Bitcoin post 01 August 2017

[Zeeko]

Hey all,

So im new to the game,but just need some laymans understanding of what is expected to happen
From my limited knowledge the cryptocurrency coins will be split.
Everyone is expecting it to collapse.


Am i on the right track?

 

[Thor]

No. Payments won't work on that day.

Noobs think it will crash.

It won't. It's not the first split either.

 

[Zeeko]

So that means it time to capitalize on the sell outs?

 

[Mr Scratch]

So that means it time to capitalize on the sell outs?

It means that you need to read up. Dont ever take something someone says and act on it without your own research. (and no, asking on a forum is not research)

 

[saor]

If it's down to 15000 I'm cashing out my Allan Gray and it's all in the btc :twisted:.

 

[Purply]

Some are hoping that it splits or at least the miners are aiming for that as they can then mine the new coin that will also consist of 21 million coins which is the btc limit. Similar thing happened to Ethereum awhile back with the Ethereum Classic outcome

Whether it happens or not remains to be seen I guess.

 

[Cube3]

Afaik, if there is a split your coins are valid on the old and new blockchains ?

 

[Raees123]

Afaik, if there is a split your coins are valid on the old and new blockchains ?

Yes your coins will be available on both blockchains, just make sure your coins are not on exchanges because it can get a little tricky.
Have your private keys on a walllet on your PC or ledger nano.

 

[etienne_marais]

Low of R25 000 on Luno earlier.