BITCOIN CASH is probably DYING

[fatlever]

Bitcoin Cash seems to be in a death spiral.  It doesn't have enough hashrate, well sometimes it does and sometimes it doesn't.  The miners are gaming the Emergency Difficulty Adjustment (EDA) and you sometimes you don't get a block in hours and hours.  Miners are jumping back and forth between chains to trigger the EDA and game the system for fast blocks and easy money.  Sometimes you have ~50 blocks in one hour.  

This is creating a scenario of high inflation where you have a a lot more coins that are mined and dumped.  Coins that there is a lack of demand for.  So the price is dropping.  50 blocks in an hour with their EDA isn't what Satoshi designed for a coin that touts itself as being faithful to Satoshi's original design.  

Add to that Bitcoin Cash supporters are supporting Segwit2X for no other reason than their hatred of Bitcoin Core.  The crazy thing is, this might effectively kill off Bitcoin Cash.  First the downward price trend of Bitcoin Cash might also not just be the crazy block times and inflation above but more BCH supporters will be selling at least some BCH to get BTC so they get both Segwit1X and Segwit2X at the fork.   This trend probably will continue.

Additionally, if there is a fork Segwit1X and Segwit2X will be competing for Hash Rate and I am not sure where that leaves BCH which already struggles with hashrate at times especially if the price downward trend continues.  

Bitmain seems to be doing what it can to save it's baby, accepting only BCH for its miners and I now see BCH advertisements in places like Blockchain.info.  It feels like BCH is on life support.

[Emoclaw]

Bitcoin Cash was, from the moment it came out, dead on arrival.
8MB blocks are bound to render running a full node impossible. This has been known from the start and these events now don't help at all.

[Indrawan77]

From the first appearance there were so many rejection, some people blamed BCH for the decreasing of bitcoin price and you can see how people reacted after BCH is out, people directly sold their coin for bitcoin, so actually from the first BCH already lack of interest

[fatlever]

This is interesting, do you mind expanding - for the benefit of a newbie, why the larger block size causes a problem?

Large block size leads to centralization.  Bitcoin was intended to be decentralized where anyone could be willing to run a node and help keep a healthy network with lots of nodes which aren't controlled by a few people with a lot of resources and money.  

I just took a quick look where my full node is being run and the Bitcoin data directory is 147GB and in the last couple of days the node has sent 36GB and received 9GB of data.  This blockchain size and specially the bandwidth is already rules out a lot of people even here in the US running a full node.  

Do you really want a future with ony data centers capable of running a full node and a few people controlling the network?  

BCH supporters have no problem with centralization and love the Chinese mining cartel monopoly and their coin Bitcoin Cash.  Even then the same mining group is jumping back and forth gaming the EDA in Bitcoin Cash and making easy money.  Bitcoin Cash claims to be fast like intended but when the miners leave so they can get easy coins when the difficulty drops, a block can take forever.  Then they come back for easy coins and you get a block in minutes.  BCH supporters then say look BCH is so fast and ignore the hours block time when the miners left.  

This is also creating inflation and price drop in BCH coin dumps.  And BCH will be severely impacted by the November fork and further competition for hashrate.  

[AtheistAKASaneBrain]

It was always clear to me that BCash would never get anywhere, but I was too lazy to dump it, so I hope it pumps one last time before the final death, because i don't want to make small gains off this. If they are going to attack us with hardforks, at least we can get good gains with it, so im hoping Roger Ver and Jihad Wu pump the shitcoin one last time then I will dump it hard.

[Red-Apple]

EDA was as stupid as it was needed. and it was obvious from day one that this fork is what miners want. they wanted to make money. it is pretty simple and they have been playing everyone to make that money. even people who were stupidly supporting bitcoin cash were being played by these miners to make them richer.

i don't think it will die this soon though. they still have some deep pockets and lots of manipulation to throw at this.

[okae]

It was always clear to me that BCash would never get anywhere, but I was too lazy to dump it, so I hope it pumps one last time before the final death, because i don't want to make small gains off this. If they are going to attack us with hardforks, at least we can get good gains with it, so im hoping Roger Ver and Jihad Wu pump the shitcoin one last time then I will dump it hard.

Haha, you, like so many people apply the same strategic but don't worry i'm pretty sure that there will be some pump time to time, so people will have more opportunities to dump his coins faster than the speed of light xD, anyway and from my point of view this coin will have no future, looking on who are behind the scenes made me think that, R. Ver and J. Wu....who the hell still believe on those guys?

[alyssa85]

The main reason the price is dropping is because Bitstamp and Xapo finally released the bitcoincash they owed their members from the August 1st fork.

Unsurprisingly people are selling, and the combination of supply suddenly available and people dumping them forces the price down.

[bob123]

In my opinion Bitcoin Cash died the Moment it was Born..
8mb blocksize is just too high to have a full node running on a private small pc.
People just used Bitcoin Cash to trade them to get BTC.
BTC Cash might rise One more time.. but this timeframe should be used to dump the coin.

[European Central Bank]

it's gonna carry on going down for now but i don't believe it'll go anywhere. there's much, much more insulting coins that are doing well. it's prime pump fodder and pumpers won't give that up.

let's see what happens with the coinbase coins. that's gonna be a tidal wave.

[joebrook]

Bitcoin Cash was, from the moment it came out, dead on arrival.
8MB blocks are bound to render running a full node impossible. This has been known from the start and these events now don't help at all.

Bitcoin Cash actually wasn't all that bad at all, it made some people even richer when their exchanges gave them the free bitcoin cash which they then proceeded to sell to gain money and later used to buy bitcoins. There is nothing as money appearing out of nowhere and that's how bitcoin cash was made.

[Granxis]

I think it's not meaningful to think so negatively, I did not see  huge price drop. The future of bitcoin cash will be in a nicer place.

[bassong]

Hopefully it falls flat on its face and sells below $10, anything under $50 will be a great price to buy in. I wonder if thie price will fall that low.

[KourtneyK]

Bitcoin cash is most likely expected to die. Most traders that have been here for some time around say it is a coin not worth anything in the future. That's why most people dumped them right after they got them from the fork.

[Andre_Goldman]

Bitcoin Cash seems to be in a death spiral.  It doesn't have enough hashrate, well sometimes it does and sometimes it doesn't.  The miners are gaming the Emergency Difficulty Adjustment (EDA) and you sometimes you don't get a block in hours and hours.  Miners are jumping back and forth between chains to trigger the EDA and game the system for fast blocks and easy money.  Sometimes you have ~50 blocks in one hour.  

This is creating a scenario of high inflation where you have a a lot more coins that are mined and dumped.  Coins that there is a lack of demand for.  So the price is dropping.  50 blocks in an hour with their EDA isn't what Satoshi designed for a coin that touts itself as being faithful to Satoshi's original design.  

Add to that Bitcoin Cash supporters are supporting Segwit2X for no other reason than their hatred of Bitcoin Core.  The crazy thing is, this might effectively kill off Bitcoin Cash.  First the downward price trend of Bitcoin Cash might also not just be the crazy block times and inflation above but more BCH supporters will be selling at least some BCH to get BTC so they get both Segwit1X and Segwit2X at the fork.   This trend probably will continue.

Additionally, if there is a fork Segwit1X and Segwit2X will be competing for Hash Rate and I am not sure where that leaves BCH which already struggles with hashrate at times especially if the price downward trend continues.  

Bitmain seems to be doing what it can to save it's baby, accepting only BCH for its miners and I now see BCH advertisements in places like Blockchain.info.  It feels like BCH is on life support.

I think Bitmain, as hardware manufacturer, is doing a good job (supply chain management, chip energy consumption research etc) doing some analogy[1] in my mind .. I think the problem is that the "free market economy" can become too much unpredictable (reasons for EDA!?) ... I'm not surprised that they like the "Chinese approach to management" ( socialist market economy, or as Germans says "Soziale Marktwirtschaft" ) ...

[1] Centralization Vs descentralization

[bitcub]

Yup, Bitcoin Cash is born to die early. Lols, If I can just margin sell this downto $100 I will hehe. Dont worry guys, another coin will arrive this year. The "Bitcoin Gold" another coin to dump hehe. After the hardfork, we will see a new variant of BTC from our wallets. I think this is not as good as Bitcoin Cash, but we can keep it and dump it once it goes up.

[fatlever]

I think it's not meaningful to think so negatively, I did not see  huge price drop. The future of bitcoin cash will be in a nicer place.

It's produced around a Block Per Minute the last hour.  I think Satoshi intended a block like every 10 minutes.  At a block per minute, that is a lot of coins for miners to dump.  It's dropped almost $50 since I started this thread. 

Approaching the hard fork quite a few BCH holders will want more of the BTC split and sell BCH.  Plus, you have 2 bigger chains to compete with for hashpower.  I know we have a lot of BCH Supporters shilling how BCH is the real BTC and it'll take over but I'd really consider what's happening before you lose more money. 

I mean I don't have a crystal ball but the trend and what's happening do not favor holding BCH. 

[jakezyrus]

Bitcoin Cash was, from the moment it came out, dead on arrival.
8MB blocks are bound to render running a full node impossible. This has been known from the start and these events now don't help at all.

lol yeah, and the fame of bitcoin cash is only 1 day since it was born and after that we dont have heard any news anymore on what is happend to bitcoincash now and most people including me are not using or investing it anymore , infact i sell all my bch the day it came out. for sure sooner or later this coin will become obsolete someday.

[layoutph]

True, because it has no support from the community , no merchants are using it, then the price is dropping. Soon the price will be 100usd just a fraction of BTC. Wait for the Nov hardfork, new coin will appear from no where they called it Bitcoin gold.

[xaxistech]

I knew it from the beggining, that is why i dumped my bch just when i received them on my wallet, i sold them at $890/each, so i made a very good bussiness with my bch, i dont understand those people who still believe that the price will be higher than bitcoin, and i saw a lot of them saying that, i never understood if they were kidding or if they said it seriously, dont know yet.