WTF? $20.000.000.000 seem to have been poured into BCH in a couple of days

HabBear

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Quote from: Don Pedro Dinero on November 12, 2017, 12:26:27 AM

BCH has gone from around $10 billion market cap to $30 billion market cap in a couple of days. Who the hell has some spare $20 billion to pour into BCH? Buffet’s net worth is around $77 billion.

Your understanding of the math is flawed. An increase in market cap does not represent a "dollar for dollar" relationship to the amount of money invested in the asset.

Each new dollar invested in an asset has an impact on all the dollars invested before it.

E.g., I invest $10 into an asset worth $1. Then someone invests $1000 when the asset is worth $10. The growth of my shares from being worth $1 to being worth $10 doesn't mean I invested a new $90 into the asset.

eternalgloom

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Quote from: leojust on November 15, 2017, 12:36:36 AM

Quote from: BitcoinPanther on November 14, 2017, 06:37:49 PM

Of course Media helps a lot too.

Yes they do and one of the biggest culprits was coindesk.com

They have a lot to answer for, it wouldn't surprise me if they were offered money to pump BCH and FUD Bitcoin, they could not produce new articles of FUD about Bitcoin fast enough, all over social media.

Anyone know who owns Coindesk?

Coindesk is owned by Digital Currency Group, you can find it on their Wikipedia page.
There have been quite a few other news outlets promoting Bitcoin Cash as well though, so it's not just Coindesk.

Heck, Coindesk might just be rehashing some of the news from other websites, they all do this.

https://en.wikipedia.org/wiki/CoinDesk
https://en.wikipedia.org/wiki/Digital_Currency_Group

BartS

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Quote from: Creepings on November 12, 2017, 08:20:01 AM

Quote from: yaelahwall on November 12, 2017, 02:49:17 AM

i do not know what happened maybe bitcoin is too expensive in buy so they switched to BCH and now BCH wow amazing price make me jump and i have 30 BCH hahhaha this is very fun

I think with the feature of bitcoin cash having good transaction times and fees attracted users and also miners. But the thing here is that price pump is magnanimous, everyone is shocked on that pump and who would not think that this might be another scheme the investors are doing.

Their transactions times cannot attract any users because no one is using bitcoin cash to transact anything, only speculators are happy with this situation, they love a coin that moves a lot and bitcoin cash fits the bill, do not think even for a second that the market cap that bitcoin cash currently has is any indication of its acceptance among the users of cryptocurrencies.

roddy5

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Quote from: Don Pedro Dinero on November 12, 2017, 12:26:27 AM

I get up and see this:

BCH has gone from around $10 billion market cap to $30 billion market cap in a couple of days. Who the hell has some spare $20 billion to pour into BCH? Buffet’s net worth is around $77 billion.

I don’t think this can only be explained to Roger Ver and Jihan Wu going all in on BCH. They must have persuaded institutional investors to get into BCH. Apart from scared people exchanging BTC for BCH.

I will HODL but this is serious.

This was a clear manipulation on the prices of BTC and BCH that was made by the whales if you can see the current price BTC was able to regain its value in less than a week, and BCH is now loosing its value. If you traded a huge amount of coin during the manipulation then calculate how much income did they earn,.

leojust

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Quote from: BitcoinPanther on November 14, 2017, 06:37:49 PM

Of course Media helps a lot too.

Yes they do and one of the biggest culprits was coindesk.com

They have a lot to answer for, it wouldn't surprise me if they were offered money to pump BCH and FUD Bitcoin, they could not produce new articles of FUD about Bitcoin fast enough, all over social media.

Anyone know who owns Coindesk?

BitcoinPanther

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Quote from: knircky on November 12, 2017, 12:34:36 AM

Quote from: Don Pedro Dinero on November 12, 2017, 12:26:27 AM

I get up and see this:

[IMG width=100 ]http://i64.tinypic.com/jr4e8l.jpg[/img]

BCH has gone from around $10 billion market cap to $30 billion market cap in a couple of days. Who the hell has some spare $20 billion to pour into BCH? Buffet’s net worth is around $77 billion.

I don’t think this can only be explained to Roger Ver and Jihan Wu going all in on BCH. They must have persuaded institutional investors to get into BCH. Apart from scared people exchanging BTC for BCH.

I will HODL but this is serious.

If the price of an asset goes up 20b does not mean that 20b moved into it. U can create that price with a fe million if u wanted

True you just need to buy and sell your own stash. I think this is a mere manipulation of market. If I have a huge amount of that coin and also have a huge amount of money, I can rally the price to go up just by stirring investors greed. Once they saw movement, these people will start speculating and buy all the remaining sell order to take advantage of the current trend. This way I can be able to push the price with minimal expenses. Of course Media helps a lot too.

Hydrogen

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Quote from: Don Pedro Dinero on November 12, 2017, 12:26:27 AM

I get up and see this:

BCH has gone from around $10 billion market cap to $30 billion market cap in a couple of days. Who the hell has some spare $20 billion to pour into BCH? Buffet’s net worth is around $77 billion.

I don’t think this can only be explained to Roger Ver and Jihan Wu going all in on BCH. They must have persuaded institutional investors to get into BCH. Apart from scared people exchanging BTC for BCH.

I will HODL but this is serious.

Market cap can be a misleading statistic. If bch was worth $1 and rose to $3 that would represent near to the amount of percentage growth of a $10 billion to $30 billion market cap increase. Depending of trading volume and pricing walls that might represent impressive growth. To represent true growth there would need to be a lot of buyers to maintain a consistent market cap without significant price devaluation as the number of buyers diminishes as often happens with many alts on dumps.

That appears to be what happened with bitcoin cash. Its price peaked and value decreases as the number of buyers diminish and interest wanes.

pugman

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Holy smokes, who'd have thought bitcoin cash will even go above 1000$? That's one of the main reasons why I personally feel crypto trading is better than stock market trading. A week ago, bitcoin's domination in the whole crypto capital was around 60%(As per https://coinmarketcap.com) ,and now that bitcoin cash started rising and bitcoin started falling, it's dominance fell to 53% ,that is a 7% blow to bitcoin, which in terms of money, goodwill is a lot of worth.

stompix

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Quote from: vit05 on November 13, 2017, 12:21:04 AM

And now 8 bi disappears from BCH Cheesy

. It is funny how easy is to manipulate the market

Yeah, funny money that were never there.
The whole 20 billion number is stupid since all the volume was below 15 during the pump.
Again and for the million time, market cap is irrelevant.

Quote from: BartS on November 12, 2017, 01:14:04 PM

Quote from: Don Pedro Dinero on November 12, 2017, 12:37:23 AM

Quote from: knircky on November 12, 2017, 12:34:36 AM

Quote from: Don Pedro Dinero on November 12, 2017, 12:26:27 AM

I get up and see this:

BCH has gone from around $10 billion market cap to $30 billion market cap in a couple of days. Who the hell has some spare $20 billion to pour into BCH? Buffet’s net worth is around $77 billion.

I don’t think this can only be explained to Roger Ver and Jihan Wu going all in on BCH. They must have persuaded institutional investors to get into BCH. Apart from scared people exchanging BTC for BCH.

I will HODL but this is serious.

If the price of an asset goes up 20b does not mean that 20b moved into it. U can create that price with a fe million if u wanted

Could you explain this, please?

The market cap is the result of what people are willing to pay for the coins multiplied with the number of coins, the problem with that number is that does not reflect that billions of dollars were invested in the coin that only reflects what the potential market cap will be if every coin was bought which we know that is not the case, that is why many people prefer to look at the volume to know how much a coin is moving and as we can see while many have predicted the demise of bitcoin, bitcoin cash has a slightly lower volume in the last 24 hours but if we were to look at the volume since its creation bitcoin will have a lot more of it, that is why I’m not worried about this pump.

Far easier explanation:

I create an altcoin, 1 billion coins, it's traded at 1 cent. Market cap is worth 10 million.
Somebody decides to invest 1000$ and the price jumps to 2 cents. Market cap is now 20 million.
It has grown 10 millions with only 1000$ invested.

Now somebody decides to sell 100 coins but with no buyers cause it's a stupid coin the price drops to 0.5 cents.
Market cap has lost 15 millions with barely 100$.

khaled0111

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The attack on bitcoin is almost over and every thing is going back to normal, bitcoin price is rising again which proves that bitcoin is strong enough to deal with such attacks. Besides, many people trusted bitcoin and didn't sell.
Anyway, we can't deny the role of rumors and also media impact in controlling the cryptocurrency market.

Bardman

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Quote from: Bardman on November 12, 2017, 09:15:11 AM

Just another pump and dumb of BCH, a big one for sure. There was another when BCH hit 1k and dropped down to 200$. Now everytime BCH goes down, bitcoin goes up, eventually BCH will crash hard and it will be worth a few hundred dollars again and Bitcoin will just recover, probably alt coins as well since they are really undervalued compared to Bitcoin.

There is a ton of FUD everywhere, check bitcoin reddit for example, tons of people saying BCH is going to take over, bla bla. There is also a strong theory that says Segwit2X was never going to happen, it was planned this way. After making a lot of profit with bitcoin, they used their profits to pump BCH and this definitely seems to be the case. Most people bought Bitcoin for the fork, there is no reason for them to switch from Bitcoin to BCH. The ones who planned this, pumped BCH in order to make even more profit and now comes the dump maybe with another pump before total crash. We will see.

Well as I said, BCH is already being dumped, maybe waiting for another pump, probably not but one thing is certain, BCH seems more like a pump and dump coin than anything else. It has been like this since it started, first it was pumped to around 1k just to go down eventually to 200$ and now it was pumped again, much harder to get dumped just as hard, that's pretty much the whole history of the coin, I don't see people interested in BCH as a coin, I only see people buying it when it gets pumped and dumping it as soon as they can, sure that happens with bitcoin too but there are still a lot of people who will hold bitcoin almost no matter what. BCH is pretty much a scam, let's be honest, it's going to be worthless soon. The only thing holding it up is the name but that's about it.

Sled

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I think that is the results of the work of roger ver, he talked a lot about non sense things for bitcoin cash that it will become the next bitcoin and that resulted for having a hype in the market and since people are attracted to hype they bite that bait and they are now mostly stuck in the market of bitcoin cash and now it is falling down and the hype is gone.

groundcontrol67

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Quote from: Don Pedro Dinero on November 12, 2017, 12:26:27 AM

I get up and see this:

BCH has gone from around $10 billion market cap to $30 billion market cap in a couple of days. Who the hell has some spare $20 billion to pour into BCH? Buffet’s net worth is around $77 billion.

I don’t think this can only be explained to Roger Ver and Jihan Wu going all in on BCH. They must have persuaded institutional investors to get into BCH. Apart from scared people exchanging BTC for BCH.

I will HODL but this is serious.

Well firstly the money that has gone in to bitcoin cash has mostly come from bitcoin, secondly it does not mean $20bn has moved in to bitcoin cash, the price can be pumped with a few millions perhaps. The price will fall in time I suspect, like anything such a spike always precedes a correction.

Wesimon

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Quote from: worle1bm on November 12, 2017, 04:20:25 AM

Quote from: Don Pedro Dinero on November 12, 2017, 12:26:27 AM

I get up and see this:

BCH has gone from around $10 billion market cap to $30 billion market cap in a couple of days. Who the hell has some spare $20 billion to pour into BCH? Buffet’s net worth is around $77 billion.

I don’t think this can only be explained to Roger Ver and Jihan Wu going all in on BCH. They must have persuaded institutional investors to get into BCH. Apart from scared people exchanging BTC for BCH.

I will HODL but this is serious.

Yes I also notice that BCH market cap is increasing within a couple of days leading ETH for first time because of some exchanging their BTC for BCH which is giving a pump to total investment of BCH but this is for a few time only as first bitcoin price gonna decrease but as soon as this scene go end BTC price will be stable and BCH will crash so just HODL it

It was believed that the sudden change in price is manipulated. Probably, they have plan to make changes so that bitcoin value would be also show sudden change. It was made to make people panic and tranfer to bitcoin cash. Bitcoin cash is just a bubble, we could expect its sudden fall in the next few days and then regain bitcoin value. This are just rumors, bitcoin would remain on top. BCH could exceed etherium but not bitcoin.

vit05

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And now 8 bi disappears from BCH Cheesy

. It is funny how easy is to manipulate the market

faceoff97

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Quote from: Don Pedro Dinero on November 12, 2017, 12:26:27 AM

I get up and see this:

BCH has gone from around $10 billion market cap to $30 billion market cap in a couple of days. Who the hell has some spare $20 billion to pour into BCH? Buffet’s net worth is around $77 billion.

I don’t think this can only be explained to Roger Ver and Jihan Wu going all in on BCH. They must have persuaded institutional investors to get into BCH. Apart from scared people exchanging BTC for BCH.

I will HODL but this is serious.

I have red an article and it says that it was pre-planned and organised. This is an attempt to manipulate the value through catching the attention of majority. The sudden change in value cause people to panic and transfer their fund in bitcoin cash. Once the people behind this have done their intention, the value will once again back to normal. The same way BCH have pump it may also dump in sudden. In few days, bitcoin will once again regain its value.

honeyb0y

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This is a clear manipulation on prices made by people who will benefit from it or the whales. Some people who supported the segwit2x fork but was frustrated because of it's cancellation opted to go to BCH to recover their losses. Don't get fooled by this person they will eventually sell their BCH and prices will go down.

Scallywag

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Yeah i just think this is a group of whales making loads of money .
This isn't because btc holders went to bch and that is why i think it will be unsustainable .

Tol9n

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Quote from: PrinceCaspian on November 12, 2017, 01:18:50 PM

That is how you will define the word "hype" because of the hype and the FOMO of the people in the cryptocurrency market, the growth of the market capitalization of the bitcoin cash is being fasten and right now a lot of people are still hoping to make profits in bitcoin cash by jumping into the market of bitcoin cash.

I do not believe that people suddenly turned their attention to Bitcoin Cash and that's why his price sharply went up. I think that this pump is done specially

Hydrogen

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Quote from: Samarkand on November 12, 2017, 07:51:34 AM

The majority of the trading volume is taking place at Bithumb (Korean exchange).
Therefore the whole price discovery is highly manipulated, because Bithumb
offers account without fees and vouchers that enable zero fee trading.

This enables rampant wash trading by allowing you to buy and sell your own orders without
incurring any fees!

This is the type of information which seems as if it should be publicized more.

In a way this might be described as a contest of philosophy. On one side there is bitcoin which has a design philosophy of producing long term value. On the other side there is bitcoin cash which has a design philosophy of using pump and dump market manipulation to produce short term profits at the expense of long term value.

Ethereum may have tried to exceed bitcoin's long term value by doing something similar earlier this year. Will history repeat itself?

Topic: WTF? $20.000.000.000 seem to have been poured into BCH in a couple of days (Read 1497 times)