Do I heed to do something with my coins before and if there is a fork? - page 2.

HabBear

hero member

Activity: 1106

Merit: 638

Your question is a great one, however it only applies if you own your wallets (which most people do). It would not apply to wallets held with Bitcoin banks, like Coinbase, Xapo, Circlee, or Freebitco.in.

What ever you do, don't follow this guy's advice...

Quote from: QuestionAuthority on March 22, 2017, 05:10:24 AM

You could do what I did. Sell every coin you have and wait until the community gets their heads out of their asses then buy them back later, maybe.

The community has been debating whether and how to fork for over a year now. If you'd been out of the Bitcoin market for that long you'd miss all the appreciation of price we've seen over the last year.

A smarter move, if you're really worried about the coins setup post fork, is to convert your coins to a Coinbase, Xapo, or Circle account. They'll take of all of this for you.

cryptohunter

legendary

Activity: 2100

Merit: 1167

MY RED TRUST LEFT BY SCUMBAGS - READ MY SIG

put half into good alts and enjoy the profits

Xester

hero member

Activity: 994

Merit: 544

Quote from: MrCrabs on March 22, 2017, 03:49:16 AM

Hi All
Simple question.
Do I heed to do something with my coins before and if there is a fork or any other change?

Thanks

It all depends on you on how to use your bitcoin. If you trust that bitcoin will most likely continue to increase in value amidst the crisis then dont do anything. But if you are afraid of the price meltdown then the best choice for you is to sell your bitcoins and convert it to dollars. After which if the price is stable or when the price is very low you can buy bitcoins again so when the price spiked again you will profit more.

Remember there is profit on volatility.

BigBoom3599

sr. member

Activity: 462

Merit: 250

You can do as QuestionAuthority says, or you can just put all your coins on a paper wallet, once a fork has occurred you'll have coins on both chains (x amount of BTCC and x amount of BTCU) you can then choose your actions on which chain has the majority.

QuestionAuthority

legendary

Activity: 2156

Merit: 1393

You lead and I'll watch you walk away.

You could do what I did. Sell every coin you have and wait until the community gets their heads out of their asses then buy them back later, maybe.

Senor.Bla

sr. member

Activity: 280

Merit: 253

Quote from: MrCrabs on March 22, 2017, 03:49:16 AM

Hi All
Simple question.
Do I heed to do something with my coins before and if there is a fork or any other change?

Thanks

This depends how it will play out. But before a possible fork you don't need to do anything so far. After the fork there might be some actions required (to separate your coins), but we will have to see. Just inform yourself before you want to move/spent the coins.

MrCrabs

full member

Activity: 121

Merit: 100

Hi All
Simple question.
Do I need to do something with my coins before and if there is a fork or any other change?

Thanks

Topic: Do I heed to do something with my coins before and if there is a fork? - page 2. (Read 1196 times)