Bitcoin vs BitCoinCash: From Flippening to Floppening?

[iamTom123]

Last week, we have witnessed Bitcoin suffered a great decline as many started to migrate their hoard from Bitcoin to BitCoinCash seemingly because of the lack of confidence on Bitcoin and anticipating that BCH would further grow. Unfortunately, BCH was not able to hold on to its potential and people started to get soured. Right now, many are dumping and jumping back to BTC which is having a great time right now already in the vicinity of $8,000 and can be experiencing another ATH.

Many started at that time to promote the idea of THE FLIPPENING which as I understand it is the time when BCH would finally clobbered the number 2 position held by Ethereum for a long time. That could be the time when BCH would finally take a good hold as the first alternative to Bitcoin and maybe the official heir to the throne.

Unfortunately, things did not went well as wished...so they are now calling it from FLIPPENING TO FLOPPENING! Do you think BCH would be making another comeback...maybe next year even after this debacle? And as far as Bitcoin, what are the big lessons we should be learning here?

[pooya87]

Unfortunately, things did not went well as wished...

things never go as people wish, but they always go as they are planned.
the FUD about some shitcoin replacing bitcoin has always been around and it has been used a lot. the word "flippening" however was used by the ethereum advertisement team. and each time this method is used, the said shitcoin is pumped a lot. in case of ethereum they pumped it to 0.14BTC, in case of bitcoin cash they pumped it to 0.34BTC and surely enough, each time it only lasts a short time before the dumping begins. that is inevitable.

it is all good though! it helps us, the early adopters to earn more bitcoin as long as bitcoin is cheap. to have a bigger stake in this scarce currency when the mass adoption is achieved.

[jseverson]

It kind of sucks because I really believe that this incident with Bitcoin Cash was no coincidence. It seems like a plain old pump and dump, and lots of people took it hook, line, and sinker. There's no way to tell for sure who benefited from this, but Roger Ver and friends are high up in my list of suspects. He moved his coins to make it look like he's about to dump for BCH, but it doesn't look like anything of the sort happened.

Still, Bitcoin Cash did grow a little bit from where it started, so there's that, at least. That was their chance to overtake Bitcoin and it was obviously just smoke and mirrors. It sucks for the holders, and it sucks for the community that people can get away with this kind of manipulation.

[kueyen]

Although I'm sad people lost their money, I think such incidents are beneficial for cryptocurrency users in the long run, so that when sketchy things like this occur in the future, people will learn to be skeptical and not take the bait.