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Author Topic: Are SegWit2x (and Bitcoin Gold?) ponzi scheme(s)?  (Read 328 times)
rwfocke
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October 23, 2017, 09:32:48 PM
 #1

https://support.bittrex.com/hc/en-us/articles/115002320451-Statement-on-Bitcoin-Gold-BTG-
http://www.newsbtc.com/2017/10/23/51063/
https://99bitcoins.com/the-bitcoin-gold-hard-fork-explained-coming-october-25th/

Seems to me too good to be true.
So you are encouraged to buy BTC and keep them at BTG friendly exchanges.
You get one free BTG for each Bitcoin held at these exchanges.
Already, the other Altcoins are suffering as the BTC price surges.

I suspect the minute BTG goes live the BTG crowd will dump BTC that they have accumulated in the past from their mining activities.
This will drive the cost of BTC down as the effectively take the money from BTG supporters.
Unfortunately, this also includes investors who have no interest in BTG.

Since they presumably also control these exchanges they can simply prohibit you from selling (even if it is through seemingly-innocuous down/unavailable servers) during this period.

Two possible outcomes:
1. BTG network mass dumping of BTC drives BTC cost below BTG and investors switch permanently to the now more lucrative BTG.
Might not be likely unless there is widespread support for BTG.
2. BTC supporters counter dump BTG and ensure that BTC remains more lucrative.

Either way somebody stands to make a lot of money off their BTC dump even if BTG fails.
I think a similar argument applies to the SegWit2x hard-fork.

What does the community think? Any advice on both hard-forks and BTC investment during this time?
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October 23, 2017, 09:34:35 PM
 #2

They sound like it. I still don't understand where bitcoin cash got its value from and why its a top 5 coin.
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October 23, 2017, 10:35:43 PM
 #3

They sound like it. I still don't understand where bitcoin cash got its value from and why its a top 5 coin.
Bitcoin gold gets its demand from stole the demand form the bitcoin, as you can see bitcoin already had almost 100billion market capitalization which makes the bitcoin gold will be so easy to stole the interest through the free money.

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October 23, 2017, 10:39:00 PM
 #4

They sound like it. I still don't understand where bitcoin cash got its value from and why its a top 5 coin.
Bitcoin gold gets its demand from stole the demand form the bitcoin, as you can see bitcoin already had almost 100billion market capitalization which makes the bitcoin gold will be so easy to stole the interest through the free money.

Bitcoin is still much higher then it was pre bcc, and it recovered the price drop from bcc very quickly, so it still looks like money just came from thin air.
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October 23, 2017, 10:41:00 PM
 #5

This is crypto you have to be prepared for everything that is coming with it. Forks, ICOs all that is good and a bad thing, You need to find a balance between it and take as much profit as you can. These forks may be good long term, some of them will die, but some will push devs to work harder on their product

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jjdub7
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October 23, 2017, 10:41:46 PM
 #6

SegWit2x is having huge support from devs, exchanges, community in comparison to BTCG.
Bitcoin Gold is just a way to pull out some money from fishes around and nothing more. It's not solving any real problem.





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rwfocke
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October 24, 2017, 06:07:25 AM
 #7

Thanks for the help. I will stay away from BTG and reconsider my position on SegWit2x.
Seems it is mud slinging between the SegWit2x and SegWit crowds then that are driving a bad perception of one or the other.
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October 24, 2017, 08:23:57 AM
 #8

bitcoingold was created by the greedy whale and their main objective was to steal and not for the real development and enhancement of bitcoin ecosystem, but bitcoingold makes us happy also because they are allegedly giving away coin the same amount of what bitcoin you have stored but it depends on what wallet and exchange platform you may have. segwit2x are trying to help solve the problem of the bitcoin but there are so many opposition and it may lead to split or disbanded from bitcoin supporter.

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October 24, 2017, 08:24:19 AM
 #9

Thanks for the help. I will stay away from BTG and reconsider my position on SegWit2x.
Seems it is mud slinging between the SegWit2x and SegWit crowds then that are driving a bad perception of one or the other.
It is not very bad in my opinion as long as you can get bitcoin gold for free and that will be very safe for you to dump your bitcoin gold and run away with your profit just hit and run method for this moment.

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October 24, 2017, 08:29:50 AM
 #10

It seems like there's a chance it's true. Then there was a lot of speculation with BTG for a month. Which is right, which is very difficult to guess wrong.

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phr0stbyt3
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October 25, 2017, 01:12:30 AM
 #11

I wasn't completely interested in it so i had minimal funds of bitcoin kept in my wallet during the fork instead i bought many altcoins one of them being sc which is bought at 70 last week and again bought more yesterday at 60 current price is 73 but i already sold all at 78 I'm really happy I'm sure getting btg wouldn't give me more profit than trading

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