Topic: In a Bitcoin Disaster where would you move your Money? - page 8. (Read 7473 times)
IT is certain that I will never give up on digital currency. I will move all my Bitcoin to another potential cryptos such as Etherium, Monero or Ripple. However, right now, I really like to use Zcash since it is 100% anonymous and people who use it will be 100% secure. In the future, I believe Zcash will dominate the digital world with its special technology
At this point I am starting to doubt if bitcoin will ever be successfully forked. Community is so divided over it that eventuality enough to prevent any kind of action.
in late 2015 core devs actually got the community together and laid out a roadmap that actually included dynamic blocks.. AND segwit (consensus 2015)
but core later core backtracked and pretended/recanted their statement and acted like the core devs had no coding experience to write any dynamic block code that could be accepted accepted into core.. by saying they are just independants and not the main core guys!!(community facepalmed them)
so now core no longer want to play on a level playing field with the other dozen diverse implementations of bitcoin.. and caused the drama of the last year
- Monero: Which is has privacy implemented in it
At this point I am starting to doubt if bitcoin will ever be successfully forked. Community is so divided over it that eventuality enough to prevent any kind of action.
as usual. I will keep some money on bitcoin and some on fiat.
if this stuff would be worse, I think saving bitcoin in my wallet until the thing is good again is better than buying another coins unless I have some needs on it.
if this stuff would be worse, I think saving bitcoin in my wallet until the thing is good again is better than buying another coins unless I have some needs on it.
It will get more participant on your list soon. Does in Q2 of 2017 the fork hybrid coin between bitcoin and ethereum will be born. 
that is the funny coin.
I won't move my money, IMO they're full with pump and dump and no more(my personally). I just take that.
that is the funny coin. I won't move my money, IMO they're full with pump and dump and no more(my personally). I just take that.
If let say bitcoin being fork then I will still used it, but in the worst scenario I will moved my money to Monero and Dash, both of this coins seem very promising for the future and my last option will be invest in gold, from the market cap, Ethereum seems like a logical choice but ETH had been forked before so I don't feel safe to moves my money to ETH
You mean fork?
I would just keep using Bitcoin.
o.O
I would just keep using Bitcoin.
o.O
I assume you're basically questioning what would we do if there was a fork that created an altcoin. I'd most likely keep my coins where they are, unless the altcoin in question proved to be significantly better than Bitcoin.
Yes but there would be a lot of panic, and we could end up with 2 coins like ETH and ETC.So where would people put their coins then? The majority coin would be the default solution, but if it drops back to say 50$, then it would be a disaster.
So maybe diversify? This is what I am trying to find out here
rational hat on. (i dont believe an intentional split should or would happen unless gmaxwell gets desperate to trigger one inteionally).
with a hypothetical hat ontop that hat. (but lets play this theory game)
if you have 10btc in 1AbCBl4blahblahaddress..
in an intentional split scenario.
you then have
10btc in 1AbCBl4blahblahaddress.. on chain A
and
10btc in 1AbCBl4blahblahaddress.. on chain B.
you cannot make it 20btc in one chain simply by spending it to an address you create on the chain you want..
but the value of the coins in chain A or B may get impacted. and vary..
so its not a "move it to majority chain" because the funds (10btc) are already there..
you could indirectly sell 10coins in chain A for fiat or an altcoin. then move to an exchange that works with chain B and use the fiat/altcoin to buy more chain B bitcoin.. but thats indirect, and no guarantee of what total you will ultimately get, due to the variance of prices between the two different chains
You mean fork?
I would just keep using Bitcoin.
o.O
I would just keep using Bitcoin.
o.O
I assume you're basically questioning what would we do if there was a fork that created an altcoin. I'd most likely keep my coins where they are, unless the altcoin in question proved to be significantly better than Bitcoin.
Yes but there would be a lot of panic, and we could end up with 2 coins like ETH and ETC.So where would people put their coins then? The majority coin would be the default solution, but if it drops back to say 50$, then it would be a disaster.
So maybe diversify? This is what I am trying to find out here.
I assume you're basically questioning what would we do if there was a fork that created an altcoin. I'd most likely keep my coins where they are, unless the altcoin in question proved to be significantly better than Bitcoin.
You mean fork?
I would just keep using Bitcoin.
o.O
I would just keep using Bitcoin.
o.O
I am curious that in the hypothetical scenario of Bitcoin splitting into 2 (which is less and less hypothetical), or other big disasters (51% attack, quantum hackers,etc), where would you move your money? Bitcoin is currently the reserve currency, and it's safe to store in it some money, but if some disaster happens, then it will no longer be safe, so I am curious where people would go, what would be the alternative to BTC?
There are of course some of the top 10 coins, which would qualify in my view:
So which one is it for you?
There are of course some of the top 10 coins, which would qualify in my view:
- Fiat Currency: Which is like cashing out of the crypto world, not really an alternative to BTC
- The majority chain: the split of BTC that would have the most nodes, miners, merchants and users behind it
- ETH: Which has the closest market cap to BTC, and the most users after BTC
- Ripple: Which has banking integration and a somewhat stable price
- LTC: Which is the closest to BTC in terms of code similarity
- Monero: Which is has privacy implemented in it
- Dash: Which is has low fees, privacy and a democratic consensus mechanism
So which one is it for you?
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