Topic: What to do now? (Read 398 times)

Not all altcoins, monero seems very stable. I have bitcoins - didn't ask to buy one, my question was what to do but as I see this whole bcc thing was pump and dump.
Never mind, locking this topic, I did probably best thing- I went to bed without touching anything 
Thanks for your opinions and answers!

Bitcoin is suffering form lack of miners but that will not stop it from growing.The miners will shortly return to Bitcoin once the dust is settled.
Transaction are taking place but at higher fees. The transaction blockage will clear out in some days. It is better to hold on to your BTC. Don't turn towards BCH as it is going to depreciate in price further more. Hold your BTC because it will soon recover the price. Alts are also a good option but if BTC recovers soon then Alts might drop as well.

Sad to say that those thinking that the "flippening" could happened didn't materialized. Bitcoin is now gaining ground and peaking at a current price of $6500+ and I'm glad that I didn't sell it during the panic because I know that bitcoin cash wouldn't last that long. It is dropping so I consider that they are now going back to bitcoin. For the alts, really hard to say right now, as I haven't seen a good coin that is good for longer hold. Let's see how the market moves from bitcoin cash to bitcoin. Its gonna be fun!!!

I could understand your feelings on seeing the ongoing fight between BTC and BCH.Some would be thinking of better to invest in some alternatives like ETC,Monero,etc.But they are just alts.they have not delivered huge results in the past.Better just hold your bitcoins as BCH price is fastly dropping $1,167 and at the same time,bitcoin price rising to $6,550.Switching from BCH to BTC is going on.

We have the same thoughts. Altcoins is really for short term so it suited for day traders who want to take short term profits. Only Ethereum is best for longer terms as far as altcoins, though I have seen a lot of ups and dumps and never get back to its ATH not even close. So there is no question in our mind  that bitcoin is the best choice specially for longer term, you don't need to be a trader or something, you can just buy bitcoin then just wait and hold it and wait till the price go up in the next couple of months. This has been practiced by a lot of us, specially with huge amount of bitcoin just sitting in their wallet and will just sell if they needed to take profit.

BCH was, is and will be a pump and dump scheme created by a few people with very malicious and selfish intent.
Keep calm, and together we will ride out of the storm.

What to do? Stick to bitcoin. Easy. Look today, BCH is already crashing, miners  going back to bitcoin and investors are well. There's no need to switch back to altcoin. Well maybe a few coins like eth, or monero. Those are only the 2 coins that I think that it good for longer terms are opposed to other altcoins. Of course you don't need to fully moved a way from bitcoin because it is really the best investment.

I dont like to hold alt coin too much, because the price movement is unpredictable and sometimes the price keep on dropping, alt coin is more suitable to short term so you need to keep on pay attention to the price, buying bitcoin and wait until the price go up, that is the thing I will do

There is a bargain now to buy a new WavePay token, low price. More info: https://bitcointalksearch.org/topic/m.24464861

if we look at the charts from the beginning of the year we can see that bitcoin has grown higher than many people expected.
i think (hope) there is a big degree of unnecessary panic at the moment. Cash is being driven high and is gaining momentum but the majority still back bitcoin

A couple of months ago I asked myself: "what may happen if mining becomes too expensive? Will miners switch to another crypto? If so, what will happen with bitcoin?"
I found this brilliant answer on reddit and I copy and paste it here.

"Totally understand your (excellent) question, but would suggest the premise is misplaced. Why would mining BTC ever necessarily become unprofitable?
 
Use this analogy: If it costs an employee $50/day to commute to and from work, for a job that pays $40/day, the employee will (1) seek a less expensive commute; (2) seek a raise; and/or (3) seek a new job.
 
In this analogy, miners are always looking for lower energy costs (less expensive commute) and will be seeking to sell BTC for a value that exceeds that cost (a raise). Like the work force itself, miners that are the most efficient in their work tend to fare better. The scenario by which energy costs exceed the costs miners can recover for the BTC mined - that's scenario (3) above - but hardly the only option. (I believe your question is what would happen when the energy costs exceed the VALUE generated, not the PROFIT generated -- by definition, the profit is the spread between the value of the BTC, if sold, and the costs of mining them in the first place).
 
The costs of mining BTC are the one objective measure we can use in assessing BTC's buy/sell value - because while Chinese yuan devalution, Brexit jitters, PIGS EU defaults, Venezuelan hyperinflation, and reward halving will come and go on the calendar (without predictable results or scientific measures of impact) - one constant will always be that it costs $XXX to mine 25 (soon 12.5) BTC. When miners sell their BTC, they will be listing at a price that exceeds that cost. Only if buyers refuse to pay that price will your scenario unfold. But as a matter of market behavior, when BTC prices rise, or when demand outpaces supply, we get mainstream (non-cryptocurrency publications) coverage, new BTC investors & traders, and an echo-surge in price. We just saw this over the last four weeks - no one can specify precisely why price went up, but the fact of the price going up generated media coverage, more interest, more purchases, and more price going up, for some time. Everyone fretting over the drop from $777 to $650 is forgetting that most of 2014 and 2015 were a drift in the $200 range, and that 2016 started with a plummet from the November surge back into the $300 range.
 
Besides seeking a sell price that locks in some profit, there's a wealth of writing on this sub, and on /r/bitcoinmarkets, about the impact of transaction fees, and how these fees may incentivize miners to keep at it, while keeping profitable.
 
Miners who can't figure out to minimize energy costs will be akin to the local bookstore or independent pharmacy - you want to see them succeed, but market forces dictate that the big box stores will drive them out of business (or lower their profits) by providing the same product for less. But it's by no means a given that BTC mining ever need be unprofitable, when the miners have a primary say in the initial listing price for the 1,800 new BTC each day (after July 9).
 
And just think about that number for a minute - merely 1,800 new BTC daily being mined (12.5 BTC * 6 blocks/hr * 24 hrs). If only 1% of Earth's population knows about BTC, and only 10% of those people actually purchase/trade/hold BTC, we have 75,000,000 people with access to 54,000 BTC per month - meaning, if everyone interested just wanted ONE bitcoin, there would only be enough new ones each month for 0.08% of those buyers to obtain one.
 
And at some point, the natural laws of Econ 101 kick in, when you cross the supply and demand lines."

I personally divided my investment into two parts. With one part I'm a long term BTC holder (and an even  bigger long-term ETH holder... but for the moment I'll focus only on BTC) and the other I use for trading/speculation.

At the moment i'm not really buying into the whole bitcoin cash market movement. The recent surge in price seems more like a mega pump/market manipulation scheme rather than some shift in market fundamentals. Yes, some miners may very well be switching to BCH, but the whole mining community doesn't just change coins overnight, so I don't think that this is the reason for the quadrupling in BCH price in the space of 3 days. So my long term investment is still in BTC.

Regarding speculation... I believe that the short term bitcoin rally is far from over. Having said that though, it is possible that bitcoin extends its correction even further, before another big rally. It already tested and rebounded from a very strong level of 5500, but it was only a brief encounter. So I think that it will either return for a retest of 5500, or it will break through it to test the 100 day moving average in the range of 5000 - 5300. So i'll be watching how BTC behaves around these levels before I make any trades.

To answer your question in short though, I think it's worth to keep BTC as you never know when it will rebound again. BCH in my opinion is overhyped at the moment. However, if you decide to switch to another coin, before you do that it might be worth checking out how BTC behaves around the above mentioned levels first.

The concern as to the future of Bitcoin and Bitcoin Cash is a real one and fairly widespread. It has developed in the past few days as miners have switched from BTC to BCH. This 'problem' will likely be fixed in the near future when bitcoin's difficulty drops and it becomes more profitable to mine. In fact, as we speak Bitcoin is becoming more and more profitable because as more hash is transferred to BCH, the higher the difficulty goes. Things will be back to normal soon enough.

As to what to do, that choice is up to you. I am currently building by position in BTC because I am very confident in Bitcoin's future.

Good luck and stay safe!

I didn't ask you how to trade or what to do with my free time, i asked serious question which is probably bugging 90% of bitcoin users(i might be wrong too).
Yes but this time miners switched to bch, right? Or wrong?

My opinion is that these days feel a bit like losing a battle, but Bitcoin is still winning the war so far.
It's not the best period for Bitcoin, but it always proves to be the best investment year after year, despite its dropping periods.
What's the problem now?
Bitcoin cash is threatening bitcoin? Already happened in the past that people claimed other coins to surpass bitcoin because of the other coin's strength or because of bitcoin's weakness. It never happened.
Bitcoin price is too low? At $5,650, bitcoin is losing a bit more than 27% from its peak. I remember some periods worse than this in the past.

Well if we have liesure time and we didnt know what we are going to do we can search important thing to have learning it is important to use our time wisely so that we can become productive on the near future instead of playing games or maybe roaming arround we can do search on way how to trade and make it a habbit to become mor productive someday.

This morning i was thinking about something.
Part of miners switched to bcc, bitcoin price is going down while bitcoin cash price is moving up, and there are more and more unconfirmed transactions. I don't think that someone can say until when and how will future look like.
My question is - is it smart to hold any of this currencies or is it better to buy something else(monero, eth, ltc) and wait for things to settle down?
Sorry if I am in wrong board but I don't know where to put this.