The bitcoin fork was successful. Bitcoin was forked, but the new fork seems to die slowly. Bitcoin Cash started to trade for 500 and now it's traded for 200 and the price appear to get lower.
I thought the fork will be adopted, but it seems the bitcoin as a currency is not driven by the nodes, exchanges and mining pools, but by the markets. Maybe this could could be a proof that POS and DPOS are a better alternative to POW.
In my opinion, it is WAY WAY too early to say.
Fact is Bitcoin Cash crossed 1 hurdle... many said the first block would never be mined. Block 478559 on the BCH chain http://blockdozer.com/insight/block/000000000000000000651ef99cb9fcbe0dadde1d424bd9f15ff20136191a5eec was the first greater than 1 MB block for any bitcoin.
The difficulities of BCH will start to adjust soon and one can expect the BCH chain to start to produce blocks at approx the 10 minute rate within 1 day or so... THEN maybe more hashrate will move over because maybe it will be more profitable... THEN maybe bitcoin will slow down more leading to bad press (since bitcoin will take 2016 blocks ~ 14 days to adjust)... this alone could swing the markets.
Also, it will depend on the exchanges. If several exchanges open BTC/BCH, BCH/USD, BCH/CNY, and BCH/ETH trading then BCH is, at a minimum, another altcoin for the traders, with a (new but long) history and strong community of belivers.
AT THIS POINT ANYTHING COULD HAPPEN... BCH COULD DIE, BCH COULD KILL BCT SLOWLY OR BCH AND BCT COULD SURVIVE SIDE BY SIDE.
My opinion is that BCH will settle between $100 and $400 and BTC will pass $3000 and not look back. Longer term will depend on Segwit2X in November and merchant adoption of BCH in the next months.
Wow! It's 250$ at the moment. May be it may take some time to stabilize. I support BTC though. This is a Bitmain coin; their KARMA will do the needful.
Does that mean bitcoin cash is dying due to separation?
Future will tell. Currently it seems to go in that direction. Probably not dying but going to irrelevance...
It seems like everyone is dumping.
Let's see what happens when BCH is open on bittrex. Might see a larger drop in price haha
BCH doesn't seem like it was supported but that was expected in my opinion.
At least we had a really smooth transition with no drastic fluctuations in price @steem-buzz
Wait and see i think, there hasn't been a bottom yet.
Probably gonna HODL mine for now
Let's open a Proseccoin 😜
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