Bitcoin Hits New Combined All-Time High Above $3,000 After Bitcoin Fork
Many people considered today to be the most important day for bitcoin since its creation in 2009.
It was the first serious fork of the bitcoin chain into two different coins. Many people, including ourselves, were preparing for major volatility. And some people, like Mike Adams, said it was the death of bitcoin.
Well, it wasn’t. And, it wasn’t even very volatile.
In fact, bitcoin holders saw the total value of their two separate bitcoins reach a new all-time high today!
At the time of this writing, bitcoin is trading at $2,735.
And the newly minted Bitcoin Cash coin is trading at $380.
Bitcoin and Bitcoin Cash, combined, then have a value of $3,115 which is an all-time high for bitcoin which hit a high of $3,018.54 on June 11th.
There was a lot to discuss about what happened today and I had the pleasure of being on Press For Truth with Dan Dicks just hours after the fork to discuss all the repercussions.
You can see it all here:
While today was a breeze and resulted in bitcoiners gaining even more wealth, there are a lot of potentially nefarious plots going on which could have massive repercussions for those holding bitcoin.
I’ll be laying out what is going on to TDV subscribers in the next issue of our newsletter going out this weekend. To make sure you get that information first, you can subscribe HERE.
I think that BCC will soar in the coming week, watch out!
Good chance you are right. I read tonight almost 50% of bitcoin blockchain has moved to BCC.
Wow, what a day!
Blockchains don't move. There are now two blockchains that share a common history. What is moving is the HASHPOWER: the computers that add blocks to the blockchain are moving more and more to hashing the Bitcoin Cash blockchain and less and less on the Segwit chain. Bitcoin Cash could survive with minority hashpower because of big blocks.
Segwit Bitcoin will quickly turn to dust if it loses too much hashpower because it won't be able to process transactions with the 1MB limit.
Good chance of it. But don't forget it's fairly new and volatile. patience is a virtue. Followed you and upvoted. Feel free to follow back. Cheers
What happens if the split becomes 60% to 40%? Will the lower percentage lose value as the higher percentage gain value?
To avoid confusion I think its wise to start refering to Bitcoin Cash with it's official "ticker", which is BCH.
BCC is already taken by Bitconnect and also used for Bitcoin Core i believe.
Good catch...Thanks!
Well stated and true you are.
Anything is possible at this point....I cant wait to start taking trades on BCC :)
It looks like the majority of exchanges actually are beginning to accept Bitcoin Cash. Even those exchanges like Bitcoin who said they would not support Bitcoin Cash are now beginning to accept Bitcoin Cash.
http://www.FlippyCoin.com is the #1 Cryptocurrency Exchange!
When bitcoin rises does that also mean this digital currency will go up? Steemit value might increase?
I agree, but having said that, the central banks will be watching it's popularity (thus a threat to them). Central Banks aren't going to simply sit by and cry in their cups of coffee while crypto's railroad them out of existence.
Just something to think about!
upvoted
The banks are going to have a tough time stopping Bitcoin Cash. I expect draconian laws to pop up that ban it, and probably arrests to scare people into compliance.
You might very well be right, @thesaurus. My own humble opinion is that I think it will slowly keep going down for another couple of weeks before it settles. People are still too new to it and too nervous to pick it up before they see it evening out. Once it does, that's when we'll see what it can really do.
Thanks for sharing Jeff!
Positive way of looking at it! Really shocked that Bitcoin didn't drop straight after we all got our Bitcoin Cash!
Very much good news, if this trends is going on then all of the btc holders will be benefited most. Any way thanks for sharing such a valuable information. If you don't mind please give a visit on my post, so that it makes me feel great for your sweet support.
My hope is that bch will take a piece out of the altcoin market. There are a lot of guys saying bitcoin's price is too high to invest, even if it doesnt make a lot of sense.
Thanks for the info, i have transferred my BTC from the exchange
Thanks for sharing
hahahahahaha best part is the coinbase punk!
Its true its shit!
Thanks for the update!
When Ethereum forked last year into Ethereum and Ethereum Classic, I missed my chance to get both. I had sold my ETH and transferred to BTC. I didn't learn... :(
This time, I transferred my BTC to ETH before the hard fork. Could have gotten some free BCC. Well... Going to have to wait for the next one.