Miners pulling away from BCash

[alani123]

After the initial difficulty calcuation, BCash's hashrate went down to less than half and more miners are leaving through time. What this means for BCash is that it's dead or dying. Effects of the miner pull out include:

• Slow block creation time
• Likely never reaching the next difficulty retarget in time as more miners are expected to pull out
• Exchanges never enabling deposits as confirming them securely would be impossible

The last point would imply BCash's dead by all means. No support from exchanges would imply that there's be no incentive to mine this coin and therefore a total inability to facilitate transactions or use it in any meaningful way.

Remember that no exchange has enabled BCash deposits yet, all trading is happening with coins supposedly claimed through pre-existing deposits on exchanges.

[Knepala]

Maybe it's a little early for this conclusion? It wouldn’t surprise me if they still have some tricks up their sleeve. Let’s just wait and see.

[pearlmen]

After the initial difficulty calcuation, BCash's hashrate went down to less than half and more miners are leaving through time. What this means for BCash is that it's dead or dying. Effects of the miner pull out include:

• Slow block creation time
• Likely never reaching the next difficulty retarget in time as more miners are expected to pull out
• Exchanges never enabling deposits as confirming them securely would be impossible

The last point would imply BCash's dead by all means. No support from exchanges would imply that there's be no incentive to mine this coin and therefore a total inability to facilitate transactions or use it in any meaningful way.

Remember that no exchange has enabled BCash deposits yet, all trading is happening with coins supposedly claimed through pre-existing deposits on exchanges.

Its true to all you are saying and I am sure quite a number of people are equally observing how events will unfold in the coming days. Everyone does not expect that it be smooth and even those planning to dump are trying to be strategic about it. I feel its too early to make conclusions about it now as the coin is just evolving and the difficulty experienced is expected at the beginning. What matter most is will it get back on its feet long-term or not? Time will tell.

[Invester]

There will be a backtracking of BCash supporters for sure. I think many of the holders are either dumping immediately or holding for some time while waiting for things to unfold and make a decision from it. It seems this update with miners leaving BCash will be kind of a cue for them to abandon ship.

[cyyap95]

I'm thinking to same way too, but the current situation should be expected by them, so they might have some solution or strategy soon. (maybe?)
Anyway, just to add a small correction, ViaBTC allow us to deposit BCC, requires 1 confirmation to trade, and requires 20 confirmations to withdraw.



I sold BCC from first deposit, but need 20 confirmations to withdraw the BTC, and the second deposit seems it's going to take ages to arrive lol.
(That timestamp from screenshot is in UTC+8, which is about 6 hours ago for first deposit.)

There will be a backtracking of BCash supporters for sure. I think many of the holders are either dumping immediately or holding for some time while waiting for things to unfold and make a decision from it. It seems this update with miners leaving BCash will be kind of a cue for them to abandon ship.

Too bad for those retrieved their BCC from private key won't be able to dump them immediately anyway, those who stored their BTC prior to the split are lucky to be able to sell them for BTC immediately. 

[alani123]

Only exchanges that have allowed BCash deposits/withdrawals so far: HiBTC and ViaBTC
All others are operating on claimed balances from deposited funds. Could very well be subject to market manipulation and even deny withdrawals until a potential fail of BCash.

Notice the difference in the price and how big it is. HiBTC and ViaBTC highlighted