Well look at you - one of the people that logged onto their computer today to do some homework and find out what exactly is going on, before they sold all their BTC for BCH.
Let me just clear the air.
BITCOIN, is not dead.
It will never "die".
So calm down.
I spoke to 11 people today that called me asking if BITCOIN CLASSIC WAS SHUTTING DOWN???
Yep it is. But who F$5king cares? BITCOIN CORE aka LEGACY - is NOT BITCOIN CLASSIC.
This is a BIG THING to keep in mind. Most of these idiots have no clue what is what and they hears a small, shit chain that was never really in the mix with any substantial hash power , ike Bitcoin Classic is shutting down - coupled with articles that do nothing more than spread FUD while they have thier own agenda to promote on CoinTelegraph, make it appear that Bitcoin itself is shutting down.
THIS IS WHY EVERYONE IS PUTTING TONS OF MONEY INTO BITCOIN CASH.
IT IS MASSIVELY OVERBOUGHT.
First off, stop panicking about Bitcoin dropping. I said it would and everyone that has been in this game for a minute - knows exactly what is going on. Its a price correction. Thats all.
Bitcoin surged to insane highs last week ahead of the proposed fork, due, in part to the news of the CME futures, and in part based on the "free money" aspect we all hoped for.
Now that Segwit has been called off some of the developers that were pushing for the 2x are backing the shit out of Bitcoin Cash as , essentially "plan B."
Bitcoin Cash will NOT be rebranded at Bitcoin. I can all but promise that. What I do believe is happening is that there is a TON of FUD spreading that , you may see BITCOIn drop to 5000 or 4000 and BCH hit well over $1000 and who knows - maybe it overtakes Bitcoin!
Sorry, but it aint happening.
Bitcoin is a store of value. I know little mutumbo needs to pay his uncle in zimbabwe so he spends bitcoin, but his $4.00 purchase isnt moving the price action or volume.
The whales, like banks, big investors and hedge funds are the ones that really set the price for Bitcoin.
Big money isnt buying 50M of Bitcoin because they are paying people in Bitcoin. THEY ARE DOING IT AS A STORE OF VALUE.
BUT WHAT DOES THIS ALL MEAN?!
I do believe BCH has its place in the market and will take some value from BTC. I personally have 15% of my BTC in BCH. Thats it, and thats all its ever gonna get.
Frankly I think you are an idiot if you sold all your BTC for BCH. It shows you dont understand the market, trends, charts or investing. It only shows that you think you are a genius because you can jump on a bandwagon.
The developers Ive spoken too and some of the NYA agreement signers are all on the same page with me on this one. We all feel that Bitcoin will do what it always does. Shake off the loose leaves with a price correction (this is a very good thing in the big picture) and continue its upward trend.
Short term I think Bitcoin Cash will rise as high as 1/4th the value of Bitcoin. But as soon as Bitcoin hits $10k and it is going to hit $10k - we are going to see BTC dump to under 1/10th of the value.
When we step back out of this small world we nerd live in and look at the BIG picture we can more clearly see that Bitcoin has undergone this up-n-down sequence many many times and we always find a way to get scared.
Oh no - its China, should I sell??? Oh wait, Jaime Dimon said its a scam, should I sell?? Crap ICOS are going to be regulated, should I sell?
No. YOU SHOULD DIVERSIFY.
Put 10-15% of your BTC into BCH and stop checking your damn Blockfolio like a crack addict looking for his next score.
Its going to be ok.
I think BTC is not done yet by a long shot. But the day is approaching when the behemoth will be no more. Why? because it no longer serves any real funtion and like a dinosaur it is not in it's DNA to survive. But it will live at least another 5 years.
