Bitcoin Forum

https://image.ibb.co/ekrzzk/bcccrash.jpg

Let the dumping commence!  ;D

Everyone giving BCC so much attention tells me that people are worried about it being successful. hmmm..

Successful like Bitcoin?

It's getting so much attention because it is the first time something like this happens.
BCC, unlike BU, is happening and there is some miner support. People are also moving their coins out of exchanges etc.

Will it be successful? Maybe.
Will it come even close to the success of Bitcoin? Hell no.

Bcc will not get that much attention as like to bitcoin, its only trending this past weeks because of tomorrows big event. After few days the price will go down  for sure and the name bcc ,everybody will forget about it. Its only a one day fame story of bcc i guess.

BCC is useless they people are still stay use bitcoin instead of bitcoin cash.. since bitcoin is already been successful many years so  i think other people and investors you can't move those people to the other new made coin that actually will experience new bugs that already experience of bitcoin..
So expect that many people will dump BCC good luck for those who holding BCC i'll stay safe in bitcoin .

In a few hours bcc will have Its circulation in the market and we can't know its effect in just few hours so we to wait a week to see how it goes. Although most of the speculation are saying bcc  will be a dump, i believe we still have to wait because from what i see there are still big time traders who wants to have there own bcc especially trading sites who could support bcc.

Today is august 1 and my wallet did not use until the fork done.  We dont know what is the price of bitcoin cash once they listed to the market but for sure after they listed it will become trending and maybe it will increase because many people for sure will buy bitcoin cash because its new coin.

i speculate the dump to be in 3 steps. the first one pre release. which has been happening already and price has gotten dumped ever since the first market for BCC started.

the second step will be the first day as the exchanges credit the equal amount of BCC to their users who have been holding BTC there and they dump it because it has been going down.

the third step is happening as the BCC blocks are being mined. with each 3 (or depending on how many confirmation the exchanges want) more BCC will be deposited in exchanges and will be dumped. this will be a slow process because it takes time for people to find a way to download and import and spend,... their BCC and also it takes a longer time for BCC blocks to be found.

Bitcoin Cash (BCH and not anymore BCC) can have a life of its own because there are now some number of supporters of the altcoin this early and if it can prove something that it can also survive in a sea of new coins/tokens then there is a big possibility that more and more will support it.

BCH should not anymore be taken as something like an enemy to the real Bitcoin in the same manner that we don't view that way when we talk about Litecoin and Ethereum...let it takes its place as an altcoin. Right now, Bitcoin's value is not affected by BCH in fact this can even push its value to the sky because we would be able to see the big difference between the two.

But would it be possible that later on Bitcoin Cash can proven itself to be better than Bitcoin? Hmmm...let me have it a topic in another post.

I see your point and agree, that Bitcoin Cash may take its place as an purposeful alt-coin. It just bothers me at all the people that are trying to change Bitcoin from what Satoshi intended. We should leave Bitcoin the way it is as an honor to Satoshi as well as an experiment to see how it turns out. Let all the alt-coins try new configurations and algorithms. If they really are better than people will switch. It's not worth the risk in ruining Bitcoin because people want faster confirmations or lower fees.

That said, I would have more respect if Bitcoin Cash didn't try to profit off the Bitcoin brand and came up with an original name. Just call it what it is, an alt-coin.

Haha, panic seller every where, I can't wating for see this time the value of Bitcoin Cash go to zero ::)

There are wallets and exchanges that give Bitcoin Cash for free and the amount will be exactly the same as the bitcoin they store in the same place, this will allow a big dump on the Bitcoin Cash market because people who get Bitcoin Cash for free is likely to sell it immediately, This will result in a decrease in the price of Bitcoin Cash will fall badly after its launch.

No, I beg to differ. I think there are enough people out there that might think that BCC is the next big thing. You have to think back to the Titanic days, when it was hyped as the unsinkable ship. One of the designers even said, "Not even God can sink this ship."

If you can fool enough people by dumping enough money into this coin, they might buy into it and before the ship goes down, the early pumpers will jump ship, leaving the fools to drown.  ^hmmmmm^

If BCH doesn't crash and burn on a technical level, which it very well might, then I think that there will be three stages:

1. For the next 2-4 days, people will have BCH and be trading it inside of exchanges, but will not be able to readily deposit or withdraw it because BCH blocks will be mined very slowly. This will cause a very inflated price on at least some exchanges.
2. Over the course of a few weeks after that, it will be driven absolutely into the ground as people dump their free BCH.
3. Then it will recover somewhat and hover between 0.001 to 0.01 BTC as a maybe slightly-above-average altcoin. Depending on how committed its supporters are, it could continue indefinitely similar to Litecoin or peter out after some time.

Yeah, the fact that everyone thinks it will be worthless and plans to dump it makes it sound like Ethereum Classic's launch. (Well, launch isn't really accurate, since it was the original chain)

The idea that it could overtake Bitcoin seems farfetched...but with a lot of hashpower behind it (Bitmain), a major payment processor (Bitpay), and support from large exchanges (Bitfinex, Kraken, Okcoin, Huobi, BTCC), I could see it gaining some traction.

The bigger question is, what does that do to Bitcoin's network effect? According to Metcalfe, it means the value of both networks will be worth considerably less in a network split (assuming BCC's share is sizable).

Also, regarding Ethereum Classic: the overall market cap (ETH+ETC) dropped something like 40% after the fork. Something to keep in mind....

Are you not supposed to be neutral on this?

I think theymos said it in very great neutral manner. Free coins mean free dumping I guess. When the dump stops there may be community still supoorting it and development may go litecoin levels. I think it is healthy for both btc and bcc.

Dumping will commence once no support or activation happen in big exchanges that already support bitcoin ? also think about first problem occurs after the split happen later today but most of supported need to get more free coins . 

all of those operations depend on network effect. they would be monumentally stupid to go all in on it. they may want it to work but they're not dumb.

When giving information (such as how to take your coins to a safe wallet and control both chains, or how a chain split occurs), theymos should be neutral and he's done that well.  But this is just discussing the future prospects of BCH, so it's fair enough.  At least the wording is tentative - some people on the forum have irritated me by acting like they're 100% certain about exactly what will happen.

---

My thought is that BCH will be dumped for a few days or so, with a couple of dead cat bounces on the way.  It will reach a moderately low price (let's say 0.01-0.05 BTC) and stay there for a long time.  During that period, whales will be subtly accumulating it a bit at a time, and in about 2-3 years we'll have a crazy ETH-like pump with a lot of FUD that the old Bitcoin will fail completely.
BITMAIN is not actually going to dedicate hashrate to it.  At least not yet.
I don't see any actual merchants agreeing to take it though.
Some of those exchanges have not actually agreed that they will trade it, just that they will credit it to their users' balances.  Even if they did trade it, it wouldn't matter - these exchanges just need to rake in fees.

Seeing how people are reacting on forums alone i think it is probably going to be the case. Even if you are a BCC supporter dumping it at the start if you can and then buying it later on is probably the best way to approach it. Though i really don't see why people would support basically a clone of bitcoin which is an altcoin airdrop, really.

I think that since people are treating it as an airdrop, dumping is absolutely going to happen. No merchants are going to be accepting BCC, probably only a handful of big exchanges are going to be listing the trading pair, etc.

I want to be neutral but it seems like no matter what happens, BCC is destined to be dumped to the ground. I think the timing is off, and the idea of an airdrop isn't the best idea either.

Really hard to be neutral when you see the BCC is crashing to the floor. The consensus around is that it will be dumped to hard that the price could go to 0. LOL. I don't think it will gain enough support from us because its just a altcoin. There are a lot of altcoins out there already and we don't need another one. People are dumb to think that BCC will be the future.

I know what i'm going to do. I will sell it without any regrets and i don't even care what will happen next.. I have better investments immediately. Also i believe BTC will smash BCC dreams, this is free market and without good support from buyers it wont last!

I respect others opinions, but i find nothing interesting in this concept every fork new Bitcoin,"BTC the 6th" like British kings.. :P

This BCC fork is an overkill, not needed whim and nothing more than simple greed talking through mining community.
Some of the miners won't pass the opportunity to create fork and dump their fresh altcoin to gain even more money.
Even if this altcoin survives - in the long run, it will be in the similar state as ETC is right now - it will be stable at 1% of original BTC value.

regarding that: https://www.btcforkmonitor.info
it's still not activated eg. no fork even it's 12:28 UTC ...

so?

That's one reason why I'm not going to dump any BCC. Another reason is to avoid a currency war, since Ver and co can also dump BTC if they want.

I think both coins can co-exist peacefully and try different approaches to payment issues.

I agree with that. The ETH and ETC coexist peacefully and the ecosystem is very good. Both BTC and BCC are useful.

A few minutes ago I also saw that people were telling in the yobit chat that when they will get the BCC then they will sell them and on there I heard that the price of BCC is going down continuously and it will go more down. I think there is only the profit of the early sellers and those who will be late will not get much profit.

That will pretty much be the case.
To sell for a bit of profit you will need to be extremely fast in selling.I'm not sure if this is worth all the stress you're doing til then.
Also likely that when this stuff gets dumped, some brave guys will pick it up and hope for a later pump to make some profits with it.
However I doubt it will have any significant value.

Personally, I would like to get bcash and convert it into btc on those exchanges which support bch but unfortunately bcash hard fork still unclear even though The start of the Bitcoin ABC (Bitcoin Cash) chain split has begun as the divide was initiated on August 1 at 12:37 p.m. UTC at block height 478558.
https://news.bitcoin.com/fork-watch-first-bitcoin-cash-block-mined/?utm_source=OneSignal%20Push&utm_medium=notification&utm_campaign=Push%20Notifications

But, I try to spread the news about electrum wallet that has told us about electron wallet https://twitter.com/ElectrumWallet/status/891943748652982272
Be careful as you could wake up tomorrow and it turns out your bitcoin has been stolen https://bitcointalk.org/index.php?topic=2040221.1300

I am just glad that all this is over and BTC returned back to Poloniex and Bittrex to be placed on Altcoins buy orders. Last days BUY orders were dry because everyone smart kept their BTC in their wallets.
About price, who knows. One thing is sure, both together will be more then BTC was yesterday.

After the bitcoin Cash whent to 56% it drop with full force to -25% in ten minutes. I think the coin will fall completely down few days to come. Bitcoin Cash is the political angle of bitcoin and you should know that politicians are full of manipulations and disagreement.

I sold all my bitcoin cash, but i plan to buy it cheap.


I think it's too soon to make sure that bitcoin cash will be a failure. Maybe in a few weeks we will be able to tell if it will be a failure or not

Everyone is selling it already. Here in forum too you'll see that there's a lot of people that will sell immediately upon getting BCC. It looks like there are few people that are wanting to pump this coin but this is not going to happen. We are already good with bitcoin and this is now pronounced, nothing good as other alt coins.

The way I see it is this: It's the single most profitable and best airdrop to ever grace the crypto world. It's free money now if you sell and free money later if you hold. Exit when you want knowing the people who forked have the power to keep price pushing upwards even if the coin itself isn't doing well. I have already sold and exited for good at .07 and I have no regrets even if the coin goes higher than Bitcoin.

Yea everybody is dumping, therefore the price is skyrocketing...
Stop lying and admit Bitcoin will be surpassed real soon. 0.13 and rising!

Oh come on kwuk, here we go again. Good to know that with the bold part you have said a fact, for the very first time. Why contradicting your statement that bitcoin's price is skyrocketing and in the end you said that bitcoin will be surpassed by that alt coin? But I like it when you are saying that bitcoin will be surpassed or dump, why? Because every time you are saying that opposite is happening.  ;D

going up and down massively , if you don't know what you are doing better to not take that opportunity taking profit from the bitcin cash volatile market , it will just hurting you , as it is looks like the big whales really playing there with the price .

the name of "bitcoin" are too good to be replaced with ridiculous bitcoin cash.

Well the price is going up so I may have to eat my words. We'll see how the price reacts when people can actually deposit and trade real BCH.

it will get exciting when we will reach price parity...

That is how it is looking to be like right now.

The one market is fighting with the other right now.
Even the coin names are different.
They couldn't even come up with the same symbol for the darn thing to continue trading with.

You can follow it on all available exchanges here:
https://coinmarketcap.com/currencies/bitcoin-cash/#markets

Until it reaches a very low value from what the OP is assuming is going to take place.

As for me.

Only time will tell for I do not hold any. :-X

So it does not really matter to me. :-\

Just for those who were waiting and wanting a quick cash grab.
And it seemed they got it as it is has been holding 16 hours later of being traded on over 10 exchanges already.

No, I still keep my opinion and waiting the time Bitcoin Cash delist or have value a few dollars per coin. WTF a "free coin" not need ICO, Mining, ... just distribute for user holding Bitcoin can have a high value as now??? Maybe it has been inflated and can breakdown anytime by whales

seems like lots of people are refreshing their browsers for opportunity just to be first ones who could sell bcc at higher possible price before its price gone to the minimum  :)

my F5 key is getting stuck, losing a lot omg

For now people having an eye of it since it was new and been link to btc but if days/months goes pass on it well maybe bcc will be dump since people for now are aiming to sell their bcc and the one who have been supported by majority is the btc and not this bcc who only been distributed since hardfork sa been cast. to lucky for those people who have many btc on their wallet when implementation of bcc is coming  :D.

Guys do you feel the hype right now with bitcoin-cash price or it is a first step in long journey of price movement till to reach original bitcoin price .

Dont thinks so im expecting to see something similar like with zcash when he arrived on market. All bitcoin users got bitcoin cash but i dont think that this amount they get is something that they want to see when it active exchange on market expect to see price fall down in day or two. He might be worth more then ETH but dont think it will last long.

wrong, definitely not everyone ... imagine how much BTC was stored in exchanges during fork, and those BCC belongs to exchanges (basically they stolen them) instead of users. Imagine how much people dont know or is afraid or simple will not claim BCC.

I think if China will use BCC as majority their supporters are there, price will unlikely falls -> and why you want to fall it? it's free money for us lucky ones :)

It think its pretty easy to say what happends here:

Since most of the people cannot get their BCC to the markets in order to dump them, the pumpers have only little resistance getting the price higher and higher.

As soon as the majority can sell, BCC will fall back significantly.

I really do not think that this one has future more than few months. Just a good opportunity for whales to get more BTC's through this game "who will wait for parity"..Imagine how many people buying this now. Just compare hash-rate and everything is clear. I could say this is a good try of taking over miners.

Not really. Exchanges aren't allowing any BCC deposits to come in, so the market is extremely thin on the sell side (explains why the price is increasing exponentially). I cashed out 10BCC at 0.14BTC today, but unfortunately I can't deposit anything. :-X Other than that there is not much to complain about. I am glad that I at least had BTC sitting on-exchange before the split. It gained me 1.4BTC in total. In the meanwhile, I keep refreshing (ahum... ddosing) the deposit page of various exchanges.

Absolutely,there is no exchange available for BCC holders to dump it and once dumping starts,its price would fall down very quickly.Until then,its the BCC pumpers turn to pump it as much as they can.I think that BCC may remain alive for few weeks.

I doubt that it can reach the support as what BTC has. BTC has already established itself since  the beginning and I doubt  that BCH can duplicate it. BTC has the full support of the community for long and I doubt that they will just shift to BCH in an instant.

Price dump is already happening on BCH i think on bittrex it played around 1000 usd price (0.3+) and now seeing on the chart it start to signalize on long bear candle which i do believe symbolizes for a dump im not quiet sure since im just applying technical aspects on trading I might be wrong that this thing would only be a pullback on the price and might continue to break 1k usd resistance.

Leave the poor exchanges alone :D Here, try this:

https://cash.coin.dance/blocks

As of right now we're still on BCC block #12 (for about 13hrs at the time of writing). Exchanges enabling the deposit page won't help anything if the blockchain doesn't chug along.

Prescient, if not clairvoyant. 1 and 2 are now almost certain. We will see about 3.

You did not foresee that the exchanges would refuse to receive BCH, but this is only amplifying your prediction and making the effect even worse.

There is a risk for BCH that hash power will be so minimal that it becomes too fragile to survive even into phase 3. After all, who pays the miners to mine something that does not yield any noticeable reward?

I personally would prefer to see BCH survive at least through the rest of the year to make it obvious to everybody how a hostile bitcoin hard fork without large majority support fares. I never believed that it could survive in the long run.

HitBTC (http://bitcoinbarrel.com/go/hitbtc) is allowing Bitcoin Cash deposits and withdrawals.

Correct.
Lets say the exchanges now are available and accepting bcc, those who have bcc will immediately sell their free coins to make profit. As the results the supply will increase while the value will dump as there are no or low demand in the market. Therefore it will be like a trash and die sooner.

For those are holding bitcoin cash how is the market? Truly, dump has commence and the last time I checked bitcoin cash market value has nosedive to  $365 from around $1000 who know whether it value will see the light of the day by reaching such value again.

haha, i was saying this in another topic. let me say it in another way here:
if you wanted to know which exchanges allow deposits of bitcoin cash then go to this link: https://coinmarketcap.com/currencies/bitcoin-cash/#markets and sort the list based on price in ascending order. the one with the lowest price are most probably allowing deposits.

But why are the price of BCC is still over $400? Are there many buyers as well?

Low supply, high demand. People trying to get some easy profits. Its risky though, when the massive dump starts your f*cked.

once again, it's free money, how one can be fucked?
worst case scenario = you have 0 worth BCC so you did have before Aug 1

everything else is just profit

.... still?

Ofcourse, but im talking about people trading BCH (buy low / sell high). Not the BTC holders that are selling their BCH.

fair enought, anyway this is general warning not only related to BCC or BCH or whatever abreviation it currently have

except few exchanges, majority of used ones does not offer BCC deposits so basically nobody is really able to "dump" anything, but as it will probably have it's value, I don't really think it's necessary to dump it so fast.

We'll see

it might not end up being free money. let's see how it develops first. there'll be a concerted push to use it to devalue the original chain. now the fork is done there will always be a doubt in the back of minds about whether they should be sold just in case. that's what they're gonna keep playing on.

Bitfinex is now allowing shorting.  

So, you can hedge by shorting an equal amount of Bitcoin Cash you currently have offline.

I dont think so think this is some push for someone to make more bitcoin in exchange. Ok we all got it one way or another but i dont think this will be good at the end. So many talks that it will be bigger the bitcoin but it already started to go down, hope that it might be success with some future development and improvement and that if someone is saving it will end up at the end with some better ratio on exchange, but dont think that there are so many of them.

speculate price for tomorrow will rang between 0.08 to 0.09 all the day .

The Bitcoin market has barely recovered from the biggest shake-up, I wouldn’t be surprised if the price for BCH goes down a bit.
And now when the major exchanges like CEX.IO introduced BCH deposits, the rate may even be lower as many holders will start panic-selling.
But little by little BCH will be gaining pace in the market. This one will go off pretty well, I am sure. 8)

big gab between exchanges of BCC example bittrex and poloniex

As time goes on, the gap is less than 1% now.

BCC will never ever came close to BTC fame and its acceptance worldwide.

If the LN is not activated in the future and the transaction is very slow, Bitcoin Cash will be more dominant.

Bitcoins cash is just like altcoins and it is again just rubbish in front of bitcoins. I strongly believe that they are never ever going to touch the prices that bitcoins are sitting at. It is just ridiculous to even think that bitcoin cash can ever be more dominant in crypto world than bitcoins.

LN will eventually be activated there is no doubt about that. but LN is not savior of bitcoin, it is going to be an additional layer on top of bitcoin, a chain that should already work. and will work if there is no spam attack.

in case spam attack started and caused issues with bitcoin, bitcoin cash may be pumped but i assure you it will be temporary because a spam attack against bitcoin can not go on forever. and it certainly won't make BCH "dominant". BCH is just a toy that miners abuse.

No! Going down and down....

There is a 20% jump today. Anybody know the reason?

The tech was finally able to mine a 1GB block. BUTTTTT It required a team of researchers from a University for it to finally work.

really? how nice  ;D

Bitcoincash is just a project to attract attention.
I knew that would be the case. Bitcoingold will be the same

Wow, I cannot believe BTC cash is still living. It would be interesting to know of much of the support is faked.

You will not believe that Bitcoin Cash price is over $1200 now.