I think whatever decision one makes regarding the HF has to be in line with your goals, like you stated. I'm not comfortable having my BTC on an exchange, so it's staying in cold storage and I'll wait on the sidelines to see how things shake out and act accordingly.
You touch on a topic which I feel is so very important with investing like it is in all aspects of your life, which is "having a plan." You can't get where you're going if you don't know where you're going to. Simply put, if you fail to prepare, you prepare to fail.
My thoughts exactly when I read @birdinc saying the price will tank.. although I agree if I had to make a guess Bitcoin will drop as a bunch of people holding it now prefork will dump it afterwards, I think long it will definitely bounce back and then some. We'll just have to HODL (ugh, I hate typing that but kinda have to lol) out for a month or three while Bitcoin recovers.
In other words, either way Bitcoin will eventually be back flying high. I'm in this for the long term!
not a bad strategy, I might do the same... haven't seriously thought about what I'll do with my BCC yet. Can't go wrong with selling 50% and hedging your bets either way.
Thanks for sharing that! Interesting read.. I think I'll definitely sell some of my BCC as well, although it probably won't be as much as 50% ..not sure,maybe 20 or 30%. Fingers crossed for both of us! Oh and following you now by the way :)
So true man!!! Don't budge because something is happening... I'm going to wait till after the hard fork to see if something drastic happens...
Maybe deep down I'm going that Bitcoin crashes to a SUPER low so I can buy in again ;) But no one can really tell - we'll just have to wait and see...
As I just said in my comment above, I think BTC will most likely drop a bit after people dump post fork...however, from watching some videos on youtube analyzing charts (too lazy to do it myself haha) they were saying how recently the roughly $2500 floor has held, so there's a good chance even after the fork it wouldn't go much lower than that...of course, who knows for sure?! The only thing that IS for sure is that next week won't be boring.
The next week most certainly won't be boring 😜😜
It is amazing how the price has held this week - I also thought it would have dropped by now - I mean, it's only a few hours away 😳
And here I though people would be scared that Bitcoin was going to "die" - haha - I guess the average Bitcoin user is a lot more educated these days... Good to see though...
quick update to this - as you may have already noticed we do see a very slight BTC dip (just under $2700 at the time of this comment), but the $400+ Bitcoin Cash price more than makes up for that assuming you're holding both!
BTC dipped a lot less than I though!!! Maybe it will still in the future? We really can't tell...
BCH is growing though - also maybe a little unexpected. I'm going o hold onto both and then, sometime off in the future, we'll see who the stronger chain will be. Don't want to take too many chances now...
It really depends on your goals. I just keep buying when I can and holding F trading until my coins can be secure. Hold all your coins offline if you can. I think some of the kids have never heard of e-gold?
Absolutely, whether one is a day trader or in this long term (let's say for AT LEAST a year). I definitely belong in the latter category so I'll be weathering the storm. Sounds like you're in the same boat - cheers to that!!
PS - How do you hold your altcoins offline? Besides the biggest ones like Litecoin, Dash, Eth, a lot of others aren't featured in too many wallets AFAIK
Oh ok, gotcha.. yeah I have way too many altcoins to keep in wallets so I just store my main BTC and LTC in a wallet (Exodus) along with a very small amount of Dash, EOS, Augur, and Golem.
I guess I will sell a little bit of the BCC and hold the rest just in case there will be a huge pump, after the potential dump we might see tomorrow :)
I totally agree. Bitcoin is now in stormy waters. Maybe it jumps up or it hits a correction or crash. To me it seems a good time in November but we'll see. I'm patient, timing is gambling.
I think the best thing now is to hold on any crypto currency we have. Especially that lot of them dropped a lot.
Maybe trade one altcoin that raised much till buying time, but i doubt that can be the situation now :-).
We must watch what will happen every day after august 1st, to see what happens. The first week will be important for the start, then for what they will do.
And why would be greedy to sell altcoins to have bitcoin? Isn't it what makes this market alive? The tradings? Hunches on what goes up... and sell then, then buy low? :-))
The problem is to not have a surprise. To drop too much, or something bad happeing... in the rest, trading is the thing.
Good question because I was wondering about this today too! I opted to sell everything that is not here in Steem Power or savings! My only buying plan is to grab more Steem if the price goes down!
By "sell everything", do you mean sell your altcoins for Bitcoin, or move into fiat? In the enormous cryptoverse where one altcoin can be sold for BTC or another altcoin, "selling" has a much more fluid meaning, heh.
When I sell, it's usually just trading BTC for an altcoin or vice versa. I'm keeping my commitment to the cryptos and not planning on moving that back to fiat for the forseeable future/ever.
Oh wow, I know you're "all in" on Steem, but surprised you didn't want to take a chance on a bit of BTC pre-fork... oh well, you can't go wrong with Steem either way.
You are a wise person. Patience is a virtue and probably the most important part about investing in anything. Great post. Your point about Ethereum is a good one too.
As far as I know this is probably one of the most rational summaries I've read over the centuries. Completely agree unless my top bet list differs slightly in weighting. But hey, I'm writing here. I am passionate and biased! And be amazed at you
I think whatever decision one makes regarding the HF has to be in line with your goals, like you stated. I'm not comfortable having my BTC on an exchange, so it's staying in cold storage and I'll wait on the sidelines to see how things shake out and act accordingly.
You touch on a topic which I feel is so very important with investing like it is in all aspects of your life, which is "having a plan." You can't get where you're going if you don't know where you're going to. Simply put, if you fail to prepare, you prepare to fail.
Price is going to tank big time by the end of the week!
love this - much hope indeed!
Patience very much a virtue!
I see better prices down the road... Just like you said "Patience"... Let's be greedy 😂🤣
My thoughts exactly when I read @birdinc saying the price will tank.. although I agree if I had to make a guess Bitcoin will drop as a bunch of people holding it now prefork will dump it afterwards, I think long it will definitely bounce back and then some. We'll just have to HODL (ugh, I hate typing that but kinda have to lol) out for a month or three while Bitcoin recovers.
In other words, either way Bitcoin will eventually be back flying high. I'm in this for the long term!
Guys, I did an analysis of four strategies for tomorow. You can read it here https://steemit.com/bitcoin/@cryptogirl1/four-bitcoin-strategies-for-1st-august-explained
Sell 50% instant and hold on to the other 50%
not a bad strategy... but do you mean sell the bitcoin, bitcoin cash, or both?
BCC . I take the gamble with holding 50% for the bumb back after the masses are done dumping.
not a bad strategy, I might do the same... haven't seriously thought about what I'll do with my BCC yet. Can't go wrong with selling 50% and hedging your bets either way.
Read about posobilites and strategies fpr tomorow here https://steemit.com/bitcoin/@cryptogirl1/four-bitcoin-strategies-for-1st-august-explained
One of them is hedge :-)
Thanks for sharing that! Interesting read.. I think I'll definitely sell some of my BCC as well, although it probably won't be as much as 50% ..not sure,maybe 20 or 30%. Fingers crossed for both of us! Oh and following you now by the way :)
So true man!!! Don't budge because something is happening... I'm going to wait till after the hard fork to see if something drastic happens...
Maybe deep down I'm going that Bitcoin crashes to a SUPER low so I can buy in again ;) But no one can really tell - we'll just have to wait and see...
As I just said in my comment above, I think BTC will most likely drop a bit after people dump post fork...however, from watching some videos on youtube analyzing charts (too lazy to do it myself haha) they were saying how recently the roughly $2500 floor has held, so there's a good chance even after the fork it wouldn't go much lower than that...of course, who knows for sure?! The only thing that IS for sure is that next week won't be boring.
That's how i feel too!
The next week most certainly won't be boring 😜😜
It is amazing how the price has held this week - I also thought it would have dropped by now - I mean, it's only a few hours away 😳
Nope, everyone is hodling (yes, that's not a typo) on until they get their Bitcoincash... then after that, we might definitely see a bitcoin dip!!
And here I though people would be scared that Bitcoin was going to "die" - haha - I guess the average Bitcoin user is a lot more educated these days... Good to see though...
quick update to this - as you may have already noticed we do see a very slight BTC dip (just under $2700 at the time of this comment), but the $400+ Bitcoin Cash price more than makes up for that assuming you're holding both!
BTC dipped a lot less than I though!!! Maybe it will still in the future? We really can't tell...
BCH is growing though - also maybe a little unexpected. I'm going o hold onto both and then, sometime off in the future, we'll see who the stronger chain will be. Don't want to take too many chances now...
I want to get some bitcoins in cash and put them off. Let wait a couple of months until it becomes clear what price.
I totally agree with your point of view. The best thing we can do is to be cool . Your Ethereum example says it all !
amazing post
Thanks for Share!
It really depends on your goals. I just keep buying when I can and holding F trading until my coins can be secure. Hold all your coins offline if you can. I think some of the kids have never heard of e-gold?
Absolutely, whether one is a day trader or in this long term (let's say for AT LEAST a year). I definitely belong in the latter category so I'll be weathering the storm. Sounds like you're in the same boat - cheers to that!!
PS - How do you hold your altcoins offline? Besides the biggest ones like Litecoin, Dash, Eth, a lot of others aren't featured in too many wallets AFAIK
I have a ledger wallet I have litecoin and ether and Bitcoin in it. Those are the only ones I have so far Oh and Potcoin which is online ;-(
Oh ok, gotcha.. yeah I have way too many altcoins to keep in wallets so I just store my main BTC and LTC in a wallet (Exodus) along with a very small amount of Dash, EOS, Augur, and Golem.
Hold your phone sideways my man!
I guess I will sell a little bit of the BCC and hold the rest just in case there will be a huge pump, after the potential dump we might see tomorrow :)
I totally agree. Bitcoin is now in stormy waters. Maybe it jumps up or it hits a correction or crash. To me it seems a good time in November but we'll see. I'm patient, timing is gambling.
I think the best thing now is to hold on any crypto currency we have. Especially that lot of them dropped a lot.
Maybe trade one altcoin that raised much till buying time, but i doubt that can be the situation now :-).
We must watch what will happen every day after august 1st, to see what happens. The first week will be important for the start, then for what they will do.
And why would be greedy to sell altcoins to have bitcoin? Isn't it what makes this market alive? The tradings? Hunches on what goes up... and sell then, then buy low? :-))
The problem is to not have a surprise. To drop too much, or something bad happeing... in the rest, trading is the thing.
Talking about news, i made a post asking where you read your news about crypto currency world here: https://steemit.com/bitcoin/@ilvstranger/bitcoin-and-altcoins-news-what-sources-you-read-and-think-are-objective-for-crypto-news-especially-after-bitcoin-fork-august-1st
If you can, please share a thought. Thanks.
Congratulations for your excellent post, I invite you to follow us and we grow faster, greetings
I agree with you ..
Good question because I was wondering about this today too! I opted to sell everything that is not here in Steem Power or savings! My only buying plan is to grab more Steem if the price goes down!
By "sell everything", do you mean sell your altcoins for Bitcoin, or move into fiat? In the enormous cryptoverse where one altcoin can be sold for BTC or another altcoin, "selling" has a much more fluid meaning, heh.
When I sell, it's usually just trading BTC for an altcoin or vice versa. I'm keeping my commitment to the cryptos and not planning on moving that back to fiat for the forseeable future/ever.
I sold everything but Steem to fiat!
Oh wow, I know you're "all in" on Steem, but surprised you didn't want to take a chance on a bit of BTC pre-fork... oh well, you can't go wrong with Steem either way.
I am patient, never liked "greedy" actions! I keep my nice balance 🐬 in my wallet.
You are a wise person. Patience is a virtue and probably the most important part about investing in anything. Great post. Your point about Ethereum is a good one too.
Thanks @nanzo-scoop for the helpful article! I will be glad if you enjoy my work! I appreciate your support.
https://steemit.com/photography/@olga.maslievich/the-best-flower-of-the-day-for-wednesdayyellow-bumblebee-in-pumpkin-flower-4-original-photos
As far as I know this is probably one of the most rational summaries I've read over the centuries. Completely agree unless my top bet list differs slightly in weighting. But hey, I'm writing here. I am passionate and biased! And be amazed at you
