Over the last 2 days BTC has dropped fast from its all time high of $19,800 to it's current value of $16,200 while Bitcoin Cash continues to shoot up at an incredible rate as I write these words now...
This surge most likely relates to the popular exchange Coinbase adding Bitcoin Cash to their list.
Just a week ago it was at $1500 and moments ago it moved past $3000. You won't see Bitcoin's value double in a week.
A sign of things to come?
We should all know by now about the scalilbility issue of BTC and the growing realisation amonst investors this is NOT the coin of the future in the way it has been sold to us.
On the contrarty, Bitcoin Cash is the one which I believe will ultimately replace Bitcoin. With it's familiar logo, fast transaction times, low fees and scalability issues resolved it is only a question of time before this coin reaches unprecedented heights as a genuine method of exchange for all of us in the future.
The future of Bitcoin itself is unclear. It will no doubt remain with us, but as a long term storage of value only. Not as a means of exchange for us common folk.
This is what BTC looks like currently.
What's the difference between Bitcoin & Bitcoin Cash?
If any of you are confused about how it is that we now have two competing Bitcoins with very different ideas behind them, please watch the video beneath, which for me is one of the best explanations I have seen on this subject.
Many thanks to Decentralized Thought for making this short and clear explanation.
The safest way to hold your Bitcoin Cash
Many seem to enjoy the (shape shift) convenience and look of the Exodus wallet but it is not as safe as the Electron Wallet which you can download here
External wallets are always safer than keeping your money on the markets as the exchange sites are not decentralised and many people have lost thousands there with little in the way of customer support to help them get it back.
Hope this has helped in your understanding of our current Bitcoin/Bitcoin Cash situation.
I have been backing Bitcoin Cash since it was just $300 so am feeling quite pleased with myself in this moment.
It shall be a merry Christmas indeed!
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#operationdragonslayer got started a bit later than expected but it's coming to fruition. if we play our cards right during this bitcoin correction/crash we'll be sailing in the sun this summer.
I think this may have been a test run. Things seem to be stabilising again. But for sure I am ready!
Love this post, @samstonehill. You know a while back someone advised me to sell my BitCoin Cash. Saying that it had already seen its best days. I am sure glad I did not take his advice. =)
Damn right my friend. If you want to better understand the full picture I suggest you check out this one:
Took me an eternity to put together but it was probably the most important one I've ever written for so many people now.
https://steemit.com/bitcoin/@samstonehill/the-wolf-in-sheep-s-clothing-btc-compromised-by-banks-while-chinese-miners-prepare-to-crash-the-markets
Oh I have already read and upvoted that post of yours. Loved it also. As I really do love much of your work. Really the one about Bitcoin crashing 6 times got me a big giggle. Actually have shared your work (Chagga post) in The Curater magazine that I run with my good friend @biglipsmama. She loves your work also. We would actually love to share more of your work. Thank you for the nice reply. =)
That is why I never sold off the free bitcoin cash I got after the fork. And later on when I bought some more BTC, I also made sure to buy the exact same amount of BCH, because you never know which one rises more. In this situation, I'm happy about either of them rising :) By the way, I also just wrote an article about why BCH is rising, https://steemit.com/bitcoincash/@hmushtaq/bitcoin-cash-is-rising-and-this-is-the-reason-why
Thank's I will check that out...
I also bought BTC cash after the fork and now its doing nicely. Thanks for the info about the wallets, I use Exodus but will have a look at the other one as well.
Exodus is a great one hey.
If you enjoy practicing Law of Attraction, use this as your wallpaper!
oh yes, thats a good one, thanks
Post a amazing i like bitcoin
Follow me and vote @syehwan
Thanks for the comment
Coinbase just added Bitcoin Cash right now.
I'm a little bummed, I thought it was coming on the 1st of Jan and I was going to grab a small position just beforehand... now I feel like it's surged and will probably dump any moment now.
It's a long holder for me. I have a total of 3 BCC and won't be letting go till the price hits $10,000 :)
THANK YOU. I am just getting going, just tried to move some bitcoin for the first time just today and was stunned by the fees. My wife and I have been considering where to diversify, and your input has been quite helpful in deciding how to do that.
Pleased you found it helpful. Yeah, BTC is getting crazy for its fees and transaction times now.
even less time on steemit than usual, no five re-steems a day and i wonder if that autobot at the end of the month will still consider me spam while no-one i upvote and/or re-steem actually complains ... #fuckwhales and good luck
viewed, voted, commented, and re-steemed ...
anyone follows me i'll follow back within a few days
if you have complaints please check the blog or i can link you the why ... a resteem is a resteem, atm to 137 people, thats 134 chances to have it re-resteemed,
If you take this for what it is : a re-steem by someone who doesnt spend 12 hours a day on steemit, then it is what it is, i usually use my remaining daily votes to up replies that arent threats or content dictator bs. If those people wouldnt bug me and stick to their own zone then this text wouldnt be so lengthy , #fuckwhales, community -- diversity!
if you consider this spam, then by all means, the mute button is on the top right side, feel free to do so and you'll never have to read me again :). Yes, quite simple : instead of acting like you own the place. Just mute me and send me a reply that you did, i will mute you too and ofcourse never resteem or reply anymore (end of spam) its a lot more sympa and we'll never have to see or hear eachother ever again.
otherwise, good luck ... be wary of whales and stalkers, content dictators and bedroom nurrd fascists ... extortion bots and hatebots ...