im curious what is going to happen when the BTC upgrades, im under the understanding that a new HARD FORK is being created for it....
no joke right there.If we can't get our way the legit way, we will force it on everyone..... the core team has lost their minds with this mentality. Destroying bitcoin. Going against it's core principles... one as basic as consensus.... It's sad... Truly sad. They lost a LOT of respect in my eyes.
This hardfork is going to cause some serious waves......
I may shift to cash to ride this out.
Hi Phillip,
I have all BTC on Electrum and I'm not sure what to do
Looks like someone went full retard and decided to split BTC
I have no clue how to split BTC and there is one article from Electrum site as to what to do but they are talking about Linux and I would rather kill myself than touch that nonsense system.
Should I just quickly download Bitcoin core and transfer all BTC there or sell all coins I'm holding since 2013 ?
(It's sad to see end of the bitcoin after all those years)
Thank you for help
depends on how many coins you have.
if you are looking to cash 10 coins or more you may be taxed
More than that but I'm in EU so that would not apply to me .?
I think this is good advice:
http://www.nasdaq.com/article/a-beginners-guide-to-surviving-a-coin-split-cm764421
TLDR;
1. Control your private keys.
2. To be on the safe side, avoid any transactions shortly after the split.
3. As the dust settles, split your coins. How, exactly, will depend on Bitcoin's post-fork landscape.
Basically make sure you have control of your wallet(s), don't panic then wait a while to see what happens. The value may drop as the shitstorm settles down but imho it will return to current levels or higher. Remember where it was a couple of years ago!
In a recent meeting with my group, to manage the risk of this BTC fork come 1st AUG.... will be moving a large BTC position to ETH and Litecoin.
We also have concluded that there will be panic selling but BTC will rise up above 3K soon enough.... (past case ETH vs ETC), we will monitoring this situation and may buy BTC if it dips below 1700.
I've been thinking about ways to hedge for the fork without going to cash as well.
Has anyone used Vaultoro? It's an exchange where you can switch from BTC to gold. The downside is it's a centralized exchange so it wouldn't be wise to put to much on it.