DAO Hub For Investors #11 – 3 Potential Outcomes Of The Ethereum Hard Fork

Tai Zen: What’s up, guys? This is Tai Zen. I’m broadcasting from Atlanta again. You guys keep hearing me talk about the traffic in Atlanta is the worst in America. I think it’s worse than LA. What street we on did driver?

Bro: We’re on Linux road.

Tai Zen: So I got my crazy ass Indian driver here. And as you guys can see he’s breaking all the lanes here about to run into that white truck. Look there is a red light Bro. Can you keep me alive long enough to make this broadcast? So anyways guys in this video what I want to talk about what’s happening, give you guys an update on some of things I’m doing with the DAO hub attack.

So the Soft Fork has failed. I’m sure you guys know by now and they have a proposed Hard Fork coming up that needs to be done before the 15th of July. Making this video on July 7 so that gives us about 8 days. Really it should be done before then. So it’s really about 7 days.

Now they don’t do this Hard Fork then what’s going to happen is the attacker is going to be able to steal those $60,000,000 worth of Ethers and be able to cash it out because now he cannot cash it out until the holding, that waiting period is over.

So just be aware of that, guys. So what’s going to happen now is that in, you know, regardless of its Hard Fork, Soft Fork any of that stuff, the main thing that, you know, this is a cryptocurrency investing channel. So the main questions that you guys have I want to know is do I hold or do I fold or do I sell it or do I hold on to it or what.

So the question that you have to ask yourself is this. Here are some important questions that you guys have to consider is do you expect the price of the DAO to go up or do you expect the price of the DAO to go down after the Hard Fork.

So lets us play out a few scenarios here and I’ll play out a few imaginary scenarios with you guys and I want you guys to consider it with me.

Let’s just assume that the Hard Fork is extremely successful. Everything goes smoothly and nothing goes wrong. And everybody gets their refund back. Everybody gets the Ethers back and the DAO attacker does not get away with the $60,000,000 worth of Ethers.

In that perfect scenario, let’s imagine what the investors will do. More than likely, the people who have been buying who have been investing into the DAO because their money got trapped in there and got stuck in there and they’ve been scared to death and frustrated and angry and upset that, you know, the hack happened and the attack happened. And the money they thought that was going to become 100% profit 1,000-2,000% profit, it actually came out to be 0.

And they’re lucky to even get their money back. So because of that my belief is that the natural instinct of these investors are going to cash out they’re going to take the items that they got back and they are going to sell it off and convert it to Bitcoin because Bitcoin is on the move, on the rise now. So it’s just overall smarter to just have the money in the Ethers, in the Bitcoin anyway. So that’s a perfect world scenario.

Now let’s just say that they don’t cash out to Bitcoins, they just keep it in Ethers in the form of Ethers. That’s also another possibility. So in a perfect world where everything goes right, the investors get their Ethers back and they get to, then the investors get their money back and they get to invest their money into the Bitcoin or they just keep it in Ethers and just hold it for the long term because they still believe that the Ethereum network is still going to grow and become more valuable. So that’s the best case scenario.

The worst case scenario is that the Hard Fork fails. And there’s a glitch something happens and people do not get a refund on their Ethers and they lose out on it. That’s going to crash the Ethereum network. And if that’s the case then if you’re holding Ethers then you need to, you know, probably unload some of it or do it before it even happens. So that’s what the belief is there and you’re not going to get any Ethers back and you’re going to get nothing back on the DAO hub and you just lost all that money that you put in. So that’s a risk that you took when you first got into it.

Now the second scenario here that’s going to happen is kind of in between the best case scenario and the worst case scenario. In the middle road is that they do Hard Fork and people get their refund back. And there might be some glitches but people get the majority of their Ethers back. There’s not a guarantee that when they refund you that they’re going to get 100% refund because some technical issues I don’t know exactly. I know that it’s not going to be a guarantee that you’ll get 100% back even if they refund. The Hard Fork is accessible. You get most of it but you won’t get 100% back.

I want to give you guys an update real quick, you guys have noticed that the traffic here on 400. We’re going north and 400 is moving fairly rapidly. That’s because…what time is it Indian driver?

Bro: 9:36

Tai Zen: So usually the traffic is extremely heavy before like 9:00. So we’re kind of lucky that we got away with to hit North and outside away from Atlanta, downtown Atlanta without much traffic. So this got to be one of the few videos that you guys see where traffic is actually moving at 70 miles an hour, on 90. We’re going 90 Indian drivers 92

Bro: 92.

Tai Zen: We’re going 92?

Bro: Yeah

Tai Zen: I got to get me a new Indian driver, man. This is not a safe, man. So anyways guys so that’s those are the scenarios guys I want you guys to consider those scenarios. What I personally did was I got rid of all my Ethers and cast them all out for Bitcoins. I’m loading up like 4000 over 4000% on my Ethers. So because of that, you know, I’m very happy with it. So I’m going to cash out while I can. At one point, I was trying to get over 5000 profit. But, you know, with the situation with the DAO attack and everything, I said I’d be happy with the 4000 some percent profit that I got out of the Ethers. And as far as the DAO goes, when I get the Ethers back from the DAO, depend upon any new ICO coming out that’s worthwhile. If not then the Ethers I get back. I’m just going to hold on to it for the long term because I don’t see Ethereum doing anything that’s going to cause the price to increase in the next 6 to 12 months not for the rest of 2016. So I’m just gonna hold on to it for the long term and then. So that’s those are the points that I wanted to share with you guys and I hope that you guys are going to use it to make the decision that you guys need to make for your Portfolio.

So thanks for watching this video guys. Give me a thumb up if you guys like it. Give me a thumb down if you guys don’t like it. Also if you don’t like the way that my Indian drivers driving, you know, give me a thumbs down and leave it in the comments too.

Thanks for watching this video guys and I’ll catch you guys in another video. If you got some friends families or colleagues that want to learn how to invest in cryptocurrencies. Make sure you thump subscribe to our channel, it’s the fastest growing and most popular cryptocurrency investing channel on the market right now. And I’ll see you guys in a future video.

 

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