BCC/BCH guys are not stoping.
Yesterday we could hear about whales like Roger Ver thinking of flipping their BTC for BCC, today we see this craze.
Korea is Driving Prices
Of course some people just dump it and are happy.
My plan ?
I sold some but mainly im holding what i have, no idea what will happen on this coin. There are 2 strong forces here and time will tell how it works out. I trade this on Bitfinex and HitBTC for now. Sometimes theres arbitrage options with Bittrex but keep in mind - its currently mining really slow, so hard to take advantage.
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If bitcoin cash solves the transaction problem of bitcoin, I bet bitcoin cash will beat bitcoin in soon future.
The problem is bitcoin cash DOES NOT solves the transaction problem of bitcoin.
I got lucky to buy some BCH just before it boomed this week.
It is still slow to confirm. It took an hour to confirm
Plus not everyone is supporting BCH
If you want a coin that solves transaction problem of bitcoin, try litecoin or ETH
One hour to confirm? Mine are getting through in a few seconds. OK that's not the same as confirmed, but unless, there is a scammer in deal, its a done deal within seconds.
I'll check when I buy BCH again.
What about the cost per transaction?
I have not compared yet. They are saying BCH has lower fees but that changes every day
And Litecoin or ETH will still have cheaper fees
Must have been right before the difficulty adjustment. It's must faster now.
bro, its about speculation and BCH cannot harm BTC that easily.
I am sure BCH will go down again once the 8MB block mining hype is over because nobody is concerned about the technical issues. Crypto is all about hype and BTC will always be a winner.
You are so wrong. BCH is not hype, it's a growing snowball of support for people who want REAL open-source crypto-currencies -- not some chain molded to the will of a company , ahem BLOCKSTREAM
Amen
What makes BCH more open-source than BTC? I only see fanboys defending BCH probably because they are invested in it.
It would be good to have a disclaimer under each opinion of how much of each the author owns.
It doesn't have to harm BTC to take over it.
As someone who wants to use cryptocurrency for trade, I can't use bitcoin at its current form because I don't want to pay tens of dollars to send a few dollars. Transaction fees are unbelievable high. If you mean BTC will be always winner as its current form, I have bad news for you.
I've said it many times before - jokingly: My favorite conspiracy theory is that the bitcoin schism is manipulated by some persons or agency with strong vested interests in fiat. They manipulate both sides of the debate, a bit the same way as Palpatine and Lord Dooku in the Star Wars triology managed to start the Clone Wars through evil manipulation.
Bitcoin Cash fits perfectly in. The ultimate goal for the Bitcoin Cash supporters is to kill Bitcoin and become the new Bitcoin. The hope is that a big amount of miners, occupied only with their short-term profit, will defect the "segwit coin" and start mining on Bitcoin Cash now as it's temporarily more profitable right now. If a sufficient amount of miners would do that, it would be very bad for bitcoin. The Bitcoin Cash supporters hope Bitcoin Cash will become the new Bitcoin. I think it would anyway be years before the Bitcoin Cash market price would reach the 4000 USD mark, all miners would lose in such a scenario - as would crypto, in general.
r/btc on reddit would be the natural place to rally support for SegWit2X - instead it is totally consumed by Bitcoin Cash fanatics, many of them hoping SegWit2X will be a great failure because they believe it will be easier for Bitcoin Cash to compete with Bitcoin Core than SegWit2X - others hoping the 2X hardfork will end up as a total disaster, as that would benefit Bitcoin Cash.
I strongly believe SegWit2X is the only true path forward. We need one Bitcoin. There are only three things that makes Bitcoin outstanding in the jungle of cryptocurrencies; the network effect, the brand name and (arguably) the strong security offered by the extreme amounts of CPU-power locked down in the mining hardware. Split the coin, and none of those benefits remain.
2x is a shit compromise for everyone except the creators of SegWit, which itself is simply a bad upgrade. It alters far too much, and its promises of "backwards compatibility" fall somewhere between stretching the truth and outright lies. If it's a scaling upgrade, it's unnecessary, as the same can be achieved with bigger blocks without the excess complexity. If it's just a malleability fix, then why does it leave virtually no part of the codebase untouched? People at /r/btc have been saying this about 2x since the day the NYA was signed, so it shouldn't come as a surprise that given the chance for Bitcoin to have onchain scaling without SW, they are going to be more supportive of that option. I agree that a malleability fix is needed, but it can and should be fixed with a hard fork, in a fraction of the lines of code.
The only reason for designing an over-engineered soft fork in favor of a hard fork is if there is an ulterior motive to prevent any and all hardforks - the heavily pushed narratives that hard forks are simply too dangerous to attempt lines up with this. Given that essentially none of Core's arguments against increasing the blocksize can stand on their own merits (hence the need for censorship over at /r/Bitcoin), it is clear that there is an unspoken agenda guiding their decision making process. The Core Devs have abused their position of power by getting involved in politics; it would be in the interest of all stakeholders if the authority they exercise so readily became a thing of the past.
In case it wasn't already obvious, I am in the camp that hopes to see Bitcoin Cash become Bitcoin by becoming the chain with the most cumulative PoW while the legacy chain fades into oblivion. There is no functional difference between BitcoinCash with FlexTrans and BitcoinCore with SegWit, other than a higher throughput for on-chain transactions. All the fancy new tech that Segwit is allegedly "necessary" for require a malleability fix, not SegWit specifically, so we'll still get LN, atomic swaps, and the rest.
"Split the coin, and none of those benefits remain."
I agree 100% on that.
Tobixen, you are mostly correct but you don't seem to include (or know) the full story.
Are you aware that /r/btc was created to get away from the blatant censorship in /r/bitcoin?
The people who want to get away from the censorship are the same people who made BitcoinCash a reality, duh!
That's of course why /r/btc is full of BitcoinCash heads, as it well should be!
Everyone needs to learn the real, full story -- and stop supporting Segwit Crap which has no future and is not good for the nature of Bitcoin. Segwit is not the proper way to scale, nor is it the way that it was intended.
Allegedly, yes - but if my Palatine/Dooku-conspiracy theory is true, then no, that's not the real reason :-)
What is bad about Segwit? I still haven't found a decent argumentation that is not biased due to the invested interest in either BTC or BCC.
it wouldnt be bad if you have been a prophet
Problem is everybody who had bitcoin during hardfork has also bitcoincash and therefore it is in many hands... An bitcoin is about to burst the bubble so people will sell and bcc will rise
Don't be a fool. No one can kill BTC trading volumes. BTC trading volumes will always go up in the long run.
BCH just did and honestly I do believe IOTA will detrone Bitcoin soon.
the thing is that as far as I know there is nothing we can buy with BCC. Correct me if I am wrong but if I want to use BCC in the real world I still need to convert to BTC.
So how can BCC prosper to replace BTC
if it needs BTC to be of any use in the realworld?
Hi, you can buy iMedDo Health Supplements with Bitcoin Cash. (www.imeddo.com) even though is not one of the currencies supported by the coin payments.net button on the website you can use our Bitcoin Cash address 18XstiSVL1kvi5i5rBFx88ybDHh31AyL7L but please email first healthwarrior@imeddo.com and include your shipping address to use when we verify the payment.
1NSQSxRcGMsEYJGjtEZudib4A9beNMuCvL
Lol so random wtf
Looks like a BitCoin address ;)
I wouldn't hold my breath waiting for it.
What can be learned by this the most, is the pig-headed comments by these people who "dump" and advertise it.
Never trust people who do that -- EVER.
They do that only to:
OR
These people are not leaders in the crypto-space. They are disgusting.
They should learn to have some CRYPTORESPECT
Disclaimer, I do not own hardly any BTC or BCH/BCC simply because I can't afford to.. but if I wanted to park my money any one of those coins, I would not want these 2 people you quoted influencing my decision.
Instead of "Pump-and-Dump"
..these people are "Dump-and-Advertise" -- it's just as bad.
100% agree!
I wonder which coun benefits out of this confusion?
Litecoin?
Wait till all the broke "gifted investors" come back crying how much they've lost on pump&dump BCH and how much money have been stolen from you because you gave your BTC private keys to LUNATIC Roger Ver.
Bitcoin Cash = lunatic ROGER VER.
https://steemit.com/bitcoin/@shuwix/bitcoin-cash-bch-an-ultimate-fraud
Almost all "suggested wallets" are just fast "tweaked" clone of regular BTC wallets ...... hosted on websites Roger Ver is behind .... hosted on anonymouse hosting and anonymous domain registrars (all with BTC payments), with WHOIS GUARD (another layer of hiding true identity of owner)
But unlike all his failed attempts to parasite on BTC (Bitcoin Classic, Bitcoin XT, Bitcoin unlimited), now he hides his involvement but wants your private keys.
Almost all BCH trade volume is ROGER VER trading with himself to pump the prices before he dumps everything.
That is the ONLY PURPOSE of Bitcoin Cash.
Let's see how it unfolds. One Bitcoin is would be the best for the majority.
Do you think Bitcoin will go back up when BitcoinCash settles down?
I think Bitcoin Cash is intentionally trying to destroy Bitcoin, the problem is that this is damaging even the altcoins. Just look at Coin Market Cap today: https://coinmarketcap.com . Bitcoin Cash up to 50%, the others down! No way Bitcoin Cash can be useful to the market.
its not like that. ALTs are making their place slowly. They are not going to be down all the time. Its a hype game and there are many sleeping ALTs that we see skyrocketing. NEO was one of them before a week ago and now its going down. Also day traders jumps from crpto to crypto and they run after the one going up.
Bitcoin Cash is trying to destroy Bitcoin, but only so that it can take its place and become Bitcoin. I wouldn't call normal market fluctuations "damaging to altcoins," alts do the same thing when Bitcoin or Ether goes rallies hard as people sell them in order to ride the rally upwards.
BCH isn't trying to destroy BTC.
It's just another Roger Ver scam. This time he also wants your private keys.
https://steemit.com/bitcoin/@shuwix/bitcoin-cash-bch-an-ultimate-fraud
Should have dumped all mine at 0.3 the first day but happy to cash out at today's price. I look at it this way... free money which will convert to BTC and give me 10x and some in the long term.
I can't think of any compelling long term story for BCH that has it even close to tracking BTC. Just a short term distraction IMO.
You may be right that it's a short term distraction, however if you're wrong you sold your Bitcoins for 30 cents on the dollar. Did you stop to think about it in those terms when you made the decision to sell?
I cant wrap my head around why BCC is currently pumping so hard. I guess the belief from the believers is strong....
Could it be because it is Bitcoin as described by Satoshi in the whitepaper?
I had just sold my BCH :(
always hold and live a life where you don't need any of the money you put into crypto.
Right now crypto is such a speculative market that it will most probably burst in more than one occasion. So you have as much as you would have in a casino, you only have the money you get when you cash out.
You did, so you are fine.
roger ver is famous for price manipulation, don't listen him!
I truly belive in the future of BTC, in my opinion the BCH hype is caused by new investors that hope to see it rise to 4000 $. Scared money.
However as you point out , we do not know what the future will bring. It might gain momentum and end up doing the Cashining.
Thank you for a good post.
Agree with you. Furthermore, Bitcoin Cash doesn't have the same advantage as Bitcoin has. Nor does it have advantages of other major altcoins. It lacks first mover advantage and technological improvements. BCH is getting hyped for no good reason. Further details in my blog if interested: https://steemit.com/bitcoin/@attalis/bitcoin-cash-and
BCH is not hype. Bitcoin has been hijacked. BitcoinCash is the people's stand.
It might be but unfortunately you can't do anything with it but convert to BTC or some other alt coin on the exchanges that trade it.....
we'll see what nov. 1 brings
If the market decides BCH is Bitcoin, then a whole bunch of people are gonna have to work overtime to change their infrastructure over to it. It wouldn't have come to this if certain people hadn't deliberately gone to great lengths to prevent any and all debate on which of the proposed solutions for scaling and malleability are best based on their technical merits and nothing else.
you know what they say @ashaman It is the winners that write the history books.
History is written by the victors, is how I would put it.
It is not the new investors behind the rise of BCC. It is the oldtimer Bitcoin guys like Roger Ver who do not believe in the future of SegWit. They are shifting their assets across to what they view as the legitimate chain.
Interesting stuff going on with Bitcoin Cash. Was kinda expecting something like this when it become more profitable to mine bitcoin cash. But I still think Bitcoin will have more support for some time at least. But nobody can predict the outcome in the future :)
Great summary!
And some of us still don't know how to redeem them... :P
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Iota will replace bitcoin very soon :
(the guys don't trust their own network, you get snapshots from one masternode at the moment)
That's just the beginning... The bigger the tangle get, the safer... Bitcoin also started with a few chosen trusted miners...
Hahaha .....
Iota is intended for the Internet of Things and is a completely different thing than BTC/BCC. So what's the point of promoting it as an alt-coin?
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Do you think bcc will hit 0.2 btc ?
That depends on the btc price... it will reach 5 dollars before january I am very optimistic about that...
The only government that can freeze my bitcoin is me.
For that I praise 'me'.
No, your bitcoins are efficiently frozen if all miners leave the network - and that's the hope of the most fanatic Bitcoin Cash supporters, they hope all miners will defect to Bitcoin Cash.
I'm a SegWit2X-believer. I hope that in the November split, all the fanatics still sticking to the Bitcoin Core software will experience that their bitcoins are frozen. The fix is simple though, just to upgrade the software.
You mean you or me.
I can freeze mine and you can freeze yours...that is the liberty we all deserve
I just bought my first Bitcoin Cash this evening after reading your post!
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Good Job
I'll hold both and let time take care of the rest.
Even Ethereum is living its last days of glory.
Its all about luck guys . News are just for motivation. But in real nobody knows what will exactly happen in crypto market.
I really believe in their structure and I think we should give BCH more time. I am sure sooner or later it will surprise us the positive way.
See my analysis The Bitcoin crash is imminent. Where to find safety?.
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yes @kingscrown i have read an article after the 1st august said that the original holders(miners) of btc will not follow the sigwit and they will fight and mine for bcc which will cause an instability in the markets ..and now we can see the result ...thank you for your post bruh!
I am an original holder and miner of BTC. I am not a whale like Roger Ver, more of a dolphin, but I personally support Segwit or Segwit2X, I am fine with either. I have been sitting on my BCH since the fork, but will be dumping all of it very soon due to this insider trading pump scheme. 8MB blocks with no Segwit is not something I want to be involved in. The blockchain size will grow too large, too fast, and they still have the ASICBOOST exploit on their chain.
@conspiracy-guy makes some very valid points. I mean come on, who are we fooling here?
Even Stevie Wonder can see that this pump is complete fuk-ery.
Hi - can you please explain what the ASICBOOST exploit is? Thanks so much!
Amen!
Especially when the market cap of BCH is from 10 billion new dollars and hovering at 15 billion while the BTC market cap went down by 4 billion hovering at about 66 billion. It look just like bch is a pump that has no other clear future other than to be dumped.
I can't believe people are still talking about ASICBoost. It's a non-issue that was blown way out of proportion to use as a red herring to distract people. And 8MB blocks certainly won't grow the chain too fast; if the network was at capacity and every block was actually 8MB, that would grow the chain at a rate that keeps pace with growth in storage tech, rather than one that lags behind. Segwit is completely unnecessary, which isn't to say that a malleability fix isn't necessary - it is. The only reason SW could possibly be preferable to FlexTrans is because it's (a hardfork disguised as) a softfork, while FT is a hard fork. To any sane person with an understanding of the underlying technology, the technical debt introduced by SegWit cannot be justified by the perceived safety of it being a softfork.
Let me say , you were right !! BTC is going to kill the market . Everyone just needs to hang on tight
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Yes indeed, korea community helping each other..They are doing great..
Nice decision!
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great work... i upvoted you plz upvote me ??
Watch or beware dumping... this could just be a strategic move.
I held mine and kicked myself but now I am starting to feel quite happy about it. Long may it rise!
KRW also ranks fairly high with the trading volume for BTC. Their government recognizes BTC as a legal currency. Add in China and Japan and they can move the market pretty quickly.
Stormy weather ahead!
Is BCC really crazy ?
I logged in just for this info😉 thanks for sharing😜
@kingscrown be sure to spare us some of your leftover cryptocoins. Just kidding. You really put up a nice view on this topic. Keep it up.
If we just had a crystal ball as to what will happen next. Apparently my guess is just as good as anyone else.
huge dump
good job.
People who truly believe and love bitcoin can hold either btc/bch or probably the ones the that will emerge after the next segwit2x fork.
I try not to trade a lot btc and bcc, just hold, partly i dont understand it all on whats happening and secondly its growth wouldnt make much $ for the investors.
Got lucky - Ripple, Antshares ,Civic got in these months ago, glad :) But i still love daddy and i hold enough too,! All hail :)
meep
hola buen post saludos