Not that we should care about BCH in here but this will be interesting
One could even speculate the correlation between this news and the big move.
There appear to be some problems with BCH mining, perhaps related to the difficulty re-targeting algorithm. It also appears one entity is now in effective control of mining.
I'm curious to learn what is going on here. Anyone know more?
https://twitter.com/aantonop/status/1188277233640755202?s=19 Well, I agree with you Icygreen that we do not necessarily want to either attribute very much credit to various shitcoins, such as bcash variants or even to focus too narrowly on simplified explanations for BTC price movements when there are a large number of factors that seem to push bitcoin's price and sometimes allow for exacerbation of BTC price movements in one direction or another.
On the other hand, we cannot really exactly divorce ourselves with these variety of shitty projects that have attached themselves to us like kids that we had tried to give up for adoption. The misfits seem to want to continue to have a connection and therefore create some effects upon BTC price movements.
I was kind of hoping that some of BTC's short term price movements would involve and even allow for continued purging of froth in the various shitcoin community, and i kind of considered that ongoing purging could be an overall better path forward, yet it still seems difficult to really see the purging to the extent that it really is going on, even though there seemed to have been a lot of strong evidence of purging in our April to June BTC pumpening of 3.5x while various shitcoins barely appreciated in value, and actually lost value respective to bitcoin. In the past, few months (since June), a lot of shitcoins are largely holding their own, and even in this latest pumpening from a few days ago, the various shitcoins seem to have been pumped, along with bitcoin.
Furthermore, the specific mining algorithm or otherwise seeming difficulties in bcash abc mining seems to have not had any real or meaningful negative price ramifications on bcash, at least so far in the short term we have not yet seen it. Many of us know that there are a lot of reasons to characterize bcash abc as a piece of shit, but there still seem to be a decent number of pumpeners who actually believe in the stupid-ass payment mechanism vision, and probably bcash sv is even a BIGGER piece of shit that bcash abc, but it seems that the lack of liquidation avenues causes that piece of shit (referring to bcash sv) to be capable of considerable pumpenings that seem to defy actual logic or fundamentals... so yeah, if scammers are able to pump their shitty scams, then get rich quick dumbasses are going to jump on board and enable those lacking in fundamental zombies to live on for many, many many years, and likely even trap a decent number of innocent folks into their snake oils.
In other words, what I am trying to say is that I don't really see any pumpening of bitcoin or crashing of bcash abc (aka bch) that seems to be caused by their recent news of mining difficulties, which could just be some lagging effect that is taking place, perhaps?