It's official: we will have 2 bitcoins moving forward
A few days ago ViaBTC announced futures trading for Bitcoincash. I think I first saw it from a post on steemit. It was also mentioned that this has happened before on bitfnex and there is nothing to be alarmed. At that point of time I thought how interesting it is that you can sell something that you don't have. And ppl do speculate on such things. However, just when I m still figuring out what's bitcoincash. I saw a video on YouTube saying bitcoincash will be here to stay. Check it out at www.bitcoincash.org
Bitcoin will be officially hard forking in 1august and yes we will see 2 bitcoins after that. So what's the implication? I thought of a few scenarios:
First, bitcoincash and the original bitcoin co exist happily with either one having a majority mining power than the other resulting in huge price difference just like eth and etc.
Second, bitcoincash or BCC launches but dies off after some time because majority still supports original BTC and price of BCC becomes worthless and fail to cause any harm. BTC prevails and won the war.
Third, BCC overtake BTC as the majority miners are won over as more and more exchanges supports it with. Dev jump ship from BTC and huge confusion for the users as what is the "real" bitcoin. BTC slowly become worthless and everyone thinks BCC is the true bitcoin.
Fourth, Due to FUD everyone dumps BTC n BCC and price drops to worthless value. Another altcoin rise to replace them all together and we move on. Slowly everyone forgets about BTC just like how people forgets about Nokia.
Fifth, the people behind BCC decides to pull out from the hardfork, which is unlikely now, and the reason for all these is to create FUD so that the whales can accumulate more cheap BTC.
There are some many different possible scenarios and some many question marks. I would like to hear your views on what you think. Please leave some comments so that we can discuss. Time is ticking as 1aug is closing up as we speak.
Ps. Remember to keep your BTC in a wallet like exodus or hardware wallet where u control your own private keys. Keeping on exchange is as good as giving up your rights to the coins when it hardfork. And also try not to do any transfer of BTC unnecessarily before the dust is settled so as to avoid losing your BTC or BCC.
See you at the comments section. Cheers!
My prediction: The Segwit coin might get an early pump but will quickly die off since no one will want to pay the higher fees.
You mean BTC or BCC??? Segwit will be in all bitcoin from now on be it BTC BCC BCU or whichever fork that happens. And with segwit its gonna bring down the fees with faster transaction. Thats why segwit implemented. Do correct me if I m wrong. Thanks.
Bitcoin Cash does not include segwit. If Bitcoin Cash gets over 51% mining power, segwit will die off fast.
I don't intend to use bitcoin cash, it will defeat the purpose of being decentralized. With that being said, I do want to take advantage of the fork and get my bitcoin cash.
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They are not going to fork BTC on Aug. 1st because they already have with BCC, am I the only one that sees the fraud here? If you buy a digital apple from me and I replicate it before giving it to you have I given you anything that I do not have? No, I still have a digital apple, now you do too, but I also now got your money. I am not saying BCC is not giving away free money, I am saying BCC should get so inflated with extra BCC that the price should go way down after Aug. 1st from inflation and people selling off their free altcoins. Here is what an honest token looks like Uetoken.com
haha I saw this useless ethereum token before. Anyway if enough miners and people support BCC it will have its value just like when ETH forks and create ETC, ETC also retain some value. However I am not supportive of BCC and feel that its destroying the BTC value because of some greedy group of people.