Building up to Bitcoin Gold might increase the price of Bitcoin

[Kakmakr]

Let's look back at Bitcoin Cash and evaluate what happened and based on this information, predict what will happen to the Bitcoin price, building up to Bitcoin Gold fork.

A lot of people got some FREE Bitcoin Cash, based on the amount of bitcoins they owned on the day it forked to create Bitcoin Cash. Now we seem to be having a repeat of this scenario, but this time it will be Bitcoin Gold.

I predict that a lot of people will be buying more bitcoins in a buildup to this fork and more people will be hoarding their coins, to increase the amount of FREE Bitcoin Gold they will be receiving on the day of the fork.

Less supply and increased demand, will push up the Bitcoin price, building up to this event. Right?

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[AlcoHoDL]

Let's look back at Bitcoin Cash and evaluate what happened and based on this information, predict what will happen to the Bitcoin price, building up to Bitcoin Gold fork.

A lot of people got some FREE Bitcoin Cash, based on the amount of bitcoins they owned on the day it forked to create Bitcoin Cash. Now we seem to be having a repeat of this scenario, but this time it will be Bitcoin Gold.

I predict that a lot of people will be buying more bitcoins in a buildup to this fork and more people will be hoarding their coins, to increase the amount of FREE Bitcoin Gold they will be receiving on the day of the fork.

Less supply and increased demand, will push up the Bitcoin price, building up to this event. Right?

This depends on how seriously people take Bitcoin Gold... And its website is laughable at best. Hell, don't they have anyone in their team who knows how to use the English language? This is ugly and shows laziness on the part of the BTG team. Would you trust a coin whose code is written (or messed with) by these guys?

OTOH, free money is free money, and it is welcome...

Edit: Bitcoin Gold's website now only displays "OCTOBER 25" as the day of the fork... Well, it's better than those Google Translate texts they put up earlier. Let's see how this is going to play out...

[thend1949]

Let's look back at Bitcoin Cash and evaluate what happened and based on this information, predict what will happen to the Bitcoin price, building up to Bitcoin Gold fork.

A lot of people got some FREE Bitcoin Cash, based on the amount of bitcoins they owned on the day it forked to create Bitcoin Cash. Now we seem to be having a repeat of this scenario, but this time it will be Bitcoin Gold.

I predict that a lot of people will be buying more bitcoins in a buildup to this fork and more people will be hoarding their coins, to increase the amount of FREE Bitcoin Gold they will be receiving on the day of the fork.

Less supply and increased demand, will push up the Bitcoin price, building up to this event. Right?

I see this is a great idea so far and this will exactly help move up the bitcoin price in order to gain it's value towards the marketplace demand. The pump of is currently raging smoothly but if that will happen that price will amazingly increased together with the demand, surprisingly this will become a history and that $10K per bitcoin will happen in sooner time. If people will be hoarding their coins, I guess the dumping of btc will be lessen.

[Eric Cartman]

Has anyone said free coins?

[Herbert2020]

the bitcoin cash scenario is a little misleading here because it  coincided with the activation of SegWit and a lot of FUD.
if you remember the FUD was talking about the death of bitcoin just because a FORK was about to happen. there are currently topics talking about bitcoin dying just because it will "split" and disappear.
obviously this keeps the price down and when it goes away, the price springs up to the moon.

secondly it was the "end of scaling debate". that thing lasted for years (3 maybe). and when it ended finally with SegWit being activated and big blockers forking off, we saw the rise because there were no more stopping bitcoin by useless debates to delay the inevitable.

bitcoin gold in comparison has nothing to it. it is a shitty pre-mined altcoin. and currently nothing is going on.

[player514]

Let's look back at Bitcoin Cash and evaluate what happened and based on this information, predict what will happen to the Bitcoin price, building up to Bitcoin Gold fork.

A lot of people got some FREE Bitcoin Cash, based on the amount of bitcoins they owned on the day it forked to create Bitcoin Cash. Now we seem to be having a repeat of this scenario, but this time it will be Bitcoin Gold.

I predict that a lot of people will be buying more bitcoins in a buildup to this fork and more people will be hoarding their coins, to increase the amount of FREE Bitcoin Gold they will be receiving on the day of the fork.

Less supply and increased demand, will push up the Bitcoin price, building up to this event. Right?

This depends on how seriously people take Bitcoin Gold... And its website is laughable at best. Hell, don't they have anyone in their team who knows how to use the English language? This is ugly and shows laziness on the part of the BTG team. Would you trust a coin whose code is written (or messed with) by these guys?

OTOH, free money is free money, and it is welcome...

Edit: Bitcoin Gold's website now only displays "OCTOBER 25" as the day of the fork... Well, it's better than those Google Translate texts they put up earlier. Let's see how this is going to play out...

Yup, I agree with your statement that it highly depends on how the community views Bitcoin gold. If it's a complete joke, a majority of them will sell and gain Bitcoin value. It will be the same exact situation as with Bitcoin cash. If people do actually take it seriously, it may be an altcoin of its own.

[Pursuer]

that is a possibility but I do not think price can be affected greatly by cases like this. even the bitcoin cash rise, I don't think the reason for that rise was completely related to that fork. there were other reasons that was mentioned above in a comment. but as I said it is possible that some new "demand" is created because of it.

besides bitcoin gold is not really a serious thing. it was first supposed to be an ICO! then they changed their mind and changed it in to a premined coin.

[randythered]

It seems plausible that this would be the case but the level of influence is difficult to estimate. It really depends on people's expectations for bitcoin gold. Personally I don't expect it to be overly successful and I do not think we will see it have a price as high of bitcoin cash, therefore I don't expect that the price of bitcoin will increase greatly before the fork in anticipation of a nice easy profit.

[VanDeinsberg12]

I don't think that this hardfork will be success for the 2nd time, people aren't that dumb to just buy altcoins that's out of nowhere, or do they(?).
From my opinion, making bitcoin gold is just nonsense since there's no important reason, while bitcoin cash HF created based on the difference of idea. I personally will not going to care about this one.
even if this exist just to pump the price of bitcoin, do you really think that bitcoin gold will have value?

[bajing]

Let's look back at Bitcoin Cash and evaluate what happened and based on this information, predict what will happen to the Bitcoin price, building up to Bitcoin Gold fork.

A lot of people got some FREE Bitcoin Cash, based on the amount of bitcoins they owned on the day it forked to create Bitcoin Cash. Now we seem to be having a repeat of this scenario, but this time it will be Bitcoin Gold.

I predict that a lot of people will be buying more bitcoins in a buildup to this fork and more people will be hoarding their coins, to increase the amount of FREE Bitcoin Gold they will be receiving on the day of the fork.

Less supply and increased demand, will push up the Bitcoin price, building up to this event. Right?

It's not necessarily, I think the current price increase is not because bitcoin users are starting to hold their bitcoin to get bitcoin gold because the time of launching bitcoin gold is still a few weeks away, usually if they are interested then they will hold bitcoin a few days before the launch of bitcoin gold.

[teilwalL05]

It is free coins so be thankful in getting them, and a lot will surely Buy, stock and hold up to their bitcoin because who would don't want a free Coins after all and that is Bitcoin Gold, well we can get it by this impending Hard Fork again just like Bitcoin Cash did, but we can see that Bitcoin Gold did a different approach by announcing it as a new dividend or an Altcoin well that is pretty impressive.

[Kakmakr]

Let's look back at Bitcoin Cash and evaluate what happened and based on this information, predict what will happen to the Bitcoin price, building up to Bitcoin Gold fork.

A lot of people got some FREE Bitcoin Cash, based on the amount of bitcoins they owned on the day it forked to create Bitcoin Cash. Now we seem to be having a repeat of this scenario, but this time it will be Bitcoin Gold.

I predict that a lot of people will be buying more bitcoins in a buildup to this fork and more people will be hoarding their coins, to increase the amount of FREE Bitcoin Gold they will be receiving on the day of the fork.

Less supply and increased demand, will push up the Bitcoin price, building up to this event. Right?

It's not necessarily, I think the current price increase is not because bitcoin users are starting to hold their bitcoin to get bitcoin gold because the time of launching bitcoin gold is still a few weeks away, usually if they are interested then they will hold bitcoin a few days before the launch of bitcoin gold.

I disagree, most people anticipate that there would be a rush to buy bitcoins, closer to the date of the fork, so they would much rather buy now and have these coins before the panic phase kicks in. We also saw spam attacks causing delays in transaction confirmations of up to 24 hours prior to previous major events. You do not want your transaction caught up in one of these spam attacks, prior to the fork.

You will also want to buy at a cheaper price, whilst it is going upwards, not when it reached it's peak. ^smile^

[RoommateAgreement]

Let's look back at Bitcoin Cash and evaluate what happened and based on this information, predict what will happen to the Bitcoin price, building up to Bitcoin Gold fork.

A lot of people got some FREE Bitcoin Cash, based on the amount of bitcoins they owned on the day it forked to create Bitcoin Cash. Now we seem to be having a repeat of this scenario, but this time it will be Bitcoin Gold.

I predict that a lot of people will be buying more bitcoins in a buildup to this fork and more people will be hoarding their coins, to increase the amount of FREE Bitcoin Gold they will be receiving on the day of the fork.

Less supply and increased demand, will push up the Bitcoin price, building up to this event. Right?

It's not necessarily, I think the current price increase is not because bitcoin users are starting to hold their bitcoin to get bitcoin gold because the time of launching bitcoin gold is still a few weeks away, usually if they are interested then they will hold bitcoin a few days before the launch of bitcoin gold.

I disagree, most people anticipate that there would be a rush to buy bitcoins, closer to the date of the fork, so they would much rather buy now and have these coins before the panic phase kicks in. We also saw spam attacks causing delays in transaction confirmations of up to 24 hours prior to previous major events. You do not want your transaction caught up in one of these spam attacks, prior to the fork.

You will also want to buy at a cheaper price, whilst it is going upwards, not when it reached it's peak. ^smile^

majority of people usually put these things off to the last minute that is why we always see a surge at times like this. if everyone were so wise and aware of the future then there would have been a surge by now and both price and number of transactions would have increased considerably.

[exstasie]

A lot of people got some FREE Bitcoin Cash, based on the amount of bitcoins they owned on the day it forked to create Bitcoin Cash. Now we seem to be having a repeat of this scenario, but this time it will be Bitcoin Gold.

I predict that a lot of people will be buying more bitcoins in a buildup to this fork and more people will be hoarding their coins, to increase the amount of FREE Bitcoin Gold they will be receiving on the day of the fork.

Less supply and increased demand, will push up the Bitcoin price, building up to this event. Right?

I think we need to look at the larger context. As we approached the fork, we were in a mid term correction, falling ~ 40% from the June highs in total. BIP91 offered the market some level of certainty that no major split would occur. So the market rallied in response. I don't think that Bitcoin Cash had much, if anything, to do with it.

If anything, BCH was just riding on the coattails of confidence returning to the Bitcoin (and therefore altcoin) markets. We'll have to wait and see what the market sentiment is like when Bitcoin Gold launches. I also don't think that it will arouse much interest -- certainly not on the scale of BCH. The latter is backed by powerful interests like Bitmain and Bitpay. BitGold looks like a copy-paste coin with no real development or innovation.

[Weawant]

Let's look back at Bitcoin Cash and evaluate what happened and based on this information, predict what will happen to the Bitcoin price, building up to Bitcoin Gold fork.

A lot of people got some FREE Bitcoin Cash, based on the amount of bitcoins they owned on the day it forked to create Bitcoin Cash. Now we seem to be having a repeat of this scenario, but this time it will be Bitcoin Gold.

I predict that a lot of people will be buying more bitcoins in a buildup to this fork and more people will be hoarding their coins, to increase the amount of FREE Bitcoin Gold they will be receiving on the day of the fork.

Less supply and increased demand, will push up the Bitcoin price, building up to this event. Right?

We cannot actually tell the exact scenario on whether bitcoins price will be lifted if bitcoin gold will came out since the main thing can bend up the bitcoins is the adoption and buy orders of the people. And positively bitcoins is gaining more momentum since the price of it every year rises up so no wonder eventhough if there isn't bitcoin gold will came the bitcoins itself can lift up itself by the help of people who supported it.

[ivrynx]

If we look back on what had happened before august 1, before bitcoin cash, the price of bitcoin, is already high and the trends are all pointing upwards, and there was no hype regarding bitcoin cash back then, everyone was worried that bitcoin cash might replace bitcoin in an instant, however it didin't happened, after the first fork, bitcoin still became strong and it rose to 5000 usd, i think what people are doing now is to hype bitcoin gold, so before the fork, they will have free money, in the form of bitcoin gold, which in turn will also invrease the value of bitcoin, and hopefully more and more people will use bitcoin, now that there are a lot of good news coming, it only shows a lot of people trusts bitcoin.

[BitHodler]

I was thinking about that too, but we have to look at the major difference here, and that's the community and social media aspect ~ Bitcoin Cash had far more build up going on in the run-up to the actual split event.

It may be that people don't (yet?) care about Bitcoin Gold, or it's purely a bunch of whales prepping coins silently, but that's not very likely ~ increasing your Bitcoin positions because of Bitcoin Gold involves too much risk

Its basically gambling to buy yourself into Bitcoin just to make sure you end up getting more Bitcoin Gold. There is no way you upfront know what Bitcoin Gold is going to do in the market ~ it might not even top the 0.05BTC.

[figmentofmyass]

I was thinking about that too, but we have to look at the major difference here, and that's the community and social media aspect ~ Bitcoin Cash had far more build up going on in the run-up to the actual split event.

It may be that people don't (yet?) care about Bitcoin Gold, or it's purely a bunch of whales prepping coins silently, but that's not very likely ~ increasing your Bitcoin positions because of Bitcoin Gold involves too much risk

Its basically gambling to buy yourself into Bitcoin just to make sure you end up getting more Bitcoin Gold. There is no way you upfront know what Bitcoin Gold is going to do in the market ~ it might not even top the 0.05BTC.

there's no comparison between the two. bitmain spun off bitcoin cash in hopes that the bitcoin unlimited community was bigger than it really was. regardless of the economic activity on the network, bitmain is the biggest miner in the world, and bitpay and some major exchanges like bitfinex support it.

i haven't heard of any such support for the fork this month. 0.05BTC sounds like a longshot given that it doesn't seem to have any fundamental innovations or strong backing. their plan seems to be to capitalize on the current anti-bitmain sentiment..... come to think of it, that might work out for them.

[tokeweed]

What's up with all these forks?  It's making Bitcoin look like some sort of joke the devs can play around with.  And they're upping the ante a little by not having their forks any replay protection.  Maybe they saw that Bcash didn't have any serious disruption on the market, and now these f**kers want to make a statement.

Thanks for ruining Bitcoin.  Yay!

[1Referee]

What's up with all these forks?  It's making Bitcoin look like some sort of joke the devs can play around with.  And they're upping the ante a little by not having their forks any replay protection.  Maybe they saw that Bcash didn't have any serious disruption on the market, and now these f**kers want to make a statement.

Thanks for ruining Bitcoin.  Yay!

It's just another way of generating loads of money instantly - whatever happens, Bitcoin Gold will not cause Bitcoin any harm. Instead, as OP is also hinting at, it might, to some extent, cause the market to increase due to people anticipating on the "air drop" of another chain split shitcoin. I still haven't cashed out the BCC coins that are connected to my <2015 cold wallets, and there are no plans to do this in the future. Funny is that throughout the forum, you see people 'celebrate' that they might be getting more free coins due to this chain split - pretty much shows what people we are dealing with here. It's greed that dictates this market.