You are viewing a single comment's thread from:
RE: Bitcoin Hits New Combined All-Time High Above $3,000 After Bitcoin Fork
You can't combine the two. "Combined all time high"... give me a break. BTC is BTC. BCC is BCC. Separate.
Hence, BTC is approaching it's ATH and may exceed it.
Yes you can - what he said is correct if you hold both BTC and BCC you can sell both for USD and you will have more USD today at current prices than holding BTC alone. Very simple and true. So you can sell the combined two into one pile of good old $$$ cash.
They are different coins, if millions of bitcoin can just be created out of thin air and then sold for dollars then how is crypto better than fiat? This isn't good for crypto's image in the long run.
They are different coins yes. And note that Bitcoin Cash is trading at around 15% or so of Bitcoin. The price is still based on a proof of work in the mining of bitcoin cash and the perceived network value. Ultimately it what the market bears and what people are willing to pay per coin... same as BTC.
This same thing happens in the stock market every week. Companies spin off from other companies - forming separate companies. New companies go public but overall the market as a whole grows. New coins are being added every week through ICO's or in this case a hardfork. I don't see how this is bad for crypto's image. Clearly people are putting money into cryptos and there is a growing interest -- all good.
How is it better than fiat you ask? - you can search other posts - that should be clear if you are in cryptos - the pros and cons...
In the video above he outlines many positives as well..
@sky77, your logic is correct; BUT that is only assuming Bitcoin holders got their "free" BCC when the fork hit. If you didn't, then the combined value is completely irrelevant.
If you buy Bitcoin today, the BCC value doesn't matter. Why? Because you don't get a free BCC by buying BTC today - that has passed.
If you bought BTC last week and didn't transfer to an exchange that would honor the split, (e.g. Trezor wallet or Via BTC) then you still only have 1 BTC worth around $2700. Period.
To combine the two today for a "total value" is irresponsible and misleading because that assumes they are linked, which they aren't (they forked....)
When Etheruem forked last year, no one said "combined value". And when ETH value is referenced today, no one adds the value of ETC. Same will go for BTC and BCC. They are separate, independent and mutually exclusive. To say anything otherwise is incorrect.
@bitbybit, this is all true, and I agree except in the judgement in this context of calling it irresponsible. Yes and many (self included) have communicated exactly this to get BTC off the exchanges into a hardware wallet or one of the exchanges supporting BCC (such as ViaBTC) prior to the fork. To those informed this was clear before and after the fork, but I guess you can argue in defense of those who are uninformed about how the fork works.