Bitcoin Cash Doubles In Two Days Since SegNOT2x Confirmed
The snakes who pass themselves off as Bitcoin developers may have overplayed their hand - at least, if the last two days of market action are any indication.
They probably expected a degree of price retracement when they renigged on the New-York Agreement guaranteeing double-size blocks (and, therefore, roughly twice the speed/half the fees). However, I suspect they were not looking to double the market cap of their main competitor overnight with their power-grab over block-size.
If you don't understand the difference between Bitcoin and Bitcoin Cash (aka real Bitcoin), allow this clever Reddit image to summarize it in seconds:
Feel free to ask any additional questions in the comments and I'll try to explain further.
I won't tell you to buy now after such a doubling...but if you've been following me for months, you should have already.
Unless, you like, totally (unfathomably, still) trust Blockstream as your counterparty.
PS - Proof of putting my money in my own mouth...er, wait, how's that go again?
If you have any additions or errata for this post, please let me know! I will see that they are voted to the top of the comments, and will make the appropriate edits (if possible).
We also have a Radio Station! (click me)
...and a 5000+ active user Discord Chat Server! (click me)
Sources: Reddit, r/BTC, Bittrex
Copyright: The Simpsons, PBS
i agree with your thoughts, well BCH 8mb block size surely gives BCH an edge over bitcoin and we can clearly see so many uncofirmed trx in bitcoin network but in case of BCH it's perfectly smooth and that dead fork also puts bad impression on bitcoin and the momentum is shifting back on other crypto and especially on BCH in current circumstances we might see more gains in BCH price, thanks for sharing the very nice information with us, Stay awesome.
Bitcoin cash is surging due to the division in the bitcoin community. Due to the abortion of SwgWit2x upgrade which was supposed to improve the bitcoin blockchain and take care of issues like bitcoin scaling and high transaction fees, many bitcoin holders have started looking for alternatives (with bitcoin cash being the obvious choice).
I won't be surprised if that hot money moves on to something else very quickly, however!
Bitcoin cash fork is scheduled for 13th November (in two days time). I'm sure bitcoin cash will continue surging upwards at least until the fork. Some other cryptocurrencies that bitcoin holders are quickly dropping bitcoin for include Litecoin, Ethereum classic, Monero and EOS.
Even Bitcoin.com declare that they would no longer support bitcoin, but rather move to support bitcoin cash. See the public announcement from bitcoin.com: https://www.bitcoin.com/public-service-announcement
https://steemit.com/btc/@i-am-mark/bitcoin-cash-is-king-segwit2x-destroys-btc-confidence
Bitcoin CASH is KING - SegWit2x destroys BTC confidence.
4 hours ago
i-am-mark 38 in btc
WOW, check the charts, as of this morning (11-11) 5 and 1/2 billion $$$ have moved out of BTC and 4.5 billion $$$ have gone into BCH (those are 24hour volumes). At the time of this writing BCH has doubled in value in the last 24 hours.
The Bitcoin (classic) community has shown its lack of decentralization and lack of consensus on a game plan. Fortunately Ethereum and BCH have solid communities that are agreeing as to where they are going and what their goals are.
Ethereum is proving itself to be a STABLE coin/currency even though it was not designed to be a currency. It has maintained a value near $300 for several months now and in my eyes is showing itself to be "The Rock". However, in the future EOS is trying to develop and even better platform for similar goals as stated by the ETH community.
BCH community is proving to be the "Go To" Bitcoin product,,, with fast transaction at low costs. It would appear that BCH is now showing itself to be the NEW KING of the bitcoin brand.
Bitcoin Cash (BCH)
$1143.35 (39.51%)
It will come as no surprise that I mostly agree with you. I love EOS too.
Anything could happen going forward.
Maybe BCH will go ahead BTC in time, as the mining difficulty will rise and fees for BTC will grow.
This is very good information for me. Thank you for sharing my friends. I have not been able to ask any questions or additions. Because I still have more to learn.
Do you think BCH will rise higher than BTC eventually
It's definitely possible. I think it's more likely than most people probably think, but still not exactly likely. It really depends on what BTC does going forward, most likely.
I believe they are going to swap places,,, and BTC will trade at 1/10 of BCH.
Far stranger things have happened.
yes, @lexiconical ,,, i support your bitcoin post.your bitcoin idea is great.
Do you just change the word "bitcoin" on this cut and paste for each post?
Maybe is this a bot?
Frankly, I'm not sure yet. The response implies human interaction, perhaps this is a language barrier.
You could assume that, but we have Google Translate these days and many other translation means. I don't know for sure, I can just suspect it, eventually you need some basic english knowlege to make an account and make some comments and posts
Etc also has almost doubled in value in a week or so.
Is etc an improvement over ethereum?
And if it I think it can also shoot up like bch
Good news this weekend, at least will be a consideration for the next business step in bitcoin, buy or sale
It's times like this I'm glad I employed the advanced HODLing technique known as laziness (AKA, I never sold my free BCH coins after receiving them).