Silly question: are old, legacy, pre-BCH fork Bitcoin worth keeping untouched/unspent for some reason? Are they expected to gain in value as "collector's items" compared to the more recent ones?
Came up in a conversation with a friend who hodls 3 such BTC (from 2016). Bought them for $1500, now worth $300,000.
I gave him my usual "keep them if you can, spend them if you must" reply, but I never thought of old coins gaining in value...
Came up in a conversation with a friend who hodls 3 such BTC (from 2016). Bought them for $1500, now worth $300,000.
I gave him my usual "keep them if you can, spend them if you must" reply, but I never thought of old coins gaining in value...
There's BCH ($626), BSV ($81), eCash ($53) and BTG ($37) that are worth keeping. I mean selling. That's $797 in total per pre-fork Bitcoin. Those Forkcoins have been losing value against Bitcoin for years, so I don't expect any of them to go up. But never say never in crypto.
If you want to get rid of shitcoins by diluting their market, selling them is a great option
In regards to your calculations, since the guy holds 3 BTC, then I take your $797 and multiply it by 3 to get $2,391.
As I posted earlier, I don't think it's worth the risk. If he ever decides to migrate to a modern (SegWit+) wallet, we can consider claiming his BCH, BTG and BSV. For now, it's better to let him keep his coins where they are, considering that he is not physically close to me and doesn't even know what an address is...
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I nearly did the same. Sold all my BCH right away, but almost immediately re-bought them, out of fear of BCH gaining momentum, and because I was influenced by certain posts here in WO. Fortunately, after much thinking, I "saw sense" and converted them all to BTC. A good percentage of my BTC stash comes from those 2017 BCH coins.
You might be leaking OPsec AlcoHoDL - nontheless, you inspired me to say something on the topic.
I had some coins on Bitfinex that automatically recognized the fork on August 1, 2017. I had some coins on Coinbase, and at first, they said that they were not going to recognize the Bcash, yet after a month or so, they said that they would recognize them sometime right after New Years, so it would be in the new year... and then wasn't it around the first or second week of December that they suddenly recognized them... and then had the shenanigans with their exchange where the price got conveniently locked at around $9k, even though actual bcash were selling at around $2k to $3k in other markets. They were quite the sheisters in that situation.
I was inspired to buy a Trezor since they had put a splitting tool in their app, yet I had a problem with the wallet that I was recognizing, since it had many many accounts, but the Trezor ONLY recognized the first 10 accounts. I searched around for other solutions, and I believe that I ended up going with electrum, where I had to create a walllet and a derivation path for each of the accounts, and so it was a bit of a process to chug through all of my accounts.. there were a lot and some were empty and some had a balance, but I was able to recover the Bcash through that process.
I cannot remember my exact details, yet I think that I had made Bcash sales for anywhere between 0.08 BTC and 0.35 BTC, and so I never was able to sell too many at the higher prices, so I probably had an average of something like 0.18 BTC on my sales of the Bcash.
I did not really diddly daddly around with selling, but with anything I hate trying to do too much at once, so I tried to follow a process of selling on the way up and dividing my coins to try to get more out of them, even though I had some technical difficulties with some of the process.
It seems my reason for responding to you AlcoHoDL, is because you asserted that a large part of your BTC stash came from that, in spite of some anectdotal claims, like Loyce getting 0.5BTC for one of his Bcash, there had been some confusion around that time too, and I don't recall buying any Bcash back, but surely there coudl have had been trading opportunities, and maybe you were trading rather than just cashing them out, so largely I proclaim that maybe at best I might have been able to increase my bitcoin stash by 18%, and that might just me selectively remembering, since even though it was a bit of a windfall, I still did not feel like I really went to town in regards to my "profits," yet surely there were a variety of things going on around that time... between August 1, 2017 and even dragging into 2018, and I am not sure if I had any Bcash left by 2018, except there were some other exchanges in which I had coins that had done some later (like a ways into 2018) recognition of the bcash coins and so those coins showed up which would largely prompt me to sell whatever additional Bcash that I would receive or be able to claim from time to time... but yeah, the Bcash that I got would have been based on whatever balance of BTC that I had in their service as of the time of the hard fork on August 1, 2017.
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About OPSEC, I don't know... Maybe... I generally try to add a degree of uncertainty to my statements, so "good percentage" could really mean anything. I remember claiming and selling the BCH almost straight away. There was a heated discussion back then, about the need for a larger block size, and I was influenced by that discussion, to the point of re-buying the BCH I sold, just in case things went bad for BTC in favor of BCH (a.k.a. the "flippening"). Yes, I was that dumb to believe this nonsense! After much thinking and research on the block size issue, I decided that the block size limit was in fact a feature, not a bug, so I eventually converted all my BCH to BTC. The positive aspect of this was that I did a bit of wild and careless trading with my BCH (as I considered them free money, so I didn't care much about losing some). As it turned out, my trading paid off and I was able to multiply my BCH by riding the waves of volatility, eventually ending up with more BCH than I started with, all of which were eventually converted to BTC.
Bitcoin may have started off as electronic cash, but it had become rather obvious, even as early as 2017, that Bitcoin was destined to become Gold v2.0 and potentially grow so high in value that it would be pointless to (be able to) use it to buy coffee at Starbucks, just as no one would use a chunk of gold as petty cash. In that sense, there is absolutely no need for a very large block size or for a huge transaction throughput. Things are fine as they currently are (post-SegWit). Bitcoin is slowly but steadily becoming the premier digital store of value, and in this role the block size is fine. As and when a real need arises to increase it, it can be done in a secure, controlled way, and not pushed by a gang of greedy control freaks, as it happened in the 2017 BCH fork.
