The BTC BCC exchange paradox | Bitcointalksearch.org

Xavofat

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Did you see that ludicrous display last night?

Quote from: Joohansson on July 25, 2017, 05:52:05 PM

What will you do? I'm a long term holder and never panic sell so I will definitely move the part stored in exchanges just in case. No one knows what will happen it seems.

Personally, I'm holding my coins in my TREZOR. I can use the seed in other HD wallets and I don't particularly care if TREZOR gives me a lovely UI for spending Bitcoin Cash, as I don't intend to touch it unless it's still relevant in a few months' time.

If you think that the price will go down on August 1st, you sell your coins before then and/or open a short position.

Personally I think that the event will be hyped too much with people selling before it, and the price won't crash much on the day itself.

tauceramica

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Quote from: pawanjain on July 26, 2017, 09:18:54 AM

I am not taking part in the race towards the split chain. I am staying aside by exchanging my btc to altcoins. I have bought some doge and ripple and i am going to leave them on the exchange and see what is going to happen. Its the first time bitcoin is facing the fork so we really can predict what the outcome is going to be. If we stay on btc there are chances that we might profit some or lose some but not holding btc assures of no loss atleast.

You said that we really can predict what the coutcome is going to be, but you're not right here. We can't predict the outcome. We've never lived this before and first time we're experiencing fork of bitcoin. Bcc supporters trying to assure exchanges to list it.

pearlmen

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Quote from: Joohansson on July 25, 2017, 05:52:05 PM

I believe many want their bitcoins in exchanges prior to aug 1 so they can panic sell or trade for profits if price should drop.
The dilemma is you probably also want to move your bitcoins our of your exchange to a wallet where you have control over private keys in order to split into BTC/BCC if bitcoin cash should survive and get valued anything other than zero. Exchanges might not support BCC, at least not on aug 1. Then your BCC is in the hand of the exchange.

What will you do? I'm a long term holder and never panic sell so I will definitely move the part stored in exchanges just in case. No one knows what will happen it seems.

This is a case of "you can't eat your cake and have it" whether we like it or not, btc will have to leave the wallet if its to change to any other currency but the issue here is that if Bcc takes the win in this upcoming split, i am sure they wont stop accepting after August 1 which means there is no need for rushing or being skeptical. Exchnages can be hacked whether insider job or not and those promises goes into tin air with nobody taking responsibility or reimbursement. The best is just to keep it offline until the dust settles.

buwaytress

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Quote from: pawanjain on July 26, 2017, 09:18:54 AM

I am not taking part in the race towards the split chain. I am staying aside by exchanging my btc to altcoins. I have bought some doge and ripple and i am going to leave them on the exchange and see what is going to happen. Its the first time bitcoin is facing the fork so we really can predict what the outcome is going to be. If we stay on btc there are chances that we might profit some or lose some but not holding btc assures of no loss atleast.

Except that the majority of alts rise and fall in value in tandem with BTC. Then again, maybe the split will result in this dependence becoming looser. Maybe alts will also swing wildly for a while, waiting for the stronger chain to once more dictate their value.

pawanjain

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Nothing lasts forever

I am not taking part in the race towards the split chain. I am staying aside by exchanging my btc to altcoins. I have bought some doge and ripple and i am going to leave them on the exchange and see what is going to happen. Its the first time bitcoin is facing the fork so we really can predict what the outcome is going to be. If we stay on btc there are chances that we might profit some or lose some but not holding btc assures of no loss atleast.

1Referee

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Quote from: IamHigh on July 25, 2017, 06:18:01 PM

Unless exchanges explain that they will gurantee our split security, we can't trust them and I also don't know what to do in this position. Nobody is clear so far including exchanges.

Even if exchanges do promise you that you will get what belongs to you, you shouldn't take that for granted. After all, exchanges may change from standpoint at the time something is happening that they haven't seen coming. If you proceed to leave your coins there anyway, despite all the warnings and statements from the exchanges themselves, you should not complain when things don't play out as you might have expected. Either way, your Bitcoins will remain safe, you just risk losing the potentially free candy. Wink

In my situation, I am a trader, which will basically mean that I leave an x number of coins on-exchange in order to do some trading. I fully accept that I may not end up getting the free candy (the alt) in case of a chain split. Other than that, I will make sure that I have less coins than usual on-exchange (likely in the range of 50% of what I normally would trade with).

ArdiPrabowo

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if hardfork succes without spilit, bitcoin cash(BCC) or bitcoin unlimited (BTU) can't run, if run same new altcoin not special with cheap price, and i think still under ETH price

IamHigh

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Unless exchanges explain that they will gurantee our split security, we can't trust them and I also don't know what to do in this position. Nobody is clear so far including exchanges.

BitHodler

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My main priority has always been keeping my coins offline, where I am the sole owner of my private keys ~ current situation will be no exception.

Of course there will be a decent amount of volatility and trading opportunities in the coming days/weeks, but for me the security of my coins has always been more important than anything else.

I will wait for everything to calm down, from where I then will carefully evaluate the situation. I will definitely end up exchanging the split altcoin for Bitcoin as soon as possible.

Joohansson

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I believe many want their bitcoins in exchanges prior to aug 1 so they can panic sell or trade for profits if price should drop.
The dilemma is you probably also want to move your bitcoins our of your exchange to a wallet where you have control over private keys in order to split into BTC/BCC if bitcoin cash should survive and get valued anything other than zero. Exchanges might not support BCC, at least not on aug 1. Then your BCC is in the hand of the exchange.

What will you do? I'm a long term holder and never panic sell so I will definitely move the part stored in exchanges just in case. No one knows what will happen it seems.

Topic: The BTC BCC exchange paradox (Read 502 times)