Investing in a coin before a large split to increase ones earnings.

[BitUsher]

Disclaimer - I don't invest in any alts, but am curious to understand and empathize with others.

There is a Large probability that there will be at least one split occurring (Altcoin spinoff)which they have branded BCC "Bitcoin Cash" (Bitcoin ABC implementation) which is being supported by bitmain, viabtc, and bitcoin.com pools and exchanges.

Since we already have the precedence of the ETH/ETC split where the cumulative value was immediately higher post split and than grew much higher over time, and it stands to reason that any split with significant liquidity sparks a trading battle which increases volatility and brings more fiat in.

Are any of you planning on selling off your alts and investing in BTC before Aug 1 to secure the rights to both coins even if it is a temporary trading strategy?

[FiniteKez]

I'm not super optimistic on bcc taking off, but hey why not. I'll probably wrap up some of my alt coin shorts that were backed with btc and move the btc over to a paper wallet while we see what happens with the split. Personally, I don't think the price drop/gain is going to be as dramatic as the community thinks it will be, but I'm all for free spin off coins.

[makulo123]

Well, technically, there will be no split in Bitcoin. That's why the price surged around 600 USD to 2700 USD. What concerns me, is that ETH or other cryptos are not following the upside movement that much as BTC. The BTC has the momentum right now, I would say...

[pey]

I don't think there will be a split but there might be sharp increases and decreases because of speculation.

[BitUsher]

Well, technically, there will be no split in Bitcoin. That's why the price surged around 600 USD to 2700 USD. What concerns me, is that ETH or other cryptos are not following the upside movement that much as BTC. The BTC has the momentum right now, I would say...

I am not discussing the segwit2x or 148 splits which I don't think will occur either, but the altcoin spinoff supported by those 3 companies here - https://www.bitcoincash.org/

looks like a lot of work for Bitmain to hire those devs and promote it for a bluff thus looks likely to occur.


I dont think this will have much an effect on the price of BTC, but it is an opportunity to get some free BCC for every BTC you own before aug 1st like clams.

[savon2k]

Well, technically, there will be no split in Bitcoin. That's why the price surged around 600 USD to 2700 USD. What concerns me, is that ETH or other cryptos are not following the upside movement that much as BTC. The BTC has the momentum right now, I would say...

Well technically I think it's just not certain if the split will accure (or it was just a pile of bull from the beggin)

But if it happens I will not invers new money into btc ,but rather sell both chains probably and then try to reinvest in the "good one"

[ayesha201009]

I am a bit scared every time I heard about a fork. Probably because in the past before any events happening most of people was really scared about it.
So the community now know how to react, and bring new chain could just spread more value to entire community and "enroll"  new person.

[jameshowlett]

I will keep my altcoins. Spending my real money to buy more bitcoin is my plan. We do not need to sell any bitcoin right now. Moreover, when bitcoin increases its price, it will be a good sight for all cryptocurrencies to move forward. As you can see, bitcoin increasing will lead to altcoin increasing

[shimbark123]

Is there really a split? I really don not know for sure. But if there is what coin should we invest about? Is it really necessary to invest? What should i do, i really dont know how to invest or trade or whatsoever.

[JShade5]

If this split looks even remotely likely, I'm going to increase my position in ltc and usdt.

[makulo123]

Well, technically, there will be no split in Bitcoin. That's why the price surged around 600 USD to 2700 USD. What concerns me, is that ETH or other cryptos are not following the upside movement that much as BTC. The BTC has the momentum right now, I would say...

Well technically I think it's just not certain if the split will accure (or it was just a pile of bull from the beggin)

But if it happens I will not invers new money into btc ,but rather sell both chains probably and then try to reinvest in the "good one"

Well, the BIP 91 is already locked in https://coin.dance/blocks.
I am holding some BTC in case, it would surge more in the near future, but holding some of the altcoins as well. Take into consideration the market cap, if you will be looking for a new "good one" crypto. There are a lot of them. It is only a matter of choice.

[BitcoinHodler]

BCC is not exactly a split, it is like an altcoin that is taking a snapshot of the bitcoin blockchain at a certain point and then builds on top of it. the difference here from the usual altcoin airdrops which take snapshots is that you have to do something to receive that altcoin but here you already have the coins on that chain.

now here is the problem. this chain will have many issues. no developers support, this means weaker code (the code that they add in the future), and because of that no support from the community and because it is "giving away" free coins, there will be a huge dump in the start because people see the price dropping and start dumping to get the biggest profit out before the price reaches the bottom. (see what happens to price of altcoins after airdrop or after ICO release, ...).
also this chain will have a huge difficulty with so little hashrate. slower blocks, easier to 51% attack, ....
and when prices fall, mining will become less profitable. with lower price miners won't go there (or if they are already there, they will leave) and hashrate will go even lower and making things even worse.
this chain will have a much smaller number of nodes, a lot of different attack vectors.
also there will be replay attack.

i really can't see this BCC go anywhere!

this is not at all like ETH/ETC split. by that time, things were rushed in ETH split and also people and miners wanted the original chain and didn't want a "roll back to save ass" hard fork.

this may be good for bitcoin though! imagine you have 10BTC, you get equal amount on BCC and even if you can sell it for $400 (that is assuming you are not losing it in the replay attack) you can gain $4000 and buy ~1.48BTC and price of Bitcoin will go up as new fiat is being injected in.
and if you act fast on selling BCC you may even catch a higher price to sell it and a lower price to buy BTC before it breaks $3000

[Kwelstr]

I think I will keep the alts I have and the btc I have separate, if the split happens the BCC chain is gonna have lesser value but having the private keys you'll have coins on both. We'll have to wait and see if it makes sense to keep both or better to trade the BCC after they split. Too soon to tell. :/

[Red-Apple]

your title doesn't match your question actually.

investing in a coin before a split:
no, because altcoins are small and if they split (like ETH/ETC split) they both will fall hard. in multiple steps. first before the split as traders cash out and go to another altcoin that does the exactly same thing for them. next is when they get their coins doubled and dump both of them to get the money out to invest in other altcoins that do exactly the same for them!!

Bitcoin:
bitcoin is too big to split. and if it does, the fork that is created from bitcoin and has little support (aka BCC) will be crushed because everyone will dump their coins there to get more bitcoin out of it. and they come back to what they know and trust for years and has the majority of support and all the developers: BTC

[BitUsher]

Bitcoin:
bitcoin is too big to split. and if it does, the fork that is created from bitcoin and has little support (aka BCC) will be crushed because everyone will dump their coins there to get more bitcoin out of it. and they come back to what they know and trust for years and has the majority of support and all the developers: BTC

I fully expect BCC to be crushed in time and capitulate. My question more has to do with an opportunity in at least temporarily growing ones BTC position in order to profit off the credulous "big blockers" who are buying into BCC, by selling off the split BCC and reinvesting in BTC post split.

[lumeire]

Well, technically, there will be no split in Bitcoin. That's why the price surged around 600 USD to 2700 USD. What concerns me, is that ETH or other cryptos are not following the upside movement that much as BTC. The BTC has the momentum right now, I would say...

I am not discussing the segwit2x or 148 splits which I don't think will occur either, but the altcoin spinoff supported by those 3 companies here - https://www.bitcoincash.org/

looks like a lot of work for Bitmain to hire those devs and promote it for a bluff thus looks likely to occur.


I dont think this will have much an effect on the price of BTC, but it is an opportunity to get some free BCC for every BTC you own before aug 1st like clams.

Which is probably one reason we can attribute to the latest upward spike in price this last few days, people are stacking up.

[Kwelstr]

In my view, the group that decided to make bitcoincash is doing all of us a big favor. It is like a huge airdrop for a new coin and we can all benefit from it. To prepare the only thing is making sure your bitcoin wallet gives you your private keys, then you can have both coins. It will not affect the bitcoin price a bit. Win-win, heh

[European Central Bank]

i wouldn't buy any more bitcoin just for this. and i don't think it's directly comparable to the etc thing. those circumstances will never happen again.

for the people who are stacking up bare in mind that whales are probably pumping for segwit anyway and this is an additional reason for more pump. they may shit on you.

[Prodigan786]

Litrerally I sold some of my bitcoin for fiat currency some already converted to ethereum and waves where I exactly see the growth after split if happens I am not taking any chance

[mobnepal]

Are any of you planning on selling off your alts and investing in BTC before Aug 1 to secure the rights to both coins even if it is a temporary trading strategy?

A big no because almost all of the alts are still in red and the one who will sell their alts right now will be in loss when bitcoin will start correcting. Most of the altcoins will surge during possible hardfork and profit from them might be higher than from holding bitcoin in two chains.