Price dump from a Bitcoin folk?

[Tyrantt]

I can pleace my money there there will be a huge dump at the end of july just from the whole fear of the uncertainty and the bitcoin price dropping after the 1st of Aug, then the price will go $3k+ in the next couple of weeks or even days.

I've never been so excited about anything as much as I'm excited to see what's going to happen in August.

[celested]

In a month, Segwit (BIP148) will be implemented on Bitcoin and many people are uncertain on what effect it would have on Bitcoin's price.  Maybe that is why the price of Bitcoin has been fluctuated, on the most part, between $2400 and $2800 for the last one month and not going higher despite of many positive and encouraging news that recently came out.  It is possible that after the Segwit implementation, Bitcoin may folk into two.  When that happened, it may cause confusing to the market. 

Question is, if folk happened, for those vendors who accept bitcoins, how are they going to manage accepting the two different coins?  For those who keep their coins in cold wallets, what would happen to the coins?  How does a Bitcoin platform, like Coinbase for example, manage its customers' deposited coins?  And the most important question is - would Bitcoin price drop in the short run or even in the long run due to the folk?

What do you think? 

Exactly, we are not sure about its results, so people are very worried about the future of bitcoin, a possible divide and the value of bitcoin will be drastically reduced. A lot of people are selling bitcoin and making its value fluctuate.

[xIIImaL]

I can pleace my money there there will be a huge dump at the end of july just from the whole fear of the uncertainty and the bitcoin price dropping after the 1st of Aug, then the price will go $3k+ in the next couple of weeks or even days.

I've never been so excited about anything as much as I'm excited to see what's going to happen in August.

However, it is not sure speculation right. If you see the price bump after August. We may happy to hold buddy. You can hold the bitcoin at any time. It will provide the 100% returns for your holdings. Only one head ache will be happen us. that is fees for mining, which will increase due to supply and demand.

[fynxms]

Cryptopocalypse incoming, buying cheap coins @$1200

[deisik]

If Bitcoin splits that might mark the end

.... Regarding coins in cold storage, they should be safe (and get doubled or tripled), but Coinbase is obviously a big no-no (we may see a massive exodus of bitcoins from every web wallet out there right before the Judgment day)

Hope the whole Bitcoin community will understand that and work together to prevent the fork to happen.

If one has 1 BTC in a cold wallet and if Bitcoin forked into two - BTC(A) and BTC(B), would it be so happened that after the split, the combination of (A) and (B) would be less than 1 BTC?

It is not quite clear what you mean

After the split you should have 1 BTC on the one chain and exactly 1 BTC on the other chain, so your total of what could still be loosely considered as Bitcoin would be equal to 2 bitcoins. In a sense, chain splitting doubles your bitcoins (or even triples them, if there is more than two chains). If you meant to ask whether the combined value of these bitcoins would match (or even exceed) the current price, this is highly unlikely. Most likely, the price will crash below 1,000 dollars per chain per coin, and it may in fact be way lower than just 1,000 dollars

[abercrombie]

Seems the segwit2x code is buggy as hell.  The market is starting to price-in the bip-148 soft fork which won't have much hashing power but has a lot of end-user support.

[Mia Wallace]

Seems the segwit2x code is buggy as hell.  The market is starting to price-in the bip-148 soft fork which won't have much hashing power but has a lot of end-user support.

I am hearing about this for the first time,i did not know that segwit2x code is buggy. What ever may be the reason these are tough times for bitcoin without a doubt as anything could happen in the next few weeks and i really hope that everything comes out good.If there is a split there would be dump without a doubt.

[Abricotier]

Cryptopocalypse incoming, buying cheap coins @$1200

Rather than spreading fake panic informations, of course not at all explained, you should try to actually construct a bit more your idea .

[ratoe]

I can pleace my money there there will be a huge dump at the end of july just from the whole fear of the uncertainty and the bitcoin price dropping after the 1st of Aug, then the price will go $3k+ in the next couple of weeks or even days.

I've never been so excited about anything as much as I'm excited to see what's going to happen in August.

So what you suggest should we dump bitcoin now and see what happens after 1st August and buying again in next couple weeks?
Are you optimistic about bitcoin after 1st August will bounce back again if price drop more than 50%?

[Denker]

I can pleace my money there there will be a huge dump at the end of july just from the whole fear of the uncertainty and the bitcoin price dropping after the 1st of Aug, then the price will go $3k+ in the next couple of weeks or even days.

I've never been so excited about anything as much as I'm excited to see what's going to happen in August.

So what you suggest should we dump bitcoin now and see what happens after 1st August and buying again in next couple weeks?
Are you optimistic about bitcoin after 1st August will bounce back again if price drop more than 50%?

He is speculating that a crazy dump will happen.
Others speculate we will rise before August as SegWit getting activated is pretty certain.
You can ask ten different persons and you will get 10 different answers.
Make up your mind and decide yourself. You could sell a part of your coins.Therefore in terms of a rise you're still on the train and if we should dump you can use the cash to buy back in cheaper.

[giantrobot]

Cryptopocalypse incoming, buying cheap coins @$1200

Rather than spreading fake panic informations, of course not at all explained, you should try to actually construct a bit more your idea .

A crazy guy is trying to make people nervous, it can affect some people at this forum, instead of trying to make people worry, I think he should find a way to deal with it. His current problem with bitcoin.

[Bitcoin Guy]

Hope the whole Bitcoin community will understand that and work together to prevent the fork to happen.

If one has 1 BTC in a cold wallet and if Bitcoin forked into two - BTC(A) and BTC(B), would it be so happened that after the split, the combination of (A) and (B) would be less than 1 BTC?

It is not quite clear what you mean

After the split you should have 1 BTC on the one chain and exactly 1 BTC on the other chain, so your total of what could still be loosely considered as Bitcoin would be equal to 2 bitcoins. In a sense, chain splitting doubles your bitcoins (or even triples them, if there is more than two chains). If you meant to ask whether the combined value of these bitcoins would match (or even exceed) the current price, this is highly unlikely. Most likely, the price will crash below 1,000 dollars per chain per coin, and it may in fact be way lower than just 1,000 dollars

You got my question read correctly.  Thank you.  Your answer is what I am afraid of in that the overall value of the bitcoin holding will decrease.

The bitcoin folk

LOL!   Maybe I should change my alias to "Bitcoin Folk" instead of "Bitcoin Guy".

[soul-impact]

Cryptopocalypse incoming, buying cheap coins @$1200

Rather than spreading fake panic informations, of course not at all explained, you should try to actually construct a bit more your idea .

A crazy guy is trying to make people nervous, it can affect some people at this forum, instead of trying to make people worry, I think he should find a way to deal with it. His current problem with bitcoin.

Be careful of your words, you are too aggressive. I think no one is cheated on him, people are so knowledgeable about bitcoin, if they want to cheat on anyone, they need convincing evidence.

[chip1994]

Cryptopocalypse incoming, buying cheap coins @$1200

Rather than spreading fake panic informations, of course not at all explained, you should try to actually construct a bit more your idea .

No, the price of Bitcoin really can breakdown to $1800-$1600 in next time if psychological of trader still continues to panic as past days. Status SegWit, deathline, bad news about Bitcoin ... are reason can make that, maybe can happens in the last week of July to first week of August. Be careful!

[Pierre 2]

First bitcoin fork is very unlikely, second there will probably be segwit implement.
I think uncertainty will create sell waves but it won't be huge as people expected and holders, as always, will win.

[costina]

First bitcoin fork is very unlikely, second there will probably be segwit implement.
I think uncertainty will create sell waves but it won't be huge as people expected and holders, as always, will win.

I understand your mean, but the base price to holding BTC depending on each person, example a holder buying at price $2800, can say this person will win when choose hold? Sometime, need sell to buy more amount Bitcoin can helps you take extra profit

[Bitcoin Guy]

I am wondering how effective will Segwit have on Bitcoin?  Ethereum is 6 to 7 times faster in processing transactions than Bitcoin, but it is still having scaling issue when handling the big demand from ICO weeks ago.

[deisik]

Hope the whole Bitcoin community will understand that and work together to prevent the fork to happen.

If one has 1 BTC in a cold wallet and if Bitcoin forked into two - BTC(A) and BTC(B), would it be so happened that after the split, the combination of (A) and (B) would be less than 1 BTC?

It is not quite clear what you mean

After the split you should have 1 BTC on the one chain and exactly 1 BTC on the other chain, so your total of what could still be loosely considered as Bitcoin would be equal to 2 bitcoins. In a sense, chain splitting doubles your bitcoins (or even triples them, if there is more than two chains). If you meant to ask whether the combined value of these bitcoins would match (or even exceed) the current price, this is highly unlikely. Most likely, the price will crash below 1,000 dollars per chain per coin, and it may in fact be way lower than just 1,000 dollars

You got my question read correctly.  Thank you.  Your answer is what I am afraid of in that the overall value of the bitcoin holding will decrease

It seems that there might be no SegWit2x

And no soft fork either (i.e. no just SegWit), so your fears (and not only yours, obviously) may be unfounded. As theymos recently wrote, BIP148 has little to no chances to pass through, so there is no reason for Jihan and his Antpool to signal their support for SegWit2x anymore (which they are firmly against). It kinda looks they are going to revoke their agreement, and then there won't be enough support for SegWit2x activation. The bottom line is that the current status-quo is likely to be preserved (read miners have won)

[Bitcoin Guy]

It seems that there might be no SegWit2x

And no soft fork either (i.e. no just SegWit), so your fears (and not only yours, obviously) may be unfounded. As theymos recently wrote, BIP148 has little to no chances to pass through, so there is no reason for Jihan and his Antpool to signal their support for SegWit2x anymore (which they are firmly against). It kinda looks they are going to revoke their agreement, and then there won't be enough support for SegWit2x activation. The bottom line is that the current status-quo is likely to be preserved (read miners have won)

Could you elaborate what you mean by "BIP148 has little to no chances to pass through"?  I thought they are going to activate BIP148 on August 1st regardless?

[Rahar02]

Just to remind everyone, price after the fork was around $10 or even less, now it is like $222?
As always, speculations about future and potential demise/fail of bitcoin are exaggerated greatly. Bitcoin will survive even after a split.

The problem here is that noobs tend to take everything for granted too easily. If you look at how many threads have been popping up with the split/fork as subject, it shouldn't surprise anyone that noobs can't hold themselves anymore. The entire forum has been infested with clowns spreading false and wrong information. If you widely browse through this forum, you'll see that the majority of the people look at forks as something negative, while in fact these 'updates' are needed to push Bitcoin forward to let it cope with the increased demand.

I thought segwit2x or UASF on August 1^st is a good deal which could cause big increase on bitcoin prices in matter of a week or so (read this for more information http://www.uasf.co/). But, there are too many negative opinions here and there in this whole fear of uncertain hard fork and chances of chain split. For people who knows for sure what will happen this month or next month due to this fork things, could play with the prices and get big profits from panic seller.

Now, I've read an administrator comment about this and stated BIP48 will fail and bitcoin might face crash before or after August.
Last day, bitcoin price declined as much $200-$300 and may continue to drop, many people already triggered to sell and pretty pain for big holders who felt lost because this dump. However, I suggest to everyone ; if you afraid of lose, than just sell small amount of bitcoin just in case and believe in bitcoin, it always recover after big drop and there is a small chance for bitcoin drop less than $1800.