To save bitcoin - stop buying bitcoin cash

[kelz1]

This dump was triggered by the battle of the hashes. If we remove bch and bsv from having any value it would discourage more pointless bitcoin dilution, and prevent further hash wars.

Failure to act will cause more similar situations in the future

[1715136462]

1715136462

[1715136462]

1715136462

[Herbert2020]

hash wars don't happen because of people paying attention to shitcoins like these two. hashwars happen when they pull the hashrate they own from bitcoin and put it elsewhere. and also it intensifies when they pump that shitcoin so that it creates incentive for miners to switch.
you can't prevent them from pumping their altcoin, the whole altcoin market survives on pump and dumps anyways. it just happens that pump of bitcoin forks have additional damages.

[Zin-Zang]

This dump was triggered by the battle of the hashes. If we remove bch and bsv from having any value it would discourage more pointless bitcoin dilution, and prevent further hash wars.

Failure to act will cause more similar situations in the future

The Dump is being driven by the CHINESE BITCOIN MINERS SHORT SELLING their own coins, because their mining is unprofitable,
and they need the fiat to keep the lights on.

BSV & BCH really have nothing to do with it.

 

[PointHope]

I dumped my BCH back on Bitmain in return for a couple of S9 Antminers.
Hindsight it might have been smarter to just buy some more BTC.
But hey the Antminers are making some BTC, so the ROI is already 100%..

Seems like these forking attacks are just making the Bitcoin network stronger and even more resilient than before.
So what forking forker Roger Ver and Bitmain have done is actually good for the long term global network standing. Albeit kinda scary for us newbies here.

[Haunebu]

hash wars don't happen because of people paying attention to shitcoins like these two. hashwars happen when they pull the hashrate they own from bitcoin and put it elsewhere. and also it intensifies when they pump that shitcoin so that it creates incentive for miners to switch.
you can't prevent them from pumping their altcoin, the whole altcoin market survives on pump and dumps anyways. it just happens that pump of bitcoin forks have additional damages.

I agree. The thing that so many people fail to understand is that pulling away hash power from Bitcoin is detrimental to the entire cryptocurrency market in the short term as well as the long term and the current Bitcoin cash debacle is the perfect example to demonstrate this particular problem.

I don't get why people fail to realize that Bitcoin cash suffers from heavier manipulation when compared to Bitcoin or any other altcoin for that matter, but people still continue to invest in it for some or another reason.

[Kakmakr]

It will also be good if people could cash in on their free forked coins and sell them to buy some Bitcoin <BTC> now, because Bitcoin Cash coins are going to zero <both forks>. 

You saw what happened with previous forked coins like Bitcoin XT.. right? Well after the hype has died down over Bitcoin Cash and the miners have pulled their hashing power, Bitcoin Cash forks will suffer the same fate. 

Sell Bitcoin Cash now, before they die and buy the real Bitcoin. <BTC> 

[kodtycoon]

Yes, I have also read everywhere if this hash war triggered the collapse of the market, but I only believe if the collapse of the market as such has become something in the scenario to prepare for the second big increasing. I just hope it will become a dream come true in next year.

[BitcoinHodler]

the problem is that most people have trouble claiming their free BCH fork coins since there is no decent simple wallet to use for dumping it and they are also afraid since they have been scammed with a lot of malware from all these fork coins in the past year. otherwise the BSV and BCH prices would have been dumped a lot harder than this after they forked.

[davis196]

This dump was triggered by the battle of the hashes. If we remove bch and bsv from having any value it would discourage more pointless bitcoin dilution, and prevent further hash wars.

Failure to act will cause more similar situations in the future

The Dump is being driven by the CHINESE BITCOIN MINERS SHORT SELLING their own coins, because their mining is unprofitable,
and they need the fiat to keep the lights on.

BSV & BCH really have nothing to do with it.

 

1.I thought that cryptocurrency mining is banned in China.
2.OP,there's no way to remove bch or bsv from the market.We can't just forbid the people to buy shitcoins.
3.I think that the bitcoin cash drama isn't the main reason for the BTC price dump.

[mu_enrico]

There are many factors affecting bitcoin price, not just the hash war. Even if you could restrict BCH and BSV trade, there is no guarantee that BTC price will rise significantly. Thus, your argument is false.

Furthermore, in a free market, people are free to buy and trade whatever coins they deem worthy. Don't worry too much about this bear market. Just do dollar cost averaging, plus go for the long position, and you will be fine.

[pptIox]

Stop buying altcoins would be a better way, not just bch, all altcoins are actually dilutions of bitcoin.
If we can't stop buying altcoins, then the same can't stop people from buying bch.
In this market, more people are pursuing short-term money, not real value.

[OmegaStarScream]

I couldn't agree more with the post above. The statement in OP is more valid when it comes to the other altcoins then about BCH and BSV.

If everyone sells the altcoins they got, and I'm referring to the ones that literally has no use (and believe me, there are many), the forked coins will have no impact on the market anymore.

[MainIbem]

The market and everything crypto is really a confusing stuff. There are too many fronts to fight - Government, Whales, and now infighting. It is commonly said that a house divided against itself will not stand. It is looking more like the killer punch of this crypto war is rather within than from outside.

[hv_]

hash wars don't happen because of people paying attention to shitcoins like these two. hashwars happen when they pull the hashrate they own from bitcoin and put it elsewhere. and also it intensifies when they pump that shitcoin so that it creates incentive for miners to switch.
you can't prevent them from pumping their altcoin, the whole altcoin market survives on pump and dumps anyways. it just happens that pump of bitcoin forks have additional damages.

The hashwar happend because there is now a strong player disrupting Bitmain. Why is that bad?

The idea of SV is to keep the Bitcoin protocol on purpose and clean, open to onchain scaling as much as economics and tech is able to allow. Why is that bad?

Only a minimalistic protocol (like smtp, or TCP IP) is really able to bootstrapping world wide and removes all sorts of middle men including protocol devs.

[azalea69]

Nothing can stop Bch and SV, both of these coins have been circulating in the market and the market has received it, maybe the time is giving an answer. Indeed, when bitcoin is down and needs time to recover, be patient, everything will go according to the process and promote bitcoin again it's worth doing.

[talkbitcoin]

This dump was triggered by the battle of the hashes. If we remove bch and bsv from having any value it would discourage more pointless bitcoin dilution, and prevent further hash wars.

Failure to act will cause more similar situations in the future

The Dump is being driven by the CHINESE BITCOIN MINERS SHORT SELLING their own coins, because their mining is unprofitable,
and they need the fiat to keep the lights on.

BSV & BCH really have nothing to do with it.

 

1.I thought that cryptocurrency mining is banned in China.
2.OP,there's no way to remove bch or bsv from the market.We can't just forbid the people to buy shitcoins.
3.I think that the bitcoin cash drama isn't the main reason for the BTC price dump.

the FUDsters have lied so much that it is hard for them to keep track of all the lies they have told so that they don't contradict with themselves. one day they say China has banned bitcoin and miners have sold and are burning their ASICs on the streets. the next day they say China controls 90% of the hashrate and owns 90% of the bitcoin.

as for BCH it is pretty on paper that if you stop buying bcash it stops affecting bitcoin but in reality you are talking about the market. when they pump bcash you can not stop traders from going in wanting to make profit.

[charlotte04]

This dump was triggered by the battle of the hashes. If we remove bch and bsv from having any value it would discourage more pointless bitcoin dilution, and prevent further hash wars.

Failure to act will cause more similar situations in the future

If there is a coin that would surpass Bitcoin then why should we try to not to? There would always be some other ways to collaborate with those two and in fact they are both digital.

[Whaletale]

I don't think this should be taking personal , be it hash war or not btc suppose to see the down and even more to come , I just find all these fud as an excuse to manipulate the market and nothing more , so SV or ABC will go their way and btc also has it own role to play as no one disturb each other , just little problem of sharing the hash cause some war and the better the two now that the dip btc go the more less chance for them to grow too.

[jademaxxiss012]

No, this is just a reaction and soon cryptocurrency will going to recover soon. if not then clearly cryptocurrency has no direction and it will going to end soon also. Only people who brought up cryptocurrency could help the system to be more accepted by the people around the world.

[luispitchler]

most likely, a lot are not aware of the effect so they continue to buy bitcoin cash.   i honestly believe that very few really understand how cryptocurrency works.  i am not an expert either.