Vlog #65: Preparing for the hard fork.
This hard fork is not my first hard fork and it won't be my last. But it sure is a special one.
We are talking about a huge change for Bitcoin and anything can happen.
Bitcoin is by far the most important crypto in the space and just because of that anything that happens to Bitcoin will have a huge impact on other cryptos. Including Steem.
Most of my Bitcoin is in cold storage. I have been contemplating getting them out and make a quick buck on Bitcoin Cash.
Personally, I think it will be dumped after the hard fork and selling it as fast as possible would be the way to go.
But, I decided against it because it would mean I have to put my BTC on an exchange and nowadays I tend to avoid those (like the plague).
For me, the risk feels too great. I don't know why I feel this way but I tend to listen to my gut.
What I am going to do, if I am right about the dump, is pickup some Bitcoin Cash cheap and take a gamble holding.
Because I made this decision I don't feel too stressed about tommorow. There is basically nothing I can do about it.
I do have some Fiat on the sideline in case there is a huge crash for whatever reason and that's always a good time to pickup some cheap crypto.
I talk about it more in my vlog. Starts @2:10
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Bianca's haircut looks really professional haha
The slight hair fade looks pretty good to be honest.
The diet may be hard but you can do it @exyle. I believe in you. Flex the biceps with some dumbells, not with the spatula.
You are going to be like Chris Pratt:
Despite the fact he may have some outlandishly expensive personal trainer but we will be your trainer.
The fork is coming! I'm apprehensive but I'm also excited to see the outcome of this fork. I can't wait to see how the market reacts after BCC hits the market but it will most likely be positive for altcoins as people dump their BCC for fiat or altcoins.
I think it may be a good idea to keep it in cold storage rather than having it on an exchange on that day. Let's see if any problems arrive on their when tonnes of free money is dumped on to the markets.
LOL! haha! :)
I think we will see some fireworks today. I took the afternoon off :)
Good post and how you handle this. I wish I had some bitcoins but I am not that techie. Steem is there to stay.
Keep on steemit.
Great post brother. I'm doing the exact same thing, just keeping my BTC in cold storage and see what happens when the dust settles tomorrow. I have that old trader in me wanting to get on an exchange and see if I can make some quick profits, but if I've learned anything throughout the years, it's that when you're chasing quick money there's a lot of risk involved, and that's just not for me anymore. This is a race, but it's a marathon, not a sprint.
I think it's great you and Bianca are getting healthier. It's so easy to develop bad eating habits in this busy life we live, and that's why it's so important to take care of yourself. My grandfather had a saying regarding health, he'd say "You can't out exercise a bad diet", and that's very true. Especially as we get a little older.
We can all sit back and see what happens tomorrow and just enjoy the ride. It's going to be an exciting day. Have a great night brother!!
Yes, waiting for successful completion of BTC Hardfork, hope everything goes smoothly.
I've taken my btc to my electrum wallet. There is a free lottery of bcc after the fork. The procedure is easy to follow from the link below. It involves setting up another two wallets. Drain your original btc wallet to a new wallet. You can then drain it again to a new bcc wallet for your bcc. This way your new bcc wallet can't get at your btc because it's gone. https://www.reddit.com/r/Bitcoin/comments/6pn0ui/statement_regarding_bitcoin_cash_and_electrum/
A lot of lemmings will be jumping off the SegWit cliff tomorrow, but many may not and could stick with the original Satoshi vision of Bitcoin, which is Bitcoin Cash + 8MB. People see this hard fork as Bitcoin Cash forking off of Bitcoin but I see it as SegWit going off into a new Bitcoin, while Bitcoin Cash continues as the old one with a much larger block size. Maybe people won't sell their BCC.
If you are right, no cheap Bitcoin Cash for me :). Let's see it's an interesting day today.
It's a good idea in general not to keep your cryptocurrency on an exchange for safety reasons. I too am expecting people to sell Bitcoin Cash initially. It actually might be a really good buy if the price plunges significantly. I don't think it will ever overtake the original Bitcoin but it can be competitive as a top 30 cryptocurrency.
Certainly agree on the Bitcoin HF.
I also don't anticipate on new developments happening, it seems all the cards are on the table now.
And that's probably a good thing for cryptocurrencies in general.
But nothing is set in stone, interesting times ahead still!
Totally agree bitcoin will be dumped after the hardfork... A great buying opportunity is coming! Watchin your video as I write this... diets with booze are fun haha
My prep work involves being ready to gather cheap Steem in the event of market pump or dumps and having cash ready to buy in if things get wild.
I don't have much in Bitcoin, but I may end up with a few BCC tokens.
This is my first btc hardfork, so I am planning on watching until I pass out in an attempt to learn something.