How To Profit 📈 From The Upcoming Bitcoin Hark 🍴 Fork Of Bitcoin Cash vs Segwit (The Cryptoverse)

in cryptocurrency •  7 years ago 

On today's episode of The Cryptoverse:
The Kraken exchange offers the opportunity to trade Bitcoin against Bitcoin Cash. It’s very high risk, but it could just be a way to profit from upcoming Bitcoin hard fork.

Win a free copy of The Secrets Of The Bitcoin Triangle course here:
https://www.cryptoversity.com/courses/secrets-of-the-bitcoin-triangle-239875/

Request a video topic here
https://goo.gl/forms/vcOaFAeIFVtj6NWw2

Please support the show by visiting my sponsors:
Purse: https://purse.io/?_r=ccint
Roboform: https://www.roboform.com/?affid=c5489
TunnelBear: http://click.tunnelbear.com/SH8n
Vaultoro: https://www.vaultoro.com/?a=100678
Ledger Hardware Wallet: https://www.ledgerwallet.com/r/d1da?path=/products/12-ledger-nano-s
Crypto Hardware Wallet Superstore: http://bit.ly/2oP9Kyv
Dash - Digital Cash: http://bit.ly/2f99G7b

Please Support The Cryptoverse And Boost Cryptocurrency Adoption By Becoming A Patron:
https://www.cryptoversity.com/enroll/

Tip Me With Crypto:
Bitcoin:
1Lak8zkQbUB5FgDD6ci6M82oTVBveuBxBT

LiteCoin:
LcWP642P7NYTHg7wC6LscdeBi9wHcj45LB

Dash:
XoJrvgobQAtphXmcxStATPJQUgZYpWVMFu

Ethereum:
0x3a8c8a9932f53a7224b51b6373cf2c726ab9b721

My Social Channels
Steemit: https://steemit.com/@marketingmonk
Twitter: https://twitter.com/ChrisConeyInt
Facebook: https://www.facebook.com/Cryptoversity/
Gab: https://gab.ai/chrisconey
Minds: https://www.minds.com/marketingmonk

Sources:
https://coin.dance/blocks
https://info.shapeshift.io/blog/2017/07/27/important-bitcoin-hard-fork-information
https://www.xbt.eu/
http://blog.kraken.com/post/1150/bitcoin-cash-and-a-critical-alert-for-bitcoin-margin-traders/

Take my online courses on Cryptoversity the online school for learning about Bitcoin, crypto-currencies and blockchains at:
https://www.cryptoversity.com

cryptocurrency bitcoin fork segwit profit
7 years ago by

Downvoting a post can decrease pending rewards and make it less visible. Common reasons:

  • Disagreement on rewards
  • Fraud or plagiarism
  • Hate speech or trolling
  • Miscategorized content or spam

Submit
$50.59
  • Promotion Cost $0.13
  • Past Payouts $50.59
  • - Author $40.86
  • - Curators $9.73
87 votes
11
Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  
  • Trending
    • [-]
      ·  7 years ago 

    Is it possible that the upcoming bitcoin hardfork it just a clever scam being done by some of the (said-to-be anti-segwit) bitcoin miners, as a way to profit quickly (with almost no risk) by doing the following...

    1. Forcing a bitcoin hardfork (with most people/miners supporting the segwit chain, with a small minority that say they are anti-segwit but may not care either way)
    2. Getting an equal amount of BTC and BCH after the hardfork (no BTC loss, only BCH gain)
    3. Selling off their BCH for BTC right after the split (something almost everyone else will also be doing)
    4. watching as BCH dies off rapidly and becomes irrelevant (due to pro-segwit supporters staying with the BTC chain, and anti-segwit supporters jumping ship back to the segwit chain, making close to 100% segwit support), in-turn making Bitcoin go back to a single chain (BTC)
    5. Sitting back and counting their money/profits as they gain on the # of BTC they have in total (so if they had 5 BTC before the split and sold the BCH they got for an extra 1 BTC they would now have 6 BTC), and then watching as their (recently inflated) BTC goes back to its normal price and likley far beyond it (making a quick profit with almost no risk of loss due to only gaining BTC (never losing), and destroying the BCH hardfork intentionally early so the original BTC price rebounds and continues up likely well past its initial price).

    Anyways, just a thought that came to mind recently as this all unfolded so I would love your input on this if you get the chance.

    Downvoting a post can decrease pending rewards and make it less visible. Common reasons:

    • Disagreement on rewards
    • Fraud or plagiarism
    • Hate speech or trolling
    • Miscategorized content or spam

    Submit
    $1.57
    • Past Payouts $1.57
    • - Author $1.21
    • - Curators $0.36
    3 votes
    [-]
      ·  7 years ago 

    There is still a possibility (however small) that BCH will survive and BTC will die.

    Downvoting a post can decrease pending rewards and make it less visible. Common reasons:

    • Disagreement on rewards
    • Fraud or plagiarism
    • Hate speech or trolling
    • Miscategorized content or spam

    Submit
    $0.00
      [-]
        ·  7 years ago 

      How can Bitcoin Cash (BCC) launch on 8/1 without any mining support? Is that even possible?

      Downvoting a post can decrease pending rewards and make it less visible. Common reasons:

      • Disagreement on rewards
      • Fraud or plagiarism
      • Hate speech or trolling
      • Miscategorized content or spam

      Submit
      $0.02
      • Past Payouts $0.02
      • - Author $0.02
      • - Curators $0.00
      1 vote
      [-]
        ·  7 years ago 

      A selection of miners who are currently mining on the main chain have announced that they will switch their allegiance as soon as Bitcoin Cash launches.

      Downvoting a post can decrease pending rewards and make it less visible. Common reasons:

      • Disagreement on rewards
      • Fraud or plagiarism
      • Hate speech or trolling
      • Miscategorized content or spam

      Submit
      $0.00
        [-]
          ·  7 years ago 

        Downvoting a post can decrease pending rewards and make it less visible. Common reasons:

        • Disagreement on rewards
        • Fraud or plagiarism
        • Hate speech or trolling
        • Miscategorized content or spam

        Submit
        $0.02
        • Past Payouts $0.02
        • - Author $0.01
        • - Curators $0.01
        1 vote
        [-]
          ·  7 years ago 

        I watch this video, very nice and good for users. @naz722

        Downvoting a post can decrease pending rewards and make it less visible. Common reasons:

        • Disagreement on rewards
        • Fraud or plagiarism
        • Hate speech or trolling
        • Miscategorized content or spam

        Submit
        $0.00
          [-]
            ·  7 years ago 

          I would like you to livestream and show your trades on kraken live with us very much. I was planning to also use kraken when I saw there post.

          Downvoting a post can decrease pending rewards and make it less visible. Common reasons:

          • Disagreement on rewards
          • Fraud or plagiarism
          • Hate speech or trolling
          • Miscategorized content or spam

          Submit
          $0.00
            [-]
              ·  7 years ago 

            One question. I presume that the price of BCH on kraken will drop hard fast. Would the Chinese exchange 'viaBTC' keep a higher price because less people will try to sell there and maybe even more Chinese buyers on viaBTC?

            Downvoting a post can decrease pending rewards and make it less visible. Common reasons:

            • Disagreement on rewards
            • Fraud or plagiarism
            • Hate speech or trolling
            • Miscategorized content or spam

            Submit
            $0.00
              [-]
                ·  7 years ago 

              I expect BCH to crash pretty much immediately yes. If the price is higher of ViaBTC then traders will simply move their BCH to that exchange and sell it there instead, pushing that price down too. Traders will sell wherever they can get the best price.

              Downvoting a post can decrease pending rewards and make it less visible. Common reasons:

              • Disagreement on rewards
              • Fraud or plagiarism
              • Hate speech or trolling
              • Miscategorized content or spam

              Submit
              $0.00
                [-]
                  ·  7 years ago 

                Ok thank you for the reply. FYI, BCH wallet 'electron cash' is out.
                http://www.electroncash.org/
                Don't know if it is safe yet. I am even considering transferring some BTC to kraken so I can trade BCH immediately

                Downvoting a post can decrease pending rewards and make it less visible. Common reasons:

                • Disagreement on rewards
                • Fraud or plagiarism
                • Hate speech or trolling
                • Miscategorized content or spam

                Submit
                $0.00
                  [-]
                    ·  7 years ago 

                  the bittrex exchange is also supporting bitcoin cash and will give anyone with a bitcoin deposit in their wallets as of july 31st 1 for 1.

                  Downvoting a post can decrease pending rewards and make it less visible. Common reasons:

                  • Disagreement on rewards
                  • Fraud or plagiarism
                  • Hate speech or trolling
                  • Miscategorized content or spam

                  Submit
                  $0.00