How are you hedging the upcoming Segwit2x fork? - page 3.

ChromaticStar

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Activity: 217

Merit: 100

Quote from: limopc on September 22, 2017, 09:08:58 PM

I am completely new and not that techie, so will appreciate your guidance.

In November, which coin wil split or fork, is it bitcoin, or Bitcoin Cash?
Will it be another SegWit, or an increase in the block size?

There will be a new currency I understand. It wil be like the previous split and holders of bitcoin BTC wil receive an equal amount of the new currency? Or the holders of Bitcoin Cash will receive the new currency?

Sorry if I am asking “silly” questions, I am just a few days old with crypto.

Don't feel too bad, I can't fully understand why there is a disagreement in the first place. Considering neither side wants to back down, I'm at a loss and clearly missing something big.

The current BTC will fork in November into two chains that have different consensus; BCH is unaffected by this. One will use the current BTC consensus rules and continue as normal, the other will adopt Segwit2x and use a different chain with a common history.

If you own BTC you probably don't have to do anything. I would recommend you withdrawal all your BTC to an address for which you control your private key. You will automatically have coins on both chains in this case. If you leave them on an exchange, it is up to them which coins you get; you may get just one chain or both. You may need to be extremely careful about how you send them though in the early days of a fork. When ETC forked (or whatever you want to call it) from ETH, there were replay attacks and some users lost coins. If it forks similar to BCH, there was good replay protection and everyone was fine. Just be careful, follow developments and you should be fine.

limopc

member

Activity: 98

Merit: 10

I am completely new and not that techie, so will appreciate your guidance.

In November, which coin wil split or fork, is it bitcoin, or Bitcoin Cash?
Will it be another SegWit, or an increase in the block size?

There will be a new currency I understand. It wil be like the previous split and holders of bitcoin BTC wil receive an equal amount of the new currency? Or the holders of Bitcoin Cash will receive the new currency?

Sorry if I am asking “silly” questions, I am just a few days old with crypto.

ChromaticStar

full member

Activity: 217

Merit: 100

Quote from: wxa7115 on September 22, 2017, 06:30:24 PM

First of all there is not going to be a legacy BTC, it is simple BTC, the original chain that is all, segwit2x is just another altcoin that is all, and if they decide to make that suicide move then I will enjoy the free coins that I will get and sell them no need to do anything else.

Quote from: thejaytiesto on September 22, 2017, 06:38:36 PM

You know the drill, dump the segwit2xcoin when the opportunity presents itself. This shit can't win, if it does im quitting bitcoin. If bitcoin can be coerced by bribing miners and exchangers with fiat money what's the fucking point? it's over. I guess I would just stick around in case someone comes up with a true bitcoin killer that can't resist vector attacks such as segwit2x and any other hardforks of similar nature. I would need a strong bitcoin to buy that tho, so lets hope the price doesn't go to hell.

I think segwit2x will end up like BCash. If bitcoin's immune system is strong it should get rid of it.

Hard to see in as just another altcoin. Currently, the New York Agreement (Segwit2x) has 95% support among the hashing power:

https://blockchain.info/charts/nya-support

I think day one BCH had only something like 2% of hashing power.

2x will be the clear winner for miners and many exchanges. I don't know what can really be done or what else to say, but we are definitely headed for another fork. Cryptos are here to stay, so if we don't want this, then we need to find another coin to support and hedge.

susila_bai

hero member

Activity: 1260

Merit: 524

Quote from: ChromaticStar on September 22, 2017, 02:00:26 PM

It is probably a baked in reality at this point the we will have 3 Bitcoins in a few months after BTC forks again into a Legacy BTC and 2x BTC. This fork is looking to be more tumultuous than the BCH fork and we don't even know the details of any upcoming fork yet.

How are you going to hedge this event? Buy LTC? ETH? XMR? DASH? maybe BCH?

I hate all this childish bickering, but we should all start to place our hedges.

Mostly it will be another option of getting a new bitcoin copy of altcoin and what other said is true that it will be free money to earn, so this time no one will be feared by this news.

thejaytiesto

legendary

Activity: 1358

Merit: 1014

Quote from: ChromaticStar on September 22, 2017, 02:00:26 PM

It is probably a baked in reality at this point the we will have 3 Bitcoins in a few months after BTC forks again into a Legacy BTC and 2x BTC. This fork is looking to be more tumultuous than the BCH fork and we don't even know the details of any upcoming fork yet.

How are you going to hedge this event? Buy LTC? ETH? XMR? DASH? maybe BCH?

I hate all this childish bickering, but we should all start to place our hedges.

You know the drill, dump the segwit2xcoin when the opportunity presents itself. This shit can't win, if it does im quitting bitcoin. If bitcoin can be coerced by bribing miners and exchangers with fiat money what's the fucking point? it's over. I guess I would just stick around in case someone comes up with a true bitcoin killer that can't resist vector attacks such as segwit2x and any other hardforks of similar nature. I would need a strong bitcoin to buy that tho, so lets hope the price doesn't go to hell.

I think segwit2x will end up like BCash. If bitcoin's immune system is strong it should get rid of it.

wxa7115

hero member

Activity: 2702

Merit: 704

Bitcoin is GOD

Quote from: ChromaticStar on September 22, 2017, 02:00:26 PM

It is probably a baked in reality at this point the we will have 3 Bitcoins in a few months after BTC forks again into a Legacy BTC and 2x BTC. This fork is looking to be more tumultuous than the BCH fork and we don't even know the details of any upcoming fork yet.

How are you going to hedge this event? Buy LTC? ETH? XMR? DASH? maybe BCH?

I hate all this childish bickering, but we should all start to place our hedges.

First of all there is not going to be a legacy BTC, it is simple BTC, the original chain that is all, segwit2x is just another altcoin that is all, and if they decide to make that suicide move then I will enjoy the free coins that I will get and sell them no need to do anything else.

nsasuiteb

full member

Activity: 406

Merit: 100

BAILOUT

I will not buy or sell anything because of upcoming segwit2x fork. Don't trade on the news, it may be profitable in short term but will be only loss in the long term. You may win once or twice like a gambling but you will be end up a loser.

Samarkand

sr. member

Activity: 658

Merit: 282

The question of the majority chain will likely be decided by the exchanges,
which control the desired BTC ticker symbol.

Whichever fork gets the symbol will win out in the end.

Personally, I intend to hold both coins if both chains survive.
This should maximize the potential return, because even the losing
chain in the long run will most likely experience a huge pump
by the supporters/backers with deep pockets in the short-term.

leea-1334

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Activity: 2296

Merit: 953

Temporary forum vacation

Quote from: ChromaticStar on September 22, 2017, 02:00:26 PM

It is probably a baked in reality at this point the we will have 3 Bitcoins in a few months after BTC forks again into a Legacy BTC and 2x BTC. This fork is looking to be more tumultuous than the BCH fork and we don't even know the details of any upcoming fork yet.

How are you going to hedge this event? Buy LTC? ETH? XMR? DASH? maybe BCH?

I hate all this childish bickering, but we should all start to place our hedges.

Why the need to hedge? If it forks, you will get equal amounts of Bitcoin and new alt. The BCH already was a free hedge and so will the new alt be. You have all your Bitcoin, and you have all the new alts. Hold all for the perfect hedge.

Of course, I always keep a small LTC and ETH. DASH too expensive for me with no usefulness. Same as Monero.

Fidemoga

sr. member

Activity: 302

Merit: 250

I have a bunch of altcoins, but will keep Bitcoin as my main currency. It is protected by a huge community and great technicians for the new upgrade, so that also a second hardfork can't stop the Bitcoin.

ChromaticStar

full member

Activity: 217

Merit: 100

Quote from: Kanapka on September 22, 2017, 02:13:59 PM

My "hedge" are the free coins that I will have if I hold, just like Bitcoin Cash

I don't think free coins is quite the way to look at this one. Most people probably haven't sold their BCH which is why the price is so high; I have not. The combined market value of the two forks might be substantially less than the prefork.

The upcoming fork is bound to be more volatile. Unlike last time big exchanges and miners like Coinbase and Bitpay may end up on 2x, while the developers from Core and quite a few miners may be on Legacy. We won't have a clearly defined "Bitcoin" this time.

If there's any threat to Bitcoin at the moment, it's the upcoming fork.

Quidat

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DGbet.fun - Crypto Sportsbook

Quote from: olubams on September 22, 2017, 02:07:50 PM

Quote from: ChromaticStar on September 22, 2017, 02:00:26 PM

It is probably a baked in reality at this point the we will have 3 Bitcoins in a few months after BTC forks again into a Legacy BTC and 2x BTC. This fork is looking to be more tumultuous than the BCH fork and we don't even know the details of any upcoming fork yet.

How are you going to hedge this event? Buy LTC? ETH? XMR? DASH? maybe BCH?

I hate all this childish bickering, but we should all start to place our hedges.

The details will surely come in the coming days and I am sure the reason why there is no much discussion on the matter is because the community is still concerned about recovery of bitcoin price, the September 30 rumored plan or bitcoin exchange sites in China, the ICO ban thing and several other things taking our attention and maybe that's why the promoters too are taking their time not to come out with that because it won't be the best time really. But when the dust settles, and the day is near, more information will roll.out.

Actually im little bit worried on this upcoming on the ending days of the september rather than on the upcoming segwit again on bitcoin but well we do still reaching out on that fork again and im sure dipping of prices will happen on that time.I wont hedge on that time for sure but would rather readying up my money for buying more coins.No need on conversions.

Kanapka

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My "hedge" are the free coins that I will have if I hold, just like Bitcoin Cash

olubams

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Quote from: ChromaticStar on September 22, 2017, 02:00:26 PM

It is probably a baked in reality at this point the we will have 3 Bitcoins in a few months after BTC forks again into a Legacy BTC and 2x BTC. This fork is looking to be more tumultuous than the BCH fork and we don't even know the details of any upcoming fork yet.

How are you going to hedge this event? Buy LTC? ETH? XMR? DASH? maybe BCH?

I hate all this childish bickering, but we should all start to place our hedges.

The details will surely come in the coming days and I am sure the reason why there is no much discussion on the matter is because the community is still concerned about recovery of bitcoin price, the September 30 rumored plan or bitcoin exchange sites in China, the ICO ban thing and several other things taking our attention and maybe that's why the promoters too are taking their time not to come out with that because it won't be the best time really. But when the dust settles, and the day is near, more information will roll.out.

ChromaticStar

full member

Activity: 217

Merit: 100

It is probably a baked in reality at this point the we will have 3 Bitcoins in a few months after BTC forks again into a Legacy BTC and 2x BTC. This fork is looking to be more tumultuous than the BCH fork and we don't even know the details of any upcoming fork yet.

How are you going to hedge this event? Buy LTC? ETH? XMR? DASH? maybe BCH?

I hate all this childish bickering, but we should all start to place our hedges.

Topic: How are you hedging the upcoming Segwit2x fork? - page 3. (Read 1721 times)