Please don't scare new people away from Bitcoin with bullshit FUD. Your theory won't happen, because 50% of the miners moving to BCC will not happen, there is often an altcoin more profitable to mine than Bitcoin, the real professional and big miners mine only BTC with a long term view.
Maybe a small part could move over, and not all at the same time. The effect on the difficulty will be tiny because BTC has a lot more hashing power behind than BCC. If the hashing power on BCC doubles, this will cost BTC only a small %. Then the difficulty on BCC goes up and it is less profitable again.
BTC is the only cryptocurrency that enjoys the first mover advantage, network effect and the biggest infrastructure. Beside that most innovation takes place here, Lightning network, RSK and more 2nd layers will come soon! This will transform BTC from a payment method to the internet of money. This will bring a lot of value to the network and miners will follow the value.
BCC could be a faster and cheaper payment method in the short term (BTC will overtake because 2nd layer solutions will scale exponentially), but Litecoin is a better altcoin for this purpose. The only purpose of BCC is politics and the reason why it is more profitable is because it is pumped by some rich big blockers.
Even if I think BCC is useless, I think it is best to HODL it for now if you got it during the fork, but if you are new to bitcoin the advise should be: BUY BTC and not BCC
well, i am a bitcoin holder but did not enjoy this video at all. Dont really understand why ppl have to scare each other all the time. I think bitcoin is the very first coin in the crypto business, once it really goes to zero all other currencies will fall down as well. It would cause the dead of blockchain technology. I do not really think it will ever come otherwise all of our posts here will be lost forever :D
This post has been ranked within the top 80 most undervalued posts in the second half of Aug 19. We estimate that this post is undervalued by $8.91 as compared to a scenario in which every voter had an equal say.
Your video does not bring anything valuable on the table.
First: Cloud mining is not worth your money to invest on those.
Second: Segwit is activated Monday on Bitcoin that will process more transactions and decrease the fees, and then Lightning network will follow.
Third: Bitcoin has a great ecosystem and has the network effect.
Last: Bitcoin cash is pumped and this is a FUD before Segwit activation.
Future will be a under $5billion market cap for BTC by 2020. Wait and see. I dare you to put your money into BTC and HODL for 2 years. Dash, NEM, Monaco, ETH, NEO, Sia, Storj, Factom, Maidsafe, ong, Maidsafe.... those are the future. BTC belongs in a museum.
I tripled my life's savings on Aug 1st thanks to all you idiots dumping BCH and again caught the recent bull run even holding some as the price went over $1000 and sold little later.
Are you kidding me! who the hell would want to hold that outdated steam engine. Switch to Dash or if you feel adventurous, try Monaco. Before all that learn some fundamentals about the coins you hold. Study, study, study. That's how I made my money.
I know that you are not saying that it happens for sure.
However, you have presented rational and well-thought-out arguments.
I am inclined to listen to your voice of reason because you seem to put together a coherent picture of the situation presenting the facts in an unbiased fashion (to the extent that you are aware of the facts). Such commentary is very valuable.
Besides, I only risk capital that I am prepared to lose. Rest assured that I will not lay in financial ruin if you turn out to be wrong, however, I feel quite comfortable with a 50/50 split position at the moment
Let me share one more piece of the puzzle with you.
Check this out here:
It regards some insights into Bitcoin's future, perhaps you'll learn something new here as well.
Just pointing out that I never base my decision on one person's opinion...
This Is Definetly Impossible Bitcoin Won't Go Down To Zero Because Of Bitcoin Cash, It Simply Won't Dethrone, Not Only Because 8MB Don't Solve The Scaling Problem For Good (It Solves It For Now) But The Bitcoin Blockchain Is A Few Blocks Longer Than Bitcoin Cash Blockchain Making It Impossible For Bitcoin Cash To Become The Main Chain :)
Cause it won't be profitable. They can't adjust the difficulty for 2016 blocks. If those never get mined cause a lot of miners are leaveing, then the difficulty will not be adjusted for a very long time so it makes no sense to mine Bitcoin at all anymore. That is what I am saying in the video. Atleast I tried.
Yes but it is possible that you will run your mining operation alone. And as far as you do not mine 2016 blocks for a difficulty adjustment you are not getting much at all.
⭕️Usain Bolt has won 9 gold medals in last 3 Olympics and he has run less than 2 mins on the track. That's economy of effort.
⭕️Usain Bolt ran for less than 115 secs in total in his 3 Olympics and made $119 million dollars! That's more than $1 million for each second he ran!
But for those 2 mins he trained for 20+ years ! That's investment.
As long as you are investing with your spare cash, your worries should go away. I'm a long term holder of BTC and have no desire to trade it frequently, hence, I don't get bogged down with its daily price fluctuation. At this moment, there are only less than 1% (probably much less than 0.5%) of the global populace owning or trading BTC and other cryptos so we are a long way from seeing a bubble forming. Just my two cents.
Segwit and Lightning network will destroy bitcoin and will make it more insecure and more problematic for double spending! Also Bitcoin have been hijacked by blockstream! Bitcoin Cash is still in harmony with the original protocol and is the way to go for the future!
BCH wont vanish but it also wont overtake BTC (will have its ups and downs based on mining profit but won't go above BTC at any point)... Segwit 2x is almost 100% not going to happen (no Nov hard fork) due to segwit being patented by blocksteam (a company which is FOR the current segwit chain and is AGAINST the segwit2x chain).
That being said all this crap will make BTC and BCH prices fluctuate a fair bit over the next few months, but if you had to bet one 1 horse in this race (BTC vs BCH vs XBT) in my strong opinion you would defiantly want to be betting on BTC for the win... just my 2 satoshi's!
Hey richhore. Don't do anything stupid please. This is really just "theory" / a "possibility". This all could happen but is not guaranteed at all. Bitcoin is the mothership and I still have more trust in the main bitcoin. You can always check the difficulty/profitability chart over here: fork.lol
Bitcoin Cash is a pump and dump scheme, basically an organization somewhere in korea mined a bunch of bcc and then drove up the price with trading bots. Once they have sold off all their bcc the price is going to fall and bitcoin cash will be back at square one.
Please don't scare new people away from Bitcoin with bullshit FUD. Your theory won't happen, because 50% of the miners moving to BCC will not happen, there is often an altcoin more profitable to mine than Bitcoin, the real professional and big miners mine only BTC with a long term view.
Maybe a small part could move over, and not all at the same time. The effect on the difficulty will be tiny because BTC has a lot more hashing power behind than BCC. If the hashing power on BCC doubles, this will cost BTC only a small %. Then the difficulty on BCC goes up and it is less profitable again.
BTC is the only cryptocurrency that enjoys the first mover advantage, network effect and the biggest infrastructure. Beside that most innovation takes place here, Lightning network, RSK and more 2nd layers will come soon! This will transform BTC from a payment method to the internet of money. This will bring a lot of value to the network and miners will follow the value.
BCC could be a faster and cheaper payment method in the short term (BTC will overtake because 2nd layer solutions will scale exponentially), but Litecoin is a better altcoin for this purpose. The only purpose of BCC is politics and the reason why it is more profitable is because it is pumped by some rich big blockers.
Even if I think BCC is useless, I think it is best to HODL it for now if you got it during the fork, but if you are new to bitcoin the advise should be: BUY BTC and not BCC
Here my post about this subject before the fork:
https://steemit.com/bitcoin/@michiel/six-reasons-why-i-will-keep-my-bcc-after-the-fork-on-the-first-of-august-even-when-i-am-heavily-against-it
Thanks for the sanity
@foodnature was just looking for a good sound bite if you see what he says is highly unlikely to happen, possible but almost 0% of possibility.
i totally agree with you
good statement. UPvote you!
Nice
Noted
follow me and upvote my post i will follow u back and upvote your post.
Very informative and interesting video you made a lot of sense, thank you
Thank you very much. Feel free to spread it :P
I will resteem right now, cheers mate
Thanks.
well, i am a bitcoin holder but did not enjoy this video at all. Dont really understand why ppl have to scare each other all the time. I think bitcoin is the very first coin in the crypto business, once it really goes to zero all other currencies will fall down as well. It would cause the dead of blockchain technology. I do not really think it will ever come otherwise all of our posts here will be lost forever :D
The difficulty of Bitcoin Cash adjusted and BTC mining is more profitable again. We survived that one :)
Thanks for the info. I'm working on learning about bitcoin. My mind isn't that investment savy or financially tuned! I'll catch on at some point!
I wish I was 20 years younger !- I find it all a bit confusing, to be honest!the synapses are slowing down, I think
I wish I was 20 years younger as well, maybe 30 years for me! ;)
You are welcome.
:) have a good day!
Same 2 u.
thx :)))
Today is the day Sunny. I attempt to win one of your awesome giveaway rewards. What time is the main show kicking off?
I am not sure yet. I was thinking about a livestream in a couple hours but not sure. Video or livestream in about 4-5h maybe. Good luck.
I believe I have your channel on YouTube set for my notifications so if you go live my mobile will see it.
This post has been ranked within the top 80 most undervalued posts in the second half of Aug 19. We estimate that this post is undervalued by $8.91 as compared to a scenario in which every voter had an equal say.
See the full rankings and details in The Daily Tribune: Aug 19 - Part II. You can also read about some of our methodology, data analysis and technical details in our initial post.
If you are the author and would prefer not to receive these comments, simply reply "Stop" to this comment.
Your video does not bring anything valuable on the table.
First: Cloud mining is not worth your money to invest on those.
Second: Segwit is activated Monday on Bitcoin that will process more transactions and decrease the fees, and then Lightning network will follow.
Third: Bitcoin has a great ecosystem and has the network effect.
Last: Bitcoin cash is pumped and this is a FUD before Segwit activation.
Good points! I agree with most of your arguments. I am just saying that this is a possible outcome. We both can't tell the future for sure.
The future will tell the outcome ;)
Future will be a under $5billion market cap for BTC by 2020. Wait and see. I dare you to put your money into BTC and HODL for 2 years. Dash, NEM, Monaco, ETH, NEO, Sia, Storj, Factom, Maidsafe, ong, Maidsafe.... those are the future. BTC belongs in a museum.
I tripled my life's savings on Aug 1st thanks to all you idiots dumping BCH and again caught the recent bull run even holding some as the price went over $1000 and sold little later.
Yes.
very interesting in deed. I'm a bitcoin holder, and this is definitely something to think about and consider, thanks for sharing
Are you kidding me! who the hell would want to hold that outdated steam engine. Switch to Dash or if you feel adventurous, try Monaco. Before all that learn some fundamentals about the coins you hold. Study, study, study. That's how I made my money.
You are welcome.
A day saver you are man..
Lov ya!
Upvoted :)
You are welcome. Thanks.
Hi Sunndydecree,
that is some very useful information.
I have just shifted 50% of my Bitcoins to BitcoinCash :D
Will follow you since you seem to present great information based on the impression I have gotten from this video.
Keep up the good work mate :)
Thanks a lot. But I am not saying that this is gonna happen for sure. Welcome to the community.
I know that you are not saying that it happens for sure.
However, you have presented rational and well-thought-out arguments.
I am inclined to listen to your voice of reason because you seem to put together a coherent picture of the situation presenting the facts in an unbiased fashion (to the extent that you are aware of the facts). Such commentary is very valuable.
Besides, I only risk capital that I am prepared to lose. Rest assured that I will not lay in financial ruin if you turn out to be wrong, however, I feel quite comfortable with a 50/50 split position at the moment
Thank you.
Let me share one more piece of the puzzle with you.
Check this out here:
It regards some insights into Bitcoin's future, perhaps you'll learn something new here as well.
Just pointing out that I never base my decision on one person's opinion...
Excellent video! Couldn't have done better myself. Upvoted and Followed.
Thank you very much Sir! Feel free to share ;) Thanks again.
you are good.thanks for the information you have said it all,diversification is the key.
Thank you very much.
i just subscribe to your youtube channel
Thanks and welcome.
I really do hope Genesis allows for BCC mining.
If it looks stable and profitable I am very convinced about it.
Thanks for the info...
You are welcome.
Good Info. Sold all my BCH immediately after the split! Want to jump from a bridge now and I don´t know if I should buy now after the 200% pump!?!
Take it easy. Never regret what happend in the past. You can't change it anyway so it is wasted energy.
This Is Definetly Impossible Bitcoin Won't Go Down To Zero Because Of Bitcoin Cash, It Simply Won't Dethrone, Not Only Because 8MB Don't Solve The Scaling Problem For Good (It Solves It For Now) But The Bitcoin Blockchain Is A Few Blocks Longer Than Bitcoin Cash Blockchain Making It Impossible For Bitcoin Cash To Become The Main Chain :)
Not sure if it is that simple. Thanks for your comment anyway.
in the future, we will buy a toffee through Bit Coin!
Unlikely. If everyone would do that we would have even more stacked up transactions :) Bitcoin is not very fast and there is no longterm solution yet.
BCH survived with 2% of miners, so why wouldn't BTC survive with 50 or less lol, you are not making any sense
You do cloud mining too? I read you like an open book...done so done
Cause it won't be profitable. They can't adjust the difficulty for 2016 blocks. If those never get mined cause a lot of miners are leaveing, then the difficulty will not be adjusted for a very long time so it makes no sense to mine Bitcoin at all anymore. That is what I am saying in the video. Atleast I tried.
Less miners means less competition, so any of left miners can get reward more often, you have to take that into account aswell
Inverse correlation, if 1000 people mine BCH, then every single one of them can get some 1/1000 if 10 000 do chance goes down to 1/10 000
Heck if so many stop mining BTC, I will start mining it
Yes but it is possible that you will run your mining operation alone. And as far as you do not mine 2016 blocks for a difficulty adjustment you are not getting much at all.
If 2016 blocks can't be reached anymore, I guess it is still possible to hard fork to not leave all the owners stranded? Just a thought.
We already had a hardfork on 1st of Aug and the next one is planned in November.
📌What is investment?
⭕️Usain Bolt has won 9 gold medals in last 3 Olympics and he has run less than 2 mins on the track. That's economy of effort.
⭕️Usain Bolt ran for less than 115 secs in total in his 3 Olympics and made $119 million dollars! That's more than $1 million for each second he ran!
But for those 2 mins he trained for 20+ years ! That's investment.
💢Think long term. Patience pays ❗️ THINK BITCOIN
So lets say bitcoin goes to $0
The investor with 100 million in there.. he now has nothing?
Won't happen.. and it will shatter investor confidence if it did.
Congratulations @foodnature!
Your post was mentioned in the hit parade in the following category:
So what does that mean? :)
It means your post performed well on the platform.
As long as you are investing with your spare cash, your worries should go away. I'm a long term holder of BTC and have no desire to trade it frequently, hence, I don't get bogged down with its daily price fluctuation. At this moment, there are only less than 1% (probably much less than 0.5%) of the global populace owning or trading BTC and other cryptos so we are a long way from seeing a bubble forming. Just my two cents.
True.
hello....I upvoted & followed you....please upvote me & follow me on @farhanasayed cheers! :)
holder*
Segwit and Lightning network will destroy bitcoin and will make it more insecure and more problematic for double spending! Also Bitcoin have been hijacked by blockstream! Bitcoin Cash is still in harmony with the original protocol and is the way to go for the future!
BCH wont vanish but it also wont overtake BTC (will have its ups and downs based on mining profit but won't go above BTC at any point)... Segwit 2x is almost 100% not going to happen (no Nov hard fork) due to segwit being patented by blocksteam (a company which is FOR the current segwit chain and is AGAINST the segwit2x chain).
That being said all this crap will make BTC and BCH prices fluctuate a fair bit over the next few months, but if you had to bet one 1 horse in this race (BTC vs BCH vs XBT) in my strong opinion you would defiantly want to be betting on BTC for the win... just my 2 satoshi's!
What are the prospects of IOTA? Everyone seems to be talking about it. It seems to have quite an impressive set of functionalities.
The technology behind it is great, you don't need big miners. Transactions are getting verified from nodes near to you. It is super fast.
Help me plzz
I definitely see this happening! I do regret not buying BTH @ $200, but its not too late :)
Hey richhore. Don't do anything stupid please. This is really just "theory" / a "possibility". This all could happen but is not guaranteed at all. Bitcoin is the mothership and I still have more trust in the main bitcoin. You can always check the difficulty/profitability chart over here: fork.lol
Keep it up...
Will do.
Great post as allways! I upvoted and im following you!
If you want you can participate in my contests and win steem dollars.
My latest contest here: https://steemit.com/contest/@nunojesus/5mj8ch-contest-name-that-country-win-sbd
Bitcoin Cash is a pump and dump scheme, basically an organization somewhere in korea mined a bunch of bcc and then drove up the price with trading bots. Once they have sold off all their bcc the price is going to fall and bitcoin cash will be back at square one.
follow me and upvote my post i will follow u back and upvote your post.