RE: Coinbase And Bitstamp Will Not Support BCC - My Thoughts On The Situation
I completely agree with your sentiment. BCC will derive any of its value from association with BTC and BTC will suffer. Its extremely unlikely that both will be sucessful longer term. There is no new use case for BCC and it is just basically saying it is a better version of BTC. However, BTC has first mover advantage, which is also why it is so far ahead in terms of capitalisation, compared to other alts. The only real world dealings with crypto are via BTC and whilst I dont think it will continue like this indefinately, it will in the near term and that gives BTC a major advantage.
I expect either BCC to crash through the floor as everyone sells their 'free' coins, or for it to stumble along for 6months or so, slowly losing value until it eventually dies. This is not a comment on the standard of the product, rather on the economics of the situation!
I think it is a mone grab by ViaBTC that will blow up in their face.
Once everyone sell off their Bitcoin, its value will be near zero
which unfortunately might drag down the price of BTC
But BCC will survive for 6 months if only as leverage to make sure the 2x part of Segwit2x get implemented
I'm beginning to think you are right. I hope it does not damage
What a slap in the face to their customers. They are saying point blank "we will take all new coins you should get August 1st" or at least that's what it sounds like. These are exchanges we should never consider doing business with again. Financially unforgivable. Shame on you guys!
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I'm not sure I agree. For example, an exchange that changes bitcoin to fiat would have to implement new wallets, processes and change its way of operation to habdle new coins, of which this is. It will open them up to more risk etc, all for a coin they may well thinknis going to tank and disappear. If BCC becomes dominant (unlikely in my view) then I'm sure they will be forced to start trading it.
For now, people should not be keeping coins in exchanges anyway, so it's a non issue. After 1 Aug if you want to exchange your BCC coins, just transfer to an exchange that will accept them and sell. No issue!
I think you are right. Excellent points.