Right, so Bitcoin is probably going to go through a hard fork....
Bitcoin Ultimate and Bitcoin Classic. One using Segwit and the other increasing block sizes. Great more confusion for the crypto space!
What impact will it have on the coin? In my opinion:
In the short run, It's not going to be good for the coin and it will probably end up with a lower value. This is only in the short run. In the long run, this could be very beneficial for Bitcoin. Competition between two different protocols on the same network could push Bitcoin to new heights with faster speeds, lower fees and bigger blocks. The value could rise significantly into the future. Let's face it, without rivals things always get a little stagnant.
Another positive is that if you do have an investment in Bitcoin, after the fork you will have DOUBLE your coins spread over each protocol! WooHoo! Free crypto for everyone!!! Sounds too good to be true, well that's because your coins are guaranteed to have half their value. Awwwww. Unhappy face :(. Also if things do get dicey for Bitcoin it might even fall lower with more uncertainty.
Look on the bright side though, at least Bitcoin will be cheap again! Overall it could be a good time to reinvest. The Coin is still in its infancy, there's a long road ahead so this could just one of those minor blips everyone forgets about next month?
To get back to the title of this blog... Buy or Sell? Personally, I'm going to sell everything. I'm not going to risk a massive loss on a great investment. What Il then do is await to see how this battle plays out and reinvest in the appropriate coin, basically the one with the best features, community etc. You get the picture.
It's a nice open-ended blog this... Please comment your ideas, plan, thoughts. Let's here what you have to say about it. Also which protocol you think is going to come out on top? It's all in the air at the moment and that's why we love crypto! Anything can happen. Follow and upvote if you like this content.
Peace out from Greenerz
Upvoted for this insights and I am holding bitcoin as well as altcoins.
good strategy
Thank you for the insights....I have been wondering too as I am new to Crypto Currencies. Have followed and upvoted you. Hope you can follow me too!
thanks buddy, followed you back!
good idea @greenerz !!
continue..
i support you..
good luck.
appreciate the comment buddy
Bring the sale back lol
Its coming bro!
I regret not jumping in head first the last time they halved bitcoin! It's like a stock split. Very foolish to jump out now, especially at a loss...
agreed!
A Chain split is never a good thing, because it creates confusion and fear and that is never a good thing for investors. On the other hand, if we can get rid of the group of people who are sabotaging and slowing down Bitcoin, then we have to cut off the limb that is causing all this cancer in our community. I would rather go forward without a arm and/or a leg, than dragging a sick limb behind me that is causing discomfort.
very valid analysis, Bitcoin is almost cleansing itself. thanks for the comment and good point
Smart as it's over 2500 I heard it will drop to 1700
or even lower!
Very good blog. I was about to post a similair post. I strongly advice people to only buy in to cryptos that have a solid background: A solid team, product, advisors, preferably VC investors, etc. Sell all cryptos that don't have this solid background. It's a waiste of money. This is quite an interesting website I found: https://www.coincheckup.com Since I use this site I make so much less basic investment mistakes. Check for example: https://www.coincheckup.com/coins/Bitcoin#analysis For a complete Bitcoin Detailed report