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The time to buy is either before or after Aug 1. Unfortunately no one knows which it is.

My personal recommendation would be to have your bitcoins held by a private key you control on Aug 1st. I'd expect tx fees to be pretty bad leading up to Aug 1st as people move BTC out of exchanges.

why Aug 1?

There might be a bitcoin split:

https://bitcoinmagazine.com/articles/bitcoin-beginners-guide...

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