I’m trying to understand if I should buy bitcoincash since it is still cheap than the original bitcoin and a lot of exchange supports it.
It’s an opportunistic pump and dump altcoin using bitcoin’s name as marketing. (A true blue, old fashioned shitcoin for scamming noobs)
This isn’t the first time, and it won’t be the last.
For other, identical examples of this tactic, see the price and trade volume of:
BitcoinDark
BitcoinFast
Bitcoin Black
BitcoinScrypt
Clams
C-Bit
Bitcoin Plus
Bitcoin Planet
BitcoinTX
Bytecoin
Bitcore
Qubitcoin
Debitcoin
AntiBitcoin
Bitcoin21
LiteBitcoin
Bitcoin Unlimited
First Bitcoin
The reason the price is so high right now is that everyone at the time of the fork owns the same amount as they owned bitcoin, so bag holders are dumping it for free money and uninformed noobs are buying it thinking it’s actually bitcoin.
Just use your money to buy real bitcoin instead. Don’t get scammed.
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Usually the best time to buy is when no-one else knows about it, like when some guys started selling books out of his garage on an unknown website called amazon. Or two clowns who took a free basic interpreter, ported it to the 8080 cpu and sold it to a company they found on popular mechanics.
AI, robotics and 5G stuff IMHO
yeah except those things are actual products.
Bitcoin cash is an unregistered security with trademark issues.
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Yea but bitcoin is backed up by bits of…actually I have no idea what.
It’s backed up by energy. You have to burn a massive amount of energy to maintain and secure the network. That amount of electricity never goes down, because once you burn it, there’s no way to get it back.
Every bitcoin mined is proofed by gigawatts of electricity, and every transaction is secured by the same.
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Oh, also forgot to mention there’s already evidence of predatory market manipulation:
This is an interesting one, Bitcoin Cash could just fade away and disappear, or if as it’s creators believe Bitcoin itself is too flawed to keep going forward (slow, unreliable, & merchants stop supporting it) then Bitcoin Cash stands ready to fill the gap.
I have a small amount of Bitcoin and, I suppose, the same now in Bitcoin Cash. I’m happy with the theories that nothing will topple Bitcoin, and that the true value per Bitcoin will one day be around $1 million.
That will have proved to be a worthwhile investment if it happens 
We’ve seen this exact thing in the list of altcoins I mentioned in my first reply. The first 17 parallel schemes didn’t work long term, there’s no reason to think this one will either. If you have bitcoin, you should dump your cash for the free money.
Literally the only difference between BCash and Clams, C-Bit, other splitcoins is that this round has more driven propagandists.
@tkoham
I’ve had the same argument with a buddy of mine regarding bitcoin cash, if you have an other evidence to convince him away from this, I’m all ears. I’ve been looking for solid backing to my argument besides ‘I’ve been involved with bitcoin for a while’
Yep, this time it’s hit the more media outlets/msm.
- Ask why Clams and C-Bit, other chainsplit altcoins with similar stated goals didn’t become the new bitcoin.
- Ask why the only exchanges accepting BCC trades day 1 are preventing price discovery by preventing withdrawals and not providing support for shorts
- Ask why the average fees are higher on the BCash chain since the split than real bitcoin despite less use and “better scaling”
- Ask what possible advantage 8 MB blocks conveys over segwit
- point out that segwit is a bugfix for transaction malleability as much as it is a scaling solution, and that even if they wanted to increase the blocksize, removing segwit is a step backwards and degrades chain and tx security
- Ask why bcash has done nothing but lose value since actual market discovery started
this is JV level shit
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That depends on where they have their online wallets. Coinbase for instance gave everyone as much BCC as they had BTC at the time of the fork. My wallet on the other hand is at Blockchain, I checked it earlier today and I only had BTC on there. Guess I missed out on some free money.
If you’re stupid enough to keep your balance on exchanges or webwallets, then you deserve to lose your splitcoins.
Anyone using the common best practice of keeping their BTC on a deterministic, hardware, full, or SPV wallet has both. If your exchange took yours from you, then that’s on you. You had that bcash, you just let them take it from you.
Even if you kept it on a shitty web wallet or exchange initially, you had weeks upon weeks to move it.
If you don’t have the private keys to “your” wallet, it isn’t your wallet, or your bitcoin. Full stop.
Coinbase originally said they wouldn’t support it. But they just sent a new email saying they eventually would by the new year. I think that gives it a little more staying power, at least in the short term. And of course you have both btc and btc cash for any you had in your wallet prior to the fork.
The reason they’re doing this is to:
A) avoid class actions if there’s a pump n’ dump
B) support greater fools when the bags get heavy later on
C) sort out any liquidity problems they might have because of the chain split and short options.
They aren’t doing it because they think a coin is a winner. for an exchange, all coins people will pay to trade on their platforms are winners.
Exchange support is a very poor metric of the viability of a coin, because exchanges are pretty much guaranteed profit by adding new ones.
More like Bitcoin Crash
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So, if you had your own wallet, and a coin forks like btc bcc
How and where do you get your bcc?
download the Bcash version of your wallet (or a wallet that uses the same SPV tech) and use your seed or private key to “restore” it. you then have access to any coins you had before the split in splitcoin.
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