You are viewing a single comment's thread from:

RE: Bitcoin (BTC) Mid-Day Update: Precisiont HIT of Downside Elliott Wave Targets!! THIS IS THE POWER OF TECHNICAL ANALYSIS!!!

in #bitcoin7 years ago

Miners like bigger blocks. Users get served better with faster and cheaper blocks which also result in more merchant adoption. BTC hashpower has fallen over 60% in 2 days. All of that went to BCH. Think about the effects of that.
https://fork.lol/pow/hashrate
BCH is also the longest chain BTW.

This has the pump&dump speculators involved. But there are also tons of long term sustainability and fundamentals involved too.

Sort:  

Doesn't really matter that BCH is the longer chain, since the difficuly was always way lower than BTC. The total work is what most people care about. I think BCH will overtake BTC eventually, but BTC has over ~50% more work than BCH.

I agree it won't happen right now. It could take upto another year. If some banksters pull of something things good go in a different direction. I actually had a very long discussion on this post: https://steemit.com/cryptocurrency/@arthuradamson/bitconnect-investigation-if-this-is-a-scam-and-it-falls-the-government-will-not-turn-a-blind-eye

Please take your time to check it out. There was several pages worth content in the comments.