What will happen to Bitcoin after August 1st?

[acc6co]

Due to all news what do you think?

The good news is that each bitcoin would effectively be copied to both chains. If you hold bitcoin right now, you will hold both 148 BTC and Legacy BTC after the split.

The bad news is that this coin-split can be messy and risky. And if you’re not careful, you could lose funds.
First off, be aware that a chain-split create a high-risk situation. There is a chance that some sort of cyber-battle will break out between the two camps, perhaps even escalating to the point where bitcoin’s exchange rate(s) drops sharply, possibly to zero. Make absolutely sure you are not holding more value in bitcoin than what you are willing to lose.

If you do decide to hold onto your bitcoins, the single most important piece of advice is this: Ensure that you control your own private keys.

 

[Chiefjop]

I think this is a nice guide on August 1; https://bitcoinmagazine.com/articles/bitcoin-beginners-guide-surviving-bip-148-uasf/

It explains many of the different options and has a nice countdown (here) which makes it easy to track progress and what to do.

 

[tycoo]

Faith In Bitcoin:
For the blind who cannot see. bitcoin is entering the second phase, you guys need to understand, when this is all over most of the people who heard about bitcoin will have FAITH in BITCOIN . "BUY or HOLD" you've been WARNED..

 

[Sherb]

Faith In Bitcoin:
For the blind who cannot see. bitcoin is entering the second phase, you guys need to understand, when this is all over most of the people who heard about bitcoin will have FAITH in BITCOIN . "BUY or HOLD" you've been WARNED..

This is an example of the type of person this silly fake cryptocurrency fad is creating. Let it go, you've been WARNED.

 

[HostStage]

I'm not a crypto expert, I'm just doing my homework about it as we accept them on our website and not being a financial company so not going any further, (aka not allowed to trade our only options is to hold or sell).

On the august 1st, no matter how @tycoo turned it, we will be selling prior to the potential fork. Why ?
Simply because some have to shout out loud that there is no big deal, it means there is a big deal / fear in most of the others people and that's how the market reacts -> collective assumptions. Being the smarter one in understanding how things works, doesn't pay off in trading. So will not be taking the risk to hold on Bitcoins which is more likely to drop in value in the mid term.

That being said, on a more long term point of view, the node's blockain will progressively eventually be for the great part upgraded to bitcoins V2 so buying could be profitable.

Don't take this as golden though. Just 2 cents

 

[Alexis_Machin]

Do you think Bit will go down in August?

 

[Deleted member 719276]

Do you think Bit will go down in August?

no no dear it go for a summer trip to Alaska, then come back.

 

[bartosimpsonio]

The good news is that each bitcoin would effectively be copied to both chains. If you hold bitcoin right now, you will hold both 148 BTC and Legacy BTC after the split.

You'll have 3X coins : the original and the two forked ones. Some wallets like Coinbase say they'll continue to use the original BTC.

The bad news is that this tends to split the value in 3. Bitcoin itself will become an altcoin.

 

[shenski]

The sensation is great with these cryptocurrency, to see where the balloon will burst ..

I think it will keep the price of the BTC down where it is now at least the end of the year.

 

[laur.laurix]

judging by the pump happening right now I think btc will drop in august.

 

[Parrotae]

Silent mood for now.

 

[HoNeYBiRD]

I'm more curious what the fuck is happening to the USD. It's taking a dive in the past couple of weeks and just getting weaker and weaker. Not good when i earn in USD and spend it in my domestic currency.

 

[davids355]

I agree with @HostStage - down in short-mid term, up in the long term.

I'm holding now and if it goes way down on Aug 1 I might buy some more.

But I'm no fool, I appreciate that it could be gone and done by Aug 1. But that's investment all over - risk vs reward so don't put in anything if you can't afford to lose it.

 

[Parrotae]

Highly risk for the investors, just ry and put off what you have before then because if bitcoin succeed fine , but it will decrease to the lowest.

 

[HostStage]

I'm more curious what the fuck is happening to the USD. It's taking a dive in the past couple of weeks and just getting weaker and weaker. Not good when i earn in USD and spend it in my domestic currency.

+1 !! I think we can correlate this to Trump and his policy. Every time that guy tweets USD looses in value...

I agree with @HostStage - down in short-mid term, up in the long term.

I'm holding now and if it goes way down on Aug 1 I might buy some more.

But I'm no fool, I appreciate that it could be gone and done by Aug 1. But that's investment all over - risk vs reward so don't put in anything if you can't afford to lose it.

Good Strategy indeed