Not to inflate OP's ego any further... but did anyone else see the 4000+ BTC sell wall around $3400 on BFX one block from segwit lock in?
Yes but to say that this is a "MtGox style" kind of manipulation is far from the truth. Bitfinex does not have close to the dominance of MtGox in volume on the whole Bitcoin market. How do you expect "Spoofy" to manipulate everything? |
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>r0ach proven right
>thread started by r0ach himself
Let's eat silver for breakfast.
I am afraid I would have to agree. Nothing is actually proven. A story printed in Zerohedge, alleging that there is an entity called "Spoofy" manipulating Bitfinex and they therefore conclude he is also manipulating the whole Bitcoin market, does not prove anything. What it proves is there are like-minded people in Bitcoin that have put their tin foil hats on. I do believe that there is market manipulation in Bitcoin from time to time. But there is no single entity called "Spoofy" controlling all. |
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The only way we can use BCCthe way it was meant to be used is to hold it, increase the worth and therefore increase hashing power when more miners want to take it on.
Agreed, the profitability equation is starting to shift. It was 200%+ more profitable to mine BTC, but now its down to 75%. Once it flips and becomes more profitable to mine BCC then this will really start to gain. https://cash.coin.dance/blocksWill that affect the price of BitcoinCash to go as high as Bitcoin? I missed the dump at the first day of listing, but now I have sent all my BCC to Bittrex and I have placed sell orders a little above the current price. I am willing to cancel them if someone can convince me it is the wrong decision. Please also explain how that went down to 75%, and should happen for it to be back to 200%. |
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There is some mention of Flexbile Transactions as an alternative to Segwit among the BitcoinCash crowd. They claim it is better than Segwit and that soon it will be included as an upgrade in BCC.
This is what they claim. I am not a coder or a technical person so please tell us if what they claim is true or untrue.
Feature SegWit FlexTrans
Fixes Malleability ✅ ✅
Linear scaling of hashing ✅ ✅
Hardware wallet Support ✅ ✅
Makes transactions smaller ❌ ✅
Supports the Lightning Network ✅ ✅
Signatures can be pruned (in future) ✅ ✅
Double Spend Proofs ❌ ✅
Support future script versions ✅ ✅
No "two buckets" economics ❌ ✅
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Good luck for that dude, $10,000 is too much but who knows ? Maybe you are right and in 5 years the bitcoins price will reach $10,000. In my opinion $10,000 is possible but it will takes a long long time to reach that, maybe 10 years ? 20 years ? even reach $5,000 is still hard nowdays.
We're likely to see $5k USD/BTC by the end of 2017. Maybe but there is an interesting story about Bitcoin's price increase to surmount $3000. http://www.zerohedge.com/news/2017-08-06/mysterious-trader-nearly-unlimited-bankroll-said-be-manipulating-bitcoin-priceAccording to that analysis, there is a trader or group of traders that have been trying to manipulate the market lately, Mtgox style. It is also possible that it is being done be Bitfinex management themselves. may be there are people who hare holding it for that price that when bitcoin will reach to 10000BTC then they will start selling it, but i think it will take a lot of time and therefore i have decided to hold bitcoin tell the price reach to 5000$ because at that price will be making good profit form it. Maybe. But I later realized that a MtGox style of manipulation by Bitfinex today is maybe not that possible. Bitfinex simply does not have enough volume to do it. |
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Does Bitfinex have the same kind of influence as MtGox did in the past though? Mtgox had the majority of trading volume during its peak while Bitfinex today does not have anything close to what MtGox had.
The volume isn't what matters. What matters is that usually when the price goes up or down, it's almost always from Bitfinex moving the market and other exchanges following. This is how things have been all the way from $200 to now usually. The few times when it's not is when there's a large amount of shorts on Okcoin and then someone (possibly the exact same entity) goes onto Okcoin to manipulate that market and squeeze them. There isn't a real market for bitcoin. It's just whatever this scammer entity on Bitfinex manipulates it to. He usually tries to manipulate upwards (just like Gox), but has attempted downwards before as well such as during Brexit. What are you talking about? Of course is matters. It is not very easy to control an entire market unless the "entity" has cornered or at least have the majority of volume of the entire Bitcoin market. I will believe that story if someone proved every big exchange is in on the manipulation of the whole market. |
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Fortunately, I had mine on Bittrex so I was able to dump it early.
This coin brings absolutely nothing to the table, now when BTC SegWit get s activated, BCC will become completely useless and obsolete. So dump that shit.
You were one of the lucky ones. But did you send all of your Bitcoins on Bittrex just for the hard fork? It must have been very scary for you. I know I cannot do that even with a small amount. Doing that with 10 Bitcoins or more would certainly make me anxious and give me an acidic stomach! |
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Good luck for that dude, $10,000 is too much but who knows ? Maybe you are right and in 5 years the bitcoins price will reach $10,000. In my opinion $10,000 is possible but it will takes a long long time to reach that, maybe 10 years ? 20 years ? even reach $5,000 is still hard nowdays.
We're likely to see $5k USD/BTC by the end of 2017. Maybe but there is an interesting story about Bitcoin's price increase to surmount $3000. http://www.zerohedge.com/news/2017-08-06/mysterious-trader-nearly-unlimited-bankroll-said-be-manipulating-bitcoin-priceAccording to that analysis, there is a trader or group of traders that have been trying to manipulate the market lately, Mtgox style. It is also possible that it is being done be Bitfinex management themselves. |
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Does Bitfinex have the same kind of influence as MtGox did in the past though? Mtgox had the majority of trading volume during its peak while Bitfinex today does not have anything close to what MtGox had. But I agree, Bitfinex also has done other questionable things in the past, like socializing losses from the latest hack and giving their users 15% less of their BitcoinCash.
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OP, you do not have to open a thread just to be an asshole. The leaders you support like Roger Ver are already successful in the BitcoinCash hard fork. What more do you want from the people who support Core? There is nothing to talk about anymore.
Please go on your way and be happy with BCC. Do not forget to dump your Bitcoins on the way out.
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The BitcoinCash fork was shown to be a nonissue. The original Bitcoin still continues to be on the pinnacle of cryptocurrency development, thanks to the Core developers. That is because they offer the safer and the more secure solutions on how to move the network forward.
We should be happy that the people who oppose Core has split and created BitcoinCash. They can do whatever they want in their own chain now and leave Bitcoin in peace.
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Dumped it personally, more out of principal rather than thinking that I might not make more money in the future. It will probably pump again around November when core doesnt honor the 2x part of the agreement.
I do not believe the Core developers were part of the Segwit2x agreement. They were against it from the very beginning if I got my facts right. But Barry Silbert went ahead and talked to the top Bitcoin services and the miners into agreement. Core was not formally represented in the talks. |
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Even if I don't like the fact that BTC splitted...
This coin BTH/BCC will raise...
It will become the biggest alt...
I think it will maintain a minimum 10% value of BTC but might go higher
Many coins will never be claimed, it has BTC origins, huge diversification, solid blockchain and it's a somehow cheap opportunity to get in before BTC goes parabolic.
On the short term it will probably go down in value...but in the long term it will rise
I don't think it will rise very much... That pump was very artificial and seemed like it showed the currency is very artificial too like any other AltCoin. Bitcoin is going to $4000 on the medium term, if BCC maintain 10% of BTC's price it must price $400 and it's too much... Bitcoin has no limits and BCC like any other AltCoin is more limited and has more difficult to grow. I don't have spectatives about this currency. Never say never. I support the Core developers and I am for offchain scaling but comparing the price of BitcoinCash to other altcoins and saying it is "artificial" is not wholly correct. In the history of Bitcoin, hash power affects price. The larger it is, the higher the price. We all know BitcoinCash is Bitmaincoin. Soon we might see China mining at 30% of Bitcoin's hash power. I believe BitcoinCash is undervalued. |
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When the blockchain hard forked, I did not care about splitting my coins. But when I saw it was trading at more than $500, I decided to split them later and to wait for the price to go higher. But the price dived and now I regret it.
What about the rest of you, have you already dumped?
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Well you do not have to cry about it anymore. You now have another opportunity to buy at very low prices with the new Bitcoin called Bcash! The price is slightly below $200 now but it will soon reach the 2009/2010 price levels soon.
But on a more serious note. Does anyone here think BitcoinCash will survive? I have not dumped mine yet.
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It does not make any sense ...
the coins are doubled and 300-600$ is added to the value
does not make sense imo
Maybe the BCH pump was supported by fiat purchases directly and also the selling of altcoins for Bitcoin to buy Bitcoin Cash. All the value maybe came from fiat and altcoins. |
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If you want to gamble and make maybe 3x on the gamble, try buying small amounts of Bitcoin Cash slowly to control your risk as the price is going down and then buy fast on the rise to help the pump further. I believe another pump is on the way in a few days.
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I believe the rest of the exchanges will try to help Bitcoin Cash get traction by not opening their exchanges for BCH deposits to disallow people to dump their coins. It is also in their best interest because if a coin dies that means lesser profit for them. BCH/BTC has the potential to be a volume heavy trading pair.
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"What recourse do you have in case of paying by Bitcoin and getting scammed? "
the same recourse if you had paid with hard cash (fiat): none.
This is decentralized currency.... no "one" is in charge of it.
That is not a good argument. Do not drag fiat in the argument to get the attention away from the OP's question. The solution is of course to use escrow, although it is not trustless. |
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If the leading supporters of Bitcoin Cash like Roger Ver and Jihan Wu were really serious on competing against Bitcoin, then they should show their community that they are willing to sell all their Bitcoins in exchange for BCH. They should lead by example, not play the market.
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