Sell Bitcoin ahead of 1st Aug Hard Fork

[Minecache]

Also I'm not sure why you sold before 1st July or at least waited until after that date.

If you're not aware it is the date that Austrialia follows Japan in legalising BTC and removeing all Bitcoin taxes.

quite interesting mate, when this two countries already step up for this currency well i guess selling what you are holding is not a good idea, even there's speculation regarding to this  split up i think japan and australia already anticipated that possibilities and they will continue supporting this currency if there's a little downfall for sure support will show up back.

Not only that, from what I am hearing from my contacts in Australia that the 1st July date is slowing being ramped in the media and that there are a lot of buyers at the sidelines waiting for the taxes to be removed. If there ever was a time to sell this is most definetly not it. Unless you seriously needed the fiat of course.

[john2231]

Also I'm not sure why you sold before 1st July or at least waited until after that date.

If you're not aware it is the date that Austrialia follows Japan in legalising BTC and removeing all Bitcoin taxes.

quite interesting mate, when this two countries already step up for this currency well i guess selling what you are holding is not a good idea, even there's speculation regarding to this  split up i think japan and australia already anticipated that possibilities and they will continue supporting this currency if there's a little downfall for sure support will show up back.

Not only that, from what I am hearing from my contacts in Australia that the 1st July date is slowing being ramped in the media and that there are a lot of buyers at the sidelines waiting for the taxes to be removed. If there ever was a time to sell this is most definetly not it. Unless you seriously needed the fiat of course.

Many people are telling that bitcoin will be die soon after hard fork or activate segwit but they really don't know what actually the solution debate for miners fee.. 
The state of bitcoin these days was fine that i think its a normal growth if bitcoin will be hard fork in 1st of august it does it mean that you should sell your bitcoins you are just wasting and losing opportunity to make more profit..
The other people just saying that they are not thinking deeply or they are doing their job just to encourage other people to sell abd decrease the price of bitcoin because they want to buy bitcoin or other reason just to push other bitcoin user to go in altcoin.
So be smart guys bitcoin are just moving in a good path that i think better choices..
unlike other altcoin are selling something or start a  new ICO just to push other people to invest in ethereum to use it as token.. unlike bitcoin that have natural movement of the price..

[Weatherby]

I am not really spooked with the idea of fork,if there is a split in the network then i will have twice the coins in all the networks and even if they die off i do not mind but the main chain of bitcoin will always last and the journey of bitcoin continues,so i am not worried about the challenges it is going to face,waiting to see the best solution and eagerly waiting to see what the future holds for bitcoin.

[khufuking]

To be honest even if there will be a hard fork there is still no reason to sell BTC is going up steady and as others said with more countries accepting

it as legal currency it should get more ups just want to say it is like a roll and it started with one country accepting and should get them all to accept

now or later which will give BTC more value . Always holds your BTC unless you are in need for fiat that should be the rule 

[blockman]

I am not really spooked with the idea of fork,if there is a split in the network then i will have twice the coins in all the networks and even if they die off i do not mind but the main chain of bitcoin will always last and the journey of bitcoin continues,so i am not worried about the challenges it is going to face,waiting to see the best solution and eagerly waiting to see what the future holds for bitcoin.

So do I, bitcoin will still continue and the main one will always be preferred by most of us. That's why whatever happens on that day, I know that there is something good to happen. And we will even finally bitcoin get's up to $4k or even higher.

[wdnj]

Also I'm not sure why you sold before 1st July or at least waited until after that date.

If you're not aware it is the date that Austrialia follows Japan in legalising BTC and removeing all Bitcoin taxes.

This seems perfect, honestly, I didn't know that Australia is going to accept bitcoin as a legal currency and removing the taxes on bitcoin.
If this happens then I think that the price will get increased a bit but the split that OP is talking about I don;t  think will happen otherwise there will be a mess on all cryptocurrencies.

Well we all know exactly what happened to the price with Japan...

https://cointelegraph.com/news/bitcoin-to-become-just-like-money-in-australia-july-1

Bitcoin To Become ‘Just Like Money’ In Australia July 1
Australia has officially confirmed it will treat Bitcoin “just like money” from this year and it will no longer be subject to double taxation.

In its budget summary for 2017-18, the government states that as part of its plan to “make it easier” for digital currency businesses to operate in the country.

Completely understandable and I'm thinking which country is the next after Australia that is accepting the bitcoin as a legal currency.
This trend should continue and hopefully I believe that some other big and rich countries will start considering to accept bitcoin like the Australia will do.

[ladydark]

Quite the opposite. Many people are acquiring extra in anticipation of a coin split. You would then have coins on two networks!

This doesn't look like a good idea because: If we end up spliting the chain in two, the price will probably go down a lot on both chains. And it's also possible for people to lose its coins if they sell on one chain and buy in the one with lower amount of hash rate.

Most people are actually trading for altcoins to avoid any conflict in this period.

It's also possible that we won't need to do a hard fork in August 1st because miners are starting to work to activate Segwit2x before the this date. Maybe the chain won't need to split after all...

Definitely,chain split would cause bitcoin price to fall and its not good for bitcoin progress.Bitcoin market would once again become unstable.Altcoins would rise up once again in such situation.But hopefully,it would not occur because most miners are ready to implement segwit 2x.So,for sure,bitcoin price would rise once again.

[timerland]

Hi everyone,

I have recently sold a large part of my BTC  portfolio as I was spooked by a various sources telling me that BTC was heading for plummeting prices  following 1st Aug and hard fork.  They have also said that  July will be incredibly unstable in terms of price as we approach the deadline.  I a now sitting on cash and waiting for the best time t go back into BTC

Given that the price of BTC has risen every day this week and feeling that I sold unnecessarily and am considering buying back in.  can you feedback to me.

1) Is the 1st Aug really going to be that bad and should we expect volatility in July as we approach the date?
2)  Would you buy back in now or wait sitting on cash for a better price entry point in the coming weeks?

Thanks all

Matt

Your question is really good. I personally think that the potential activation of segwit is going to benefit the bitcoin network, although the aspect of a hard fork on that day or soon after that date is pretty daunting to most bitcoin users as well.

To answer your questions:

1. I don't think it'll be that bad. Even if a hard fork happens if you hold your own private keys you are going to get coins on both chains that have forked(bitcoin core and bitcoin unlimited), so therefore, bitcoin value is probably going to stay the same when you add the two together. Still though, it could bring some negative news to bitcoin as there is no consensus anymore of which bitcoin is which, as the battle is pretty close when looking at miners but not so close when looking at nodes.

2. I'll sell 70%, and hold 30%. Right now bitcoin is retesting 3000 which means that if you dont' hold at least some you might lose out on some profits.

[Netnox]

Mark my words. Nothing is going to happen on August 1, if SegWit reaches 80% consensus. Most of those who were prone to selling have already done that. There will be no massive sell-off before August 1, and on the other hand, there will be a sharp spike in the exchange rates. IMO, this is the last opportunity to purchase BTC at sub-3,000 levels.

[Wind_FURY]

Hi everyone,

I have recently sold a large part of my BTC  portfolio as I was spooked by a various sources telling me that BTC was heading for plummeting prices  following 1st Aug and hard fork.  They have also said that  July will be incredibly unstable in terms of price as we approach the deadline.  I a now sitting on cash and waiting for the best time t go back into BTC

Given that the price of BTC has risen every day this week and feeling that I sold unnecessarily and am considering buying back in.  can you feedback to me.

1) Is the 1st Aug really going to be that bad and should we expect volatility in July as we approach the date?
2)  Would you buy back in now or wait sitting on cash for a better price entry point in the coming weeks?

Thanks all

Matt

Quite the opposite. Many people are acquiring extra in anticipation of a coin split. You would then have coins on two networks!

This. But the problem now would be which "Bitcoin" to dump on August 1? Are you for the legacy chain or for the BIP 148 chain? Your ideals do not matter here, making the right decision is.

I will hold on both for a while to be safe.

[Denker]

Hi everyone,

I have recently sold a large part of my BTC  portfolio as I was spooked by a various sources telling me that BTC was heading for plummeting prices  following 1st Aug and hard fork.  They have also said that  July will be incredibly unstable in terms of price as we approach the deadline.  I a now sitting on cash and waiting for the best time t go back into BTC

Given that the price of BTC has risen every day this week and feeling that I sold unnecessarily and am considering buying back in.  can you feedback to me.

1) Is the 1st Aug really going to be that bad and should we expect volatility in July as we approach the date?
2)  Would you buy back in now or wait sitting on cash for a better price entry point in the coming weeks?

Thanks all

Matt

I would say you got fooled!
If you would follow closely what is going on at the moment in the space you would know the chance to go up the next few weeks, especially August 1st is much higher than going down!
Segregated Witness will get activated until August 1st. Miners can nothing do against that. And with SegWit many more important implementations, especially for scaling will be possible.
So the fundamentals are looking pretty good, no matter what kind of FUD some may spread. And you fall for it.
Sorry to say this but I'm pretty sure you've made the wrong decision!

EDIT: And if a split later should happen due to the HF some are trying to do, there is a chance that both chains could survive. In that case you would twice as much coins. Another reason imo why people will buy more coins instead of selling them.

[mike4001]

Hi everyone,

I have recently sold a large part of my BTC  portfolio as I was spooked by a various sources telling me that BTC was heading for plummeting prices  following 1st Aug and hard fork.  They have also said that  July will be incredibly unstable in terms of price as we approach the deadline.  I a now sitting on cash and waiting for the best time t go back into BTC

Given that the price of BTC has risen every day this week and feeling that I sold unnecessarily and am considering buying back in.  can you feedback to me.

1) Is the 1st Aug really going to be that bad and should we expect volatility in July as we approach the date?
2)  Would you buy back in now or wait sitting on cash for a better price entry point in the coming weeks?

Thanks all

Matt

I would say you got fooled!
If you would follow closely what is going on at the moment in the space you would know the chance to go up the next few weeks, especially August 1st is much higher than going down!
Segregated Witness will get activated until August 1st. Miners can nothing do against that. And with SegWit many more important implementations, especially for scaling will be possible.
So the fundamentals are looking pretty good, no matter what kind of FUD some may spread. And you fall for it.
Sorry to say this but I'm pretty sure you've made the wrong decision!

EDIT: And if a split later should happen due to the HF some are trying to do, there is a chance that both chains could survive. In that case you would twice as much coins. Another reason imo why people will buy more coins instead of selling them.

Actually it looks like that Miners will activate Segwit before August 1st themselves

[magneto]

Hi everyone,

I have recently sold a large part of my BTC  portfolio as I was spooked by a various sources telling me that BTC was heading for plummeting prices  following 1st Aug and hard fork.  They have also said that  July will be incredibly unstable in terms of price as we approach the deadline.  I a now sitting on cash and waiting for the best time t go back into BTC

Given that the price of BTC has risen every day this week and feeling that I sold unnecessarily and am considering buying back in.  can you feedback to me.

1) Is the 1st Aug really going to be that bad and should we expect volatility in July as we approach the date?
2)  Would you buy back in now or wait sitting on cash for a better price entry point in the coming weeks?

Thanks all

Matt

1) You shouldn't worry too much about it, as long as you hold your bitcoins on an exchange where they will credit you with both BCC(bitcoin core tokens) and BTU( bitcoin unlimited tokens) then you'll be covered. Otherwise, just hold your own bitcoin private keys(which is probably the most secure option as well) and you'll be credited both tokens as well.

Will price crash? I don't know, personally i think it will probably adjust after the UASF. But how much it adjustts and whether it's up or down, nobody really knows.

2) I would sit on my cash for now.

[MMysterious]

I think whether bitcoin will split or not, those who are bitcoin holders should still hold on to their btc's instead of selling them. I'm not at least worried about the split for I will HODL for as long as it takes.

[Creepings]

Thanks all

The price is now pretty much what I sold at a few weeks ago - do you think I should buy all back in that case?

I think that is great that you have reassured your profit. If you want to invest your money to bitcoin again, I think you need to wait after the fork or network splitting. There is a huge possibility that the price of bitcoin will dump back to $1000. But after that it is obvious that it will pump back to $2000 and may break the $3000 price wall. Wait for a good price to buy bitcoin again.

[1Referee]

To be honest even if there will be a hard fork there is still no reason to sell BTC

In reality there indeed isn't an urgent need to cash out any of your coins in such situation, but people here just love to speculate. Some will use altcoins to hedge Bitcoin in the hope that if Bitcoin is going to tank real hard, that these altcoins will function as temporary safe haven. And others just see it as a great opportunity to increase the number of coins that they have by selling at current levels, and buying back lower afterwards. It's a massive risk that they expose themselves to, because 1) there is absolutely no guarantee that Bitcoin will fork unsuccessfully, and 2) there is also no guarantee that altcoins won't get taken down as well. Reality is that the chances for an unsuccessful hard fork to happen has gone down even more now Segwit2x is close to activating.

[Rahar02]

Hi everyone,

I have recently sold a large part of my BTC  portfolio as I was spooked by a various sources telling me that BTC was heading for plummeting prices  following 1st Aug and hard fork.  They have also said that  July will be incredibly unstable in terms of price as we approach the deadline.  I a now sitting on cash and waiting for the best time t go back into BTC

Given that the price of BTC has risen every day this week and feeling that I sold unnecessarily and am considering buying back in.  can you feedback to me.

1) Is the 1st Aug really going to be that bad and should we expect volatility in July as we approach the date?
2)  Would you buy back in now or wait sitting on cash for a better price entry point in the coming weeks?

Thanks all

Matt

Well, good move as precaution act if I may say to have cash in order to buy back after that time. But, how if bitcoin price increase at that time (in July)?
If I don't misunderstand, hard fork and bitcoin split into two different coins then people who holding bitcoin should get those two coins as well, as long as you don't store it on an exchange. I don't really mind to hold my bitcoin on wallet instead of convert it into cash, fiat money always worth slightly less (due to inflation) and bitcoin vice versa.

[Minecache]

BTC surging upwards. All alts falling. The market likes the SegWit news.

[Question123]

We dont know what happen in the bitcoin price after august 1 . But I hope the price will be okay and the price will increase on that day.  Dont be panic . I suggest to buy more bitcoin because the price is continue increasing and for sure you will earn a lot of profit after that. But it depends to you if you want to buy or not but I will remind you invest only you can afford to lose. Goodluck I hope august 1 will not a bad news.

[BiteMyShinyMetalAss]

What about all the ICO owners cashing out ETH to BTC to FIAT?