BCH threat to BTC?

[suvo05]

After 1st aug BCH value getting down as it was expected and 2 days ago it was about 0.07btc/bch. It was also expected that it would be more down after 14th Aug as poloniex credited bch to their customer that day and was expected that it will me dumped.  But now it is surprising last two days .It price rise up nearly 0.2btc/bch. Is it threat to BTC market??

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[slackcryptoz]

It doesn't seems to be a threat. As bitcoin cash got evolved from the chain it gained more popularity in a short rather than other altcoins. In a short a panic situation prevailed causing a price increase and dropped after price. Now once again it has started to pump much higher and cross $850. Let's wait and see what's gonna happen.

[European Central Bank]

anyone surprised by this pump needs to get out more.

there's less of it.

it was created to spook bitcoin.

roger ver announced the pump.

the koreans are so stupid they poured into it thinking it was an upgraded bitcoin.

it's the best pump and dump coin ever as it has that baked in flippening fear.


it also has 100% centralised mining and development so is basically the paypal of roger ver's dreams.

the real threat is the 2x coin if it happens. that would be a whole world of mess compared to this.

[hatshepsut93]

Look at BCH from technical point of view - does it have any innovation? The answer is no, there were coins with big blocks since the time people started making altcoins. Does it have any roadmap or team of well-known and skilled developers? No, BCH is just a copy-paste, anyone could have done it before, the only reason it gains some traction is because Bitmain and Ver have invested in marketing, paid shills, propaganda, FUD to get some attention for their coin. In the long run it's not sustainable, Bitcoin will have network stability and well-tested improvements, while most alts will be just a fuel for pump-and-dump schemes.

[2double0]

It was really a pump and I managed to get out at my buy price, thanks to those who pumped it.
I thought BCH could be something huge because BTC is falling and BCH seems more profitable to miners in terms of mining but it turned back and is facing a downfall once again, so no more worries for BTC. The only thing that's confusing me here is who is mining BCH other than ViaBTC?

[European Central Bank]

The only thing that's confusing me here is who is mining BCH other than ViaBTC?

no one. viabtc is bitmain, the mystery miner is bitmain too. bitmain created it and bitmain is subsidising it to the hilt.

[bitbunnny]

It was really a pumped and I managed to get out at my buy price, thanks to those who pumped it.
I thought BCH could be something huge because BTC is falling and BCH seems more profitable to miners in terms of mining but it turned back and is facing a downfall once again, so no more worries for BTC. The only thing that's confusing me here is who is mining BCH other than ViaBTC?

Bitcoin is falling? What are you talking about, this makes no sense? On the contrary, Bitcoin is on the rise and BCH is just another altcoin that on long term has no perspective. It's just a lot of marketing and many people connect it to Bitcoin that is why BCH got big attention. But there is nothing behind it.

[2double0]

The only thing that's confusing me here is who is mining BCH other than ViaBTC?

no one. viabtc is bitmain, the mystery miner is bitmain too. bitmain created it and bitmain is subsidising it to the hilt.

But according to the news, Bitmain rejected to support BCH atm, right?
Then how did they come back into the picture and why would they leave BTC? Bitmain is a huge company and if they would have switched, BTC's difficulty would also have adjusted and BTC could have shown some signs of dump as they have been a major part in the BTC mining network.

It was really a pumped and I managed to get out at my buy price, thanks to those who pumped it.
I thought BCH could be something huge because BTC is falling and BCH seems more profitable to miners in terms of mining but it turned back and is facing a downfall once again, so no more worries for BTC. The only thing that's confusing me here is who is mining BCH other than ViaBTC?

Bitcoin is falling? What are you talking about, this makes no sense? On the contrary, Bitcoin is on the rise and BCH is just another altcoin that on long term has no perspective. It's just a lot of marketing and many people connect it to Bitcoin that is why BCH got big attention. But there is nothing behind it.

What would you call a dip from $4500 to $3900? A 10% fall right? OR a correction wave?

[brainb52]

Has been lots of fud articles on coindesk which seems to affect markets.  

[European Central Bank]

But according to the news, Bitmain rejected to support BCH atm, right?
Then how did they come back into the picture and why would they leave BTC? Bitmain is a huge company and if they would have switched, BTC's difficulty would also have adjusted and BTC could have shown some signs of dump as they have been a major part in the BTC mining network.

do you really believe them?

they must have hundreds of tons of mining machines going spare, either returned, repaired or slightly obsolete. they may as well put them to use with something that fits their agenda.

they can still adhere to the 2x thing and have enough capacity to play elsewhere.

[alex_rada]

It's far from a threat, actually it's more of a joke.
It's too bad a lot of naive people will lose a lots of money to some greedy bastards whom orchestrated this scheme.

[blanchharris]

Whew I'll tell ya waking up to a $1000 BTH was pretty surprising and had me questioning the choice to sell my BTH day 1. But after reading into it more I bet we see it slowly dip back down under $500 by this time next week. woulda been a good pump to get in on tho 3x in a day eh?

[25hashcoin]

Yes. BTC is doomed. Has entered the chain death spiral. Bitcoin Cash will be the winner.

[European Central Bank]

Yes. BTC is doomed. Has entered the chain death spiral. Bitcoin Cash will be the winner.

great. 100% centralised mining and what little development there is.

that sounds exactly like the bitcoin we've all been pining for.

can't wait.

[Thatstinks]

Whew I'll tell ya waking up to a $1000 BTH was pretty surprising and had me questioning the choice to sell my BTH day 1. But after reading into it more I bet we see it slowly dip back down under $500 by this time next week. woulda been a good pump to get in on tho 3x in a day eh?

Its just begun, wait until tomorrow!

[Pearls Before Swine]

I highly doubt it.  Right now it's barely catching on as a decent alt coin,
and as far as being a threat....don't think it's going to happen.  And
that's not to say it won't get inflated by speculators,  because I think
it will.  It might even get close in price to bitcoin, but I suspect that it's
never going to be a true competitor.

[jackmafacka]

Yes. BTC is doomed. Has entered the chain death spiral. Bitcoin Cash will be the winner.

LOL your BCH already dropped 30% today mate. BTC up a hair at the same time. I think you're on a pipe dream w/ the $1,000 BCH price this morning.

[CrackedLogic]

I feel as if it is. The fact that it's an official "split" noticed by almost everyone who's invested in bitcoin and actually use it for business is quite threatening in my opinion. There's a small minority of people who actually understand the meaning of bitcoin cash and similarities to altcoins. The public view bch as the most viable option for bitcoin as of its faster transaction times etc. The only reason why we feel *bitcoin legacy* is not threatened is mostly due to its popularity. Sooner or later the two coins will reach an equilibrium in quality,cost and acknowledgement.

Then again, it is *only* another altcoin

Yes. BTC is doomed. Has entered the chain death spiral. Bitcoin Cash will be the winner.

LOL your BCH already dropped 30% today mate. BTC up a hair at the same time. I think you're on a pipe dream w/ the $1,000 BCH price this morning.

What are you talking about? It's currently up by 30%(net) if that isn't good as of the last 72 hours, I don't know what is.

I don't want to support bch, but if it becomes viable, I may just.

[Yakamoto]

After 1st aug BCH value getting down as it was expected and 2 days ago it was about 0.07btc/bch. It was also expected that it would be more down after 14th Aug as poloniex credited bch to their customer that day and was expected that it will me dumped.  But now it is surprising last two days .It price rise up nearly 0.2btc/bch. Is it threat to BTC market??

It is probably on par with most other altcoins when it comes down to being a threat; meaning that it's probably pretty close to being a non-issue. If there was more indicators that pointed towards BCH becoming a large, competing crypto then I would be a bit more convinced. If you look at the market, though, it is going on a downtrend after the initial rise, it had a high likelihood it was being manipulated by whales, and still hasn't cracked $1k. The market also had next to no activity between the fork and the past day or so, meaning that it is pretty obvious that it is a pump done by a whale. As one other user said, Roger Ver was likely talking about it already.

[iluvpie60]

It could be a threat to Segwit Bitcoin yes. Just as ETC is a threat to ETH, but I think ETH has much more robust avialable options.

Is BTC implements Segwit and goes forward with some other changes most people want, I don't see how it would be threatened by Bitcoin Cash if that makes sense.