It went to almost 200K and is now down to around 115,000. Even at this level, the fees is unsustainable. And do you know the worst thing about this whole episode? We can't blame the miners for this. It is not their fault. See this: https://blockchain.info/blocksAll of them are making use of the 1 MB block size limit. |
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Bitcoin is way better than bitcoincash. Everyone can see that bitcoin is even popular and stronger than it. It has also many users and there are a lot of wallet you can use for Bitcoin.
So i would go for bitcoin, because bitcoin is already back at his price, and bch is dropping.
None of this actually matters for me. The only negative with Bitcoin Cash (as far as I am concerned) is that it gives the big miners too much power and completely pushes out the medium scale and small scale miners. And there are plenty of wallets where you can store BCH. You can go for hardware wallets such as Ledger and Trezor, or online wallets such as Blockchain.info. |
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I think it is over
Nope. It is not over. The exchange rates of BCH increased from $300 per coin to $2,000 per coin and then it underwent a correction. Right now it is trading at around $1,300 per coin, which is a 333% increase from the rates one month back. And please take a look at this, and you will come to know why I am so bullish about Bitcoin Cash: https://blockchain.info/unconfirmed-transactions |
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Right now Litecoin looks quite promising. It has been around for a while, and the rumors are that a few of the heavyweights have thrown support behind that currency (especially in east Asian nations such as China, Japan and South Korea).
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The cancellation of SegWit2x is going to be a boon for some of the alts such as Bitcoin Cash and Litecoin. Apart from these two altcoins, I have high hopes for a few others, such as Waves, Monero, Byteball and Stellar Lumens.
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i think the recent statistic shows that this altcoin is taking over and is gaining traction whereas BTC is reducing i think that even the next fork (segwit2x) will revolutionary with much less fees.
Altcoins are losing out to BTC and the BTC clones (BCH, BTG.etc). Right now the combined market share of BTC+BCH+BTG is close to 70% of the crypto-coin capitalization. Compare this to the figure of 45% which we had a few months back. Alts such as ETH and XRP have lost their market share. |
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$20 billion? Seriously? But Bitcoin Cash market cap is only around $20 billion right now. So that means that most of that money was used for short selling and other margin trade. Another thing I have noticed is that most of the BCH volume is concentrated in a few of the East Asian exchanges - such as Bithumb & Coinone (South Korea), Bitfinex (Taiwan), and Huobi (China).
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It is really being insane that the price is 7000 USD. This makes the investors go away from Bitcoin and try to invest in something else. Also Bitcoin owners and miners try to mine and sell directly after that because they think that Bitcoin price is very high and on its TOP .
It was near the 7900 usd actually. But overall it was much bigger then most of us expected. It was overpriced probably with all these news about 2x coming and futures in chicago exchange. Right now is correction. I don't see anything bad for bitcoin still. They are playing with us but they can not force us to do what they want if we think by our own and analyzing the market carefully. I am not sure whether this is a correction or not. I am looking at the BTC and BCH prices. When BTC dipped from $7,800 to $6,200 per coin, Bitcoin Cash rose from $300 to $1,500 per coin. And these movements occurred simultaneously. So rather than a correction, it was Bitcoin Cash eating in to the market capitalization of Bitcoin (proper). |
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I really think that hoarding bitcoin is somehow not good. The reason why people want to earn bitcoin is for them to earn money for daily daily expenses or to buy things that they want. It is good to hold some bitcoin, however, don't deprive your self of the things that you want or need. It's good to spend bitcoin from time to time.
How many stores and shops are accepting Bitcoins right now? Not many. And if I really want to spend my Bitcoins, then I need to create an account in the dark market sites and do shopping there. It is not something that I want to do. If there are ample opportunities to use our coins, then most of us will use them for shopping and other purposes. |
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Bitcoin Cash perhaps. When I got my coins as airdrop on August 1, I thought about selling them. But then I decided against it. And look at the rates now. BCH is going at $1,400 per coin. Now I need to make a similar decision with Bitcoin Gold as well. I think that I will hold on to those coins as well.
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Recently, there has been a lot of interest from the mainstream media and the investment giants. It was further helped by the developments in Japan (where the currency was legalized along with the crypto-exchanges) and the announcement by the Chicago-based CME Group that they will be launching the Bitcoin futures.
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IMO if they really plans to mine Bitcoin then BCH will soon be dead. Russia already said last month that they will tax cryptocurrency mining but it sucks that companies need to apply and pay taxes for them to start mining Bitcoins while in other countries you're free to mine whenever you want.
Considering how cheap the electricity is in Russia, you would still be making a profit after paying the tax (I think that the tax is around 13% of the total profits). In Russia, they generate most of the electricity from the gigantic hydro-powerplants (such as the one in Angara River), nuclear power-plants and thermal power-plants. No trouble with the environmentalists, and therefore the electricity is quite cheap. |
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It has increased to 173,372 transactions. Considering a single block can accommodate ~2,000 transactions, it is going to take another 80-90 blocks to clear this backlog. And I have noticed something really weird. Check this: https://blockchain.info/blocksCheck block # 494078 (mined by Bitfury). They wasted around 800 KB. Seriously? Right now they need to do that? |
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I payed $20 for a BTC transaction 2 hours ago, still 0 confirmations.. how long do you reckon it could take ?
LOL... seriously? Guys, if this is true, then Bitcoin is royally fucked. I assume that the transaction contained a lot of dust, but I heard from one of my friends that he paid an astounding 1,111 Sat/Byte for his transaction. The tx fee is going up and up. Where is it going to stop? At 10,000 Sat/Byte? |
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It seems that bitcoin clones - bitcoin cash and bitcoin gold will compete with the original bitcoin after a certain time. What we see recently gives reason to believe that the struggle between them for the championship will still be. So far, bitcoin seriously nothing to fear. He has a sufficient reserve of community trust and a decent gap in value. However, what will happen next, we'll see.
Bitcoin Cash can pose a serious threat to Bitcoin, as it is having some of the most powerful backers. I was watching the exchange rates today, and at one point 1 BCH was 0.41 BTC, although later it fell back to around BTC0.233. I don't know much about Bitcoin Gold, but its futures exchange rates were rocketing up in exchanges such as YoBit. |
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I am also wondering what is the force behind this sudden rise in price. It has been an awesome and massive profit taking for those who hold Bitcoincash. Good for them.
It's all quite transparent. You still don't know what is behind the quick rise in BCH exchange rates? Check this: https://blockchain.info/unconfirmed-transactionsWhen was the last time we had more than 127,000 unconfirmed transactions in the queue? |
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Only 45-50 days are remaining and I am quite bullish on Bitcoin Cash. Here comes my prediction:
BTC prices: $7,000 per coin. I expect BTC to recover a bit during December.
BCH prices: $3,500 per coin and I expect BCH to climb by another 200% during second half of November and December.
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Why $6,000? And why not $5,000? Two things are happening right now. The value of Bitcoin is going down (down by 20% during the last 48 hours) and the value of Bitcoin Cash is going up (+200% since the last 2 days). I am neither selling, nor buying any BTC until the situation becomes clear.
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In one of the topics I read "If bitcoin will reach $10.000, fiat currency has become worthless"
Do you agree with this statement?
No. As long as fiat can be exchanged for goods or other currencies then it will have some worth. Its worth comparable to the dollar will have decreased but it certainly will not be worthless. Worth of fiat when compared to the Dollar? Dude, the United States Dollar itself is a fiat currency. And if I am not wrong, then it is the fiat currency having the largest market capitalization (somewhere around $2 trillion). |
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A few of the billionaires are known to have invested in BTC. But a lot more have made indirect investments in Bitcoin, through hedge funds and investment agencies. The exchange rates have increased by 3,500% during the past 18 months. For sure a majority of the billionaires might have noticed it.
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