There is So Much Confusion Regarding the Upcoming Changed in Bitcoin.
Personally I wish they would stop messing with my money but it looks like we will have to tolerate this crap. If you continue to hold Bitcoin during this transition I recommend you hold your keys which means setting up your own wallet on your computer or in a wallet like a Ledger Blue, Ledger Nano, Trezor or KeepKey. This way if a split in Bitcoin happens you don't miss out on the newly created coin.
I will not be doing this. I have taken all of my Bitcoin and converted it into altcoins like Steem, Stratis and Flashcoin. I wish everyone luck during the transition and I promise to bring you any information that will help you make decisions to keep your money safe.
thanks hilarski for your concern.i been following all your post especially regarding important information about virtual currency.. thanks you godbless
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Bitcoin has reached it's peak of being the market exchange boss and controlling the altcoins price. Steem and other cryptos need to have direct fiat exchanges.
I don't see that happening soon. We could still be a year or two away.
Once we have these exchanges, it will be a totally different story. Less risk plus more convenient way of getting into the crypto world. Especially through Steemit social media and Steem-based projects.
Actually, Bittrex has started offering trading pairs directly with USDT for some altcoins. Unfortunately, Steem is not one of those yet. But with the growth steem is showing, I would not be surprised if it is included soon.
Haha, kinda what the other fiat currencies feel about the USD
Just hoping litecoin get used more in other fiat exchanges like Coinbase
Bitcoin is also a social experiment and now let's see if the community can work in consensus
I particularly love Litecoin because it works much more harmonically than BTC.
Let's wait for the results ...
What about Dash? do you thing LTC and DASH will have a big break when bitcoin goes through all this?
That means we may get some direction after 21st july... Thanks @hilarski for sharing these important details.
I did the same. Moved a majority to steemit, some to stratis and some to pivx. My nano s's aren't arriving until the end of August anyways. ^_^
Thanks for the article, from what I understand most of the coming changes are all softforks and the only hardfork to happen is in november
That being said, I did the complete opposite as I dumped all my altcurrencies and bought BTC, bitcoin is still the dominant digital currency and you have seen all the market following BTC down in the last couple of days and most of the alts were dumped much more than btc, I do believe if the segwit acceptance goes through by August 1st then we will probably see BTC hitting ATH while the alts will follow slightly later, that's my theory and I can be wrong
Good luck
Completely agree, impact most surely will be higher for the alts than the BTC and people will trust more in it
It is more likely that no split will happen and the bitcoin price will climb to unprecedented levels.
One questions. Im also holding lot of alts. If they split that means their price splits too. So what happens to those altcoins that are tied to btc? If there are two, and the price halfs, my altcoins also loose half value?
No, your alts will be fine but they will likely fall in price.
Bitcoin splits to two or not it won't affect me since I have none. That's a relief.
PS: I wish it won't split and people will not lose their money.
@hilarski Hi , do you think the price of bitcoin will still go down a lot more ?
My prediction was $1800, we almost hit it and it rebounded but we are not safe yet.
Thank you, so you recon it can go down more than that ? What do you think of ripple for the long term ?
your guidance is so important, i am following you, up vote for you
I respect encouraging post like this, cause thier are a lot of confused people out there including myself. We all need a little good advice to make us calm.
Nice step by Step everything will be good.
With no doubt i believe this has been a huge contribution to the fall in bitcoin price and the trend will continue till this dust settles major coperations and individuals with big pockets are either holding on to their money or pulling out including the regular cryptocurrency holder which is normal for anyone in the crypotcurrency space my idea and escape plan to be safe from this hardfolk is to sell bitcoin and hold my funds in other cryptocurrency coins like steem, ethereum, dash , monero, litecoins and a few others or fiat currency that way you free yourself from unnecessary fatigue, stress and strain on your thoughts thanks for shring your insights with this diagram very much appreciated.
I think it is the best time to grab some coins specially steem , stratis like that, last weekend i brought some coins and waiting next weekend. and will get results in next September or October or even 2020 September. ha haa . I am holding them for long run, and it is a gift for me to buy some more with cheap prices , appreciate it lot for your nice explain.
We're going to talk about.. Check out our interviews:
https://www.youtube.com/blockshow
I think this could be effecting the Crypto Market at the moment 😎
Bitcoin may come back stronger
Thanks @hilarski - as a total crypto idiot can you tell me how this would me?
If you continue to hold Bitcoin during this transition I recommend you hold your keys which means setting up your own wallet on your computer or in a wallet like a Ledger Blue, Ledger Nano, Trezor or KeepKey. This way if a split in Bitcoin happens you don't miss out on the newly created coin.
Too much to explain but holding your Crypto in your own possession is always the best option. Do not leave Bitcoin on Coinbase or any other exchange.
I just organised a Ledger so I should be safe before August 1 - cheers buddy
What about DASH, to pass the bad time of BTC, I think that is a great option, Holders are not gonna sell as much as other altcoins because DASH offers Master Nodes, to holders that have more than 1000 coins any thoughts about that?
Dash is a good one but could take a healthy hit if Bitcoin does.
Do you think steem has reached a near bottom?
If I held Bitcoin I'd be following your lead in switching to altcoins
Timeline, what a "wish I thought of posting that" moment. Wish people would print this out, along with "don't panic, its over soon".
@hilarski...sooo many bumps ahead of us...
Great post!
Thanks :)
Thanks for this, I really appreciate your insights as we go through these tumultuous times... definitely not the summer doldrums in the cryptocurrency markets.
Great post, having trouble deciding where to keep my money right now so I appreciate the time diagram.
Hey, I have not seen you around in a while! Welcome back.
Yeah I had a period of absence from getting to busy with other things, jobs and other things. Been trying to find ways to make money. Ironically when I returned to steemit the price went up and now I do have money :) If I would have been more consistent with posting I would probably have more :p Thanks, glad to be back!
It look like too complicated for me a newbie... But anyway thanks for info sharing...
Are you not holding any Dash, Eth, Digibyte, or EOS?
Nope, none of them. Only Steem, Stratis and Flashcoin.
great info, i did good then bought steem
Why did you choose these ones?
The answers would be whole posts.
I'm looking forward to read your next posts
Is this hardfork causing the price of bitcoin to drop drastically?
It is definitely contributing to it.
When price are low, it would be a good time to buy.
Yes.lots have temporarily side stepped btc.
I am also converting all my bitcoins to steem.
Great post thankx @hilarski for sharing these important infos
Very useful information hilarski in this days of chaos
Thanks, I also convert other coin.
Hey, You even put a BTC Diagram. That can help a lot!
Thanks for your help man!)
Hi Randy do you know of any coins that also have something cool backing it that you don't need a phd to do like with etherium? Upvoted and followed you.
I think Steem is pretty easy to understand once you have used it. My upcoming favorites are EOS and Guld.
Thanks for this important information.
thanks for this awesome post , you have answered a lot of my questions here and i hope that thing progress in the crypto space as we enter into hard fork stages
Thanks for sharing this, i am new to this cryto world and some of this stuff is very confusing, i always appreciate these types of articles to help me understand bitcoin better. One question if i wanna purchase a nano will i be able to store all types of coin? or is it just Bitcoin, Ether, and Litecoin. Upvoted followed and resteemed:)
Thanks for the diagram.
It is helpful. There are many people who have no idea what to do or what is actually going to happen. They are living in fear.
This is the clearest diagram I've ever seen concerning the upcoming events. This makes much more sense now, thanks.
Thanks @Hilarski , it seems like almost everyone is seeing their voting power diminish to near nothing ( at least for minnows like myself). The fact that the market is so low, and the fear regarding the upcoming Bitcoin fork is also turning people into "Chicken Little". The sky IS NOT falling people. We'll make it through. Just be smart and use all of your common sense. Thanks for the information buddy.
I hope that there is a smooth transition and thank you Randy for the suggestion of holding onto our keys. I'll probably get round to setting up my own backup wallet in case anything goes sour.
Thanks for the bitcoin diagram, it clears up a few problems that I've been having with understanding segwit and the hardforks.
Good Luck everyone! haha
With the prices of alts suffering much more than Bitcoin, it's hard to hold an argument against stocking up on good quality alts. Thanks for sharing the visual aid.
Good luck to everyone! I'll be hodling
@Dan thanks for stopping by! Will you be coming to SteemFest this year?
this august 1st segwit2x stuff is really causing the market to drop hard.
That is one clear diagram. I believe this might help a lot of people to make things clear. I resteemed it. Thanks.