The Bitcoin Thread

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BCH went down as expected after the fork with everybody cashing in on their free coins. BCH still trading below the value of their original futures price but steadily climbing since about 2 days ago. Could there be hope for BCH ? As for Bitcoin, the current price may be a bit of an illusion needing correction following the trading to BTC from BCH on one hand, on the other hand investors who have been watching since way long before the fork may be investing now after the dust settled.
 
etienne_marais said:
BCH went down as expected after the fork with everybody cashing in on their free coins. BCH still trading below the value of their original futures price but steadily climbing since about 2 days ago. Could there be hope for BCH ? As for Bitcoin, the current price may be a bit of an illusion needing correction following the trading to BTC from BCH on one hand, on the other hand investors who have been watching since way long before the fork may be investing now after the dust settled.
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Personally not a fan of BCH. The sooner it dies, the better
 
etienne_marais said:
BCH went down as expected after the fork with everybody cashing in on their free coins. BCH still trading below the value of their original futures price but steadily climbing since about 2 days ago. Could there be hope for BCH ? As for Bitcoin, the current price may be a bit of an illusion needing correction following the trading to BTC from BCH on one hand, on the other hand investors who have been watching since way long before the fork may be investing now after the dust settled.
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balrog said:
Personally not a fan of BCH. The sooner it dies, the better
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BCH is up 84% off its lows since Sunday. But it's too early to tell where this is all going, IMHO.

BTC is approaching Segwit activation, probably in September, but there are some heavyweights behind BCH - right now somebody is sinking an estimated $100k per day into mining it and it is likely that whoever has those resources will not let it collapse on the markets.

There is so much history, FUD and politics behind the differing approaches to scaling that it is hard to know where this might ultimately go. One consideration is hashing power - where the miners go will ultimately dictate the relative success of one vs the other. The difficulty of BCH mining is going to adjust down, and if the price of BCH rises, it might see a lot of miners switching as it increases in profitability - this could make BTC transactions slower and less popular. On the other hand BCH may never reach critical mass.

Because of the theories that there are some big whales who see BCH as the "true Bitcoin" and having been content to see it bottom out will now start trading their large BTC holdings for BCH slowly, a lot of speculators are holding. Things to watch for are whether more miners start mining BCH and how well the segwit process goes for BTC.
 
The difficulty of BCH mining is going to adjust down
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How does this work, is it because of the new block size or simply because of low number of transactions after the dust settles with the withdrawal of 'free' coins ?

Also, I understand BCH transaction fees will be almost nothing as compared to BTC fees rising, making BCH more attractive, as well as BCH transactions being faster or confirmed faster.
 
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etienne_marais said:
How does this work, is it because of the new block size or simply because of low number of transactions after the dust settles with the withdrawal of 'free' coins ?

Also, I understand BCH transaction fees will be almost nothing as compared to BTC fees rising, making BCH more attractive, as well as BCH transactions being faster or confirmed faster.
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https://hype.codes/bitcoin-cash-mining-difficulty:

Bitcoin Cash has a very particular rule about when difficulty can adjust downward. Rules for this are as follows:

Median Time Past of the current block and the Median Time Past of 6 blocks before has to be greater than 12 hours.
If so, it gets 20% easier to create proof of work. In other words, miners can find blocks 20% easier.
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There have already been a few readjustments.

https://themerkle.com/bitcoin-cash-mining-difficulty-adjustments-help-the-network-adjust-and-grow/

The BCH network difficulty is around 17% of that of the original Bitcoin chain. This is a large discrepancy, to be sure, although the hashrate is also a lot lower in comparison. Some people feel that this is “cheating,” but no one can expect a fraction of the regular hashrate to mine at the same difficulty as the legacy chain. If Bitcoin were to lose a lot of hashpower for whatever reason, its difficulty would adjust as well.

Unfortunately, a lower difficulty does not make BCH more profitable to mine. Right now, mining Bitcoin is still approximately 150% more profitable compared to BCH. That said, that number was 270% not too long ago. All of this shows that small steps are being taken in the right direction, and it will take some time before things fall fully into place.
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Held onto my BCH. Glad I did. Although l’m a bit bummed I didn’t get in on the action over at Altcointrader. I’m convinced people there were buying BCH thinking it was "BTC"!
 
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PAYBACK said:
Held onto my BCH. Glad I did. Although l’m a bit bummed I didn’t get in on the action over at Altcointrader. I’m convinced people there were buying “BCH” thinking it was BTC!
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Similar thing apparently happened with BCC (Bitcoin Connect), BCC rocketed due to people trying to buy into BCH.
 
I made a tutorial on PW how to buy bitcoins share that with your family and friends to get them started (:
 
I know a guy that bought 6 bitcoin when it was about $200/btc. This was stored on his phone with some wallet called greenaddress. Reset the phone because it was slow, and subsequently lost access to that wallet :cry:
 
jman said:
I know a guy that bought 6 bitcoin when it was about $200/btc. This was stored on his phone with some wallet called greenaddress. Reset the phone because it was slow, and subsequently lost access to that wallet :cry:
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I hope the phone was at least faster without all that BTC bogging it down :D
 
jman said:
I know a guy that bought 6 bitcoin when it was about $200/btc. This was stored on his phone with some wallet called greenaddress. Reset the phone because it was slow, and subsequently lost access to that wallet :cry:
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That sucks. About R300k gone
 
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