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Author Topic: yet another interesting option on the eve of the 1st of August  (Read 494 times)
yell
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July 18, 2017, 09:59:41 AM
 #1

The common goal is to save trust of general public and investor to the hole crypto economy, rather than just a Bitcoin (which is still almost synonym for the majority of people).
So, God (diligent people) forbid, if something goes wrong, the damage to crypto economy reputation will be catastrophic.

But, thanx to (diligent people) there are some other instruments that are (a kind of) alternatives to Bitcoin, and nevertheless still are crypto assets or coins.

So major advices we could read now in various media are:
1. Stop doing any kind of operations during uncertainty period (for approximate 2 weeks since 31 of July);
2. Convert your BTC(XBT) tokens into fiat money till uncertainty period is over;
But all this options provoke either tension or panic.
So (guess not only me who agree) what about option nr. 3:
3. convert your BTC crypto to some other crypto (which are not less reliable but still alternatives to BTC).

Benefits:
1. Crypto market capitalization remain the same, that will extinguish the panic;
2. Users are still able to make crypto operations during Bitcoin uncertainty period;
3. If something go wrong with BTC users will not loose their money (because money are in other crypto assets);
4. If everything go well users will return to BTC with no damage to general crypto economy reputation.
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NeuroticFish
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July 18, 2017, 10:01:50 AM
 #2

2. Convert your BTC(XBT) tokens into fiat money till uncertainty period is over;

So they should contribute to the current dump and help the pump after August 1st.
Well, if people need advises from brand new accounts, they surely deserve their fate.

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Juggy777
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July 18, 2017, 10:03:32 AM
 #3

The common goal is to save trust of general public and investor to the hole crypto economy, rather than just a Bitcoin (which is still almost synonym for the majority of people).
So, God (diligent people) forbid, if something goes wrong, the damage to crypto economy reputation will be catastrophic.

But, thanx to (diligent people) there are some other instruments that are (a kind of) alternatives to Bitcoin, and nevertheless still are crypto assets or coins.

So major advices we could read now in various media are:
1. Stop doing any kind of operations during uncertainty period (for approximate 2 weeks since 31 of July);
2. Convert your BTC(XBT) tokens into fiat money till uncertainty period is over;
But all this options provoke ether tension or panic.
So (guess not only me who agree) what about option nr. 3:
3. convert your BTC crypto to some other crypto (which are not less reliable but still alternatives to BTC).

Benefits:
1. Crypto market capitalization remain the same, that will extinguish the panic;
2. Users are still able to make crypto operations during Bitcoin uncertainty period;
3. If something go wrong with BTC users will not loose their money (because money are in other crypto assets);
4. If everything go well users will return to BTC with no damage to general crypto economy reputation.

Don't know if you are aware or no, but there won't be any need to anything like this anymore, the hard folk and split won't be happening look for this section there a post which has posted that segwit has already got support of 87% and it's pertinent to mention that Bittmain has signalled his support to, now it will be 3 - 5% of miners and don't really expect them to create any sort of trouble, they shall easily fall in line. You can read more updates on this section.

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talkbitcoin
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July 18, 2017, 10:05:17 AM
 #4

the "uncertainty period" is not that date you cited. it is the period where we are not sure how much support each proposal has and the low supports can mean split.

but before that date comes we can clearly see how much support each proposal has and when SegWit gains a large enough support (which from the initial agreement is above 90%) we can get a simple fork with no split.

this simply means, there is no reason to be uncertain after some point which will be long before Aug 1.

also i should add that going into another altcoin is pointless. because in case bitcoin drops, that altcoin you invested in will be annihilated and will take your money with it.

as you can see the uncertainty period has already started to end














 

 

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Bacchu
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July 18, 2017, 10:58:11 AM
 #5


2. Convert your BTC(XBT) tokens into fiat money till uncertainty period is over;
But all this options provoke ether tension or panic.
So (guess not only me who agree) what about option nr. 3:
3. convert your BTC crypto to some other crypto (which are not less reliable but still alternatives to BTC).

i don't going to  convert BTC to Fiat Sad
But i will convert some of my BTC to Crypto (ALT Coin) like ETH and some valuable coin.
will hold some of my Bitcoin to my blockchain wallet as i believe the price of bitcoin will hit $5000 after the 1st august.
Thanks a lot for your post .

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July 18, 2017, 11:09:01 AM
 #6

...

I'm just to HODL my Bitcoin through the next few weeks, barring some catastrophic news (which I do not expect).  Just sit around, drink my coffee, and hope to get some BTC soon before the price goes way up (that's assuming all goes well -- which it might not).  I am an optimist, but who really knows.

As always, only buy risky assets like BTC with money you can afford to lose if things go wrong.
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July 18, 2017, 11:16:26 AM
 #7

...

I'm just to HODL my Bitcoin through the next few weeks, barring some catastrophic news (which I do not expect).  Just sit around, drink my coffee, and hope to get some BTC soon before the price goes way up (that's assuming all goes well -- which it might not).  I am an optimist, but who really knows.

As always, only buy risky assets like BTC with money you can afford to lose if things go wrong.

Yeah,we don`t have to listen to some newbies explaining how they have a plan to lose their cryptos. Smiley
What if nothing happens after August 1 and the bitcoin price started increasing until it reaches 4000 USD.
I`m going to wait for one more week and decide wether or not to sell my btc.



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BitHodler
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July 18, 2017, 11:43:47 AM
 #8

I almost can't hold my laugh when browsing through the forum as I am sniffing the unavoidable odor of fear and panic amongst those fud spreading cockroaches.

Just chill out. If you don't have any interest in trading, then simply withdraw your coins till everything has been sorted out. It makes no sense to go nuts over something you don't have any saying in.

A month or two later we are heading up again, and by that time people won't even spend a single second thinking about how they were stressing about the 1st of August.

krishnapramod
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July 18, 2017, 12:11:27 PM
 #9

The common goal is to save trust of general public and investor to the hole crypto economy, rather than just a Bitcoin (which is still almost synonym for the majority of people).
So, God (diligent people) forbid, if something goes wrong, the damage to crypto economy reputation will be catastrophic.

But, thanx to (diligent people) there are some other instruments that are (a kind of) alternatives to Bitcoin, and nevertheless still are crypto assets or coins.

So major advices we could read now in various media are:
1. Stop doing any kind of operations during uncertainty period (for approximate 2 weeks since 31 of July);
2. Convert your BTC(XBT) tokens into fiat money till uncertainty period is over;
But all this options provoke ether tension or panic.
So (guess not only me who agree) what about option nr. 3:
3. convert your BTC crypto to some other crypto (which are not less reliable but still alternatives to BTC).

Benefits:
1. Crypto market capitalization remain the same, that will extinguish the panic;
2. Users are still able to make crypto operations during Bitcoin uncertainty period;
3. If something go wrong with BTC users will not loose their money (because money are in other crypto assets);
4. If everything go well users will return to BTC with no damage to general crypto economy reputation.

Major advice would be to withdraw your coins from exchanges or online wallets and store where you readily have access to private keys.

Yeah, it is logical to not indulge in transactions during uncertainty (I don't think a soft fork would cause any serious network instability)

Newbies get panicked easily, they might convert BTC to fiat, but I don't think veterans or people who have faith in BTC will indulge in conversion, just hodl and wait.

Bitcoin and alts have a price correlation. If bitcoin price goes down, alts also go down, yeah diversifying might be helpful to prevent a small percentage of loss, better than converting to fiat especially if you want to use crypto for transactions.

August 1 or not, bitcoin is a volatile currency and people understand the risks and benefits associated with it. If the price increases after August 1 and you sell your bitcoins before that you are in loss, but even if price drops after August 1, it has to be temporary, the price would surge again, holding is just more than enough to get through it. It's not an investment advise, just my opinion. Your coins, you are free to do whatever you want to do with it.

yell
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July 18, 2017, 12:13:16 PM
 #10

yeah diversifying might be helpful to prevent a small percentage of loss, better than converting to fiat especially if you want to use crypto for transactions.

Yes, that is what I am also inclined to.

Indeed, it's good if there are assured people like some visitors of this forum, who are not subtle to panic if the winds just blows a bit, but what if this is the case of tsunami?
If those who do the tricks (mainly developers and most influential persons of Bitcoin world) will not reach consensus (hope they will) and some smartest will go their way, a lot of variants are possible, including not positive ones.
As a usual investor could read articles like (just an example):
https://bitcoinmagazine.com/articles/bitcoin-beginners-guide-surviving-bip-148-uasf/
the only conclusion for new or typical investor is: "now go to fiat and wait what will happen for a month at least". And, what is pity by fact - those who did that way were right, because since the 1st of June '17 the negative delta was from 2984 USD to 1882 USD (if to speak about BTC only) which is about 37% negative delta. This is not a stability we all want (hope so).
I do not care much of any specific media sources or other tokens, but I care general positive trend and stability, I want, as an Investor, to see BTC as a strong, predictable tool for a long-term use and sleep nights calm.

May me yes,  may be no, but what is better - go to fiat or go to other tokens to save common reputation of crypto economy?
I prefer latter because even if something goes wrong, it will deal with BTC only or even with some fork of BTC (time will show) - all cryptos fighting v/s fiat for the place under the Sun with the BTC as a leader, and Bitcoin in the same boat with all the other tokens, BTC is still a mainstream, so may be it is the time for other tokens to help BTC (instead of leaving cryptos at all) and all crypto economy? Do not fright the crypto investors in other words.

You guys really let me think that all will be OK, but I just want to have some more backgrounded opinions to make right decisions in this period. I do not want to go to fiat even this time. So is it in OK if I choose other crypto (which are also relatively cheap nowadays)?

Thanx a lot for your thoughts, appreciate it.
mindrust
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July 18, 2017, 12:19:02 PM
 #11

2. Convert your BTC(XBT) tokens into fiat money till uncertainty period is over;

Disagreed with this one.

If you get back into FIAT, you lose your right to vote on bitcoin's future.

If you want bitcoin to succeed, no matter what happens, you should never ever sell your coins. If bitcoin forks into 2, so be it. You'll still have coins on both chains and its your decision that will make one chainmore valuable than the other.

If you stay with FIAT, you won't have a say in this and It is very possible that people you don't like will be deciding instead of you.

Evil people like Roger are holding thousands of bitcoins since the beginning. Have you ever seen them panicking? No. They hold no matter what. Grow a pair and at least be as brave as them.

If you don't, you deserve to be ruled by dipshits.

This also applies to your daily decisions in life btw.
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