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RE: Hardfork Successful - Here Is What Happened and Still To Happen
"However it is still going to impact our markets and throw things for the loop over the next few days." > I'd wager at least a few weeks..
Also, despite Bitcoin Cash's ultimate fate, I read a post saying it will be around for a long time since there will be a good amount of people with BTC that will just hold on to it for a while (since all of us BTC holders have it now by default).
One last thing - If it does replace the current BTC, which is definitely possible, I think the transition would take a looong time since Bitcoin (classic) is so popular.
Good points, just like with any new coin they hang around for a while even if market value is low on them as long as it is being mined and traded it will stick around. There is a fully dedicated exchange to BCC along with other support and 1% mining power of bitcoin is no laughing matter that is still a huge amount of processing power being pushed and more could still follow. For sure a long processes as to what we are seeing so far today. Thank you for your valued input appreciate it!
Absolutely, agreed. Even if BCC had absolutely nothing going for it besides its name, just the very fact that it split off from the all-powerful BTC means that everyone knows about it (and as I commented above, has it already). The next few weeks-months are going to a VERY interesting time for Bitcoin, and by association all cryptos since they generally follow the up / down trend of Bitcoin.
I wager it will take months. I don't believe that BCC will take over BTC and BCC isn't going anywhere. Let's take a look at other currencies such as ETH and ETC. ETC came out, I believe it was worth something around a dollar and now it's approximately $13.00.
BTC is the largest and most well known currency. Many people and corporations are throwing fiat at it. I even read about Mark Cuban "investing". As BTC has the largest volume which supports the use and trade between people.
True but this is almost the opposite of what happened with ETH. ETH split based on the developers ETH is actually the new updated version while Ethereum Classic is the old chain. The old chain is worth about $13 and the new updated version $220.
Bitcoin (classic) per say has a higher value but its a old block chain it has flaws in which BCC is trying to fix. It needs to be fixed but it needs to retain the name as well as have the support. It just depends on when and what coin that is going to happen with. It very well might not be ever and turn into a massive mess.
Yes, all speculation at this point on the turning point of this new currency. I doubt that either bcc or btc will stop being utilizing. Thank you for engaging, I appreciate your thoughts!