Cryptos Aren't A Bubble, Bitcoin Is Just Getting Started
The world of cryptocurrencies has never been more exciting. What we're witnessing now with the new bitcoin spinoff is nothing less than value creation by magic and faith.
The new currency goes by many names. The official name is bitcoin cash and some brokers are listing it as BCC and some BCH. It's also received the nickname Bcash. Personally, I think BitCash would be very fitting.
Whatever you call it, the value of this new network has gone from 0 to more than $12 Billion, back to $5 Billion, and now floating somewhere in the middle.
Any asset is worth exactly what somebody is willing to pay for it. For now, people are willing to pay about $473 per coin, which some are seeing as a discount to what the original BTC is trading for.
However, even though the market is giving it a suddenly high valuation, the mining community is reluctant to turn over their hashpower. This is far from over.
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