Bitcoin Forum

This drop in the price are based on confusion between Bitcoin <BTC> and Bitcoin Cash.  ;D ;D ;D

The average Crypto currency speculator does not understand the technical difference  between Bitcoin <BTC> and Bitcoin Cash. They read in mainstream media about a Bitcoin war and they think it is happening in Bitcoin <BTC>

The Bitcoin Cash fork has absolutely nothing to do with Bitcoin <BTC>, but these stupid speculators does not understand that, so they run for the hills at the slightest indication of possible instability.

The fork and the war is applicable to Bitcoin Cash not Bitcoin BTC!!!!!!!!!!!!!!!!!!!!!!!!!!

Trademark infringement if such a thing were possible in crypto; this scenario is why they pay the lawyers so much to go after people.   The people who can see nothing else existing beyond centralised systems and companies will again be crowing over such confusion.   I dont doubt you are at least partly right for the mainstream but Im not sure that many of the population so casually involved are holding big enough amounts to counter act those who know better on that point.   In one way I wish it were the case, we had a giant population of users that diverse but I dont think those people involved at that level hold much if any of either crypto

Why do you bother?Just let the stupid ignorant investors run away from the market.There will be more cheap bitcoins for us.By the way,I thought that the current bitcoin price decline has something to do with the Bakkt project or the SEC ETF approval.If the crypto whales are selling or some idiots are thinking that BTC is BCH,then there's nothing to worry about.

While I know that there is a confusion between Bitcoin and BCash and while I have no idea what triggered such a dump (aside of the usual market manipulation), I would be surprised if entities holding 1000s of Bitcoin fall for this kind of confusion. But yeah, "never say never"...
Let's see what the future holds... maybe in a few days we'll know more...

nah, the BCH drama has been more like an excuse to dump bitcoin down a little as an opportunity. sometimes opportunities in a market don't just happen, you have to force them to happen. and as I always say traders always love a good FUD that they can make some money from.
think about it, for a couple of weeks price has been stable. everyone was bored out of their minds and couldn't make any profit. then the FUD came and profit flow in  the market. wouldn't you just love that :D

Not sure what we are facing right now, it it is extremely difficult to understand.
i believe peoples are not that stupid enough to get fooled by those forks that happened with BCH, after all this suffering that we got from it.
the only thing that i know right now is, Bitcoin hash rate is decreasing from day to day.
damn

If we let the prices to fall too much then the mining profits will become obsolete so if the miners stopped working then it may bring huge collapse on the bitcoin network so we need to educate the people what is bitcoin and bitcoincash as soon as possible and I don't think the prices will fall too much from the current price because of the whales since they won't let it go far beyond.

The positive side of the fork is that people who didn't bother to claim their BCH, have now more incentive to do so.

BCash destroyed coin days activity is going through the roof right now, which means that people are waking up coins that otherwise would have kept sleeping for years? In other words, there will be more BCH in circulation than ever before, and there will be more BCHSV in circulation than ever before. More supply + less demand = low price. These dudes are shooting themselves in the foot with this.

Let people sell Bitcoin down as far as they can, I'll happily take over their coins, and I'm sure there are lots of more hungry Bitcoiners happy to get rid of weak hands.

I agree that many crypto users are confused with some many versions of BTC, for most of them any coin which have Bitcoin in name is just BTC and this is big problem. But main reason for big price drop is just an opportunity for extra earnings, people loves forks because of free money - more BCH in wallet means more new coins after fork.



I guess most BTC users claim BCH long time ago, but some will for sure do it now and probably some of them will become victims of fake wallets as always in such situations. Fake sites and wallets for BCHSV are ready, hackers just wait greedy and naive people to give them nice profit.

Some people see this event as tragic, and maybe it looks like that - but for the long term holders nothing has changed.

Tell that to dr. Wright, its he who dumped it recently.

Who says it's 'people' selling their coins?  The people def got nothing to sell that could move the market like that.  Lololol.  :D  It's prolly Jihan f*cking Wu and co. playing.

People are not selling bitcoin mate, the people who are fighting over whose bitcoin cash will survive is the ones thats actually selling the bitcoins to cover the expense of a war. War is not won by soldiers and neither it will be won by being right, it is won by money. Whover spends the most money on this war for bitcoin cash will win the outcome of the fork.

As long as both sides keep spending money to try and beat each other there will never be a safe zone for any of us, we will be the ones who lose because in the end if one side wins they will be rich as hell and the other side will lose and have nothing to show for but still be rich businessman for life. They have nothing to lose, what is the difference for them to have a billion dollars or half a billion dollars, they are still capable of living however they want. It will be us that lose our life savings along the way.

In general I think you're correct, but I have a feeling that some people just getting interested in crypto right now may not have the knowledge/experience to tell the difference between the two, as silly as that sounds.  But whether that's true or not, I don't think it has anything to do with the bitcoin price drop that just happened.  I tend to think it's just normal volatility and that looking for explanations is a waste of mental energy.

The "average" crypto speculator not understanding the difference between BTC and BCH?  No, I don't think so.  As I wrote above, this might be a problem for complete noobs in the market, but not anyone who's been in the crypto space for more than a few months at most.

See, that's the smart attitude to have and the best thing to do when bitcoin drops something like 10% in a day.  Unless there was some seriously bad news accompanying the drop, it's usually a good buying opportunity.

But the common speculator knows that in an elephant fight the rat must flee when one hears Jihan Wu. Roger Ver Vs The guy who think that is satoshi AKA Faketoshi, people know that nothing good can come out of something coming from these guys, and faketoshi made threat on twitter. unfortunately this only shows that still is too early for cryptos to be used as a means of payment and mass adoption, imagine how the sellers would be in the constant fight that exists in the crypto world?


People know that faketoshi and Wu have bitcoins that could sell and make the price of bitcoin fall


People are afraid

people always try to rationalize why selling occurs, so they tie it to a news event. i saw some articles speculating that the bcash fork caused the dump. i really doubt it. i think price was just bleeding all week and a few large players got squeezed into closing their longs. that triggered more selling as people panicked.

I partly agree with you but it all happened so quick like in the space of 12 hours
Could it have been a coincidence that a sell off coincided with the bch thing?
or was a selloff planned to coincide with the bch thing to trigger a bigger sell off to manipulate the market down?

Bitcoin gets thrown into it whether we like it or not, because both BTC and BCH compete for hashrate, and Bitmain doesn't shy away from using BTC hashrate to protect their BCHABC chain against Craig the scammer.

I read that some people believe that when hashrate from BTC moves to BCH, especially so close to the difficulty adjustment, that a lower difficulty results in more coin inflation and thus miners dumping their coins.

What they forget is that there is over 10EH of hashrate not doing anything at the moment, and this hashrate will enter BTC as Bitmain's pools transfer a chunk of their hashrate to BCH. There are no winners here, crypto as a whole is the loser.

Hmmm, no! Thinking people make financial decisions by being stupid is the first step in making a very stupid decision. The market allows you to profit from both the rising price and the falling price. And the politics and demonstration of power are very useful to make more profit. In addition, wars are expensive and it is not yet possible to subsidize a war using only BTC.

that's how every selloff is. in general, price rises slowly and drops fast. an old saying that traders have: "price takes the stairs up but the elevator down".

some larger sellers may have intended for the selloff to coincide with the bcash fork, since there was obviously some confusion around it. but IMO the real reason most people sold is because the price went down, not because of any news.

I doubt there are enough real people left in these markets to misunderstand. It's going to be overwhelmingly bots and the varying Bcash crews probably know how and when to trigger them. Price talks loudest of all.

True!  Manipulators see this as an opportunity to FUD the market and to buy Bitcoin at discounted price.  Sadly there are still lots of weak hands that panic and sold their BTC thinking they have save losses when the truth is they lose  more since after this bloodbath we can see another rally for BTC price increase.  This scenario keeps on repeating, and yet many did not learn.

Hahaha dude it seems you are just predicting on your own pool of information. I think this isn’t good to share your personal prediction here with zero facts and figures. Better try to avoid such.

Lol. Yeah since i don't see any major event that could have possibly dragged btc down aside from that. It's quite common that people who have limited knowledge about btc can mistake it for bch and it already happened before. And that reason is why i also think this decline will not be for long.

This misunderstanding is happening for a long time now, not all investors in the cryptocurrency market have knowledge on what they are doing and only a few do research what is really happening and what will affect the market, the result is the misunderstanding and the panic will overcome what is true leading to the entire market being affected. I really do think that this fall is due to the market leader dropping which has influence other coins to follow its lead, recovery is inevitable but we don't know when it will start to climb back up again, since it dropped on the descending triangle we need to look for another bullish pattern to form.

i don't think it is all weak hands' fault. it is the dynamics of the market and all the participants in it. for example every trader loves to gets his hand on bitcoin at a cheaper price so that they can buy more of it. so when they see the FUD (or the opportunity) they sell fast so that they have money to buy back at the bottom. which is the reason for the drop in first place.

That's the difference among people who do have knowledge on crypto or to those people who just jumped in into this market for the sole purpose on money-making
without even knowing the basics among coins or projects. Once they hear out a certain news they do believe directly without tending to make any research.
Sooner or later they would realize on the mistake they have done and would learn from it.

People are always confused that's the thing. Bull market people, they all got a lot of profit and they thought, wow we're so smart. So they kept buying random coins and then when this year happened they got so scared and just sold out on everything.

Mentality is a problem, you can't learn the right mentality, you just have it or you don't.

But yeah, this BCH confusion with BTC was even around since 2016. Honestly I bet there are so many people who bought BCH and still think it's BTC today. Crazy world, but that's what you get with people who blindly chase wealth without getting themselves educated.

I got rid of all my bchsv to get more bchabc.
On one end you have renowned liar Faketoshi.. on the other something backed by Bitmain and endorsed by the biggest players (coinbase, binance, bittrex). It's clear that current hashrate superiority of bchsv is the result of manipulation and irrelevant (other than giving a nice price action for people who want to ditch bchsv to get more bchabc).

Notwithstanding the fact that bitcoin would be a tool of war in coming years, like in end of this century or the next one. But in this era, we must make strong choices to take advantage.

I don't believe that bcash drama and Bitcoin's crash are directly connected - there's no way that this market is so stupid that it can't distinguish those coins or that they think that bcash fork wars somehow gonna afflict Bitcoin. I think someone was waiting for an opportunity to dump their coins, preferably during some negative event, and since nothing was happening with BTC for a while (ETF's are long gone), they decided to do it during bcash fork, and it seems like it worked. People panic and they don't understand what's going on, so bcash fork sounds like an explanation to them, even though it doesn't make any sense.

This market is new this world is new for them. So this happens. Don’t worry and don’t curse on being confused. Definitely it is matter of their hard earned money and they have right to take complete time.