Bitcoin Cash price can be easy manipulated, that's why people don't like and even hate BCH. How on earth will you invest and trust in any project that can be controlled by few major holders?
Only in the short term. This has always been the way of bitcoin whales. They throw around their weight, trying to fight the market. Then, after bleeding away their money, they are no longer bitcoin whales.
I hope that Roger Ver just wasted 25k bitcoins buying the Bcash top, but I suspect this will all take longer to play out. They'll pump it again. But in the end, I think these guys will end up burning a lot of money trying to prop the Bcash market up. Their coin has no fundamental value. I think opportunistic traders and bamboozled newbies are just chasing a pump. This will all end in tears.
IMHO it has more to do with BITMAIN, who has been requiring people to BUY BCH in order to BUY antminers for months? Had this not been going on BCH would have just died,
Take BITMAIN who owns 100's of 1,000's of BTC, it just sloshes back&forth like the "Mark Faber" model of the worlds money, I don't see much net-loss BITMAIN/ALIBABA want the "BITCOIN BRAND", they SELL BTC drop the price park their money in BCH, and then SELL, and go back into BTC, the little people get hurt, and the PRESS reports that BTC is unstable,
The game goes on until the assholes at NYA/BCH/SEG get their way
Best thing for the community to do is nothing, just sit back and watch the show,
AS YOU ALL KNOW eventually it all has to come back int BTC, these 'whales' chinese-billionaires aren't stupid,
But YES, the morons who follow the trend, the day-traders they get wiped out, cuz they're not in control of anything, they're just pawn
I don't why ppl just don't do what SATOSHI does keep it in cold storage, and enjoy the show, but never let you BTC near one of these criminal exchanges
Nothing is wrong here people the fee's are FINE, BTC is a rich mans currency, paying $5 to transfer $100k without GOV interference is a small price to pay.
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Lastly, I don't really understand the concern here, the average American doesn't have $500 USD in the bank, ergo he don't own a BTC, and most of the players own 0.05 BTC, the number or 'RICH' is small, and again most of these RICH made their money elsewhere and brought it in as a safe place to store, where it can't be stolen by gov, ex-wives, or the cops.
BTC will continue to RISE cuz the RICH have no place else to store their wealth, US DOLLAR will fail in coming years, expect to see BTC to raise dramatically.
CHINA knows this, this is why they're trying to steal the BITCON-BRAND today.
