Hold On for the BTC Wild Fire Storm
Some would call the Bitcoin price crash that will inevitably would happen on August 1st as the "BTC Apocalypse" but actually the crash is just starting right now. We can feel it here at steemit as our post earnings dwindle down as if it was the bitcoin itself we are holding here. I just prepared myself by putting my little amount of BTC in a paper wallet because I cannot afford a hardware wallet since the value of Bitcoin that I am holding is only half of the value of the hardware wallet, so I am just saving enough so that I will have something to pull out in case of something uneventful happens.
Keeping our BTC in a hardware or paper wallet makes us have the private key for it which then will enable us to prove the ownership of those BTC. In the case of the Bitcoin paper wallet, we can then transfer them into an online wallet that supports to make us get both BTC tokens in a case of a fork. Right now all I have is steemit to rely on and I am just hoping that only a few days after Aug. 1st, all have settled and prices would come right back up as expected when a new and shiny Bitcoin is accepted with a much better speed of transaction and considerably lower fees.
Luckily for some divine intervention, an opportunity arrived on my water damaged doorsteps and I stumbled upon the steemit community. Here I found many caring individuals that are ready to help and support so I got saved from most of my worries in my important needs for survival. So even though there is a problem at Bitcoin, there is another opportunity for me to earn and continue my journey in life and serve my mysterious purpose, maybe for other people to practice their kindness through me or maybe find an inspiration and realize how lucky they are being just the way they are.
See also my recent article on "Life"
https://steemit.com/life/@cryptopie/it-s-not-a-pretty-food-but-i-have-the-fine-appetite
I believe that all the quality cryptos will be recovering shortly, in the next week or 2 probably.
From what I've been hearing, Litecoin is about to take of, faster than Bitcoin. Litecoin and Bitcoin are both making an announcement on August 1st,
and the speculation is that Bitcoin is going to say that they are focusing on security and being a store of wealth, and that they are going to let Litecoin become the coin of choice for small, quick, cheap transactions.
If that's the case, Litecoin will shoot up in price quickly, possibly to the same price that Bitcoin is. Bitcoin will stay valuable and continue to rise too, but Litecoin will rise much more quickly.
Anyways, we don't know for sure what will happen obviously.
But several people are switching the bulk of their bitcoin into litecoin.
... just thought that I'ld give you a heads up on what I've heard.
Yes Ma'am @canadian-coconut
Wow that is something surprising to know about, it raised my optimism for both coins. I also hope that my wallet provider here in my country make use of LTC side by side with BTC soon.
Thank you again for the support I am very happy.
I'm actually not worried right now, surprisingly enough. If Bitcoin crashes to the prices they dipped to in 2015 then I'll be buying them up by the bucketload :) - people see the downfall of the market as a time to sell, or hold. Me? I've learned through bitter experience of watching my 14 bitcoins go from £4000 to £1400, and if I still owned them now they've be worth $28000
When the market plummets I see dollar signs haha
I also had the sinister longing for a BTC price crash to it's lowest. It is a fantastic time to own a whole BTC for me :)
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Thank You - @blueorgy
I will be picking up some BTC during this blood bath! years from now, those who sold will be sorry!
when the Segwit update will come into action is it on 1 AUG OR BEFORE?
From https://bitcoinmagazine.com/articles/countdown-segwit-these-are-dates-keep-eye/