BTC Fork on Aug 1st, will this impact local bitcoins?

I was going to go grab some today but saw on /r/bitcoin that any moving of btc is now at a standstill until this stupid fork happens.

Would it be worth just waiting until after the Fork, or is stuff going to get shitty, is anyone in the know on that?

Like, is localbitcoin going to have btc at one price and this bcc currency at a different price or anyone know the deal?


Comments


[9 Points] GardenofGandaIf:

The fork means that the current single blockchains will be splitting into two separate blockchains. If you had 1 BTC before the split you will have 1 BTC on each chain after the split. The price of each will simply be determined by the prices they trade at. One will likely go up, and the other will likely go down, but since you have 1 of each, it should roughly balance out.


[5 Points] skankhunt92:

Fuck BCC


[3 Points] None:

[deleted]


[3 Points] ForLol_Serious:

Know this is a noob question but what is a fork and how does it split the coins?


[1 Points] xanax_xombie:

I guess I am wondering if I should go grab some now before this odd split thing is supposed to happen, or wait until after to see what happens and how people are getting their btc.


[1 Points] None:

I can't wait. Gonna buy the shit outta some coin. Sick of this dn shit. Made more money playing with btc than drugs


[1 Points] xanax_xombie:

I bought some extra beyond padding for price fluctuation just to see what happens, I would love to see my extra $100 or so turn into $1000 or so if BCC sucks a BBC and BTC comes out on top :)


[1 Points] BigOlBarb087:

Supposively it's all fud just so investors can buy low and sell when it gets to 3000+


[1 Points] taimapanda:

Just in case combined value of BCH and BTC drops or if BTC drops massively, I would suggest not buying until after the fork. Stability won't take too long to return but it's certainly a risk to buy any sizable amount of BTC right now. Depends if you're interested in BCH and have money to burn, if so then feel free to buy some before the fork.


[-2 Points] BananasAndBlowMe:

From my understanding the BTC split will be like a standard stock split.

From Investopedia

Stock Split

A corporate action in which a company divides its existing shares into multiple shares. Although the number of shares outstanding increases by a specific multiple, the total dollar value of the shares remains the same compared to pre-split amounts, because the split did not add any real value. The most common split ratios are 2-for-1 or 3-for-1, which means that the stockholder will have two or three shares for every share held earlier. Also known as a "forward stock split."