Topic: [2017-08-18] 'Bitcoin cash' surges 40% in single day as investors bet on... - page 2. (Read 8300 times)

I think the lesson here is that the November segwit2x fork better pick a good name:
Bitcoin2
Bitcoin2x
BitcoinNext

40% is quite high for a digital currency many despised in its early days, I guess all the negative hype was all in the bid to buy cheap bitcoin cash tokens ....well played now we wait and see how it will hold up or maybe its just another pump and dump crypto? Only time will tell.

I like your thoughts on this... I am not a fan of Bitcoin Cash but I want to play safe that's why I bought some earlier to have the same quantity to my Bitcoins. If they both make it to top then that means I had made a right decision.

By the way, though miners find it more profitable to mine BCC, I guess the end result would still vary upon which coin will be patronized by us. The mere fact that we all had the same amount of BCC and BTC after the fork (granting that you didn't sell yours), we can choose whether which coin we would use as payment method.

It did dump significantly as expected by a lot people, but not exactly to the lower values people were speculating about. I have cashed out all my BCC's a while back, so for me there is not much to benefit from anymore. That's however not the case for those having kept a few BCC coins aside -- current levels are perfect for converting these coins into Bitcoin. I don't expect BCC to maintain its value above the 0.10 BTC level for long, so people are better off cashing out at current levels. But then again, since people obtained BCC for free, they won't lose anything in case the price happens to tank. It's all profit.

I am impressed about this, i thought bitcoin cash was gonna dump to $100 in a few days, looks like i miss that prediction, lol.
By the way, this price is hyped because of speculation, i dont think it is gonna be in there forever.
It might fall in a few weeks/days

'Bitcoin cash' surges 40% in single day as investors bet on its faster processing speeds


The bitcoin offshoot, bitcoin cash, soared Friday after indications the alternative digital currency could achieve its goal of speeding up transactions.

Bitcoin cash rose 40 percent from Thursday's close of $460.53 to briefly hit $655 Friday afternoon, according to CoinMarketCap. That's the highest since bitcoin cash touched $756.93 on Aug. 2, the day after bitcoin split into bitcoin and bitcoin cash.

However, the volatile surge was even greater when considering bitcoin cash hit an intraday low of $293 Thursday before climbing to $460.53, according to CoinMarketCap.

On Wednesday morning, bitcoin cash "miners" successfully demonstrated that the digital currency could support an eight megabyte block, versus the original bitcoin's one megabyte. Blocks are part of the blockchain technology behind digital currencies like bitcoin that limit transaction speeds.

The eight megabyte block "has proven that bitcoin cash is working," said Charlie Hayter, CEO of digital currency information website CryptoCompare.

He added that gains in bitcoin cash's price made it more profitable and easier for miners to mine bitcoin cash versus bitcoin, contributing to further gains in the offshoot currency's price.

Investors in bitcoin at the time of the Aug. 1 split should have received equal amounts of bitcoin cash.

The original bitcoin traded 2 percent lower Friday near $4,220 after hitting an all-time high of $4,522.13 Thursday, according to CoinDesk. At Friday's prices, bitcoin had a market value of about $70 billion and remained more than four times higher for the year.

Another digital currency, ethereum, traded 3 percent lower near $292, according to CoinDesk. Ethereum has the second-largest market capitalization among cryptocurrencies at $28 billion, according to CoinMarketCap.

With Friday's gains, bitcoin cash ranked third by market value at around $10 billion, according to CoinMarketCap.

https://www.cnbc.com/2017/08/18/bitcoin-cash-surges-as-investors-bet-on-its-faster-processing-speeds.html