Topic: Bitcoin Strategy amidst the looming BitcoinGold Fork? - page 2. (Read 604 times)
The price of bitcoin has been growing too long, it's time to Down.
Hello fellow coinsters!!! I have been contemplating my Bitcoin strategy throughout this fork event.
My first move was to cease trading altcoin, starting about the 19th. Phew! Looks like that was a smart move from all the falling knives today.
Now, my planned moves WERE as followed:
1. Cease trading altcoin one week before fork. Check.
2. HODL the Bitcoin throughout the forking event (10/25 - 11/01).
3. After the event, move the Bitcoin into fiat for temporary safekeeping, as Bitcoin may lose a lot of value after the fork.
4. Dump the BGold and collect the ca$h.
5. Pickup cheap altcoin after the fork!
Sounds great, right? Well. There are some ISSUES with this method. The issues are:
1. I cannot find a stable or trustworthy BGold wallet. Has anyone found one? I imagine there will be many shady wallets out there, just waiting to rip off our precious coins.
2. Will the price of Bitcoin really go down after the fork? With the Segwit 2x split following closely after, I don't think there will be as big of a dump as I originally thought. It may go down a couple hundred bucks, only to pickup momentum again.
3. The above is the "herd mentality". I think everyone plans to follow this strategy. Isn't it best to move against the grain to win?
4. Will BGold have value after all the dust settles? I think there are a lot of GPU miners out there just waiting to put their hardware back to work. Of course the coin will DUMP right out of the gate, but maybe it is wiser to HODL for a while?
So, what is your Bitcoin strategy? Do you agree with my findings above? Or should I stick to the original plan?
This should be interesting!
My first move was to cease trading altcoin, starting about the 19th. Phew! Looks like that was a smart move from all the falling knives today.
Now, my planned moves WERE as followed:
1. Cease trading altcoin one week before fork. Check.
2. HODL the Bitcoin throughout the forking event (10/25 - 11/01).
3. After the event, move the Bitcoin into fiat for temporary safekeeping, as Bitcoin may lose a lot of value after the fork.
4. Dump the BGold and collect the ca$h.
5. Pickup cheap altcoin after the fork!
Sounds great, right? Well. There are some ISSUES with this method. The issues are:
1. I cannot find a stable or trustworthy BGold wallet. Has anyone found one? I imagine there will be many shady wallets out there, just waiting to rip off our precious coins.
2. Will the price of Bitcoin really go down after the fork? With the Segwit 2x split following closely after, I don't think there will be as big of a dump as I originally thought. It may go down a couple hundred bucks, only to pickup momentum again.
3. The above is the "herd mentality". I think everyone plans to follow this strategy. Isn't it best to move against the grain to win?
4. Will BGold have value after all the dust settles? I think there are a lot of GPU miners out there just waiting to put their hardware back to work. Of course the coin will DUMP right out of the gate, but maybe it is wiser to HODL for a while?
So, what is your Bitcoin strategy? Do you agree with my findings above? Or should I stick to the original plan?
This should be interesting!
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