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Heh, just look at any chart and see where the price spiked sharply down. I was wondering where my hf buddy TTT was!
Not for nothin', but if this selloff continues, I just might buy me some BTC. I reopened a $5240 buy, and the rest of these orders remain open, patiently waiting:
https://www.sportsbookreview.com/for...l#post27298085
What's your price thinking, TTT?Comment -
what was the price at the fork officially??Heh, just look at any chart and see where the price spiked sharply down. I was wondering where my hf buddy TTT was!
Not for nothin', but if this selloff continues, I just might buy me some BTC. I reopened a $5240 buy, and the rest of these orders remain open, patiently waiting: https://www.sportsbookreview.com/for...l#post27298085
What's your price thinking, TTT?Comment -
I'm just curious... what was the overall net gain after the fork?
For every 1 Bitcoin... how much did you get of the other coin?Comment -
I have mine at bitfinex and last I checked a couple of hours ago they were on around $100/per...prices are different from exchange to exchangeComment -
I just got an email from Coinbase and it looks like for the next fork, they will be matching an equivalent amount of Bitcoin2x...
Bitcoin Segwit2x
The Bitcoin Segwit2x fork is projected to take place on November 16th and will result in two bitcoin blockchains. Following the fork, Coinbase will continue referring to the current bitcoin blockchain as Bitcoin and the forked blockchain as Bitcoin2x.
Any customer with a Bitcoin balance on Coinbase at the time of the fork will be credited with an equal amount of the Bitcoin2x asset on the Bitcoin2x blockchain. No action is required—we will automatically credit your account. So, if you have 5 Bitcoin stored on Coinbase before the fork; you will have 5 Bitcoin and 5 Bitcoin2x following the event.Comment -
MPS, as MoneyShot said, you are a big asset here. Your info and insight is much appreciated!!
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I have coinbase and have withdrawn from a site before with coinbase and sold to my bank.. With this new fork thing you guys are talking about will I still be able to withdraw and sell to my bank? I am not very up to par on all of this.. A little explanation would be appreciated. ThanksComment -
Awh, schucks, thanks for the kind words. I love your stuff, too; I never skip a post. The next hard fork, for BT2, will happen in about a month and unlike BTG, this will be a "real" forking. Bitfinex has a futures market for BT2 (click "CST's" > "Bitcoin SegWit2x CST's" > "BT2/USD") that's pricing it at $850, and I'm a buyer at that price.
The next hard fork is the only concession the Bitcoin Unlimited movement got when it lost the 2 year civil war with Bitcoin Core, so the support for BT2 will be vast and, I'm guessing, every single exchange will have a mechanism for delivering BT2 to its clients.
PS: Under immediate pressure from my fellow BU vets, Coinbase has retracted the part of that statement you quoted about automatically keeping the symbol BTC and the name bitcoin for the current BTC. Now, if the new coin takes over a majority of the hash power from BTC, it will also "steal" the name bitcoin and the symbol BTC.
That particular complaint strikes me as stupid and ludicrous -- who cares what the new coin is called? -- and I worry that we might be headed back to war.Comment -
The next fork will be really BIG, with tons more press coverage and, I worry, tons more conflict.
But the upside is I suspect every exchange will have an "auto award" system in place for BT2, and I think the awarding and trading will begin immediately, within hours after the hard fork.
So grab your gun and be ready for war: the next hard fork happens on Block 494,784, around November 15th-ish, and I doubt it will happen peacefully.Comment -
Personally, if you're not comfortable with what could become a very volatile time if both sides don't play nice, then yes at least until the dust settles. MPS may disagree or have a differing opinion, but I think it could get ugly if neither side wants to surrender and it becomes a war over which chain wins out.Comment -
I guess that depends on which version of "withdraw my winnings" you mean. If you mean withdraw winnings from a BTC sportsbook like Nitro / Fairlay / Cloudbet, yes, definitely withdraw because this fork will reduce BTC's value by a ton and no sportsbook has yet promised to pass BT2 onto its clients.
Even if Nitro makes that promise, I'd take it with a grain of salt because 3 months ago they promised to pass on the BCH hard fork to their clients and, as yet, haven't done squat.
But if you mean withdraw money you've already won and is now sitting in a BTC wallet somewhere back into fiat, then no, the safest bet is to keep your BTC in an exchange or private wallet for the fork because that way you'll end up with an equal amount of both BTC and BT2, so you wouldn't really care which chain wins since you'd own both.
I've actually got an OP half written about the upcoming fork that I'll try to get up tomorrow where we can talk about all this stuff, instead of having to rely on this increasingly mis-titled thread.
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Howdy, my friend! Hey, by the by, what name do you prefer: MPG? Papa? Georgio? Heh, I never quite know which angle to take on that.
And, I totally agree, this one could get ugly.
Sometimes I think the bitcoin community's a brilliant, eclectic mix of geniuses and anarchists and techies and all kinds of delightful, weird, smart people -- and other times I think it's a circular firing squad....Comment -
No preference to names, whatever floats your boat.
Isn't that what nerds are?Sometimes I think the bitcoin community's a brilliant, eclectic mix of geniuses and anarchists and techies and all kinds of delightful, weird, smart people -- and other times I think it's a circular firing squad....
One of the things that concerns me most for people is when this fork happens, people may try to sell one of the coins (BTC or S2X) assuming they have free money (and want to unload like what happened with Bitcoin Cash) and may end up getting burned because Murphy's Law could kick in and the chain they sold the coins of becomes the dominant chain and the coins they are holding are now worthless because of a 51% attack to kill the minority chain. That's why I'm considering selling some of my bitcoin and avoid cashing either coin when the fork happens until it's clear which chain wins out.And, I totally agree, this one could get ugly.Comment -
Agreed, all options have to be on the table. I want BT2, but if there's a runup before the fork, and I think I think there will be, and we hit a price that exceeds what we think BTC + BT2 will total after the fork, then the right move is to sell into the pre fork rally and buy back in when both cryptos calm down afterwards.
If we see $6500 before the fork, wouldn't it be awfully hard not to sell?Comment -
If you had to speculate, how much does BTC fall at the fork? Is it worth buying more strictly to get BT2? Just an educated guess, I know there's no crystal ball.
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Only problem with guessing the price immediately after this fork, unlike the previous ones, is that this fork could result in serious conflict between the core developers and those that want to make S2x the dominant chain. If the two sides start fighting for hash power, the price could seriously crash (pushing BTC into the $4000's or lower in my opinion) as the question comes which chain becomes the dominant chain leading to uncertainty. Personally, I'll be holding onto what I got and just waiting for the dust to settle after the fork to see if it goes smooth, even if it means losing out on some potential profit. I'd rather miss out on that than, for example, immediately sell B2x to catch the "free money" and have that become the dominant chain and the original chain's coin becoming worthless if it becomes subject to a 51% attack to kill the chain.
From my viewpoint, it's starting to look like B2x is starting to back down in terms of fighting for dominance in order to be named BTC after the fork after originally declaring B2x=BTC or bust, so this could go smooth. However, that doesn't mean they might not change their mind, MPS has better insight than me and may see the tides differently.Comment -
There's a saying that "Generals always fight the last war." This is also true regarding bitcoin hard forks. Pre-August, the only major coin hard fork anybody had to go by was ETH / ETC a year earlier. That time the combined value of the two coins immediately after the fork was significantly less than the parent coin going into the fork. So this August, people expected the same thing to happen with BTC/BCH fork, but it didn't. On the contrary, both coins went on immediate, massive rallies.
So that's what people were saying was going to happen with Bitcoin Gold fork, but it didn't. Immediately after the fork, the combined value of the two currencies was less than the original.
So it's hard to predict whether the 2 coins will be worth more than the parent BTC coin (if you want my 100%, completely to be ignored guess, I'd say a selloff will happen the day after the hf) but I am sure of one thing: if we're smart about this there will be profits to be made. Maybe right after the fork, or maybe, if there's a mass rally because everyone wants in on BT2, maybe the most profitable move will be to sell BTC at its peak, just a few hours before the fork.
So even though the price kinda sucks right now, I've still acquired more BTC. Just today I swapped a few of my highest performing Alts to BTC and, as I think I mentioned on the price thread and in a standalone thread, a couple days ago I bought more BTC at 5760, a price I don't think is right, but a price I think will go up in excitement building for the hard fork.
Heh, so, yeah, with a couple thousand admonitions about the zillion times I've been wrong about crypto and how it has a habit of making us all look like fools, the short answer is: I'm buying, hoping for a runup into the fork.Comment -
MPG and MPS, thanks for your responses. You both hit on my primary question (combined value after fork vs btc pre-fork). I missed the btc as an investment train, used it exclusively to transport funds. Debating whether to buy a small sum and holding, hoping that btc prevails. Or selling pre-fork if the value continues to rise. Thanks again for all the info.
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When will the actual distribution of BTG coins occur?Comment
