[2017-08-11] Bitcoin Cash Gains More Support

[nickbelski]

It’s been a crazy ten days for bitcoin enthusiasts as the network had its first high profile hard fork that split the network into two. During the first week, the Bitcoin Cash blockchain has pushed forward, and the currency’s market is thriving. Now two cryptocurrency payment processors, the Living Room of Satoshi, and Rocketr have announced supporting BCH on their platforms.

Bitcoin Cash Network and Market Thrives

The Bitcoin Cash (BCH) blockchain is moving along processing blocks and is currently thriving as a network. So far there’s been 408 blocks found on the BCH chain, and the currency has been trading heavily on exchanges. At the moment, bitcoin cash is trading at $300 per BCH and has the fourth largest cryptocurrency market cap. There are a lot of exchanges and cryptocurrency wallet providers that have decided to support the BCH network so far. Moreover, other types of operations like the marketplace Purse has also announced BCH distribution for customer funds held on the platform.

Digital Product Marketplace Rocketr Customers Can Now Use Bitcoin Cash at the Webstore

This week the digital products marketplace Rocketr has announced customers can utilize BCH on the webstore. Rocketr is a e-commerce platform for selling and delivering digital goods like files, programs, activation codes, software, and other services. The startup was founded in 2016 by Rob Danielson and accepts Paypal, bitcoin, ethereum, Stripe (credit cards), and now bitcoin cash. The company announced adding the currency on August 9 on Twitter stating;

        "We’ve just enabled bitcoin cash as a payment option. Accept it in your webstore today."

Bill Pay Platform Living Room of Satoshi Accepts Bitcoin Cash  

Another cryptocurrency startup called the Living Room of Satoshi has also revealed users can utilize BCH on the bill paying platform. The company founded in 2014 is a payment processor that allows Australian residents to pay electricity, rego, phone, and credit card bills. The Living Room of Satoshi announced supporting the currency on August 7. Since then people have slowly started using BCH to pay their bills with the Australian startup’s platform.

        "You can now use your bitcoin cash to pay your bills or cash out to a bank account at Living Room of Satoshi!"

So far it’s been a pretty decent week for bitcoin cash considering all the obstacles and its slow start. Further, news.Bitcoin.com reported that Overstock.com customers can utilize BCH at that marketplace thanks to Shapeshift integration. The cryptocurrency still has a long way to go for a nascent network that’s only a week old but despite all the naysayers, its seems BCH is here to stay.

Source
https://news.bitcoin.com/bitcoin-cash-gains-more-support/

[Rahar02]

BCH supporters trying to lift up their token, but still can't rise more than $400 obviously, because people still have plenty of free bch in their stash, ready to sell it as soon as its price increase to certain price such as $300-$350-$400. There's no chance for bitcoin cash right now, maybe if bitcoin segwit2x fail in November or mining bch more profitable than bitcoin, then bch could reach more than $500-$1000 again, and at that time, I will sell mine

[TraderTimm]

These idiots never stop, do they.

BCrash is trading at 328 and change, which is only ~9% of Bitcoin's worth.

Their alt-coin is also 1,048 blocks behind the main BTC chain.

This is non-trivial.

Ver, scam artist supreme, has been cashing out some of his BTC holdings to support BCH. We'll see how far this goes, because it won't be enough.

Trade it short term if you must, its longer term future is in doubt.

[CryptoBry]

I think we have to admit it that there is also a great possibility that eventually BitCoinCash (BCH) would be able to survive and take its place in the sea of cryptocurrencies we already have. However, there is no question that its place is that of an altcoin and not really as a possible heir to the throne occupied right now by Bitcoin.

For me, as I have sold my free BCH coin, I really don't care whether BCH would go on living for a long, long time or one day it can die out of fresh breathable air. Anyway, there is a fork coming in November maybe we should be ready for another round of free money.

[InvoKing]

I think we have to admit it that there is also a great possibility that eventually BitCoinCash (BCH) would be able to survive and take its place in the sea of cryptocurrencies we already have. However, there is no question that its place is that of an altcoin and not really as a possible heir to the throne occupied right now by Bitcoin.

For me, as I have sold my free BCH coin, I really don't care whether BCH would go on living for a long, long time or one day it can die out of fresh breathable air. Anyway, there is a fork coming in November maybe we should be ready for another round of free money.

For the bitcoin cash the survival odds aren't that low, with barely every bitcoin holder have an amount to trade it seems promising if it is well adopted.
For the next round of the November fork, better to take lessons from the first one and not rush selling all you have 

[fisheater]

This is good, that BCC will soon regain the number 3 position again. I think it is a pretty decent coin, just need time to stable and prove itself

[Xavofat]

It's not really gaining support.  It's just that during drastic dumps, people tend to overcompensate and cause the price to drop too far down.  The price almost always recovers a tad after that.

I'd say that BCH has settled down and found its place anyway.  Now it would be reasonable to have some long-term positions on it.  Personally I'm intending to sell.  Whether or not I buy in during a bear market later, I'm not sure.  It would be a shame to let my opinions cloud my trading judgement here, since ultimately I'm just in it to get more BTC anyway.

[monocolor]

BCC price is going down against BTC though, I hope its price will recover soon.

[btcton]

BCC price is going down against BTC though, I hope its price will recover soon.

It is also possible that Bitcoin Cash's value is simply fixed to and flows with fiat such as the dollar which means that when Bitcoin itself goes up, Bitcoin Cash does not. As a result, the reason it is going down against Bitcoin is because the absolute value of Bitcoin itself is going up, not because the absolute value of Bitcoin Cash is going down. Furthermore, the underlying reasons why Bitcoin does go up may not also affect Bitcoin Cash in the same way. For example, if retailers such as Walmart started accepting Bitcoin payments, the value of Bitcoin would surely increase given an increase in its liquidity towards assets such as store inventory. This would not affect Bitcoin Cash since it would remain unsupported and would therefore make Bitcoin cash move significantly down relative to the regular Bitcoin blockchain. Of course, I do not claim to be a trader or an asset analyzer so take all of this with a grain of salt.