STRATEGY TO MAKE MONEY FROM BITCOIN FORK (AUGUST 1)

in #bitcoin4 years ago (edited)

There might be uncertainty at August 1 and you might loose some values on your crypto but there is a whole lot of chance to make money

August 1 is gonna be Judgement Day for Bitcoin

Transaction speed of Bitcoin too slow , it takes hours to complete ,there are altcoins which are much faster. This is a huge problem as whole point of cryptocurrency is fast and anonymous transaction, it can grow further if its not sorted.

I am not going say much about forks or segwit2x because it complex and it would not matter much in the end.
Let's go to the financial part of the fork with the help of Ethereum hard fork example

Developers of Ethereum decided that they want to change the code of Eth after the 50m worth of ether was stolen , so Ethereum fork happened it divided into two ETH and ETC . Eth went down a bit and Etc went up and after a while Eth got to its original price and Etc got down significantly.

So How to protect yourself and How to Make Money

1.Take out your bitcoins from exchanges, you will not loose them as they have taken precautions but they might freeze Bitcoins after everything is sorted to accommodate the platform , you don't want to frozen bitcoins if you want take advantage.Put them

2.Convert Bitcoins to altcoins like Ethereum as I believe they go up because people will shift to second largest crypto.

3.After August 1 buy back Bitcoin of the two if they split you believe will go down and rise like ETH.

This is just speculation by my part ,if you like please follow , upvote and resteem

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Why not keep it in BTC? At the fork you may wind up with coins in both forks, no? After the fork, if you want to be in ETH or whatever, you can sell the coins in the fork you don't want.

one coin may go down and other up , you have to play it smart to earn profit