Fear smells just like money.

Cool! I will agree with you. August 1st is something that should be cherished rather than feared. I dont know why people are too much afraid of this. August 1st is going to make bitcoins more important and valuable than ever. Bitcoins are definitely taking ride to moon in the coming months.
You are right, this will turn to a more formidable Bitcoin in the long run, though people can't help but panic at times like this because there is actually possibility of losing money or drop in value especially those not having very deep pockets.