Topic: Is this the END of BCH (Read 916 times)
The recent raise in BCH price was mainly due to pumping of it by roger ver and others.They tried their bes by spreading FUD that BCH would replace bitcoin and at the same time,most miners switching towards BCH which resulted in thousands of bitcoin transactions stuck unconfirmed.But all their efforts in vein.But,still they have managed to keep its price above $1,000.Now its price is $1,169.It seems that Roger has planned something for a second innings.
BCH will survive for sure, but the problem is that they make pumps on purpose. They made this to beat bitcoin to prove their victory over bitcoin core developers. This is the bad aspect of BCH.
The entire project has bad vibes. If you look at Calvin Ayre's Facebook, he posted a picture of himself with Craig Wright with a caption about how they were "plotting the death of BTC."
Meanwhile, Bitmain is spamming the BTC network, causing artificially high fees and lots of frustration for services and new users, all to promote the narrative that BCH has cheaper fees.
There are thousands of Korean customers of Bithumb who are furious at the outage at the top of the BCH pump. Very suspicious behavior at the same time that Roger Ver was found to be moving tens of thousands of BTC to Bitfinex.
The whole thing feels manipulated. I don't like to use terms like good and evil, but BCH is about as close to "evil" as it gets in cryptocurrency.
By November, maybe Bitcoin investors will have three or four options to choose from, all of which are called "Bitcoin"...... all of this splitting will draw investment money away from BTC. It's almost as if a new class of altcoins are being created.
This is what I'm concerned about. If BCH continues to survive, it incentivises others to split off a chain of their own. I'm not looking forward to Nov.
BCH will survive for sure, but the problem is that they make pumps on purpose. They made this to beat bitcoin to prove their victory over bitcoin core developers. This is the bad aspect of BCH.
By November, maybe Bitcoin investors will have three or four options to choose from, all of which are called "Bitcoin"...... all of this splitting will draw investment money away from BTC. It's almost as if a new class of altcoins are being created.
This is what I'm concerned about. If BCH continues to survive, it incentivises others to split off a chain of their own. I'm not looking forward to Nov.
It seems to me that with each bitcoin correction its main competing fork will grow and may have some kind of user gain and consolidate a part of the market.
Seems logical as many will not be happy with the direction of either fork and thus look for an alternative, however the same could be said each time bitcoin cash makes a decision in terms of direction, users may not like it and may move back in to BTC.
It seems to me that with each bitcoin correction its main competing fork will grow and may have some kind of user gain and consolidate a part of the market.
BCash is pumping again right now but their volume is only 3.27 million BCH/day compared to BTC which is moving gently sideways yet has a volume of 5.01 million BTC/day. If you assume that a large portion of BCH volume is nothing more than Roger Ver and Jihan Wu exchanging coins among themselves to artificially inflate the volume metric (which is more than a safe assumption, but is rather like a doctrinal principle), then BTC on an average day has more economic activity on its blockchain than BCH on its best day.
Like we saw in the last few days, we follow the growth of the price of the digital currency created in the first division in the network of Bitcoin, called Bitcoin Cash. But the BCH price has fouled from a maximum of $ 2,426 to $ 1,221 in the last 32 hours, according to CoinMarketCap. The currency had the highest price recorded at $2 thousand and, after the same period, fell to $1100, at the brokerage of crippled Bittrex. The fall in the price of Bitcoin Cash occurred on the night of the hard fork scheduled to take place this Monday, November 13, around 5:00 p.m., and will bring about important changes related to the adjustment of the mining difficulty of the network.
actually in my opinion EDA or Emergency Difficulty Adjustment is what keeps BCH alive not what kills it. that is the whole purpose of its existence, to make mining it possible by changing the difficulty drastically and fast, not in the default and more logical way of 2016 blocks.
and there is always going to be pump and dumps that can keep it alive. specially with the SegWit2x drama on the horizon i am sure a lot of whales and speculators are keeping their eyes on BCH and may very well pump it to much higher prices.
and there is always going to be pump and dumps that can keep it alive. specially with the SegWit2x drama on the horizon i am sure a lot of whales and speculators are keeping their eyes on BCH and may very well pump it to much higher prices.
BCH was born like something speculative and price will be very volatile. But in November BTC price will go down and where goes money we shall see, part of it will go to BCH.
I agree bch is very speculative, it was built on ideas and hope rather than real need of people. But why are you so sure about btc price going down in November? Is there some specific technical issue that will result in such a thing?As for the tweet, I think such mining opportunities might create even bigger demand of bch, so it might not affect the price in such a bad way. The idea of losing nothing is very clever though. I mean, if bch becomes not profitable one can always switch to btc fast.
https://twitter.com/oleganza/status/899727482634461185
Not sure is everyone is aware of the EDA mining hack built into BCH.
Not sure is everyone is aware of the EDA mining hack built into BCH.
That twitter post mean nothing, just one person though. BCC/BCH probably going to be #2 some time next year, where lot of miners or voters as in DPOS, money follow.
https://twitter.com/oleganza/status/899727482634461185
Not sure is everyone is aware of the EDA mining hack built into BCH.
Not sure is everyone is aware of the EDA mining hack built into BCH.
Yup, one of two things could happen. Keep tweaking with the difficulty by manipulating the hash rate or pump Bcash to more than 2000 USD per coin. Either way, it doesn't change the fact that it can be used as a cash cow by the miners. I hope they pump it tho. Lol.
By November, maybe Bitcoin investors will have three or four options to choose from, all of which are called "Bitcoin"...... all of this splitting will draw investment money away from BTC. It's almost as if a new class of altcoins are being created.
This is what I'm concerned about. If BCH continues to survive, it incentivises others to split off a chain of their own. I'm not looking forward to Nov.
Same. At first, I held the consensus opinion that BCH is just some crappy altcoin spinoff that would die quickly. But its chart looks really strong. It looks like it's about to break upwards from its bull flag and make more gains against BTC. And it took a good chunk of BTC's hash rate too.
Unfortunately, I think what this has shown is that those in favor of a hard fork may have a better shot splitting off and letting the market fight it out, rather than bickering on mailing lists and social media and trying to get "consensus" that way. In the end, it definitely means less market share for the legacy BTC chain. How much is anyone's guess.
By November, maybe Bitcoin investors will have three or four options to choose from, all of which are called "Bitcoin"...... all of this splitting will draw investment money away from BTC. It's almost as if a new class of altcoins are being created.
This is what I'm concerned about. If BCH continues to survive, it incentivises others to split off a chain of their own. I'm not looking forward to Nov.
BCH was born like something speculative and price will be very volatile. But in November BTC price will go down and where goes money we shall see, part of it will go to BCH.
https://twitter.com/oleganza/status/899727482634461185
Not sure is everyone is aware of the EDA mining hack built into BCH.
Not sure is everyone is aware of the EDA mining hack built into BCH.
I think most people are well aware of the emergency difficulty algorithm, but maybe not the implications for mining profitability. The incentives do seem problematic. As long as price continues to hold so high on exchanges (still > 0.14 as we speak), there is incentive for miners to drop the BTC hash rate and profitably mine BCH by properly timing the EDA.
Meanwhile, new Bitcoin investors are splitting their money between the two investment options. By November, maybe Bitcoin investors will have three or four options to choose from, all of which are called "Bitcoin"...... all of this splitting will draw investment money away from BTC. It's almost as if a new class of altcoins are being created.
https://twitter.com/oleganza/status/899727482634461185
Not sure is everyone is aware of the EDA mining hack built into BCH.
Not sure is everyone is aware of the EDA mining hack built into BCH.
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