It's probably the easiest and best way to protect your investment.
I've been trying to find out what to do with my Bitcoin(s) these past days. When I first got into Bitcoin my idea was to just holdt it for years and when it finally hit $500,000USD (or something like that) buy a Ferrari F355 and a bigger house, and keep the rest for ever. Pretty stress free plan!
Then the Fork came along and made thing a bit more complicated. Not only that, but like most newbies private keys, different wallets, exchanges and all this was pretty greek. I came from traditional investing as a hobby. Regular stocks on regular centralized exchanges, bought with Fiat currency.
One day before the forkening I managed to set up a Electrum wallet and transfer some of my Bitcoin there. I didn't really think BCC could challenge BTC, so I didn't care about the fact that quite a lot of my Bitcoin investment was in a BTC-instrument called Bitcoin One Tracker on the Stockholm exchange. It is supposed to follow the price of Bitcoin, or as they announce; "The Bitcoin that is recognized as THE Bitcoin"
That statement being a little bit vague to say the least - I realized what I had to do to protect my investment.
It's pretty simple.
Make sure I own equal amounts of BTC and BCC
Being ready to risk 1/4-1/5 of my total Bitcoin holdings to BCC. If I own 10 Bitcoin, I would buy 10 BCC. The price I would have to pay for those 10 BCC equals the price of 2 BTC. So I basically sold 2 BTC and bought 10 BCC. (Price is volatile now, so it could be something like 1/4.5 or even less)
Now I'd own $40,000 worth of BTC and $8000 worth of BCC.
If BTC goes completely to Zero, chances are that BCC is recognized as Bitcoin, and will be worth about $5000 in today's market, and my 10 BCC would be worth $50,000 dollars. In other words - no loss.
If BCC goes completely to Zero, I would have lost $8000 dollars, which would be the price this hedge costs. But then BTC will skyrocket and that small loss is nothing to worry about.
If they both co-exist you are good too.
Buttom line: KEEP all coins because you have no clue what is going on and what is going to happen. Never try to trade or gamble with any of the coins. You probably have no clue which one is going to win, or if they will co-exist. Keep the same amount of all forked coins.
