Predictions on where bitcoin will land

[MrGray]

What is the suggested route to take to claim BCC having BTC on Exodus which was withdrawn from Luno before the fork ? I can't use Bitmain wallet and others that need to sync the blockchain, I need something similar to Jaxx or Exodus that do not copy the blockchain.

Jaxx is working on BCH support. So are many of the other popular wallets. I'd wait until they've done that and there are no major issues.

 

[Fulcrum29]

I see it rather strange how there has been two tickers assigned to Bitcoin Cash, namely BCC and BCH. Bitcoin (BTC) is actually assigned to XBT in accordance with ISO 4217 where the X indicates a non-national currency which in layman terms can be said to be an independent currency.

Groups assigned BCH to Bitcoin Cash due to its shortened name, Bcash (BCH).

Exchanges like Kraken operates in accordance with ISO codes which is independently audited.

 

[backstreetboy]

I see it rather strange how there has been two tickers assigned to Bitcoin Cash, namely BCC and BCH. Bitcoin (BTC) is actually assigned to XBT in accordance with ISO 4217 where the X indicates a non-national currency which in layman terms can be said to be an independent currency.

Groups assigned BCH to Bitcoin Cash due to its shortened name, Bcash (BCH).

Exchanges like Kraken operates in accordance with ISO codes which is independently audited.

https://www.bitcoincash.org/

Recommended ticker symbol: BCC

 

[MrGray]

I see it rather strange how there has been two tickers assigned to Bitcoin Cash, namely BCC and BCH. Bitcoin (BTC) is actually assigned to XBT in accordance with ISO 4217 where the X indicates a non-national currency which in layman terms can be said to be an independent currency.

Groups assigned BCH to Bitcoin Cash due to its shortened name, Bcash (BCH).

Exchanges like Kraken operates in accordance with ISO codes which is independently audited.

There weren't two tickets assigned. BCC was already in use so why Bitcoin Cash chose it is a mystery. It forced exchanges that already listed BCC to use a different ticker. And as for ISO conventions for currency tickers, this is kind of a different planet to that world - e.g. ETH, LTC, EOS, etc etc

 

[Fulcrum29]

There weren't two tickets assigned. BCC was already in use so why Bitcoin Cash chose it is a mystery. It forced exchanges that already listed BCC to use a different ticker. And as for ISO conventions for currency tickers, this is kind of a different planet to that world - e.g. ETH, LTC, EOS, etc etc

Coins like LTC is not recognised, BTC has recognition in some markets. It is only BTC which has an 'auditable' ticker assigned as XBT. ETH is a token, like EOS which is based on Ethereum, but ether acts as a vehicle (GAS) to compute and by this reason should be avoided in being recognised as a currency, share or asset. In this unregulated market, the devs (or whomever) pick a ticker which is available.

On BCH,

https://forums.prohashing.com/viewtopic.php?f=11&t=1753

Standardizing Bitcoin Cash as BCH

Wed Aug 02, 2017 8:44 am

I wish I had been around to write about Bitcoin Cash last week, but we've been very busy trying to improve performance of our system. My one-line advice last week, which appears to be good for this morning at least, remains: don't sell Bitcoin Cash. It's going to be up and down for months, but people like us who actually send Bitcoin will continue to notice that the SegWit2x Bitcoin will remain overloaded and unusable. Meanwhile, Bitcoin Cash cleared out its entire mempool with each block. Technical stuff like that actually matters. Plus, the SegWit2x Bitcoin still has the same Core developers to deal with, it will remain mired in political deadlock, and it has uncertainty about the upcoming hard fork.

But the main point of this post is to implore people to begin referring to Bitcoin Cash as "BCH," a ticker symbol that was previously unused. While the exact symbol is unimportant, this seems as good as any because it has the most widespread usage so far. I urge community members to drop other symbols like "BCC." For one, the multiple symbols needlessly complicates software. Chris has wasted over a day now rewriting code to deal with this inconsistency. There are no other major coins that have inconsistent ticker symbols across exchanges.

More importantly, BCC has long been used by Bitconnectcoin, a popular coin with a high market capitalization. A search for the price of BCC can return the price of Bitconnectcoin, which has no relation to Bitcoin Cash. It has also been used to refer to Bitcoin Classic and even designates a futures market trading the hypothetical user-activated soft fork, which was averted. This user-activated soft fork is the complete opposite of what BCH is!

Please consider referring to Bitcoin Cash as BCH. We are submitting tickets to exchanges to suggest the same today. Referring to the coin as BCC causes people to accidentally buy and sell Bitconnectcoin, confuses people about Bitcoin Classic and Bitcoin Core, and creates unnecessary coding and debugging to deal with conflicting ticker symbols.

This while their own website still promotes it as BCC,

https://www.bitcoincash.org/

 

[hj2k_x]

And poloniex still down... Anyone else concerned?

 

[MrGray]

Coins like LTC is not recognised, BTC has recognition in some markets. It is only BTC which has an 'auditable' ticker assigned as XBT. ETH is a token, like EOS which is based on Ethereum, but ether acts as a vehicle (GAS) to compute and by this reason should be avoided in being recognised as a currency, share or asset. In this unregulated market, the devs (or whomever) pick a ticker which is available.

The fact remains that cryptos are recognised by those who will recognise them and part with money to acquire, hold and trade them, regardless of which body rubber stamps them or approves an ISO ticker symbol and the top 5 by market cap (which includes LTC and ETH) have a combined market cap of around $80bn.

They exist in a kind of parallel universe to formally regulated securities and part of the reason that they can survive in an unregulated environment is that a lot of the trust functions normally provided by regulatory means are built into the underlying vehicle itself.

Of course, the exchanges are a law unto themselves, but despite the odd scam, hack or outright theft, the interesting thing is that the market winnows out the dodgy exchanges over time as they lose trust rapidly. An interesting aspect of the exchanges is that due to the nature of the blockchain the transactions made by the exchanges' internal processes are publicly viewable.

 

[Dan C]

wow , over R42k at the moment ...

 

[Thor]

Ja look this has every single symptom of a bubble:

1) Wild euphoria and frenzied buying
2) Predictions of never ending massive increases
3) General public starting to talk about it
4) Value detaching from underlying reality

Only problem with bubbles is that they can continue for a very long time, before they burst.

So right now its its just a game of musical chairs, with almost zero chairs left on the floor, you just have to hope the music keeps playing? But it could carry on for years even, but its going to be nasty when it finally does stop.

When bitcoin reaches 1.147 trillion in market cap then we can come talk about bubbles.