One major fact people seem to be overlooking with this upcoming 'pretend' fork is that the majority of exchanges have not made positive statements about splitting your coins for you, some have even said they won't, including BitMEX and Coinbase.
However, once we zoom into this situation, the only rational course of thinking is to assume that people will be removing their bitcoins from exchanges to their private wallets where they can split their Bitcoins during a potential fork.
This has been a point that I have not seen discussed anywhere, people are going to take their bitcoins out, the smart people anyway.
What will happen when there are tiny volumes of BTC?
How volatile will the alt coins be?
Not to mention, those bitcoins will likely be held for a few days to prevent replay attacks and other such... bizzare technical stuff...
I think Bitcoin volatility is the only tip of the iceberg....
Once you take the number one trading currency out of circulation... what will happen?
Any ideas?
Image from Pixabay
Bitcoin will be high on exchanges but nobody will have coins there to sell. The action will be for those who leave alts on exchanges.
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It will just be another alt coin that will die in the long run.
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It's going to be a massive shit storm.
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Apart from it being a week of extreme volatility, I do not think anyone can venture much more.
What we can do is study what will happen and analyze it for the future, it will serve to make projections for Alcoins that will face similar problems. It will also give us an idea of the stability of the crypto market itself.
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Basically it's going to be a completely unpredictable mess... :P
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theres also ETH pairs in some places but yeah, trading should slow down
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Yeah true, for a few coins, a few coins have USDT too - maybe that will stabliise some... good point
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There will be less transactions than normal, but I think everything will be fine. As long as miners are still mining, the blockchain will move forward, and soon after August 1, everyone's going to put their BTC back on the exchanges.
My question is, what will BTC and altcoins prices look like leading up to August 1? There could be a big opportunity to profit!
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That's the thing, the blockchain is.. meh. It will still keep going, mostly.
The exchanges...... quite another
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I have 40 cents worth of bitchcoin in my wallet and I don't care 😎
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#yolo
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Very interesting what will happen with BTC growing fast like a mushroom
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@lukestokes is talking about this and showing people how to move their BTC off exchanges for the split in his Understanding Blockchain Freedom series.
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id check out @joseph s last post on splitting.... but the bitcoins that remain...
Bittrex should be ok check @kingscrown s last post
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Good questions - have the same and no answer :-D
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Haha yes! What is with the Shit Coins? 😂
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Black Friday bargains galore!
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