My Bitcoin Fork Strategies and Ethereum Parity Wallet Hack
The market cap has fallen from just shy of $200 billion to now $193. Bitcoin dominance is still holding at 60%.
Fork strategies: https://www.whatbitcoindid.com/blog/2017/10/31/my-strategy-for-trading-the-b2x-fork-now-to-the-end-of-november
Ok so my fork plans are to leave what Bitcoin I have on CoinBase, Bitfinex is another that supports it I believe. I’m not sure how fast they plan to credit me B2X, but the fact that they CoinBase are implementing their own replay protection is for me the easiest option. If you hold a lot of bitcoin you may want to pursue an alternative method, one that does not give control of your bitcoin over to someone else.
If you don’t want to risk putting your coins on this exchange keep them in your hardware wallet and you can split them manually. I did that for the Bitcoin Cash fork but it was a pain.
So some interesting news came out today: http://www.cryptoanalyst.co/2017/11/07/ibm-suggests-blockchain-cannabis/?ref=rethtrader Yet the pot coins pumped yesterday, dumping today: https://coinmarketcap.com/currencies/potcoin/ So potentially there were some in the know about news like this about to be released.
https://www.cryptocoinsnews.com/bittrex-segwit2x-bitcoin-will-remain-btc-market-will-decide/ Bittrex will make all reasonable attempts to credit our users chain split tokens. And the real Bitcoin keeps the name BTC.
Goldman Sachs prediction: https://www.cnbc.com/2017/11/06/goldman-sachs-predicts-bitcoin-can-run-past-7900.html?__source=facebook%7Ccrypto Wow, if they get that one right, they’re essentially geniuses.
The Bitcoin rich list: https://bitinfocharts.com/top-100-richest-bitcoin-addresses.html We’ve looked at it before, some few things to mention that I didn’t before. 1, Funds can be split over several wallets so it’s not a truly representative measure of people’s wealth, and 2, anyone of the whales so isn’t aligned to the vision of Bitcoin Cash can go to the exchange and dump the hell out of it at any time. Also remember that Coinbase, one of the largest exchanges in the world, still hasn’t credited its users with Bitcoin cash at the time of the cash fork. It’s planned for January 1st 2018. Dummmp?
Will there be a dip after the fork? Some are predicting so, the market share for Bitcoin is very high, and was at 45% before fork mania. The current price of B2X should be factored in your equations. So, for example BTC is worth $7500 at the time of the fork, and B2X is worth 25% of that. That means you need at least that 25% drop in Bitcoin to actually lose money. How likely is that?
Others predict that the dip will be cancelled out by people waiting till post fork to buy. Although that logic is beyond me. If they’re waiting to see if B2X truly becomes the new Bitcoin then potentially I can see that, although from everything I’m reading I just don’t see many people being worried about that.
Can Ethereum ever reach 300 again? I’m being facetious. Imagine though setting lures for Ethereum at like $280, selling at $310 rinse and repeat. I know that only represents a couple percentage gains but when you’re working with decent amounts... No doubt that’s what some people are up to.
People are now searching: http://fortune.com/2017/11/07/bitcoin-asset-buy-gold-cme/ I don’t feel I should spend time responding so one negative comment, not when 99% of the ones I get are so nice. I really appreciate your support guys, especially on the last video was a very nice read. One guy said I was completely idiotic to suggest that in my opinion Bitcoin is a better store of value than gold. That’s fine you’re entitled to your harsh opinion. One thing I was trying to point out though was my views are not only shared, but extremely popular.
It comes back to the argument of, do you like your own intelligence, or money more? For example, if you look at blockchain technology and think it’s not that great, the market is overvalued and people are stupid. You are going to steer clear. Gold is better to buy. The past fundamentals that brought Bitcoin from worthless to over $7000 is still just as prevalent and more relevant than ever, and you have every reason to assume it will continue to grow if you’re a betting man, even if you disagree with it. But you use gold because it’s been in use for thousands of years and is obviously better. Yet for the last 5 years you’ve lost money holding Gold. Every weekday you have to take the bus to work instead of a car, you actually have to work, you pay rent for your home instead of owning it.
If you aspire to more, and don’t think you can do it with Bitcoin that’s fine. But the point is, there are many who aspire to more and think they can with Bitcoin, and that it’s astronomically better than gold right now. It’s completely idiotic to ignore that.
So, a project known as Polkadot was running an ICO, I actually have never heard of this ICO until this news broke, and lost $91 million dollars of investors’ money. Well I say lost, they know exactly where it is, they just can’t access it anymore. This wasn’t really their fault, but the well-funded multisig full node Ethereum wallet known as Parity.
This is the screenshot of what happened: https://www.reddit.com/r/ethtrader/comments/7beypc/a_battle_for_the_ages/ A 27 cent transaction, with the message saying “kill”.
Parity lost a lot of money: https://www.reddit.com/r/CryptoCurrency/comments/7beos3/the_guy_who_blew_up_parity_didnt_know_what_he_was/
So that’s leading to memes such as: 
And then: https://www.reddit.com/r/ethtrader/comments/7bevqn/no_more_panic_selling/
Someone was attempting to say that there is no upside for the troll that did this, because he can’t access the money either, and could get into trouble for doing it. I kid you not though I watched one of these systems 32 deleting videos earlier today.
This is one of the downsides to decentralization. Although we would imagine we will eventually get over such vulnerabilities.
💙 Forks. And Spoon, but not as much.
💰 My recommended exchange is CoinBase: http://bit.ly/2hZh8bg
🔒 Recommended wallet - Ledger Nano S: http://bit.ly/2xeymFX
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☄️ Time-stamps!
00:14 Bitcoin Price Thoughts
00:42 Fork Strategies
02:09 B2X Price
02:34 What to do for the Fork
03:41 PotCoins Dump
04:10 Market Recap Continues
06:56 I'm Completely Idiotic
09:15 Polka-Dot Parity Hack
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🙃 More of me:
◆ Slack: ichatcrypto.com
◆ Steemit: https://steemit.com/@crypto-daily
◆ Twitter: https://twitter.com/Crypto_Daily
◆ Facebook: https://www.facebook.com/thecryptodaily/
◆ onG Social: https://ong.social/cryptodaily
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⚡ No donations accepted! But if you would like to support me, please consider sharing this vid. Thank you!
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⭐ Links!
◆ Fork Strategies: http://bit.ly/2zE5QS0
◆ Pot Blockchain News: http://bit.ly/2AhLsSU
◆ Bittrex B2X Announcement: http://bit.ly/2zo3S57
◆ Goldman Sachs Prediction: http://cnb.cx/2zoAaPz
◆ Bitcoin Rich List: http://bit.ly/2vP8mmZ
◆ Bitcoin Search Metrics: http://for.tn/2zBX8DD
◆ What Happened: http://bit.ly/2hkhEkT & http://bit.ly/2zm6X8l
◆ 4Chan Raid: http://bit.ly/2j8Qxtk
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💬 I am not a financial adviser and this is not financial advice. I'm just a humble man with a great passion for all things block-chain, even tangle.
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