Is selling BTC foolish because there are forks?

[jerry0]

If you held btc earlier, you got bitcoin cash equivalent.  Then there is bitcoin gold.  And i also heard there is a bitcoin diamond and also there will be more forks later on.  I have not claimed my bitcoin cash nor bitcoin gold yet.   But those people who sold their bitcoin cash when they first got it would have sold it for at least 250 at the minimum with most sellers selling it at 300 or more.  I know there are ppl that sold it for 500+.  Now the price is even higher etc.


I had asked about selling my btc for altcoins and some people said that is good idea whereas most said it was bad idea because bitcoin will only go up.  But now the issue is if you sell any btc, you lose the value in the upcoming forks.  Because of this, i do not even want to sell any btc at the moment.


Does anyone know how many total forks will be there after bitcoin diamond?  I was surprised at bitcoin cash as this was the first fork.  Then when i heard about bitcoin gold... i thought wow thats like free money.  Then there is bitcoin diamond.  Will there be more forks upcoming and if so... when will these stop?  Because if there are always multiple forks, wouldn't you make decent money just holding the btc just for these forks?  I mean if you hold say 2 bitcoin... well you going to get a few hundred dollars each fork it seems?   Now imagine you had more.


However if this is the case, wouldn't it make sense to sell your bitcoin cash and bitcoin gold since holding it doesnt mean you get something else?  Thus actually selling it for bitcoin itself would be good idea because not only would you get btc... but you would be able to get more when the next fork comes?


So if i have bitcoin cash and gold, would you say its best to hold it?  Or sell it for bitcoin?  What about selling it for altcoins?  The reason i ask this is because there are lot of altcoins in the 10 dollar and under range but more specifically the under 5 dollar range where i want to get because my thought is it has more chance to 5x, 10x etc as oppose to bitcoin.  Obviously if you sell it, you want to sell it at the highest price with bitcoin cash and gold.  But in general... best thing to sell it for vs worst thing?  I would assume selling it for bitcoin is best choice?  Then it probably would be selling it for bitcoin and then get bank transfer so you have usd in your bank account?  Then the last would be altcoins since these are the most risky?  Because right now bitcoin cash and bitcoin gold are pretty high and im wondering if i should sell it for btc or btc to usd bank transfer or for altcoins.  Because there are lot of altcoins i want to buy... however i dont have enough money to do that right now.  If i cash out bitcoin cash and gold now, i could buy a good amount of altcoins that i wanted.

[retampan]

If I was you, I would buy an altcoin that has good future then invest on it. Like ethereum, litecoin or ripple. For the bitcoin fork, better to trading it. Bitcoin prices are really fluctuative as well as bitcoin fork.

[fanbeila]

First of all,i have not claimed any free BCH or BTG coins till now even when many people rushed to claim it.I'm already very much satisfied with bitcoin performance itself since bitcoin price has been marching towards $10,000.But if you have got free BCH or BTG coins,then selling them for bitcoins and holding them would be the best idea i think since as you said,you could claim more free coins in future as it has become a new trend of hard forks occurring nowadays.Another option is that you could even just hold your free BCH and BTG coins itself as its price is highly increasing.But don't ever try to sell them for altcoins since altcoin market is highly volatile and just stay away from that idea.

[Payne976]

If the forks are branching out in search of alternative approaches could it worth keeping them as you know they are backed by respected developers and are based on genuine design features that could make further significant breakthroughs for users.

[jseverson]

You could look at it that way, but for the most part, forked coins are useless. Bitcoin Cash is obviously enjoying success of its own, but I think that's only because there is a faction that believes it's the true Bitcoin, and there may be some people out there who disagree with segwit. People seem to have cooled off regarding the idea of forks. Bitcoin Diamond is barely generating buzz, and Bitcoin Gold is pretty much worth nothing. Not all forks will get support. If you were going to hold Bitcoin, forks shouldn't be your main consideration.

Does anyone know how many total forks will be there after bitcoin diamond?

Anyone can create their own fork, so no. I'm guessing there will be a lot, but most if not all of them will turn out to be trash.

So if i have bitcoin cash and gold, would you say its best to hold it?

I would personally sell, but that's entirely based on your prerogative. People who held Bitcoin Cash did get some profits, but you also run the risk of everyone else dumping, making it worthless.

[littlewizard]

Whether selling bitcoin is foolish or not is not because of the forks. The forks may have a bad effect to bitcoin in the short term, but in the long term it makes bitcoin even stronger.
The question is is it foolish to sell bitcoin now or hodl?

[SUDARMONO]

for when it will stop and how much the next number can not be ascertained, if the problem is to generate more bitcoin, you can trade or invest your bitcoin in coin altcoin with good coin coin like DOGE, ETH, and if you expect btc free from a hard fork, you sell altcoin to btc when hard forks appear, and it can get a lot of results

[Janation]

You have a point but it don't really work that way every time. Not all forks give free coin like what must happen in the cancelled fork this month.'

I suggest finding a good altcoin or token or ICO that have a potential to pump in the next few months. Holding altcoins is good and being popular this days because a lot of people are getting big profits out of it.

[junoreactor]

What's funny and ironic is lots of people are scared of these forks, and the more forks we see, the higher Bitcoin price rises. Go figure...
My opinion: those who bought Bitcoin and only Bitcoin should be fine, some companies sell the new coins and aim to credit the users with more Bitcoin.
Actually, I reckon the more we see forks in the game, and the more people will become aware of these manipulation attempts and will decide to hold their Bitcoin. I mean after ten, twenty, fifty forks, only a fool will still believe these forks genuinely want to improve Bitcoin and change the game for the better. You can try to go for it but don't be surprised if you get burned.

[jerry0]

Do you guys think selling bitcoin cash/gold is good idea?  I kind of want to sell gold... but not cash.  Because i hear people say it might even go higher?  Is that possible?

[chris molty]

I do not think that one day an alternative to bitcoin will replace it, no matter what name it has, on the contrary it creates confusion

[EcoChavCrypto]

Seriously do you think that the other forks like super bitcoin, bitcoin tnt, bitcoin diamond, and the other ones are worth it? they are a pain in the ass.

If you held btc earlier, you got bitcoin cash equivalent.  Then there is bitcoin gold.  And i also heard there is a bitcoin diamond and also there will be more forks later on. 

What are you waiting for? you can still grab that money for free. If you have less than 0.01 btc in your balance then you are doing it right, 0.01 of bcash is just $15 and 0.01 of btg are just four dollars.

I have not claimed my bitcoin cash nor bitcoin gold yet. 

Most people who holded those coins are the ones who probably did not claimed those coins before, or maybe they were not paying attention to the notices.

I know a friend who was not aware of bitcoin cash and bitcoin gold, and he had more than 2 btc on his balance

But those people who sold their bitcoin cash when they first got it would have sold it for at least 250 at the minimum with most sellers selling it at 300 or more.  I know there are ppl that sold it for 500+.  Now the price is even higher etc.

[SixOfFive]

I don't see any utility of these forks nor investors are much excited about it. So just resisting your trades coz of these shit forks are worthless. As now, many altcoins like LTC, Ripple, Iota has shown really positive projection so its better to earn profits by investing in them rather than keeping BTC just to have some shit hark forks coins for free.

[jerry0]

Can someone name the upcoming bitcoin forks?  I read there has been superbitcoin and a few others already.