Situation
So afaik Bitcoin Cash is gonna fork themselves a coin on August 1st and one that you get BCC coins from, equal to the amount of BTC. The price of BTC may initially dip and BCC might never make it, when considering a timeframe of months.Choices
Now say you have 1k fiat, and you're gonna spend it on crypto either was. Do you invest in BTC beforehand, or something unrelated and ""secure"" like ETH.
Question
What do you do?Is having more BTC on August 1. a good or a bad thing?
I'm really interested in your opinion
@qed
Well if you have BTC in your wallet before the fork, you will have equal amount of coins on both blockchains after the fork.
Well sure, but the question is how the miners split and how the money diverges and evolves. The question is holding BTC and seeing it doubled is eventually a gain or a loss.
It is interesting. If you take Ethereum, that is now 2 different coins. If you cashed out both directly after the fork would that have made a profit or did the price dump before hand?
ETC is now about 15$ and ETH is about 15·ETC.
So both eventually grew in dollar terms, so cashing out in dollar would have been bad.
But it's worth comparing the effective exchange rate to see at which point in time - if at all - one should have traded ETC for ETH.
Sounds like segwit has been agreed though so might be that the old chain dies real quick. I don't hold any BC :(
Last time I really though about buying in it was at $100. Feel so dumb now lol
Well, if you have the means to buy crypto, if you buy ETH on the last day of this month, it's almost guaranteed to make you money. I'd bet quite a bit that it will eventually go up to 230$ again, but because of the August first spiel, it will keep falling this week.
Of course this is just an opinion too.
This post has received a 2.71 % upvote from @booster thanks to: @qed.