Topic: Real reason why Bitcoin Cash is chasing Bitcoin (Read 597 times)

This is true that no body expected the bitcoin cash to be so active in last  month or so and make such a huge rise in terms of price. But yes somewhere it is also felt that someone of the group are hugely pumping the money in this coin and once it reaches certainly level they will sell out and eventually it will start to fall badly leaving many investors run in losses for their invested money at high prices.

BCH seem to have transactions at higher speed as transaction volume is very low when compared to bitcoin.If BCH faces the same number of transactions as bitcoin has,then we would come to know about the true face of BCH.BCH is not at all accepted anywhere as a payment option and it would not be accepted too.Even bitcoin has not been yet accepted every where as payment,then its not wise for us to expect that BCH would be accepted for payment.The price rise once again seems to be an other pumping attempt for BCH.

+100. There are the small 1% of people that think it will go anywhere, some people just never sold because they don't know what to do, then there are the people pumping it. It's very obvious when they do.

It's just another shitcoin. We can ignore it.

Yeah exactly, there is just some hype because of certain investors pumping it. I wouldn't give it more than few days before it comes crashing down.

Well, let us be true about this. Coins re not alive if it is not for the users. It just varies on how many people uses it.
If we are pertaining to Bcash and Bitcoin. There is no doubt that bitcoin is more popular because it was firstly made. And in my opinion, bcash just went up over ETH because of the recent FUD and until today many are still having faith on it. It can actually be at bitcoins level but Since bitcoin continuously goes up there is nothing alts can do about it. Market still buys it. Not unless every country ban bitcoin and everyone shifts to alts, surely it will pump like bitcoin and as high as bitcoin.

The whales trying to pump the growth is possible to some level, over which the sudden manipulation has lead to large number of traders to switch to bitcoin cash for trading purpose. This gains more market space compared to the past making it grow in a gradual manner.

It was the very first fork and most hodlers are trying to pump BCH since its pricing is brought by the hype around it. The real reason why BCH has a large value today are because of the whales trying to pump it up.

i think the 2 reasons you have listed are indeed the main reasons.
Howver as of today, i think btc is not only serving as a means of payment. it is also acting a bit like a digital gold - a store of value. BCH is nowhere close to being a sound investment product / digital gold.

The only reason of why bitcoin cash is rising is because all the miners are constantly switching between those coins to get more money, they are like a crazy telegram pump group, they want as much money as they can get.

It is not a good thing to move your coins to bitcoin cash, because it is not worth it. This coin has only been rising because it has demand, but only for the MINERS that are always making whatever they want with it.

Why do you think that almost all the mining pools are switching to bcash? it is because they want to mine as much as they can, and when the difficult goes up, they came again to bitcoin to play with the price and then re-buy bcash at a lower rate, and the process can be repeated as much times as they want to.

I don't think so mate have you seen the news bitcoin crash price is falling down again it is only natural in a trading environment for prices to tend to get low. We are currently waiting for the price to go as high as 10,000 US dollars this year and you are saying that bitcoin is bitcoin cash will surpass man. You don't trust bitcoin enough.

Perfect.
People who are still asking about bcash beating BTC didn't understand Bitcoin incentives ecosystem yet.

I'm an early adopter since 2011. I know very well the technical side of Bitcoin. As an old-timer I can assure you that Bitcoin Cash IS THE REAL Bitcoin. I know it sounds weird but the THING that goes by BTC ticker symbol these days is actually an altcoin aka SegWitCoin.

But it will be a temporary increase and after that the price will fell down again, because it is just the manipulating and not a real increase in the price of bitcoin. I think if a person want to do a safe investment then bitcoin is the best option for them, As bitcoin is a trusted  investment and from where it is expected to get good profit.

I wish the developers at BTC would get off their butts and fix the transaction speed and other issues. If they don't fix this in the next couple years, BTC will become more of a memorabilia rather than what it was meant to be.

1. Thank you all for replies.
2. To be clear, I am fan of Bitcoin (BTC), me neither support BCH. I wish them the worst actually, because I would prefer to see clear market situation.

@Wilhelm, Ludwig Von
Thank you for analogy.
But.. look who is using now VHS / u-matic format and what is its value ?
It was eaten by better technologies some time ago. And even those better thechnologies were eaten by next, event better technologies.
Do you see that this analogy just looks like negative scenario would apply (BTC can be eaten by some better coin) ?


@honeyb0y
Ok I hope it would be like that. But as you wrote BCH is pumped a lot nowadays and last time they succedded to pump BCH into 2400 USD for a moment. At same time BTC dived.
Please for a moment make a fresh mind and imagine scenario that those snatch pumped BCH into 3000, 4000 or +4000 USD and then 5000.
I do not know what techniques are they used exactly. Is that only buying and selling big amounts + social fake news.
But if they succeded and lets say BCH would be 4000 USD and BTC 5000 USD then I predict big panic, and the next part of selling BTC and buying BCH because of FUD. I did it last time too a bit.
And that way they can make such a panic that BCH and BTC would eventually flip in values. Can you delete this scenario by some argument ?
How can you be sure that limit of pumping this BCH is 2400 USD ?

@tomahawk9
Yes you are right. This is situation. I agree. Look possible scenario above.
What do you think ? I hope it would not happened, and I give it 15 % of possibilty but let me know how can you be sure it for sure not happen ?

@BitcoinBunny
Thank you for trends view. That is cool.
I agree litecoin is better than BCH. But the rivalisation is between BCH and BTC.
I agree that BCH is shitcoin just to make some money by doers.
But big part of usability of cryptocoin is its possibility to fast send / receive, do you agree ?
So bandwith care a lot. And bandwidth in BTC sux nowadays. It is fact, while BCH managed to make it working better in aspect of bandwidth and fast / slow receive / sending.
And now image you are living in South Korea or Japan and you want to go to electronic shop to buy some new items.
Are you going to stay few hours unless cryptocoin network would proceed your transfer ? I doubt so.
So BCH in this case is more practical.
Don't you agree ?
Except this case BCH is shit as hell, because it is fake and nothing new. But practical usage is for BCH.

@sindikat
Thank you argument with trust and confidence is good.
I hope this would be enough and would prevent success of this pumping shit play.

Someone else have something to be added ? You are welcome !

EDIT:
@Dapallo, DustyRah
Yes I am aware of that. And this is argument A from my post.
So what do you think how much is possible that BCH would overgo BTC soon because of practil usability ?
Please describe some arguments why you are sure and peace about your BTC or why you are fearing about it ?

You nailed it. Bitcoin has a very severe problem when it comes to transaction speed. This problem by itself will prevent Bitcoin from ever being a real currency. No one is going to sit around an hour at the grocery store to wait for a $2 transaction to complete so they can buy their pop with Bitcoin.

The other thing is that miners will mine what is profitable to them. Bitcoin cash performs sensible adjustments and this reason makes it popular with miners who can earn more money with Bitcoin Cash at least for now.

All said and done, BTC is the real king and Bitcoin Cash is a court jester at this time. But if Bitcoin Cash starts getting accepted where Bitcoin is accepted and all exchanges include Bitcoin like they include ETH at this time, we are looking at a very serious competition to Bitcoin.

BCH is a third of BTC's market cap. $40 billion.

I have read a blog somewhere else that was saying that Bitcoincash is way faster with transactions and that the fees were low. Maybe this is why people are stepping over to BCH.
Bitcoin has really problems with the transactions speed and the fees are most of the times very high. For me Bitcoincash is like a second bitcoin.

Altcoins will always chase the number 1 cryptocurrency in the market, but over time some people (investors, users, etc) have learned  that is better to try to coexist with Bitcoin in the cryptomarket than trying to overthrow it. The thing is that BCH has a big group of corrupt and greedy individuals using some destructive methods to try to bring btc down, and get BCH to the #1 spot. Fortunately, btc keeps getting stronger as the price keeps going up, whereas BCH keeps getting ignored by most of the public (only thing the BCH CEO's can do is try to artificially pump the price so that it becomes relevant for a short time). BCH will always be an altcoin, end of story

there's no real reason behind its just an idea of several people who wanted to take charge of this project, we knew that satoshi nakamoto is not showing but still bitcoin exist and grows fast while bitcoin cash have its dev and supporters  who's greedy to be more fame and wanted to  control crypto industry.

All altcoins are chasing bitcoin. But the problem is that they will never be able to catch up. Bitcoin will always be number one. Bitcoin cash can show such jumps only in the short term. Whales and miners can together turn on the pump but the long coins will not be able to stay at the top. For this you need the trust of many people. Such confidence from BTH and never will be.

Bitcoin Cash can never chase bitcoin. You all saw what happened during the pump and dump. It does have a few true believers but it only really grew as a result of market manipulation courtesy of Roger Ver and other Segwit2x backers.

BCH more practical? Maybe to some pumpers and dumpers including the likes of Roger Ver and Jihan Wu it might be. Doubt most people will ever consider it more practical than Bitcoin itself.
To me it comes across as a scam because it is living of the original core name.

Surely Litecoin does everything Bitcoin Cash does. It's much cheaper too now and didn't need such a scammy name to get off the ground either.

Bitcoin Cash reeks of the "Let's quickly create a fork with almost the same name and make sure our mining equipment can only be bought with it so that people HAVE to trade with it at least." ideology.

Google trends indicates the world doesn't care about Bitcoin Cash only when Wu and Ver are using their utmost powers to pump this crap.
Even Litecoin gets more lookups over the last 3 months.

https://trends.google.com/trends/explore?q=bitcoin,bitcoin%20cash,litecoin

It is quite obvious that there are only few people who is trying to buy bitcoin cash. They tries it before and earned a lot from it, it will not be a question that they will do it again. It is impossible that people will prefer BCH over BTC.

Bitcoin is not VHS (versus Betamax), Bitcoin is U-matic if you want an analogy.

Never the bitcoin cash will not dominate the market. There are already two leaders, and they are always. Bitcoin is the pinnacle that reaches offered by any of the altcoins ever. On the altcoins market leader Ethereum and he, too, will remain a leader for a very long time. Bitcoin cash this is just a speculative asset. He was used and thrown away.

BCC is the first fork and has some special marketing value.
Other than that it's like looking into a crystal ball.

Probably BCC will become the same as LiteCoin, a good secondary coin.
BTC will remain king (the VHS of cryptocurrency)

Hello
I am just wondering what is the reason of bitcoin gold raising in value, while bitcoin in such a moments is loosing the value.

My predictions are:
A) there is bigger demand for bitcoin cash as it is more practical for now
especially in north korea and japan there is already some infrastructure and people was using bitcoin to pay there, at least more than in the rest of the world, so this would clarify why bithumb has big part of this movements
B) there are big whales speculating on this or some other less legal situation
there are some blames that Roger Ver is responsible for this
is there any evidence that this price movements are not linked just to demand ?
C) A + B

What predictions do you have ?
Do you agree with one of mine ? If yes then please fill my assumptions with some arguments.

Then I am wondering if it is possible that Bitcoin Cash eventually would eat normal Bitcoin (so overgo it in sense of price) and Bitcoin Cash would dominate the cryptocurrency market. Then what would happen with standard bitcoin, its value would drop ? How much ? 50 % ? More ? Less ?
What do you think ?

Looking for some discussion and as possible the links to facts.

Regards !