Post
Topic
Board Speculation
Merits 2 from 2 users
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
JayJuanGee
on 07/12/2024, 06:37:31 UTC
⭐ Merited by AlcoHoDL (1) ,vapourminer (1)
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...
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 Smiley

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.

Best time to sell Bcash would have been Dec 2017 though. Looking at its price right now, the premium might be worth more.

The best time to sell BCH was when I sold 1 BCH for 0.5 BTC at Kraken! At that time, Kraken was overloaded and the website barely worked. BCH was traded like crazy, very volatile, and the exchange rate elsewhere was much lower when I saw that price and clicked "sell". It dropped right after that. In retrospect, it was my best trade ever Cheesy
congrats to that!

I regret not having sold that early. After that BCH was just a shit show like any other shitcoin.
I kept it quite a while as a kind of hedge, because I thought "If something happens to BTC all miners would have to mine BCH", because of the same algo.

So you could say I took off some risk for rewards, but in reality I just feel stupid having kept it too long.
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.

Nice.
Can upgrade to a "steak" tonight.  Cheesy

does it go with instant ramen ?  Shocked
A looooong time ago I ventured into an authentic Chinese restaurant alone in Chinatown for some dinner.  Previously I had only eaten the local takeout "combos" and had no idea what to order as they had no combos.  I selected 3 dishes and the waiter looked at me deadly serious and said, "TOO MUCH RICE!  You order too much rice!" he didn't speak English well and I only knew how to say "Happy New Year" but I got him to pick 3 menu items for me that were more representative of a complete meal - that's when I discovered beef and broccoli in oyster sauce and I order it every time I have Chinese food now.  Anyway...
 TOO MUCH FLOUR!
 Also, what are you rich?
Sweet story!
That dish sounds delicious. I will try it ...at least if when we hit 1m!  Tongue

Rich ? I'm sure you have heard about these boating accidents that happen to so many of us .
... btw I think it was Dude who was the first one to tell us about it, if I remember correctly!


For some reason, The dude's boating accident was even caught on video.. How convenient.

Bitcoin is creating very interesting support in this price region. This is very good.

mmm 133k for new years eve
162k for Jan 27th

252 k for April 2
It will be extremely difficult not to sell too early if this happens. I’m still expecting the peak to be in October, so if we are so high so early it will be hard to not start selling. The more and more I see how much buying is on the way, the more I think we could be looking at $500K next year. That will be hard to hold up to.

Yeah but, how much should any of us need to sell?

We can sell some at $133k, sell some at $162k, sell some at $252k, sell some at around $500k, and perhaps a few other places along the way, and then why try to be greedy about any of it. 

I could chart it out, yet a lot of it is already captured within the ideas of price-based sustainable withdrawal.

I know some of you guys want to sell and to buy back cheaper, I don't consider those to be great plans, yet I suppose you could choose to sell higher amounts if you are planning to buy back cheaper, and hope it works out for you.. .. so whether you sell 10% of your stash on the way up to $500k-ish or 30% or 50%, I have difficulties considering selling more than 50%, yet surely I know that some guys play with their BTC like that.... and so to each their own.  I am on the lower end of the range, and surely I still have plenty of BTC (and plenty of cash too) so I am not feeling like I am missing out if I don't sell the higher amounts such as the 30% or the 50% or more kinds of sales that other guys end up doing.