Bitcoin cash - who is buying?

[erre]

I sold all my coins @0.07 the first days, seemed to me a coin with no future, just a very inelegant solution to the mempool spam, not solving malleability and not adding anything to bitcoin.

Now it's surging, and I'm getting worried a made a very bad decision.... meh, I wouldn't be rich anyway.

But the question is: who the hell is buying? I understand that some people are holding, but there is some buying pressure that I can't justify enough thinking that some company like viabtc (which already lost a ton of money by mining) are the only entities pumping bcc.

Who is buying this shit?

[klarki]

Artificially created demand.
I would refrain from buying.

[Stephencb]

There is no doubt about the EB that it has risen sharply

[European Central Bank]

pumpers. just like every other coin out there.

it's the perfect pumper coin. there are people eager to offload them because it was free. it's got the 'omigod it's replacing bitcoin' fomo baked into it.

i don't think it's going anywhere. there's too much money to be made from the scared and lazy.

[joseafonso123az]

The buyers might are pumpers and maybe some big guys behind BCH. Pumpers and dumpers are the traditional traders, who try to see if they can have gains while doing it, and the big guys might be the ones that wanted BCH to exist, and are trying everything they can to maintain and rise BCH price

[BitcoinHodler]

let me put it this way:
when bitcoin started having issues such as higher fees and spam attacks, it opened up room for altcoins to get pumped big time. we saw this year how they were pumped. i mean literary every single altcoin, even those that were dead and worth half a satoshi were pumped. and these issues are not going anywhere for some more time so that room is still open for pumping altcoins and that is how BCH will survive and rise.

in short if you have been enjoying the altcoin pumps so far, you will also enjoy BCH pump the same way. if you were losing money because you didn't know what the hell is going on, then you better stay away from BCH.

[pavelna07]

Yea several weeks ago it was all about doom and gloom and suddenly situation shifted 

[erre]

let me put it this way:
when bitcoin started having issues such as higher fees and spam attacks, it opened up room for altcoins to get pumped big time. we saw this year how they were pumped. i mean literary every single altcoin, even those that were dead and worth half a satoshi were pumped. and these issues are not going anywhere for some more time so that room is still open for pumping altcoins and that is how BCH will survive and rise.

in short if you have been enjoying the altcoin pumps so far, you will also enjoy BCH pump the same way. if you were losing money because you didn't know what the hell is going on, then you better stay away from BCH.

Completely wrong. This issues (and others) will be resolved in 2 weeks after segwit activation, when the protocol becomes operative.
This Btc issues ARE resolved by segwit, we just have to wait less than 2 weeks to see it... really people don't know this?

[alyssa85]

But the question is: who the hell is buying? I understand that some people are holding, but there is some buying pressure that I can't justify enough thinking that some company like viabtc (which already lost a ton of money by mining) are the only entities pumping bcc.

There are two groups of people buying. The first are doing so as a hedge in case bitcoin dies (look at the transaction backlog, and the shock amongst the poor old noobs on the bitcoin subreddit that segwit didn't fix things - if both the backlogs and the fees increase and increase and increase, people will start abandoning bitcoin).

The second group are buying bitcoin to actually move money. Again it's because of the bitcoin backlogs. If you are moving money from exchange to exchange, you either use bitcoin, pay high fees and then wait days on end, watching anxiously as the price moves while you wait helplessly. Or you move money using a coin that actually works - Ethereum, Litecoin or Bitcoincash. Some people are using Dash, Monero and Doge to move money. Basically anything but bitcoin, which looks like it is broken.