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Author Topic: 1st August questions - can you invest safely?  (Read 1587 times)
Alphaz841x
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July 08, 2017, 07:07:59 AM
 #1

So im looking to invest into bitcoin and because it's hard to determine whether price will drop or raise after 1st of August i have decided to invest a certain percent now, and the rest after 1st of August.
Is it safe to buy Bitcoins right now, and by safe i mean - in case of a fork, i have read some things about a chain being completely neglected as if it never happened. Am i safe to buy my BTC now and send them to my storage or is there a possibility in which that transaction becomes "neglected as it never happened" and the btc will disappear from my wallet?
Is it safe to purchase Bitcoins after 1st of August or once a fork happens? Any catches or things i should be looking at?

Just don't want to screw myself over because of my lack of knowledge. Appreciate all replies!
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July 08, 2017, 07:13:01 AM
 #2

This article should help:
https://bitcoinmagazine.com/articles/countdown-segwit-these-are-dates-keep-eye/

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July 08, 2017, 07:38:25 AM
 #3

So im looking to invest into bitcoin and because it's hard to determine whether price will drop or raise after 1st of August i have decided to invest a certain percent now, and the rest after 1st of August.
Is it safe to buy Bitcoins right now, and by safe i mean - in case of a fork, i have read some things about a chain being completely neglected as if it never happened. Am i safe to buy my BTC now and send them to my storage or is there a possibility in which that transaction becomes "neglected as it never happened" and the btc will disappear from my wallet?
Is it safe to purchase Bitcoins after 1st of August or once a fork happens? Any catches or things i should be looking at?

Just don't want to screw myself over because of my lack of knowledge. Appreciate all replies!
There are currently more than 16M Bitcoins in circulation OP, what do you think? hard fork or not, you buying and investing or not, once coins are generated and later on transferred then included in blockchain they will remain there for ever. there is no neglecting transactions, what kind of an idiot says that?

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July 08, 2017, 07:57:20 AM
 #4

So im looking to invest into bitcoin and because it's hard to determine whether price will drop or raise after 1st of August i have decided to invest a certain percent now, and the rest after 1st of August.
Is it safe to buy Bitcoins right now, and by safe i mean - in case of a fork, i have read some things about a chain being completely neglected as if it never happened. Am i safe to buy my BTC now and send them to my storage or is there a possibility in which that transaction becomes "neglected as it never happened" and the btc will disappear from my wallet?
Is it safe to purchase Bitcoins after 1st of August or once a fork happens? Any catches or things i should be looking at?

Just don't want to screw myself over because of my lack of knowledge. Appreciate all replies!
There are currently more than 16M Bitcoins in circulation OP, what do you think? hard fork or not, you buying and investing or not, once coins are generated and later on transferred then included in blockchain they will remain there for ever. there is no neglecting transactions, what kind of an idiot says that?

I've simply read these things on another website and since i have no idea if they are true i decided to ask people around. Investing big amounts should not be done on a whim and i wanted to prepare and make sure it's completely safe before i put my money in. Really, no need to be passive-aggressive about that - either way thanks for the answer, just wanted to make sure.
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July 08, 2017, 08:18:23 AM
 #5

So im looking to invest into bitcoin and because it's hard to determine whether price will drop or raise after 1st of August i have decided to invest a certain percent now, and the rest after 1st of August.
Is it safe to buy Bitcoins right now, and by safe i mean - in case of a fork, i have read some things about a chain being completely neglected as if it never happened. Am i safe to buy my BTC now and send them to my storage or is there a possibility in which that transaction becomes "neglected as it never happened" and the btc will disappear from my wallet?
Is it safe to purchase Bitcoins after 1st of August or once a fork happens? Any catches or things i should be looking at?

Just don't want to screw myself over because of my lack of knowledge. Appreciate all replies!
There are currently more than 16M Bitcoins in circulation OP, what do you think? hard fork or not, you buying and investing or not, once coins are generated and later on transferred then included in blockchain they will remain there for ever. there is no neglecting transactions, what kind of an idiot says that?

I've simply read these things on another website and since i have no idea if they are true i decided to ask people around. Investing big amounts should not be done on a whim and i wanted to prepare and make sure it's completely safe before i put my money in. Really, no need to be passive-aggressive about that - either way thanks for the answer, just wanted to make sure.
I would like to ask if there is a trading platform
Is willing to be on August 1 for the user's BTC token
The resulting hard and soft crossover may become two BTC tokens

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July 08, 2017, 08:50:42 AM
 #6

I've simply read these things on another website and since i have no idea if they are true i decided to ask people around. Investing big amounts should not be done on a whim and i wanted to prepare and make sure it's completely safe before i put my money in. Really, no need to be passive-aggressive about that - either way thanks for the answer, just wanted to make sure.
It's not about being passive whatever lol, it's about detecting bull shit and stop it from spreading, what you are saying or worrying about is kind of the whole thing isn't it? whether or not should you or any body else invest now or waits a few more months? if you think that after you bought your Bitcoins there is a possibility for them to vanish and completely disappear that means $40B potential investment is based on such a lousy system that could simply neglect people's coins?
Try bitfinex.

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July 08, 2017, 08:47:13 PM
 #7

So im looking to invest into bitcoin and because it's hard to determine whether price will drop or raise after 1st of August i have decided to invest a certain percent now, and the rest after 1st of August.
Is it safe to buy Bitcoins right now, and by safe i mean - in case of a fork, i have read some things about a chain being completely neglected as if it never happened. Am i safe to buy my BTC now and send them to my storage or is there a possibility in which that transaction becomes "neglected as it never happened" and the btc will disappear from my wallet?
Is it safe to purchase Bitcoins after 1st of August or once a fork happens? Any catches or things i should be looking at?

Just don't want to screw myself over because of my lack of knowledge. Appreciate all replies!
It is safe to buy bitcoin now even if a fork were to happen because even if there would be a split in chain, we all would have the same amount of bitcoins in the two chains so there's no need to worry about losing bitcoin you just need to store them in a bitcoin wallet that you own and currently controls a private key. Transactions would never become neglected as it never happened because a transaction is forever saved in the blockchain records so it is safe to purchase bitcoin now if you want to.

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July 09, 2017, 05:11:36 AM
 #8

So im looking to invest into bitcoin and because it's hard to determine whether price will drop or raise after 1st of August i have decided to invest a certain percent now, and the rest after 1st of August.
Good decision, always keep 50% in fiat to buy back cheap bitcoins.

Is it safe to buy Bitcoins right now, and by safe i mean - in case of a fork, i have read some things about a chain being completely neglected as if it never happened. Am i safe to buy my BTC now and send them to my storage or is there a possibility in which that transaction becomes "neglected as it never happened" and the btc will disappear from my wallet?
It is safe to buy bitcoins right now but you have to keep them in electrum like wallet which provide you private keys of your bitcoin address so that you can have coins in both chain in case of hard fork.

Is it safe to purchase Bitcoins after 1st of August or once a fork happens? Any catches or things i should be looking at?
If there will be hardfork which is quite uncertain right now, you will be able to buy two types of bitcoin one with small community support and another one with majority of miners support.



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July 09, 2017, 07:37:11 PM
 #9

I've really no idea myself. But I am confident that everyone's going to want to minimise disruption. No one wins with chain splits no matter what side they're on. There will no doubt be plenty of price action. Traders never turn down the opportunity to give noobs the willies.

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July 09, 2017, 08:14:31 PM
 #10

Maybe everything will just go perfectly smooth and the price will simply moon. In fact that's what I expect/hope.

But if you are expecting some trouble the best you could do is:

1- Transfer any BTC to an external wallet you control (preferably a hardware wallet but that's irrelevant in this case).
2- Close all leveraged positions as extreme volatility could cause very undesirable results.
3- Set up some extreme limit (with NO leveraging) orders to take some advantage of the potential extreme volatility in case it happens.

With that, you are ready to go and prepared for the worst.

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July 09, 2017, 08:47:17 PM
 #11

Main point of importance is that you keep all your coins off any exchange/service/gambling site/whatever. As long as that is the case, your coins are safe and thus nothing will happen to them. Important is that when you do end up buying yourself an x number of coins, that you are accepting the fact that the value may heavily fluctuate in both up and down directions. It's easy to hold your coins when the price goes up, but most people lose it when the price tanks heavily -- just make sure you don't end up dragging yourself down that way. The high level of volatility will be of short term, don't forget that. Smiley

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July 09, 2017, 08:53:13 PM
 #12

Eth had a fork in the past. It is nothing big. The best blockchain with the most user support will have a higher price and the other one will still live but going to have a lower price.
There might be some price drops on both chains all together but that might be seen as a buy opportunity to some people.

If you want to be %100 safe, stay with FIAT.
If you want to be %80 safe, buy bitcoins but keep them in your desktop wallet and don't connect to the internet.
If you want to be %50-20 safe, buy bitcoins and keep them on the exchanges.  Cool

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July 09, 2017, 09:05:19 PM
 #13

IMO the 1st August is gonna be a non-event because Segwit will be locked in before and a chain split will be avoided. The real question will be what will happen in November and the weeks leading up to the hard fork. So I guess you can invest safely now but should pay close attention from September on.

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July 10, 2017, 01:52:44 AM
 #14

Which will happen on August 1 we must be ready to face it. Therefore we must prepare from now what to do is seek information from now through a trusted network so that we can later control the bitcoin we have safely. Nor do we lose ourselves. Start looking for information on how to make our investment secure. I think it's all the very things that are needed

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July 10, 2017, 02:57:17 AM
 #15

There is lots of uncertainty. August 1st is bringing UASF and if SegWit2x get implemented before it successfully then we might see short term dip and bitcoin will recover eventually. But if SegWit2x doesn't happens before USAF, there might be a chaos and it would leads to a slighter long term dip. So, what you should preferably do is either hold your private keys and have patience ( for long term holder) or shift to another altcoin for a time ( short term holders) if you want your money in next 3-4 months. There might be a dip of even 30-40% because of panic selling. Some major Altcoins would rise with the devaluation of bitcoin. So it is all upon you. I would suggest don't buy right now.

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July 10, 2017, 03:02:17 AM
 #16


This same site said that Bitcoin Core is the most "trustless" program for bitcoin. But still Core is the first program for bitcoins to be developed, and is the one used by the majority of people who want to store bitcoins on their computers.

Most users won't activate anything, because there's no button to activate, they would have to use console commands and most people won't understand how to use them.

Majority of nodes using bitcoin-qt.exe plus majority of users not using console commands = new altcoin.


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July 10, 2017, 03:09:58 AM
 #17

Which will happen on August 1 we must be ready to face it. Therefore we must prepare from now what to do is seek information from now through a trusted network so that we can later control the bitcoin we have safely. Nor do we lose ourselves.

Wait what ??
You want a bitcoin that you later control ourselves ? What ?
Do you know what crypto is all about ?
It's about creating a currency that's is decentralized i.e: not controlled by anyone.

That's what we exactly don't want to happen.

And actually I think it's safer to cash out everything until we see what's gonna happen on august first.
Hopefully no hard fork or any thing serious.
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July 10, 2017, 05:26:37 AM
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OP, if you are investing large amounts of money then try to be safe with it and wait until August and see how the markets will be. To invest now and not care what happens next would be irresponsible.


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Amph
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Zabercoin – An Asset Backed Cryptocurrency


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July 10, 2017, 08:06:45 AM
 #19

i would wait and not investing on august until everything is set, , there is a chance of a dump, better to wait and have the possibility to buy cheaper coin

this happened with eth too at early after the fork there was a price decrease, well it was due to the fear of that ahcking, but also because of the fork

anyway if you are here of the longterm, who care what will happen in 1 month, bitcoin will not die, this is the only thing you need to know to buy safely

THE FUTURE OF
REAL ESTATE
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maokoto
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✪ NEXCHANGE | BTC, LTC, ETH & DOGE ✪


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July 10, 2017, 10:41:34 AM
 #20

I do not know for sure, but I remember something that could be similar.

When the halving was approaching not a lot of time ago, the price was somewhat good. There was uncertainty too: if halving happened and price remained as it was, miners would lower their earnings, they would hold the coins instead of selling. Price would rise.

Others said that price already have the halving discounted.... nothing would happen, and maybe miners would stop mining due to lack of profit.

At last halving came and price went up. Miners got their profit as usual, or more.

Thing is... there is lots of money at stake here. Those who are earning or generating a lot (miners, core developers, etc.) WILL protect their investment and always try that any change that happens is for good, not for bad. If segwit is what they decided, it is because they are going to profit from it. If it is not profitable per se, they will at the very least try it is.

I would say that investing now is a wise move.... but again, not 100% sure.


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