My stance on Bitcoin and cryptos a week before the forkening
I've been reading this that and the other about Bitcoin and alts the past weeks.
What seems to be the consensus is that money has been flowing into Bitcoin in advance of the fork which will take place around the 15th of November.
Now, I've been reading a lot of theories abut Segwit2x, for instance that it is a corporate takeover of Bitcoin like this amongst many reddit threads that has been circulating
https://www.reddit.com/r/Bitcoin/comments/74vn2u/is_segwit2x_the_real_banker_takeover/
Some has argued that miners can't be profitable with core and 2x, so all of the hashing power will go over to Bitcoin Cash.
https://www.reddit.com/r/btc/comments/7b0tom/the_1mb_simply_cant_survive_and_signalling_for/
What have I personally been doing?
The only thing I have done is moved some of my Litecoin holdings into Bitcoin Cash. With all these forks (and they are actually not doing too bad) I'm questioning the need for Litecoin. I'm still keeping some, but I wanted to make what I considered a low risk trade. Buying Bitcoin Cash before the fork just IN CASE the last theory is correct. I think regardless, Bitcoin cash is going to live and do well. And since there is a chance (even though it might be very small) that Bitcoin Cash could be THE Bitcoin..well, I'd like to own some extra ones.
Other than that it's just about hodling in my case. I'm ready with my alt coins (which I have been very lucky with..I haven't lost anything while Bitcoin has been going up) and my Bitcoins in a safe wallet.
I'll update if I do something else, and/or if I know something new.
Stay safe!
The corporate takeover already happened, when Blockstream hijacked Bitcoin's development.
Nice conservative approach it seems. I hope Bitcoin Cash does not become the real Bitcoin, my holdings are extremely scant. Like zero.
You didnt hodl bitcoin in a private wallet when it forked off to bitcoin cash?
I did, but then I bought some additional bitcoin cash today so if it wins I come out of it a little bit better from where I am today.
I think it is worth mentioning that the first link you posted is pointing out that 2x as well as core might be under corporate attack...
If this theory is arguing for any version, it is Bitcoin cash.
I mentioned corporate takeover?
Personally I think Bitcoin core will continue to be boss with Bitcoin cash as number two. Segwit2x will be mostly worthless with bitcoin gold. Just curiosities like that other fork long ago (bitcoin dark?)
No, I wasn't clear apparently:
Your first link is discussing the possibility that core and 2x are both under attack.
Which was new and interesting to me, since so far I had only considered that it is core that might be suffering influence from the banks in order to keep transactions slow and expensive - to lower the threat to fiat.
By the way, I did the same as you, switched partly to BCH when it was 450.
Was nervous about it, but turned out to be a good move so far.
Lets see what will happen in future with alts ..... still now beaten by btc badly
img credz: pixabay.com
Nice, you got a 70.0% @alao upgoat, thanks to @scandinavianlife
Want a boost? Minnowbooster's got your back!
The @OriginalWorks bot has determined this post by @scandinavianlife to be original material and upvoted(1.5%) it!
To call @OriginalWorks, simply reply to any post with @originalworks or !originalworks in your message!
You may be interested in reading this:
https://theflippening.github.io/open-letter-to-bitcoin-miners-from-another-miner/
wonderful post.
.jpg)