Hey everyone! Well, tomorrow's the big day! We're all looking for that big lottery ticket! Whether this fork will make things better long term, it's hard to say. You'd be better off asking @DollarVigilante or @StephenKendal, but what I do know is this will be an epic day for Bitcoin!
From what I've studied, this fork will lead to a massive rally followed by a major correction, and following a short period of sideways trajectory, we will soon find out if the momentum will shift towards Bitcoin Cash or classic Bitcoin.
There will likely be a flood towards the altcoin market following the fork. People have been cashing their altcoins in for Bitcoin this past week to potentially make a good few dollars off of it on August 1st. Many will be switching back in the coming weeks.
At the moment, Bitcoin is hovering around $2862 USD, but I think it'll likely climb above $3000 in the next day and a half. I could be wrong. I may be putting too much faith in people's interest in this fork, but I know for sure that everyone I know in the Bitcoin community is talking about it.
The part that stands out the most about the fork is possibly faster transaction times which will greatly increase the demand and usage of Bitcoin.
Got my Trades and Popcorn Ready.
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hehe great pic.
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LOL I don't know what's going to happen, but I know it's going to be epic! :P
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Hilarski is EVRYWHERE. Central America for the win!
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Thanks for sharing
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I can't wait to see the reaction from the mainstream media.
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Mmm! I had a sleepless night because of this fork. Just a few hours left before we can observe the experts predictions.
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I think we all feel very similar about this. Let'S hope that Steem is rising now to old heights and beyond.
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I have to admit I'm clueless about what's going to happen. Nothing so far has happened the way anyone predicted. There wasn't a huge Bitcoin selloff the day before the fork. In fact it was the opposite. People were selling their altcoins in order to buy up as much Bitcoin as possible before the deadline, presumably to get the "free" Bitcoin Cash shares that go along with it. Once that was over they bought right back into the altcoins which are already rising and not going into a panic sell as many predicted. In fact I don't see many signs of panic in any of this market. It all seems rather logical and orderly. I think the market absorbed the fork idea pretty quickly. The biggest dip was halfway through the month, a great buying opportunity, but I don't see any more reason for a dip now (barring any unexpected events.)
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I believe this will be a small bump in the road on a long term view of bitcoin, this will be forgotten as we move toward a new age and will most likely be remebered a silly time to be fearful. I see this as a turning point and will help bitcoin get to a new level of interest as we pass over this current situation.
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I'm wondering if lite Coin will lose some steam.
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Not sure how this all works anyway but I'll watch and learn I guess - thanks for the info as it will be interesting to watch
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Well I hope that this fork will make things better for the altcoins but what about bitcoin cash ? I think it will lose value immediately because everyone is just talking how they are going to sell it on day one.
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Finally! It has been an emotional rollercoaster the past few weeks. I hope this will now bring some development particularly for Steem which has suffered a lot from the SegWit FUD.
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Your already have Litecoin with faster transaction time. Faster transaction time does not necessarily increase the price of BTC. If BTC is a safe haven and a store of wealth being a little slow can actually be attractive. If you look at BTC as a stock and BCC as a dividend, BTC should decrease with the same amount as the dividend (BCC). However, this need not be the case. Anyhow, I am pretty sure that we will get a rise in the Alt-coin market as a sell down in BTC and/ or BCC will go into old Alt-coin positions. In retrospect I suspect we will all look back at this event as 'noise'. But I also have Popcorn ready:)
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I am tempted to sell before the fork, I think the price of Bitcoin could drop along with Bitcoin Cash, very tough call ahead. Anything could happen for sure.
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Hmm, nothing really happened. Very little volatility so far.
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The fork is ultimately a good thing.
Bitcoin cannot keep trying to be two things. It needs to focus on what it's good at. Most of the community is more or less harmonious, but there is one faction that has, for many years, been sowing contention.
Cutting ties with that faction will be like dropping a sand bag from a hot air balloon. It will cause the rest of the system to rise.
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I got out of BTC since I don't have much anyways and powered up my SP to avoid this extra hassle. A pie cut 14 million slices or 14 million big slices and 14 million small slices is the same pie. Unless the technology provide real value add I don't understand where the extra value came from.
I think there is still lots of uncertainty on which alt-coin is going to be adopted as the standard. At this early stage it is like mining, the few adopted as standard will produce great return but there probably will be a lot of loser too. How similar this situation is to real mining.
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I think you did the right thing, yet getting extra Bitcoin cash would have been rewarding, if BTC was kept in some wallet.
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What was interesting is I read about all these delay withdrawing from Coinbase and is it was just minutes to transfer to blocktrades and got steem when I did it.
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Nice post. Im definitly looking forward to tomorrow.
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