Should long term holders sell before August 1st? - page 5.

klf

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Quote from: aleksand on July 04, 2017, 01:13:04 AM

I dont think history will repeat this time, bitcoin is now ready to fly even the hard fork is nothing but an opportunity to buy cheap. Don's tell me afterwards that i did not hinted you all for the buy opportunity Wink

Don't buy all at one time instead of start buying a small quantity at every dip. In the longer run, it will surely give a very good returns compared to any other share market investments. I will not sell any of my bitcoins instead surely will buy some more if prices go down some more and accumulate it to sell at a very high price.

NUFCrichard

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If you really have 45 Bitcoins and could do with the fiat, then it would certainly be safer to sell some of them.
I am guessing that your 45 Bitcoins are massively in profit, i.e. you bought them for less that $45k total.

Why not sell so that you have enough fiat that you are comfortable, but still well invested in Bitcoin for the future in case the idiots in charge don't manage to ruin everything!

Or divest into PMs or Alts, though I think alts are in a bubble and generally a scam.

ChainSmoker

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Quote from: Yuuto on July 04, 2017, 12:23:27 AM

Quote from: ChainSmoker on July 03, 2017, 12:17:00 PM

Being a long term bitcoin holder i am little scared.some people are even saying bitcoin might fall to zero after August 1st.is that even a possibility?should i sell my bitcoins to cashout profits and wait it out? or should i keep holding? i want to hold bitcoin for another 4-5 years.so if the bitcoin prize falls after August 1st which is a very high chance then will it ever recover? what's the safe thing to do?

Shouldn't you be happy that bitcoin finally scales, though?

UASF is supposed to be a solution to the current issues with bitcoin not able to scale, and high transaction fees. So after august 1st, if the soft fork goes well then id say that bitcoin price will actually increase as a result of people abel to use it for micropayments again.

Obviously there is the risk of a hard fork happening, and it is likely that some sort of hard fork will be implemented. I really don't think that it's going to make much of a difference because in the end there will be one distinct winner out of the 2 forks, and the amount of time two forks are running simultaneously together is small. Hold your bitcoin, i'd say. Don't sell now because it is likely we'll retest $3000 soon, and if you want to sell, sell then when price is close to or above $3000.

Don't you think UASF is only a temporary solution?They will come up with another solution later to solve this scaling problem when the number of transactions will rise to the point where it doesn't matter if the signature's are removed from the block.

Quote from: Wind_FURY on July 04, 2017, 01:42:02 AM

Quote from: ChainSmoker on July 03, 2017, 01:03:08 PM

Quote from: hazukison on July 03, 2017, 12:32:48 PM

How many do you have?

around 45

I do not believe you but if you did have that amount and a split in the blockchain happens after August 1 then your Bitcoins double in amount. You can sell your coins in the dying chain and continue to hold the rest in the surviving chain. Or it could happen like Ethereum and 2 chains survive. You profit whichever way.

Hold.

Why it's hard to believe?i bought most of my bitcoins when the price was 450$ and if the split do happens then how will i know which will be the dying chain?i think safe is too just hold till one chain completely dies instead of taking a risk of selling a coin in 1 chain which may result in selling a coin in surviving chain.

unsoindovo

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Quote from: xhienigat on July 04, 2017, 12:34:31 AM

As far as I've read and heard, the hard fork doesn't really mean bitcoin will go back to zero. I don't think they would allow it especially investors. There might be a possibility it'll divide into two. But I don't think long term holders should be scared of what's coming. I myself am a holder of bitcoin and would still HODL my bitcoins and just leave it there for the next 2 years or so.

Try to diversify your investments to keep you safe from all the situations.
In part you keep the btc, in part you convert it to other coins (ETH, XML, LTC etc etc) and partially convert it to FIAT.
You wil lbe safe in case all remain the safe, or bitcoin will dump/rise...

Wind_FURY

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Quote from: ChainSmoker on July 03, 2017, 01:03:08 PM

Quote from: hazukison on July 03, 2017, 12:32:48 PM

How many do you have?

around 45

I do not believe you but if you did have that amount and a split in the blockchain happens after August 1 then your Bitcoins double in amount. You can sell your coins in the dying chain and continue to hold the rest in the surviving chain. Or it could happen like Ethereum and 2 chains survive. You profit whichever way.

Hold.

aleksand

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I dont think history will repeat this time, bitcoin is now ready to fly even the hard fork is nothing but an opportunity to buy cheap. Don's tell me afterwards that i did not hinted you all for the buy opportunity Wink

mongkie

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i think you should hold. have the guts and hodl. no one is in control of your future, have the balls and decide now or regret later! better read and research it by yourself and dont listen to others who's bashing btc.

tonlong

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Quote from: xhienigat on July 04, 2017, 12:34:31 AM

As far as I've read and heard, the hard fork doesn't really mean bitcoin will go back to zero. I don't think they would allow it especially investors. There might be a possibility it'll divide into two. But I don't think long term holders should be scared of what's coming. I myself am a holder of bitcoin and would still HODL my bitcoins and just leave it there for the next 2 years or so.

Yes, keep it more. Bitcoin is still just a fetus. Let's watch what it does when it's truly given space to thrive.

ultrloa

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Quote from: xhienigat on July 04, 2017, 12:34:31 AM

As far as I've read and heard, the hard fork doesn't really mean bitcoin will go back to zero. I don't think they would allow it especially investors. There might be a possibility it'll divide into two. But I don't think long term holders should be scared of what's coming. I myself am a holder of bitcoin and would still HODL my bitcoins and just leave it there for the next 2 years or so.

Hodl if you cana afford to hodl since I dont think august 1 could effect the price of bitcoins and the august one will just be the same as normal days on bitcoin and even if there's split issue on it Im sure that bitcoin holders will just go for it and grab more bitcoins since at the first place this coin has great adoption and it will spread for more years to come.

rhyso

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My thoughts suggest it depends what you are holding for.

For me, I am saving for a house and plan on building in 2 years time, without a loan!

I have most of my savings in fiat in a high interest savings account and I have BTC and ETC. Not enough that if if did hypothetically go to zero that it would affect my plans. But enough that if it does go to the moon, I wont feel like I was an idiot for not at least investing some.

When we started saving in 2013, I was considering piutting it all in BTC, and had I have done so. I could definately have built already and bought a new electric car.

But now it is over 2k a coin, I doubt the same scale of growth can happen in a couple of years... I certainly hope does however.

if you goals are a shorter term than that, then it may be worth cashing out, or not... But longer term I dont think there is much canc of it being worth less than it is now. I am not guaranteeing that however...

If you are worried, cash out a percentage where you feel like you are on top of it.

45 coins is a lot of money, I could have had that many too but I am not wealthy enough to feel comfortable to do that.

It is all about balance.

Yuuto

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Quote from: xhienigat on July 04, 2017, 12:34:31 AM

As far as I've read and heard, the hard fork doesn't really mean bitcoin will go back to zero.

Yes, hard fork simply means that there will be a snapshot taken and then from that point onwards, two ledgers will be kept, separate from one another.

Quote

I don't think they would allow it especially investors.

Uh, what? I agree that bitcoin won't go to zero. But there is no central bank behind bitocin that will rescue its price if it were to go down.

Quote

But I don't think long term holders should be scared of what's coming. I myself am a holder of bitcoin and would still HODL my bitcoins and just leave it there for the next 2 years or so.

Agreed, Ethereum's hard fork was originally thought to be the end of ethereum becasue ETC was essentially catching up with the actual ETH very quickly. But now, there is a decisive winner(the actual ETH). As i said, bitcoin will probably experience something similar, it is likely that two chains will be running simultaneously for a while, but towards the end one chain will succeed whilst the community interest for the other one dies off and eventually nobody uses it.

xhienigat

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As far as I've read and heard, the hard fork doesn't really mean bitcoin will go back to zero. I don't think they would allow it especially investors. There might be a possibility it'll divide into two. But I don't think long term holders should be scared of what's coming. I myself am a holder of bitcoin and would still HODL my bitcoins and just leave it there for the next 2 years or so.

Yuuto

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Quote from: ChainSmoker on July 03, 2017, 12:17:00 PM

Being a long term bitcoin holder i am little scared.some people are even saying bitcoin might fall to zero after August 1st.is that even a possibility?should i sell my bitcoins to cashout profits and wait it out? or should i keep holding? i want to hold bitcoin for another 4-5 years.so if the bitcoin prize falls after August 1st which is a very high chance then will it ever recover? what's the safe thing to do?

Shouldn't you be happy that bitcoin finally scales, though?

UASF is supposed to be a solution to the current issues with bitcoin not able to scale, and high transaction fees. So after august 1st, if the soft fork goes well then id say that bitcoin price will actually increase as a result of people abel to use it for micropayments again.

Obviously there is the risk of a hard fork happening, and it is likely that some sort of hard fork will be implemented. I really don't think that it's going to make much of a difference because in the end there will be one distinct winner out of the 2 forks, and the amount of time two forks are running simultaneously together is small. Hold your bitcoin, i'd say. Don't sell now because it is likely we'll retest $3000 soon, and if you want to sell, sell then when price is close to or above $3000.

phuclzu12

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I think should sell 50% to FIAT or USDT if have profit in past months, hold cryptocurrency until end August (with me end August is the time ending bearish trend) look like as a gamble, risky and can loss more money. Sell 50% and relax with this money, after this event we can comeback

jhenfelipe

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This news made me think as well. Hmm but my decision ended up collecting my coins and keep it in one wallet, the one that I have the private key. I thought that it wouldn't be safe to leave it on exchanges before Aug.1 . That being said, I want to hold rather than sell and I'll just wait and see what will happen on that day.

jerowacik

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Quote from: ChainSmoker on July 03, 2017, 12:17:00 PM

Being a long term bitcoin holder i am little scared.some people are even saying bitcoin might fall to zero after August 1st.is that even a possibility?should i sell my bitcoins to cashout profits and wait it out? or should i keep holding? i want to hold bitcoin for another 4-5 years.so if the bitcoin prize falls after August 1st which is a very high chance then will it ever recover? what's the safe thing to do?

There is so much speculation that 1st of August there will be drastic price declines. But that is still a matter of speculation because we do not know what will happen. It could be just people who want to get the benefits that spread this issue.

n0ne

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Quote from: batang_bitcoin on July 03, 2017, 09:33:23 PM

Quote from: ChainSmoker on July 03, 2017, 12:17:00 PM

Being a long term bitcoin holder i am little scared.some people are even saying bitcoin might fall to zero after August 1st.is that even a possibility?should i sell my bitcoins to cashout profits and wait it out? or should i keep holding? i want to hold bitcoin for another 4-5 years.so if the bitcoin prize falls after August 1st which is a very high chance then will it ever recover? what's the safe thing to do?

Actually I'm also scared on what's possible to happen. As I'm reading some insights about the upcoming Segwit activation. And you've got much to hold and I'm not even on the half of your total bitcoins but I'm truly worried about it. Many are saying it's better to convert it to cash and when everything is settled just buy.

Panic situations were quite common with bitcoin and now this time it's happening through segwit. So maybe the panic now too will be used by the big volume holders. Because they cannot cash out everything, so they will use the opportunity to add more to their wallet. Even if the splitting gets majority possibilities users won't be affected big in my view.

Jherek

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Quote from: ChainSmoker on July 03, 2017, 12:17:00 PM

Being a long term bitcoin holder i am little scared.some people are even saying bitcoin might fall to zero after August 1st.is that even a possibility?should i sell my bitcoins to cashout profits and wait it out? or should i keep holding? i want to hold bitcoin for another 4-5 years.so if the bitcoin prize falls after August 1st which is a very high chance then will it ever recover? what's the safe thing to do?

Truts me man, bitcoin will never go near 0 even if a hard fork was to be initiated, and it might not even happen after all the hype. I remember back in April everyone was already panicking about the fork, and people said it was going to happen this week or the next. But it hasn't happened yet.

I mean it all ultimately depends on what you're comfortable with. If you simply cannot afford to lose the money that is in bitcoin right now and want to liquidate it for cash, then go for selling before the fork. Price is still decent, even though it is 15% down. What i would do is though, sell 30% and hold 70%. I suspect that before the fork there will be panic, and people will be dumping a lot of their coins. So then you can use your 30% to bring down your average entry point.

And 45 btc is a lot, make sure you store it safely. If you hold your own private keys then you'll end up with tokens on both blockchains, meaning that the actual value of yoru coins probably wont change much even after the fork.

pooya87

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if you have made the mistake of investing more than you can afford to lose then start selling until you reach a level that you feel more comfortable with. reach what you can afford to lose.

and as for that date, at this point we can not really say anything. all we can assume is that bitcoin is too big and all the people involved (miners ,... ) have invested millions of dollars and they won't risk killing their investment like this.

batang_bitcoin

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Quote from: ChainSmoker on July 03, 2017, 12:17:00 PM

Being a long term bitcoin holder i am little scared.some people are even saying bitcoin might fall to zero after August 1st.is that even a possibility?should i sell my bitcoins to cashout profits and wait it out? or should i keep holding? i want to hold bitcoin for another 4-5 years.so if the bitcoin prize falls after August 1st which is a very high chance then will it ever recover? what's the safe thing to do?

Actually I'm also scared on what's possible to happen. As I'm reading some insights about the upcoming Segwit activation. And you've got much to hold and I'm not even on the half of your total bitcoins but I'm truly worried about it. Many are saying it's better to convert it to cash and when everything is settled just buy.

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