Topic: [2017-07-26]ViaBTC Launches Bitcoin Cash, the UAHF Token (Read 21232 times)

Quote from: Vishnu.Reang on August 02, 2017, 10:47:33 PM

How do you define "successful"?

There are two ways of looking in to it. The first is in terms of market cap. This one will be easy for Bitcoin Cash. Already their market cap is fluctuating between $8 billion and $10 billion, and they have the potential to overtake Ethereum, or even BTC itself.

It's not that simple. That's the same logic that says Ripple's market cap is meaningful. When the vast majority of supply cannot be moved/liquidated, the market cap is meaningless. Let's wait until the chain is stable and markets are opened on the bigger exchanges. Then we might begin to see more realistic pricing.

The real prices for a coin will be very different from those that we now see. I can not understand who even buys this coin. It seems to me that all the figures that we see on the exchange are a lie

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STOP SNITCHIN'

Quote from: Vishnu.Reang on August 02, 2017, 10:47:33 PM

How do you define "successful"?

There are two ways of looking in to it. The first is in terms of market cap. This one will be easy for Bitcoin Cash. Already their market cap is fluctuating between $8 billion and $10 billion, and they have the potential to overtake Ethereum, or even BTC itself.

It's not that simple. That's the same logic that says Ripple's market cap is meaningful. When the vast majority of supply cannot be moved/liquidated, the market cap is meaningless. Let's wait until the chain is stable and markets are opened on the bigger exchanges. Then we might begin to see more realistic pricing.

1Referee

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There are two ways of looking in to it. The first is in terms of market cap. This one will be easy for Bitcoin Cash. Already their market cap is fluctuating between $8 billion and $10 billion, and they have the potential to overtake Ethereum, or even BTC itself.

Market caps hold zero value. Especially in case of BCC, as this coin forked off with nearly 16.5 million circulating coins. One coin just need to sell at a price of 1.01BTC to take over Bitcoin's market cap. People for once should stop looking at market caps, and start looking at what really matters - the actual usage. Nothing can beat Bitcoin in this regard.

Quote from: Vishnu.Reang on August 02, 2017, 10:47:33 PM

But the second part is difficult. Can the BCH gain as many users and followers that the BTC is having?

Definitely not. I have said it before, and I'll say it again - this coin purely thrives on the hype that they created. People get excited because they have the ability to liquidate something for BTC or fiat that they haven't bought at all, or didn't at all ask for. It just came out of the air. Once exchanges start to process deposits, this coin will lose its value, and after the dumpfest has taken place, this coin will also lose people's interest. BCC is just a get rich quick tool for those behind this garbage.

Vishnu.Reang

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How do you define "successful"?

There are two ways of looking in to it. The first is in terms of market cap. This one will be easy for Bitcoin Cash. Already their market cap is fluctuating between $8 billion and $10 billion, and they have the potential to overtake Ethereum, or even BTC itself. But the second part is difficult. Can the BCH gain as many users and followers that the BTC is having?

CryptoBry

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We have to welcome BitcoinCash (BCH) to the world of cryptocurrency. I think this new altcoin has a good chance of survival since there is now a build-up of support though we will see how it can perform in the face of the coming massive dump...if there will be no massive dump then much better. I have no problem with this coin...as we are already accustomed to so many coins in the market anyway.

DooMAD

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Leave no FUD unchallenged

Quote from: DooMAD on July 31, 2017, 03:55:08 AM

I interpret that as saying that they would only consider supporting BCC if it proves successful and, for the moment at least, all their eggs are in the SegWit2X basket.

How do you define "successful"?

Well, I guess that's for them to decide, ultimately. The textbook definition for miners is probably something along the lines of "it appears we can make money from this", heh.

Obviously from their standpoint, if the fork falls flat on its face and no one uses it, then it's not going to be worth their consideration, let alone time or effort to mine it. Conversely, if there's a thriving and active chain with steady diff, they'll probably do some calculations and see how financially viable it looks for them. Or, if the situation is somewhere in the middle of those two extremes and it all looks a little uncertain, dividing your hashpower will probably look like a less attractive option than just sticking with the security of a "known quantity" and focusing on SegWit2x alone, which is probably a big enough job on its own to keep them busy. But again, I'm sure they'll do their calculations either way to see what's best for them.

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Quote from: DooMAD on July 31, 2017, 03:55:08 AM

I interpret that as saying that they would only consider supporting BCC if it proves successful and, for the moment at least, all their eggs are in the SegWit2X basket.

How do you define "successful"?

DooMAD

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Quote from: hatshepsut93 on July 28, 2017, 08:37:54 AM

Quote from: Vishnu.Reang on July 26, 2017, 11:50:48 PM

Too early to say that. I heard that Bitmain (and its mining wing AntPool) is considering to support BCC. If that happens, then the value of BCC may rise sharply. And if Bitmain decides to support this coin, then at least some of the other miners may rethink their original decision.

To clarify, supporting a coin means buying it when the price drops, and yes, it's possible that the people behind it (Jihan and Ver) might try to support it at some point, but they can only do it with a purpose of creating confidence for traders to invest in their coin, they can't support it alone. The sell pressure will be huge, and every time it will try to rise, some BTC holders will send their coins to new wallet, import keys from the old wallet and dump BCC. The only way to create growth for an altcoin is to deliver its promises, work on new features, and be competitive with BTC from technical standpoint. And lets face it, only bigblockers believe that this will happen.

There are varying degrees of "support". In purely a trading sense, that might be what it means, but that isn't clear from your post. Some exchanges like Bittrex and Kraken have said they will support BCC in the sense that they will allow users to cash out their BCC if it's safe to do so, but that doesn't mean they're endorsing or approving its use. And it certainly doesn't mean they'll be actively buying the dips themselves. A mining pool supporting it may simply mean lending hash power to that chain and hoping they can profit by selling the resulting mining rewards.

And for Vishnu.Reang's post, specifically revolving around Bitmain's support, Bitmain have stated that they have:

Quote

actively supported the smooth implementation of Segwit2x and will continue to run the btc1 software on all our mining pools, namely Antpool, BTC.COM pool and ConnectBTC, in the foreseeable future.

But also that they:

Quote

do not rule out the possibility of supporting both Segwit2x and BCC.

I interpret that as saying that they would only consider supporting BCC if it proves successful and, for the moment at least, all their eggs are in the SegWit2X basket.

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Quote from: iamTom123 on July 28, 2017, 10:14:56 AM

Oh well, I am definitely sure that something big can be happening on and even after August 1. In the case of BitcoinCash, its marketing should really be making it as an spin-off of Bitcoin in the altcoin category. It might be hard for it to gain a considerable community support and if that is the case then it can just withered gradually.

Now, if I would be getting BCC just because I have BTC then I would gladly receive the said coin and maybe sell them as soon as I can when the value is still good. They might try to sell BCC as the real Bitcoin but we all know it isn't so they might as well change their tactic to gain some needed traction on the market.

viabtc mined the first BCC block at height: 478,321 https://btc.com/000000000000000000f5c8936e44c8eacb973e26c480f4d1065bba44aead4976

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Oh well, I am definitely sure that something big can be happening on and even after August 1. In the case of BitcoinCash, its marketing should really be making it as an spin-off of Bitcoin in the altcoin category. It might be hard for it to gain a considerable community support and if that is the case then it can just withered gradually.

Now, if I would be getting BCC just because I have BTC then I would gladly receive the said coin and maybe sell them as soon as I can when the value is still good. They might try to sell BCC as the real Bitcoin but we all know it isn't so they might as well change their tactic to gain some needed traction on the market.

Gotottack

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This topic is really hot! I would like to say that Via really jumped the gun here. They are just generating noise so that their coin could gain some traction. I really think Via has some sort of ulterior motive here and because of this BCC, they will fork the network and for sure they will sell their BCC as "The Bitcoin"

European Central Bank

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Quote from: Vishnu.Reang on July 26, 2017, 11:50:48 PM

Update: It seems inaccurate to call BCC futures as users already exchange it for cash on ViaBTC and OKEX, so I will stop trying to define it.

of course they're futures. they don't exist yet. people might be getting something for them but they're credits from the exchange for something yet to be born. that's the definition of all futures.

hatshepsut93

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Quote from: jerk10 on July 28, 2017, 04:27:39 AM

Believe me, prices will be nothing more than 0.005 BTC in a week or so after release.

Too early to say that. I heard that Bitmain (and its mining wing AntPool) is considering to support BCC. If that happens, then the value of BCC may rise sharply. And if Bitmain decides to support this coin, then at least some of the other miners may rethink their original decision.

To clarify, supporting a coin means buying it when the price drops, and yes, it's possible that the people behind it (Jihan and Ver) might try to support it at some point, but they can only do it with a purpose of creating confidence for traders to invest in their coin, they can't support it alone. The sell pressure will be huge, and every time it will try to rise, some BTC holders will send their coins to new wallet, import keys from the old wallet and dump BCC. The only way to create growth for an altcoin is to deliver its promises, work on new features, and be competitive with BTC from technical standpoint. And lets face it, only bigblockers believe that this will happen.

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Quote from: CryptoBry on July 27, 2017, 11:36:31 AM

Quote from: CryptoBry on July 27, 2017, 11:36:31 AM

Update: It seems inaccurate to call BCC futures as users already exchange it for cash on ViaBTC and OKEX, so I will stop trying to define it.

It is just a pretty attempt of marketing by launching coin as future of bitcoin. I can't imagine how horribly the community going to react after August 1 when it will be listed on major exchanges. 99% of users going to sell off right after acquiring the coins. Believe me, prices will be nothing more than 0.005 BTC in a week or so after release.

I have the same feeling when it comes to this new altcoin called Bitcoin Cash. It will be dumped so hard that its value will collapsed right before our eyes. anyway, this is just my opinion and not a sure thing since I am just human. Bitcoin Cash can just be a footnote of history.

I totally agree with you. But an early price spike will happen for sure.

Viabtc & the major listed BCC exchange OKex are not so reputable in my a 5-years-chinese-bitcoiner's eyes. I would not even bother to have those coins. Trust me they will dump it before you do.

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Quote from: veleten on July 27, 2017, 04:55:21 PM

Update: It seems inaccurate to call BCC futures as users already exchange it for cash on ViaBTC and OKEX, so I will stop trying to define it.

It is just a pretty attempt of marketing by launching coin as future of bitcoin. I can't imagine how horribly the community going to react after August 1 when it will be listed on major exchanges. 99% of users going to sell off right after acquiring the coins. Believe me, prices will be nothing more than 0.005 BTC in a week or so after release.

I have the same feeling when it comes to this new altcoin called Bitcoin Cash. It will be dumped so hard that its value will collapsed right before our eyes. anyway, this is just my opinion and not a sure thing since I am just human. Bitcoin Cash can just be a footnote of history.

I totally agree with you. But an early price spike will happen for sure.

sandeepkharche

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Quote from: Vishnu.Reang on July 26, 2017, 11:50:48 PM

Believe me, prices will be nothing more than 0.005 BTC in a week or so after release.

Too early to say that. I heard that Bitmain (and its mining wing AntPool) is considering to support BCC. If that happens, then the value of BCC may rise sharply. And if Bitmain decides to support this coin, then at least some of the other miners may rethink their original decision.

not enough to make it economically dominant,make some good money? maybe
but i wonder who would want to hold or trade it,to keep the price of BCC up it would require some major interventions from Via and,possibly Bitmain
I don't see bright future for this altcoin,but anything can happen,indeed
after all money decide everything,if there is enough incentitive to go BCC,miners might sway and cause a domino effect

Initially the price will rise for sure, i can guarantee you that. So the early trade is highly advisable, belive me one is going to earn huge sum in the early trades.

Bhinodm

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Quote from: bouren on July 27, 2017, 10:42:14 AM

Update: It seems inaccurate to call BCC futures as users already exchange it for cash on ViaBTC and OKEX, so I will stop trying to define it.

ViaBTC abruptly announced on July 22 to support Bitcoin Cash(BCC), a “split” coin of a potential hard fork. After the announcement, Chinese bitcoiners in all of the WeChat groups are asking the same questions: what the hell is BCC? is there going to be a chain split? who is behind it, Bitmain? is it free money or a scam? In this series, we will work to lift the fog and help you learn more about the story of BCC.

What is Bitcoin Cash?

Bitcoin Cash, or BCC is the token to Bitcoin ABC, a scaling attempt trying to push for a bitcoin hard fork. The “ABC” part stands for Adjustable Blocksize Cap suggesting that users can determine the big blocksize accordingly. Bitcoin ABC includes many changes, including a dynamic difficulty adjustment where difficulty will be reduced by 25% if less than 6 blocks are generated in 12 hours.

http://news.8btc.com/viabtc-creates-a-new-business-model-by-listing-bitcoin-cash-that-doesnt-exist

I believe its just an attempt to create confusion amongst the investors. Breeding on their panicky behaviour some big folks are going to create huge sums of money for them.

Blessed7

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Quote from: Vishnu.Reang on July 26, 2017, 11:50:48 PM

Believe me, prices will be nothing more than 0.005 BTC in a week or so after release.

Too early to say that. I heard that Bitmain (and its mining wing AntPool) is considering to support BCC. If that happens, then the value of BCC may rise sharply. And if Bitmain decides to support this coin, then at least some of the other miners may rethink their original decision.

Do you really believe its miners who make prices?? No bro, its real users like you and me who shape the prices. And when we talk about users, most of them have no sympathy for this new coin. Community still believes in bitcoin and wouldn't diverge towards Bcc.
" The folk power is much more than fork power. " Cheesy

But what if miners dont fall in line with the users. Users would be the worst hit as it is their money which is at stake. In this situation what i feel is that, users would have to bow down to miners decision at last, if their line of thoughts are completely out of phase.

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Quote from: Vishnu.Reang on July 26, 2017, 11:50:48 PM

Update: It seems inaccurate to call BCC futures as users already exchange it for cash on ViaBTC and OKEX, so I will stop trying to define it.

It is just a pretty attempt of marketing by launching coin as future of bitcoin. I can't imagine how horribly the community going to react after August 1 when it will be listed on major exchanges. 99% of users going to sell off right after acquiring the coins. Believe me, prices will be nothing more than 0.005 BTC in a week or so after release.

All big fishes attempt to create a panic amongst the less experienced users. What i can see that the initial picture after aug 1 would be a havoc caused in the market with majority of investors loosing their money, while thebigger ones trying to cash on this opportunity. Due to lack of clarity regarding the developmentsof Bitcoin fork bitcoin investors are doomed.

veleten

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Believe me, prices will be nothing more than 0.005 BTC in a week or so after release.

Too early to say that. I heard that Bitmain (and its mining wing AntPool) is considering to support BCC. If that happens, then the value of BCC may rise sharply. And if Bitmain decides to support this coin, then at least some of the other miners may rethink their original decision.

not enough to make it economically dominant,make some good money? maybe
but i wonder who would want to hold or trade it,to keep the price of BCC up it would require some major interventions from Via and,possibly Bitmain
I don't see bright future for this altcoin,but anything can happen,indeed
after all money decide everything,if there is enough incentitive to go BCC,miners might sway and cause a domino effect

CryptoBry

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Quote from: Vishnu.Reang on July 26, 2017, 11:50:48 PM

Update: It seems inaccurate to call BCC futures as users already exchange it for cash on ViaBTC and OKEX, so I will stop trying to define it.

It is just a pretty attempt of marketing by launching coin as future of bitcoin. I can't imagine how horribly the community going to react after August 1 when it will be listed on major exchanges. 99% of users going to sell off right after acquiring the coins. Believe me, prices will be nothing more than 0.005 BTC in a week or so after release.

I have the same feeling when it comes to this new altcoin called Bitcoin Cash. It will be dumped so hard that its value will collapsed right before our eyes. anyway, this is just my opinion and not a sure thing since I am just human. Bitcoin Cash can just be a footnote of history.

bouren

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Quote from: Vishnu.Reang on July 26, 2017, 11:50:48 PM

Believe me, prices will be nothing more than 0.005 BTC in a week or so after release.

Too early to say that. I heard that Bitmain (and its mining wing AntPool) is considering to support BCC. If that happens, then the value of BCC may rise sharply. And if Bitmain decides to support this coin, then at least some of the other miners may rethink their original decision.

Do you really believe its miners who make prices?? No bro, its real users like you and me who shape the prices. And when we talk about users, most of them have no sympathy for this new coin. Community still believes in bitcoin and wouldn't diverge towards Bcc.
" The folk power is much more than fork power. " Cheesy

iram1011

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Believe me, prices will be nothing more than 0.005 BTC in a week or so after release.

Too early to say that. I heard that Bitmain (and its mining wing AntPool) is considering to support BCC. If that happens, then the value of BCC may rise sharply. And if Bitmain decides to support this coin, then at least some of the other miners may rethink their original decision.

Indeed it is quite early to predict that. But I can say for sure that Bitcoin community as a whole isn't really welcoming to BCC. They are hating this hardfork move for splitting Bitcoin. Most of them are ready to dump it on 1st August. It would be hard for BCC to survive in market in such conditions. Else see what happens.

Vishnu.Reang

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Believe me, prices will be nothing more than 0.005 BTC in a week or so after release.

Too early to say that. I heard that Bitmain (and its mining wing AntPool) is considering to support BCC. If that happens, then the value of BCC may rise sharply. And if Bitmain decides to support this coin, then at least some of the other miners may rethink their original decision.

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