Hello everyone.
I saw a lot of people talking about how to cash on the days of every hard fork (lots of them these days hehe)
I have some ETHs and i want to know. If for example i make them BTC 1-2 days before the fork is this going to be for example 3BTC + 3(newbitcoin) ? So the +3 is just profit?
It seems just and easy way to make money so i want to know if i am missing something.
Are there any dangers around it?
It's more dangerous that you would think, and overall you are more likely to loose money than profit.
What would probably happen is that you would buy 1 BTC now at $6500. The day before the fork BTC will probably be around $7200. Fork will give you 1 coin that will probably be worthless because of the numerous forks that have been going on (e.g. Bitcoin Gold is now trading at $150, while it started around $450). As soon as fork happens, you will see a massive BTC dump, which will probably get BTC at around $4500, maybe even $4000.
So what do you end up with? 1 BTC worth $4500, and a new coin that will be worth up to $300 and will be dumped by everyone who had the same idea as you = $4700. In this scenario, you lost just under $2000.
What you can do is:
1. Buy BTC now, sell it the day before the fork at its ATH;
2. Buy alts few days before the fork, most of them are at -30-50% of what they were before all of this non sense with forks, they will eventually go back up to their respective levels;
3. Short BTC on Bitfinex couple of days before fork.
If my analysis are to be believed, these 3 methods will bring you much more profit than joining the fork train.
