The Value and the Relationship between BTC and BCH

Bitcoin Guy

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Quote from: aTriz on August 03, 2017, 01:53:09 AM

I agree with a bit of what you said since and the combined value does add up to around 3K, didn’t think of it that way. Maybe Bitcoin cash will grow when bitcoin drops but I doubt it since Bitcoin cash is just an alt coin and nothing special. I will predict that a pump happens to Bitcoin cash with all this hype and then when people realise the truth the coin will starting dropping and will probably drop to 200 or somewhere like that.

An interesting event, especially with all of the FUD and hype, but it was a shame it didn’t really do much.

I believe the reason why the BCH has its higher than expected value right now is because that many people cannot sell them due to exchange restriction (such as from Coinbase) or problem in the selling process. Once people have access to their BCH and once people can freely sell their BCH, I would expect its price to drop significantly, and maybe, to double digits.

aTriz

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Quote from: Bitcoin Guy on August 01, 2017, 04:21:17 PM

It looks like BCH is here to stay. For now, it seems that the combined value of both BTC and BCH is, consistently, around $3000. When BTC goes up by $50, BCH goes down by $50 and vice versa. Not sure how long this relationship will last. I do not mind for my exchange to sell off BCH now in exchange for more BTCs.

They said that Bitmain and Roger Ver were going to sell off their bitcoins and put the money into BCH after the fork and they are probably doing it right now. That is why the price of BCH is sustaining at this moment. Once they run out of the capital from selling bitcoins, the price of BCH will probably drop.

If BCH made it and survived with a decent price, that would encourage more similiar Bitcoin split in the future - which is not a good thing in my humble opinion.

I agree with a bit of what you said since and the combined value does add up to around 3K, didn’t think of it that way. Maybe Bitcoin cash will grow when bitcoin drops but I doubt it since Bitcoin cash is just an alt coin and nothing special. I will predict that a pump happens to Bitcoin cash with all this hype and then when people realise the truth the coin will starting dropping and will probably drop to 200 or somewhere like that.

An interesting event, especially with all of the FUD and hype, but it was a shame it didn’t really do much.

jorneyflair

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I don’t think that a lot of people realise this, but at the end of the day Bitcoin cash is just an alt coin that has the same name of Bitcoin. I think a lot of the newbies to bitcoin will jump at this chance but the veterans or the people who have invested in Bitcoin from step one will not mind too much about Bitcoin Cash.

Bitcoin cash also raises another problem to the decentralisation of Bitcoin since Bitcoin cash is managed by a small group of people therefore making it centralised and also making it oppose what makes Bitcoin special, which is that it gives people the freedom of spending.

aTriz

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I agree with a bit of what you said since and the combined value does add up to around 3K, didn’t think of it that way. Maybe Bitcoin cash will grow when bitcoin drops but I doubt it since Bitcoin cash is just an alt coin and nothing special. I will predict that a pump happens to Bitcoin cash with all this hype and then when people realise the truth the coin will starting dropping and will probably drop to 200 or somewhere like that.

An interesting event, especially with all of the FUD and hype, but it was a shame it didn’t really do much.

worthy1

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Quote from: richsoon on August 02, 2017, 06:09:50 PM

Well BTC stayed relatively stable while BCH has pumped thus far, the combined value is above $3500 now. Many people expected BTC price to drop after the coins were paid out but the only thing that happened was the general alt market pumped, I guess because no one sold for fiat and only traded their BTC for altcoins.

Not sure what you are looking at but it dropped from $2900 odd to almost the $2500, rebounded to the $2700's and back under that now. That's not remaining stable. Also after the BCH pump and dump it has dropped slightly, not gained. Considering everyone was saying they were going to dump their BCH for more BTC then it should be up over $3000, what did they do with their BCH takings?

Maybe now Polo is back BTC may move but it hasn't yet and you would think people would be hesitant to use Polo again anyway.

richsoon

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Well BTC stayed relatively stable while BCH has pumped thus far, the combined value is above $3500 now. Many people expected BTC price to drop after the coins were paid out but the only thing that happened was the general alt market pumped, I guess because no one sold for fiat and only traded their BTC for altcoins.

Fourgh

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Quote from: ranreichman on August 01, 2017, 06:28:47 PM

The real problem with Bitcoin Cash is that it's managed by a small group of people. That's antithetical to the Bitcoin decentralization ideal. It's possible that over time more people will use Bitcoin Cash and it'll become a non-centralized currency but that's yet to be seen.

Yes I agree to that. Many people will eventually transfer if more people move to Bitcoin Cash because it is highly sensationalized and about the 8MB blockchain size that devs are so proud of. I really wonder if Bitcoin Cash purpose all along is to dethrone the Bitcoin from it's dominance in the cryptocurrency domain.

galactica

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Until people have the opportunity to dump their coins (or not) we can't really say what the relationship is.

Harlot

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Thinking it from an Altcoin perspective we know that they don't have any relationships at all. You know there are times where Bitcoin is the only one who is up in the market and all Altcoins are down? That means they are selling and putting their money in Bitcoin, Bitcoin Cash will have the same effect on its price as well if the investors does not think Bitcoin Cash has the potential like Bitcoin it will surely go down. Because I don't see a copy of Bitcoin be on par with the original one.

batang_bitcoin

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Quote from: Bitcoin Guy on August 02, 2017, 08:28:45 AM

Quote from: batang_bitcoin on August 01, 2017, 10:41:16 PM

If he said that he was just about to go with BTU then it was only for it. But who knows on what he's about to do. He's been doing things and push something that he thinks will support him by the community. Why he doesn't want to stick with bitcoin so that everyone of us will live happily ever after and it will never end.

He has been trying to create a new coin out of Bitcoin as he was very unhappy about the Core community not willing to increase the block size. As BTU did not work out, BCH is his next chance. I thinkg he is a very happy man now. Not only did the new coin plan get realized, he has probably been selling his BTC to exchange for BCH at a 1 to 10 ratio.

He never gets tired about making money. He should get himself an early retirement his filthy rich now. He always want to make money and that's what his goal with his life for now. Giving some newbies an headache by doing some ridiculous things that he is the one to benefit from it. Oh well this is all about making money, no other reasons. And looking at BCH the price is quite an ideal for everyone.

cafucafucafu

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Bitcoin cash is certainly an interesting idea and may seem like something worth investing in for some people, but I still think that the whales that have heaps of Bitcoin won’t pay much attention to it, maybe just claim some free Bitcoin cash, hold it and resume life as normal. No matter what, Bitcoin cash is just an alt coin, not the real deal.

The only way for Bitcoin cash to grow was if Bitcoin cash started getting accepted, legalized and just receiving a bunch of media attention, but I don’t think that will be happening anytime soon.

Red-Apple

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for the millionth time it is too soon to say, you are speculating about something that is not yet released.
- there are only a handful of blocks mined in the past day!!
- there are a small total number of transactions meaning nobody has yet moved their coins or downloaded the wallet
- the exchanges have not yet enabled deposits!

at least let the deposits of BCH be open for 1 day then start talking about "relationship"

Bitcoin Guy

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Quote from: batang_bitcoin on August 01, 2017, 10:41:16 PM

If he said that he was just about to go with BTU then it was only for it. But who knows on what he's about to do. He's been doing things and push something that he thinks will support him by the community. Why he doesn't want to stick with bitcoin so that everyone of us will live happily ever after and it will never end.

He has been trying to create a new coin out of Bitcoin as he was very unhappy about the Core community not willing to increase the block size. As BTU did not work out, BCH is his next chance. I thinkg he is a very happy man now. Not only did the new coin plan get realized, he has probably been selling his BTC to exchange for BCH at a 1 to 10 ratio.

Quote from: zarados on August 02, 2017, 01:28:08 AM

I wonder the BCC or BCH? which is the correct abbreviation, or both are correct.

BCH is the correct one. BCC is the symbol for Bitconnect - which is currently ranked around 13 in market cap now.

Quote from: xypos on August 02, 2017, 04:55:03 AM

This correlation might be true now but will only be lessened as time goes by because after all, bitcoin cash isn't really anything more than an altcoin airdrop. Bitcoin and Ethereum probably has an inverse relationship as well because there is only this much investor funds available in the crypto scene. Bitcoin cash is not different.

Logically speaking i can see why this correlation is true, so don't get me wrong. Thereotically, yes, bitcoin cash + bitcoin = actual bitcoin value pre-fork. But practically it is quite different. Bitcoin cash has now risen by 70%, whilst bitcoin has only dropped by 3%. If what you said was true, then bitcoin would have dropped by at least 10-15%.

Yes, the correlation only works in short term - very short. Right now, the combined values is $3500. I did not expect the BCH price can go so high!

I am not 100% sure, but I read that these miners (mainly Bitmain) who departed from BTC and going into BCH is about 20% to 25% of the pre-folk BTC harshing power. If that is correct, then these miners would equal to about 1/4 to 1/3 of the current BTC hashing power. If we based the price on the hashing power, BCH might end up with 25% to 33% of the BTC value. (Notice that there are a lot of "IFs" in here.)

xypos

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Quote from: Bitcoin Guy on August 01, 2017, 04:21:17 PM

It looks like BCH is here to stay. For now, it seems that the combined value of both BTC and BCH is, consistently, around $3000. When BTC goes up by $50, BCH goes down by $50 and vice versa. Not sure how long this relationship will last. I do not mind for my exchange to sell off BCH now in exchange for more BTCs.

They said that Bitmain and Roger Ver were going to sell off their bitcoins and put the money into BCH after the fork and they are probably doing it right now. That is why the price of BCH is sustaining at this moment. Once they run out of the capital from selling bitcoins, the price of BCH will probably drop.

If BCH made it and survived with a decent price, that would encourage more similiar Bitcoin split in the future - which is not a good thing in my humble opinion.

This correlation might be true now but will only be lessened as time goes by because after all, bitcoin cash isn't really anything more than an altcoin airdrop. Bitcoin and Ethereum probably has an inverse relationship as well because there is only this much investor funds available in the crypto scene. Bitcoin cash is not different.

Logically speaking i can see why this correlation is true, so don't get me wrong. Thereotically, yes, bitcoin cash + bitcoin = actual bitcoin value pre-fork. But practically it is quite different. Bitcoin cash has now risen by 70%, whilst bitcoin has only dropped by 3%. If what you said was true, then bitcoin would have dropped by at least 10-15%.

jekjekman

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I really don't know why it happens though even though there is no split happened and fork. This people that made the Bitcoin Cash is so desperate to support the new altcoin in able to enter the scene with no hard work has been done, they just go with the flow of August 1 and then here they are now.

As you can see BCH is the top 3 crypto currency now, it takes the spot with an instant shortcut and no hassle at all.

anonppcoin

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Quote from: zarados on August 02, 2017, 01:28:08 AM

I wonder the BCC or BCH? which is the correct abbreviation, or both are correct. Anyway, in my opinion, the bitcoin cash is just a diversion issue and the market control for the bitcoin holder, if there's no bitcoin cash, most people will hold their btc, and other people buy more btc. Because they believe that after the segwit activation, the price will pump. So the bitcoin inventory became more limited. And with the bitcoin cash hire, theres at least there's some people are doubious and the safe way is to sell the btc. So the price of btc still stable until right now. Am I wrong?

Quote from: senin on August 01, 2017, 11:29:54 PM

I think BCC will not be able to support for a long time and it will soon fall. A bitcoin will continue to grow in price. This will happen as soon as the community fully understands what happened on August 1. The leading stock exchanges have already decided and stated that they will not support the BCC.

Same post total and everything! Nice signature scamming!

zarados

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I wonder the BCC or BCH? which is the correct abbreviation, or both are correct. Anyway, in my opinion, the bitcoin cash is just a diversion issue and the market control for the bitcoin holder, if there's no bitcoin cash, most people will hold their btc, and other people buy more btc. Because they believe that after the segwit activation, the price will pump. So the bitcoin inventory became more limited. And with the bitcoin cash hire, theres at least there's some people are doubious and the safe way is to sell the btc. So the price of btc still stable until right now. Am I wrong?

senin

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I think BCC will not be able to support for a long time and it will soon fall. A bitcoin will continue to grow in price. This will happen as soon as the community fully understands what happened on August 1. The leading stock exchanges have already decided and stated that they will not support the BCC.

batang_bitcoin

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Quote from: Bitcoin Guy on August 01, 2017, 06:41:53 PM

Quote from: batang_bitcoin on August 01, 2017, 06:13:34 PM

Who said this? A businessman will always be wise as a businessman. Why would they gamble their thousands of bitcoin for this new creation? It's just odd that they will let their profit go into the thin air, no way they won't do it. Probably they will but maybe 10% of their total bitcoins.

Actually it was Roger Ver himself who said that first:
https://cointelegraph.com/news/roger-ver-i-will-sell-my-coins-to-buy-more-useful-bitcoin-unlimited

Although he was referring to BTU, I believe he is doing the same for BCH - specially when the pushing for BTU has not worked out (yet?).

I read from an article or blog somewhere this week that he can others will sell Bitcoin to buy the BCH. The article did not mention how much they will sell though. You were right that a rational businessman will not take that kind of chance and would understand the meaning of diversification.

If he said that he was just about to go with BTU then it was only for it. But who knows on what he's about to do. He's been doing things and push something that he thinks will support him by the community. Why he doesn't want to stick with bitcoin so that everyone of us will live happily ever after and it will never end.

Bitcoin Guy

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Quote from: batang_bitcoin on August 01, 2017, 06:13:34 PM

Who said this? A businessman will always be wise as a businessman. Why would they gamble their thousands of bitcoin for this new creation? It's just odd that they will let their profit go into the thin air, no way they won't do it. Probably they will but maybe 10% of their total bitcoins.

Actually it was Roger Ver himself who said that first:
https://cointelegraph.com/news/roger-ver-i-will-sell-my-coins-to-buy-more-useful-bitcoin-unlimited

Although he was referring to BTU, I believe he is doing the same for BCH - specially when the pushing for BTU has not worked out (yet?).

I read from an article or blog somewhere this week that he can others will sell Bitcoin to buy the BCH. The article did not mention how much they will sell though. You were right that a rational businessman will not take that kind of chance and would understand the meaning of diversification.

Topic: The Value and the Relationship between BTC and BCH (Read 1998 times)