Strategy for the next fork

[Stellina]

What strategy you plan to follow during the next fork? Will you sell the altcoins on the eve of the fork?

[1715041514]

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[Athreos]

Everyone is expecting the hard fork to create a second Bitcoin Cash scenario, so everyone is doing the same thing to capitalize on it: stock up on as much bitcoin as possible for "free money". If everyone does it, no one is going to profit. Your best strategy will be to think about how you can capitalize on everyone else doing the same thing. Maybe Ethereum will pump as people flock back to ICOs for profits. Maybe the most popular Altcoins will thrive. All we can do is speculate and hope your strategy works out well.

[p3rplexamous]

What strategy you plan to follow during the next fork? Will you sell the altcoins on the eve of the fork?

I am a buy and hodler.  I keep everything off of exchanges, and deal with the fork after a few days after to skip out on as much confusion as possible.  As for the wallet, I look up videos on youtube on how to split the chains and then I lock everything back up. 

[HabBear]

If everyone does it, no one is going to profit.

Well I don't agree with this ^^^. But perhaps it's because I don't understand where Athreos is coming from. The fact that an airdrop will occur quite literally means everyone is going to profit.

Your best strategy will be to think about how you can capitalize on everyone else doing the same thing. Maybe Ethereum will pump as people flock back to ICOs for profits. Maybe the most popular Altcoins will thrive. All we can do is speculate and hope your strategy works out well.

I do agree with this. When something specific is temporarily driving the market to certain direction, there will be an opportunity to seize upon discount prices that are left in the wake of that moment of shift.

[pooya87]

first you wait until these forks become clear, meaning to wait and see what will be the result of the fork, is it a 100% fork (like SegWit activation after August) or is it going to split and create a new chain and the old chain will exist (like bitcoin cash).
if it is the former then you do nothing!

if it is the later you wait to see which is going to be called bitcoin (in other words which one has the majority support).
then finally you check to see if there is replay protection then and only then you spend those coins. otherwise you have to protect yourself against replay attacks manually.

for example bitcoin gold on October 25 is a clear altcoin but i don't know if there is replay protection or not. if there is, you just download their wallet (make sure it doesn't contain malware, better install it in a sandbox) and then claim the coins.

[kenikat]

May i ask, if you hold your coins on an exchange, can you still get the forked coins, or must it be a downloaded wallet?

[Whizz Coin]

Not all the exchanges will credit you with forked coins if there is a chain split. So the best strategy is to always keep it in your personal wallet and hold the private key

[cakra]

do not be consumed into the mass panic. do not also raw raw receive information that hardfork this time will be the same as the first hardfork ago. just keep some of it, and if in doubt sell partly. if i, because it only has altcoin so just monitor it.

[WildcatZA]

I was wondering if its better to buy alts at these lower prices and hope they even raise to normal levels. Couldn't this possibly be more profitable?

[LoyceV]

My strategy is simple: don't care too much

Think of it this way: first, there was Bitcoin. Then, people felt they "missed the train" to get it cheap, so they created altcoins. They hype their altcoin, make it go up in value 1000x, and sell it. That wasn't enough, so the newer altcoins used a premine: 5%, 10%, or even 90%. They earned a lot, until people started complaining about the premines and calling it shitcoins. Then, they created ICOs: instead of just premining and keeping it for themselves, they don't even create coins anymore, it's now "tokens" based on some other coin. The creator starts with not 5, not 10, not 90 but a full 100% of everything! And you can buy them. Take a moment to remember what you're buying: you're buying tokens created out of thin air with some unclear promise on future needs from a few unknown guys. I read ICOs earned $1.7 billion this year alone, it's the biggest hype in crypto ever! It's a great business model: earn money, forget about it, create the next ICO!
Now back to Bitcoin forks: it's the logical next step from people who want a quick buck: create something you have an advantage with, and convince people to buy it.

[end of short cynical altcoin history - by LoyceV]

Bitcoin Gold seems even less trustworthy than the rushed Bitcoin Cash fork. There's not much information about it, but there's only one reason to create any altcoin: make a PROFIT! I've read speculation about it, and wouldn't be surprised if it's true: the creators already took a snapshot, and have been premining ever since. When they finally announce their official fork, they'll be loaded in altcoins to sell off to anybody who buys them.

[Bytem3]

IMO you should read more about Bitcoin Gold and what does it actually mean before buying BTCs just so you can get Bitcoin Gold. Here's a really good article explaining it: https://coincodex.com/news/53/the-bitcoin-gold-fork-explained/

[Stellina]

Thanks for the replies! I will act according to the situation.

[satorusaito]

Since I think that many buyers will go into BTC before hard fork, is it better to keep Altcoin in BTC from now?

[m!llar]

you mean BCC bitcoin cash or bitcoin gold ?


Basically will wait till verify from new fork (news , sites , read more about it) then start

[zypa]

I also sold my altcoins for now and invested in btc. I have also included a 10% stop loss in case it goes down instead up as I am expecting.
You never know ...

[junoreactor]

I hope good things are coming after the fork for Bitcoin price 

[bhantom]

I prefer keep my bitcoins and look for grow any altcoin and maybe ethereum. Doing this same thing what other people is not profitable

[Immakillya]

We commonly get split coin after the fork. The distribution will be base on the amount you are holding in your wallet. For example, i have 10 bitcoin. I will get 10 bitcoin gold after the fork. So better save more bitcoin as much as you can because this will determine how much bitcoin gold you will receive after tye hard fork. That's a quick money for us. If you see the massive correction of the altcoin markets right now. It's because the volume of traders are going to bitcoin. Less work but huge profit. You only have to keep them on exchanges that support segwit2x in able to get free bitcoin gold.

I doubt bitcoin gold will be successful. I think people will just dump this after the distribution like what happen to bitcoin cash.

[Sewarlock]

you basically have two options

1)buy before the fork
2)buy after the fork

(same goes for sell in both cases), if you are worried the fork might mess things up, sell before the fork
if you believe the fork is a good addition to the coin and that it will be completed sucessfully, sell after the fork

[Stellina]

Thanks guys! I agree that each fork carries a lot of surprises,but it is even more interesting!