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RE: Bitcoin Cash - Why I think it's going to $1500+ / BCC Mining Support @ 48% of total HashPower!

in #bitcoin7 years ago (edited)

You seem like a good guy to know; and I like your style.
Great reporting; please keep us informed.

I recommend, since you are such a new user; invest in SP, and let us know more about you, to enhance your reputation quickly.

Please explain to me one thing; I have mined for LTC in the past, I understand the basics. But why would it take this long, for miners to "decide and find their position"?

I had assumed they would make up their mind some time ago?

Cheers!
Surfyogi

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Thanks for the kind words and upvote, let me try to explain;

First of all, I need to explain the tug-of-war type of situation we are witnessing here.

The miners have to decide which Coin they prefer to mine, and some have already decided, but some are still changing their mind.

For example, many people do not know about the blatant corruption with Blockstream and those people are slowly learning about the whole thing, those people may well switch over if they are mining BTC currently.

There are also those who understand the block size debate and that Satoshi's ideal way forward is far more in-line with what BCC is doing, those people have seemingly already made up their mind and are mining BCC.

What we witnessed is a massive sell off and price dump of BCC, which were people just looking for the quick cash. That alone, and then combined with things like Coinbase and others refusing to acknowledge BCC, have caused people's support in BCC to wane in general.

The people's support is not directly in line with the miner's support, since most people obviously do not know the full situation.

In my opinion, either of two things could happen here; or perhaps something unforseen. We are truly witnessing history in the making.

Possibility 1) Miners will slowly convert to BCC because price is continually going up and they realize BCC is the "true Bitcoin"

Possibility #2) Miners will slowly convert back to Bitcoin because BCC seems hopeless as the price does not go up or fails to go up past a certain level.

It's going to be constant battle and miners can simply switch pools (which takes about 5 seconds) to change from mining BTC to BCC. I personally think many people mining BCC already will hold true to the promise, and perhaps places like Coinbase will rethink the situation.

I am new to the social media platform Steemit, I have been making quality comments on articles and posts. Will this help my reputation? @briandenver As of August 1 I'm a level 37, whatever that means.

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