Bitcoin Cash Skyrockets... Is There Something To It?
Today was mostly a down day for the cryptocurrencies with one big exception.
Bitcoin Cash is currently up 72% to over $500 and even hit a high of $567.76 earlier today.
The great majority of information, analysis, and recommendations aren’t featured here in our daily blogs and videos. That info is, of course, saved for our paying subscribers.
And we’ve been telling subscribers to HODL on to their Bitcoin Cash since it forked on August 1st. In fact, we told them of a conspiracy theory that I think may be possibly occurring which could see Bitcoin Cash be the only bitcoin left standing at the end of the day.
One subscriber, in our private Facebook group, even suggested that my theory was such a bombshell that I shouldn’t keep it private.
Well, for the time being we are still keeping it private. But you can read it immediately by signing up HERE. It was featured in the August Issue of our twice-monthly newsletter published on August 9th.
There is a lot of propaganda, censorship, infighting, attacks, and misinformation being thrown about with regard to both Bitcoin and Bitcoin Cash. Most people have no idea what kind of war is actually going on. That’s why it pays to subscribe to TDV where we have been covering cryptocurrencies since bitcoin was $3 in 2011.
There surely will be many books written about everything going on today in the Bitcoin space. And, we love it. It’s the free market in action. And a lot of big players are trying to manipulate it to their advantage.
But, the central banks can’t control it and the government can’t regulate it… try as they might! That is what is so beautiful about bitcoin.
If you currently own Bitcoin you may want to make sure you get access to all our analysis which you can’t get anywhere else by subscribing HERE.
And if you still haven’t gotten into Bitcoin, Bitcoin Cash could end up being your second chance. But, start by watching our free four-video Bitcoin webinar HERE. If you accept our offer at the end of the video series we’ll send you your first $50 in bitcoin directly from my own private wallet.
We began that video webinar and $50 in bitcoin offer near the start of the year and many people who accepted that offer now have bitcoin worth over $200 and a stake in Bitcoin Cash as well.
The cryptocurrency space is wacky, wild and often incredibly lucrative. What else would you expect from a completely free market (r)evolution in money, banking and the internet itself.
There are still a few naysayers out there who think the whole thing is a scam… but there is always going to be a few people who miss the point entirely. And, yes, we could even see things like Bitcoin get railroaded, sidetracked and manipulated along the way.
But that’s not because it is all a big scam. It’s because the stakes for governments and central banks are bigger than anything else in the world to try to stop this (r)evolution.
They won’t. They can’t. But it is going to be interesting as they try… and hopefully die!
Ok, since I didn't see anyone mentions it:
And then there's question - why BCash doesn't want SegWit? I know they like big blocks, but why not big blocks + segwit?
There's IMO only one answer - BCash want to use the Asics Boost. With Asics Boost - just one miner will be controlling the whole mining. Talk about Satoshi vision... Those people do not risk their wealth just to fix something that is not broken because of ideals. They do this because of inflated ego and money.
The only way for BCash to win this war is to destroy Bitcoin.
It's called Bitcoin Cash... I'm not an expert but Bitcoin lost traction not implementing larger block size sooner... Peer to peer cash should remain just that. Don't need bells and whistles...
Thanks, more insightful than the actual post.
BCash will kill his own mother?
It's seems not possible for me,
If BCash kill himself holders gifted with free BCash will all be sad too.
Me in this conflict I still got coins in the two sides anyway. ^^
It will probably end up like ether classic.. a torn up network.
Things will get messy in the future.. were going to have bitcoin.. bitcoin dark.. bitcoin lite.. bitcoin cash.. not to mention all the altcoins..
Im sure we can throw some more in there over the next few years..
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I think there's something going on too. People are going to be very surprised at what may happen in the coming months. I'd be watching (both) bitcoin prices and fluctuations very carefully for some time. For those who sold out of their bitcoin cash... wouldn't it be sad if they would up with half the value of their btc or less? Don't say I (or Jeff) didn't tell you so!
See my analysis:
The Bitcoin crash is imminent. Where to find safety?
Bitcoin Cash is right on the edge of becoming more profitable to mine. This could be a wild weekend! People who sold their Bitcoin Cash for Bitcoin might get left holding nothing-burger.
currently at 550! I am excited to see what happens!
I find it hard to believe the big investors with hundreds of millions or even billions will just let their money disappear to nothing ;)
Rich does not always equal smart - especially when our primary monetary system is so rigged.
whales had a long enough accumulation period at 300
Don't forget many are still waiting till they get their free BCH for dumping...
97% unknown miners lol
@dollarvigilante Why no video?
I bought a bunch at $300, but I was waiting for it to go lower to buy more...damn. Life of a cypto-trader is full of regrets.
The trick is to not think about it lol.. otherwise you will go crazy. We all could have bought bitcoin at a few dollars.. woulda coulda shoulda :)
Thanks for sharing
Telling people to invest in an alt coin that's being pumped up by fake accounts all over the internet... no thanks. This is just one massive market manipulation pump and dump to take peoples hard earned money out of their hands. I don't believe for a second you would invest into this for ideological reasons, it's just like those scammers that pump and dump alt coins on youtube though this is occurring on a much larger scale.
Iam amazed by the sudden rise of bitcoin cash. We shall have to wait and see how this one turns out but I'm still backing btc due to its first mover advantage and network effects!
something to consider is how the proof-of-work system is essentially a zero-sum game.
Bitcoin cash is the current only contender to the bitcoin name.
Except Bitcoin cash has a secret weapon, the emergency difficulty adjustment.
If a median period of 12 hours between blocks being mined occurs, each proceeding block up to 6 blocks reduces difficulty by 20%.
Basically, bitcoin cash chain cannot die if it loses hash rate.
Bitcoin legacy can. Because transactions would go from 10 min confirmations to 20 min... to 30 min... to hours.. and the mempool would also continue to grow exponentially. Fees would also shoot up to absurd levels (more ridiculous than the current $11).
So if you were to see a flippening, would you keep your btc or convert it?
I don't think the infrastructure is fully there yet to support the move,but by november this could definitely be a reality.
Considering they are BOTH bitcoin, it's not that crazy to see the one with more utility (bitcoin cash) ending up as the dominant chain. 8x the transaction capacity, and 200-300% lower fees.
Wouldnt segwit helpin legacy bitcoin?
You're on the right track.
Whether it be speculation driving demand or utility value, is of question.
I'm not amazed at all. Read through my blog posts.
This is what's happening. Bitcoin Cash is almost as profitable to mine as Bitcoin Segwit. You can track the progress at this website. When we hit "profit parity," which we did for a bit today, there is no monetary advantage for miners to support Segwit.
https://cash.coin.dance/blocks/profitability
The Segwit faction has hijacked the Bitcoin name. There are likely to be some miner holdouts, but I believe that miners will start pouring over into Bitcoin Cash soon, and Bitcoin Segwit is likely to go into a "chain death spiral" as more miners leave for BCH, bogging down BTC and making it nearly impossible for them to mine enough blocks to reach the next difficulty adjustment. Here's a great blog that I found tonight that shares this information:
http://bitcoinandtheblockchain.blogspot.ch/
Do your research, the information is out there already and you don't have to wait for anyone's private stash of knowledge.
Totally agree. Great blog link,thanks!
You are welcome. Spread the word....there's a huge disinformation and censorship campaign going on as corporate interests try to centralize Bitcoin under their command. This is a true test for Satoshi's vision and I believe that the people will recognize the worthy coin and throw support behind that, corporations be damned!
I bought a bunch at $300 and then was waiting for a good dip before this weekend to buy more, but I guess I'm going to be paying the inflated rate today, :( I'm going all in Bitcoin Cash. :D
Same here, took advantage of those prices myself and then went almost all in last night on Bitcoin Cash. Had to keep a bitcoin for posterity.
I think we're starting to see the rush to the exit with Bitcoin already. Mempool for Segwit coin is NOT looking good.
On the rise for sure. Any idea what that huge spike in the mempool in late May/early June was?
Boy, it sure pays to do your due diligence in this space and keep your finger on the pulse.
Only 68 blocks to go. 60/40 hashpower split. I can't believe people are not talking more about this. BTC could grind to a halt today.
You've got the X-factor!
Still going to be a steal in the long run at these prices!!
Wow, I wish i would have held on to my btc, a while back when it raised a fair jump and then i sold it off with worry it would go back down. Anyway great post, your my favourite source for steemit/btc related info.
Great Post! You will be remembered as the ONLY major player warning people to hold their Bitcoin Cash.
The people I feel bad for are the ones who have bought Core Bitcoin since Aug 1 and never heard about Bitcoin Cash - they could lose everything. Maybe we should start a charity fund for them?