH, although ETHs price is backed up by BTCs price, if more people do like you, want to switch to ETH then it should boost the ETH price. On the other hand when Bitcoin starts to dump hard because of uncertainty it could pull ETH down as well with it. You never know what will happen.

ETH is also traded for fiat on some Asian exchanges as well as some of the US, take coinbase for instance. So it doesn't need to relay on bitcoin much, people can lose "faith" when they see btc dumping. I expect most alts to dump alongside with BTC.

But if you are looking for a long term lets say 1 year from now or even longer I think that you shouldn't wory about USAF.

Do your own research on this matter as I and other guys here can just speculate what will happen, you can also speculate. But no one knows  for sure how it all will roll out.

[Sniper44]

bitcoin fork:
lots of talk, planning, coming up on agreements, consensus, trying to reach majority support. a lot of testing of any new implementation on testnet, reviewing the code, ....

ethereum fork:
vitalik decides it is a good idea to fork > clicks a button > ethereum is forked.
code: has a lot of bugs
exploit: has happened a lot

it is up to you to decide you want to risk another ethereum hack and fork. we can't make decisions for your money

also a good read: https://medium.com/@WhalePanda/i-was-wrong-about-ethereum-804c9a906d36

[Sergejnoob]

You shouldn't wory about USAF. Just get your BTCS off the exchanges. Grab your privat keys.




PS: Fuck Bitmain.

[lizardbtc]

ethereum fork:
vitalik decides it is a good idea to fork > clicks a button > ethereum is forked.
code: has a lot of bugs
exploit: has happened a lot

When it is centralized in a way yes they can do whatever they want. Bitcoin is more decentralized thats why we have a problem to decide what to do, since there are parties that have huge impact on the bitcoin, but still they can't simply change something. Satoshi disappeared , he didn't wanted to be responsible for bitcoins faith he wanted it to be decentralized. Maybe BTC could have some kind of nodes voting and the protocol that has over 50% votes win or something...

Anyway  here is another problem with ETH and it's ICOs, ETH is doing DDOS because of huge traffic on it's own network : https://motherboard.vice.com/en_us/article/the-ethereum-network-is-ddos-ing-itself

Some people think that centralization is good because some governments might accept them as currencies  and they think thats better for crypto currency for mass adoption. Others think that crypto currency shouldn't be centralized as bitcoin wasn't made to be. Only time will tell.

There isn't crypto currency that is perfect, everyone of them has their weaknesses as well as some good sides.

[HardFireMiner]

Lol, switch from the father of crypto currencies & first DECENTRALIZED crypto to a 85% premined CENTRALIZED crypto, well that would be retarded, to say it in a nice way.

[Inmydomain]

Ethereum price has been so tied to Bitcoin in the past, any attempts to reduce risk by switching would seem misguided

[Denker]

Hi

I am newly invested in bitcoin. I am not a trader or interested in any short term gains but rather plan to hold on to btc for many years. However, all the talk about a hard fork is scaring me a bit and I am thinking about going all into ETH prior to August 1.

Would a hard fork only hurt BTC or would it also negatively affect ETH and other coins?

Sorry but can not take you serious! And I hope others do not as well!
You say you're new in this space and your first "advice" and thread you make here is to recommend people to buy something what is very likely the biggest scam we've seen in the crypto space so far. By the way extremely centralized, controlled, highl inflated, mutable and in terms of it's up and downs correlated to Bitcoin!

Furthermore there won't be any hardfork in Bitcoin in August!
Jihan is just talking as usual. If you buy this crap he is making up you're totally dumb!
But weak hands are welcome to leave! Your sold coins will be mine. Thx!

[moooonu]

If you are planning on holding on long term lets say more than 1 year then it don't matter both's price will go up with time as the issues gets resolved. However changing to ETH won't gurantee that its price won't go down with BTC price.

[CyberKuro]

Hi

I am newly invested in bitcoin. I am not a trader or interested in any short term gains but rather plan to hold on to btc for many years. However, all the talk about a hard fork is scaring me a bit and I am thinking about going all into ETH prior to August 1.

Would a hard fork only hurt BTC or would it also negatively affect ETH and other coins?

I won't do such dangerous decision, bitcoin still the best cryptocurrency so far even with its common problems.
Ethereum still not reach $500 or $1000 but I ever heard it has same problems with bitcoin, whether it is true or not.
Bitcoin is a better coin compare to ethereum if you ask me, but with ethereum potential, it may keep increasing in the future.
So, put your money on both of it if you don't want to miss the chance if one of it rising faster than another.

[benthach]

bitcoin fork:
lots of talk, planning, coming up on agreements, consensus, trying to reach majority support. a lot of testing of any new implementation on testnet, reviewing the code, ....

ethereum fork:
vitalik decides it is a good idea to fork > clicks a button > ethereum is forked.
code: has a lot of bugs
exploit: has happened a lot

it is up to you to decide you want to risk another ethereum hack and fork. we can't make decisions for your money

also a good read: https://medium.com/@WhalePanda/i-was-wrong-about-ethereum-804c9a906d36

yep, eth is pretty much a centalized bloat bug pyramid freak scam, ARK will solves all the scale, bloat issue and it is decentralized.

if bitcoin hard fork and split it will only be a win-win for bitcoin holders, now one bitcoin become two then the pump will pump hard as both will try to out do each others with marketcap. it would probably best time to dump the freak scam eth trash now if this bitcoin will do the hard fork. these eth spam freaks here on bitcointalk are freaking annoying! go to your ethotokenpyramidscamplatformtalk.org

[Chin Cheng]

bitcoin fork:
lots of talk, planning, coming up on agreements, consensus, trying to reach majority support. a lot of testing of any new implementation on testnet, reviewing the code, ....
ethereum fork:
vitalik decides it is a good idea to fork > clicks a button > ethereum is forked.
code: has a lot of bugs
exploit: has happened a lot

That is a very good point,Vitalik single handidly decided to hard fork ETH and there we go,we have two coins and so is the reason we call them centralized token system,@OP just make up your decision on whether to invest in a decentralized currency or put your money in a centralized environment where anything is possible.

[Emoclaw]

Hold your BTC. If the hard fork goes the worst possible way then there will be 2 blockchains and you will have coins on both of them. Maybe they will both be valued half of what Bitcoin was, but the price will increase on both of them, meaning that you'll ultimately have gains.
If it goes well, then the value of the one true Bitcoin will increase substantially due to the fact that a major roadblock will have been surpassed.

[bearex]

BTC dominance is dropping, the difference between ETH and BTC market cap is smaller each day. It appears more and more people are getting into ETH, it is also, like you mentioned, a reasonable decision, if you fear the future of BTC because of the fork.
I would suggest changing your BTCs to ETHs for sure.

[benthach]

Hold your BTC. If the hard fork goes the worst possible way then there will be 2 blockchains and you will have coins on both of them. Maybe they will both be valued half of what Bitcoin was, but the price will increase on both of them, meaning that you'll ultimately have gains.
If it goes well, then the value of the one true Bitcoin will increase substantially due to the fact that a major roadblock will have been surpassed.

This is perfect answer and perfect thinking

[Sergejnoob]

Hold your BTC. If the hard fork goes the worst possible way then there will be 2 blockchains and you will have coins on both of them. Maybe they will both be valued half of what Bitcoin was, but the price will increase on both of them, meaning that you'll ultimately have gains.
If it goes well, then the value of the one true Bitcoin will increase substantially due to the fact that a major roadblock will have been surpassed.

Word.

[xhienigat]

Hold your BTC. If the hard fork goes the worst possible way then there will be 2 blockchains and you will have coins on both of them. Maybe they will both be valued half of what Bitcoin was, but the price will increase on both of them, meaning that you'll ultimately have gains.
If it goes well, then the value of the one true Bitcoin will increase substantially due to the fact that a major roadblock will have been surpassed.

I totally agree, don't be afraid of the possible hard fork. For sure bitcoin will still increase no matter how deep it will fall, just hold on to your bitcoin.

[BTCLovingDude]

first things first: what possible hard fork? and why do you even fear a hard fork? do you even know what it is?
a hard fork is just a term used for projects when they (to put simply) add an upgrade, and that is what bitcoin plans on doing (one route is that at least, the other is soft fork). and there is no fear in a hard fork if it is done correctly and all the debates and all the postponing is done to do it correctly and with least amount of risk.

as for your decision. you are choosing an altcoin that has a higher chance of doing a hard fork. an altcoin that has already had 5 forks which 1 of them led to a big network split and lots of money lost.
and there is no guarantee that another one of these current ICOs don't do the same thing as DAO did.

[btcbug]

As others are saying, don't worry too much about it.

If you were to move out of BTC temporarily though, please for the love of God, do not look at ETH as some sort of safe-haven!

ETH may have value, dont' get me wrong, but it is not a store of value or currency. It's a highly speculative token on a DApps platform, that has already shown it's untrustworthy as fuck. Please read about the DAO incident if you haven't.

On top of that, if you're worried about BTC taking a big hit over scaling fears, how are you not concerned with ETH taking a bit hit since it's gone up 40X in the past few months?

If you're looking to the preserve your wealth in USD terms, the only coin right now worth sitting in for a while would be LTC. Right now it is very stable relatively speaking.

[Sumo]

Don't you have to hold the btc to get the free btc classic coins?