Bitcoin D-Day Countdown is On! How to survive the Apocalypse?

in bitcoin •  2 years ago

G'day Steemians & Straylians!

There's blood everywhere on the streets of crypto world because fear and panic on the future of Bitcoin after Aug 01st is taking over. We need to keep an eye out on the following crucial dates to keep ourselves ahead of others in case we need to make certain crucial decisions with regards to our crypto investments.

BIP stands for Bitcoin Improvement Proposal.

So as you can see from the timeline above, there are 2 main events that we need to look out for, first will happen on Aug 01, 2017 and the second one may happen in late Oct-Mid Nov. It's possible that during the first event, the Bitcoin blockchain may not split but if all the efforts fail then the chain will definitely split during the second event. We'll know more details a week after the 01st of Aug.

As I've explained in my earlier blogs here and here, try and move your bitcoins to a hardware wallet before the first event. If you don't have a hardware wallet, then try and convert your bitcoin into a different altcoin like Ethereum or Ripple or whatever you think won't be affected by the bitcoin hardfork.

Whatever you do, make sure you've a big bag of spare fiat currency in your account. This is to buy tonns of bitcoin or other alt coins as you won't get an opportunity like that in eternity. The prices of bitcoin could drop to $1500-$2000 and other alt-coins could lose as much as half of their value in the week before and after the first event, that's on Aug 01. So that'll be your much awaited buying opportunity. We may not got such low prices for the crypto coins in a decade I think.

So What're you all doing to prepare for the Aug 01st bitcoin doomsday as some pundits are calling it? Please let me know in the comments below.

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I'm holding and don't anticipate a drop. I think the FUD is already built in to the price.
August 2, bitcoin will be soaring.
Fingers really crossed.

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HODL is the best policy @mattclarke. Some experts are warning though not to hold bitcoin on certain exchanges as those exchanges may go with either side of the new bitcoin chain and it could result in a big loss if the exchange goes with the lower valued bitcoin chain. But yeah definitely hold in a hardware wallet like Trezor or Ledger Nano S.

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Thanks @gautamjakhar111, will check the links shortly.

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