Bitcoin Forum

Co-founder of bitcoin.com Emil Oldenburg, is extremely skeptical of bitcoin’s future. He calls it the riskiest investment one can make at the moment and blames it on the market liquidity. He also has sold all his bitcoin and switched all of them to bitcoin cash. What do you think of this? Do you think this sort of news will drive people away from bitcoin and it will all fall off one day or he's just paranoid for no reason?

This isn't a surprise since Bitcoin.com CEO Roger Ver is the main guy behind the Bitcoin Cash which they claim to be the real Bitcoin. Though Bitcoin Cash (or some like to call it Bcash or Btrash) is trying hard to market themselves and I think they have somewhat succeeded on that. People don't want to pay $10 in fee to send Bitcoin when they have other alternatives that are cheaper and faster.

Some people also call it bitcoin crash, because they think it will be worthless when LN and sidechains are implemented, but I think this could be said of pretty much all the alts.

For the moment, it is true that it has become an important coin, 3rd one in market cap, unlike Bitcoin Gold.

He is not right about it, but maybe he is on point in some facts about his theory.

Bitcoin is not stable anymore, the price is skyrocketing, and that is probably a problem for a lot of people, it is scarying me too.

But i dont know, seriously he switched to bcash? what a shame..

People are allowed to do whatever they want with their money. If he wants to sell them there are lots of people who want to buy also. :)

first of all you should know that bitcoin.com is the main advertiser of bitcoin cash. that should clarify whey he "said" he has done what you explained here.

secondly, if you think bitcoin is risky then you should already know that altcoins, specially bitcoin cash are much riskier investments!

and finally selling and diversifying is not a bad thing. bitcoin has risen a lot, it is only wise to sell something to get some profit out. even if you do don't believe all the bubble talk, there is always a tiny chance of a drop. that "tiny chance" is enough for you to re-think your strategies.

and no it will not cause any panic or drive people away, almost everyone knows what they are up to and they are used to people saying weird shit about bitcoin all over the internet. :P

I don't see how Oldenburg is wrong though. Bitcoin and other cryptocurrencies are definitely risky investments; and I'm pretty sure a lot of people here will agree.

So, Oldenburg sold all his bitcoin for bitcoincash. So what? It's a free market. He can do whatever he wishes. So he thinks bitcoincash is better than bitcoin? Then let him be. Each person has their own opinions, and there's definitely nothing wrong with that.

He works for the creator of Bitcoin Cash, Roger Ver, so his opinion cannot be considered objective.

He's trying to create hype for Bitcoin Cash. I think that's fine, as long has he's not unfairly criticizing other cryptocurrency as he is Bitcoin.

Where did you read this story, Bitcoin.com? Roger Ver is the other founder of Bitcoin.com.

Seems like another "The Real Bitcoin" promotion for me.
Personally, I don't hate these guys but the way they goin' aggressive in selling Bitcoin Cash to platforms like when Steam temporarily removed Bitcoin as payment is a tactic going in the wrong direction.

Regular users be like:
BCC: This is the Real Bitcoin
Regular user: (sarcasm) Yeah right
BCC: Transactions are faster.
Regular user: ....
BCC: Transactions are cheaper.
Regular User: Will you sh*t up already.

this is yet another publicity stunt to get bitcoin cash pumped some more and everyone is loving it, it is already $2200 approximately and the pump has given traders a lot of profit, the profit which is going out soon and into another pumping altcoin and then another after that and finally all of it is poured back into bitcoin, the real cryptocurrency that everyone including bitcoin.com goons own.

I think along with Robert Ver if I remember the name of thT man correctly attempted to do the same thing and maybe they both are trying to grab the attention ..its really weird that since they see a huge potential of exploitation in bitcoins cash they are switching over it..they are both ging according to their own profit..and no i don't believe the claims of a person who founded Bitcoins..^ and.. he left ir halfway..instead of pumping it up now..since he is in a high profit with respect to bitcoins now he is gonna drive the car towards something else..and I don't think that you should trust a person like this..

Nah. As things stand, Bitcoin is far more secure with more miners holding a big fraction of hashpower. IIRC three mining pools banding together would be enough to launch a 51% attack on Bitcoin Cash. Bitcoin is also a lot more popular with a lot more users.

Bitcoin Cash's only solution as of now is to increase the block size, and they can't keep doing that. We at least have the Lightning Network to look forward to, which is a massive step towards solving the scaling issue. I would like to note that Roger Ver, one of Bitcoin Cash's biggest supporters can't even put his money where his mouth is. He's still HODLing his Bitcoin stash.

I'm guessing he might have been more likely to buy a lot of BCHs when BCH was cheap, and then he thinks the current BTC price is high enough to sell and claim he likes BCH to make a profit again.

Eh, I can kind of see why he would move away from Bitcoin normal and into something like Bitcoin cash, considering that the network is backing up and it's looking more and more like the market is just limiting the supply to increase the value of Bitcoin (and there is little actually backing for the value because of this). Putting it into BCH doesn't make sense though since if Bitcoin goes down altcoins typically go down alongside it. I'd have expected for him to seek a more permanent solution if he was really that worried.

This happens a lot. Founders leaving or getting fired from their own company. Still, those companies continued to flourish despite the departures. Bitcoins is at a trajectory right now where nothing, not even doomsday pronouncements from IT legends.

The most important part of what you have just written is the liquidity part. With such a  bitcoin network congestion that we are observing today, if something happens and everybody panic sells, you will not be able to execute your trade for weeks and weeks. So he was right to get out of it ahead of time. At least, if BTC and BCH sink, both, he will be able to get out of his investment in BCH.

You don't get rich BUYING all time highs, retards. You get rich by SELLING all time highs.

This is his choice, and his decision. He has the right to dispose of his money as he pleases.

You are dead right. However, you never know where the all time high is, it is called an all-time high but in reality it is an all-past-time high. If the asset goes up and you didn't buy it, you sometimes only watch the train depart - or you might decide to jump aboard it, it is much riskier, but it is definitely doable

So what? Maybe he needs money for something not related to business at all or he's decided to retire. I don't know how much he sold (can't find in any article) but if I had close to 1mil in btc, I'd sell them and enjoy the rest of my life with that money, invest in some business like a caffe, sit back and relax.

as he already made lots of money, ie he already made huge profits now he is leaving the train, this would be something very normal, but he sell bitcoin to buy bcash was something kinda risky... if bitcoin drops, bcash and other altcoins also fall, unless those supporters of bitcoin cash still believe that bcash will overcome bitcoin and one day bcash will be worth $17000


do business in real life is always safer, but open a business in real life is something very difficult, I for example want to open a company in my country and I'm already dealing with the processes, but there are many expenses with bureaucracy and construction of the company . As for the question of the source of this news, I would also like to know where the source link of this news

Every investment is risky, especially in crypto market.
Maybe he exited his position and will look to reenter when BTC consolidates.

This is not a bizarre news at all if we know that he is friend of Roger Ver and that site is one of the biggest promoters of BCH.So they are again trying to attack BTC with the money from selling BTC and now pumped in BCH.Maybe that's the reason why price is drop on all exchanges in this moment, but I'm sure it will not take long that BTC move upward again.

When SegWit and LN finally start to working BTC will be more powerful than it is today :)

This is not very surprising news since his friend, Roger Ver were a big supporter of bitcoin cash and bitcoin.com were a biggest promoters of bitcoin cash after these years profiting from bitcoin, and now he's calling it the riskiest investment just like that but i must admit he is right bitcoin is very unstable and the transaction fees are very high at the moment and i hope LN could be a game changer after it realease.

I am not much bothered about it. After all, he converted his Bitcoin to Bitcoin Cash, rather than converting them to fiat. It is an interesting sign. I am OK as long as Bitcoin Cash benefits from the fall of Bitcoin. Because I have almost equal amounts of both BTC and BCH.

Bitcoin devs need to get their stuff together. Egos will be the killer of Bitcoin, not BitcoinCash...

Definitely, but I dont see any light yet, infact there are more and more forking coming that said can rescue bitcoin and become the real bitcoin, the one that I see the developers ego that want to reap profit not making any better condition for crypto currencies, and bitcoincash has gather quite a lot of investors, due to the cheaper transaction and cheaper fee, but the real things is they used bch for profit