Hold Bitcoin or Bitcoin Cash ?

[PROFRBcom]

https://www.reddit.com/r/Bitcoin/com...e_daily_until/

I came across this post on Reddit and though I'm unsure if it is 100% correct in its assumptions, it does seem like good advice that could help everyone who uses (and HODLs) btc.

[PROFRBcom]

I agree that outsmarting the market at every corner is impossible. But it is possible to bank on information. Remember Calvin Ayre here few weeks ago. He was strong proponent of BCH. I really do not like BCH. But Calvin supporting BCH means something. He is a good businessman, everybody doing business with bettingpartners must confirm that (sympathies or antipathies aside). He sees things that we do not see. So this stopped me to dump most of my BCH. If price will be good and/or BP will pay in bcash, I will maybe rebuy (even when it will be a loss). Such events occur. Not always, but they do. And those events should force us to put money where we see the value.

For what it is worth, and many people are still unaware of this fact, Calvin Ayre's former (lol) gambling businesses support Bitcoin Cash. And they have supported it for months. The automated payment system is not in place yet, but behind the scenes, they quietly added support for BCH transactions. You have to contact support directly, but they will hook up players with instructions and addresses for deposit.

We wrote about this months ago, as evidenced by our quote that the BCH market cap was 5 billion at the time https://professionalrakeback.com/pai...s-bitcoin-cash

[Sherlock]

https://www.reddit.com/r/Bitcoin/com...e_daily_until/

I came across this post on Reddit and though I'm unsure if it is 100% correct in its assumptions, it does seem like good advice that could help everyone who uses (and HODLs) btc.

It is not correct and I am active in that thread, so I have no power to repeat myself too much.
I mean Segwit is nice, but at this point is too late to go for it. After all there are funds on several millions nonSegwit addresses and those funds have to be first moved to Segwit addresses.

So if people actually follow the advice and paid the ridiculous fees now, they will cripple the network completely.

[MMM]

Question to you guys here.

I lowered my BTC position, but feel that a bit too much so looking for an entry point. For me seems that 10k is reasonable. Not to catch a day/week trade but longer. What do you think? Having hard time seeing it go back to 7k area...

[Sherlock]

It is too much responsibility to give such an advice. Trust yourself. You will get 10 opinions from 10 people who are probably not that much invested as you.

My advise is follow fundaments and do not sell something you like and do not buy something you dislike.

If you are not doing this, you are the fish. As our gambling customers are. This is gambling and much more addictive than any other form. There are plenty of people who got burned in shorting crypto position (the ones not playing with margins at least did not lose fiat). By orders of magnitude more people ended out of game compared to the people who became rich. This is another test of weak hands, but now with a bit of salt from stubborn btc devs.

[WagerX]

It is fun (even when I just had the worst day for my networth in my life today).

Yup, same here. 40% down based on USD EQ. Honestly, I don't mind too much. We have to test new highs and pull back. For example, 10k BTC doesn't seem too expensive now..


Hey Sherlock, you wrote: "This is another test of weak hands, but now with a bit of salt from stubborn btc devs."

Do you think the BTC devs will get BTC up to speed on utility? POS is so much faster and more efficient. Do you see hope for BTC? It feels like they are an inflexible institution, disregarding their weaknesses at their peril.

[Sherlock]

The devs are what Germans say "fachidiots". As all, or ok most, devs are. No, they do not care about those things in a way normal business people do. I spent now a lot of time talking to different people or creatures. Bitcoin biggest enemies are the nonflexible devs who do not understand the market. They do not understand what money is. They love to make cryptografic things ultrasecure but the price is the trust of normal people.

There is exactly zero chance they will speed something up. If you read this: http://www.erisian.com.au/meetbot/bi...19.01.log.html then ok, to be objective, they see mempool state now as a problem, but they will in no way divert from the roadmap. Like the bigger blocks will come after LN (that will not be here in few weeks or months), after Segwit adoption (that does not work as expected, because people and businesses are stupid, irrational, lazy and also because the Core wallet does not have Segwit adopted [ok, if you read the link here, they talk about it as priority, but on core wallet is based majority of vendor's wallets]).

They literally force market to be more effective by batching the transactions for example (it is sending more bitcoins at once at lower price, which is btw. something that no affiliate program does, but for a good reason and it is higher anonymity). They argue that there is still a lot of space to be saved with Segwit+mass payments. The most crazy ones suggest to do transactions either via altcoins or via hubs like Coinbase. When you argue that bitcoin is actually needed by grey economy like gambling, they are so ******* sure that they do not need DNM or gambling anymore, because bitcoin is the digital gold or whatever, that I am stunned. If transactions move elsewhere, so moves the network effect and value. Most devs are much smarter people than we altogether, but they simply do not realize this as they probably underestimate human relationships at all.

Those guys will not help at this moment. I mean, I think the bitcoin 1st mover and network effect is strong, but it is under stress test now. If bitcoin survives even this, which means the snail pace will force people to adjust, then it will be stronger than ever. But I would rather pass on that test. Either way, we are not important. We can just observe and place our bets. Good sign for bitcoin now is that the drop of price now is still bigger by altcoins than by bitcoin.

[gregory.krupa]

yes another altcoin like dogecoin

[ocreditor]

Did anyone actually made a profit from ICO's so far ? .. during this year..

[Roulette Zeitung]

Real Bitcoin News

Bitcoin down from 20,000 to 11,000 within a short period in the last weeks.

Bitcoin exchange "Youbit" goes bust after hacker attack.

South Korea will now stop this insanity and plans to regulate the crime currency.

German financial supervision and German Central Bank are warning about a possibly total loss.

Manhunt: Bitcoin funded dark web drug trafficker Joel Prime caught!

Leopold

[Sherlock]

https://www.urbandictionary.com/defi...?term=nocoiner

[Roulette Zeitung]

When there are no more arguments against facts, then one can see the true weakness of people.
Either they insult you or call you conspiracy theorists or give you silly links because they have no more bullets, had never one single bullet in reality, only a good chart in the meantime.
When they are debunked due to a statement from a live White House Press Briefing, then the same people, still with no arguments against facts are linking to staff, that can also debunked within seconds.

From your link, Sherlock:

"Nocoiners have little to no computer skills"

I was part of a phone phreaking group with members of Germany and Belgium and with some importance in the last century to show e.g. the backdoors in German nationwide phone system and have already repaired computers and software when you was a little child and sucking on your thumb.

I have had also 200+ voice mail boxes and answering machines under my control from scammers, MLM frauds and huge company owners who have beaten their wife or children. In this cases I changed e.g. the public recording texts of all their internal telephone devices, so that the customers, when they called, could hear the truth about them without the knowledge of the companies. This was another time, a time of the real computer revolution, a time you and people like you have absolutely no idea about, why and what we did.

Until today Germany is the worldwide central of white hacking with the highest skills on that. We hated and fought crackers every single day. In my small circle, we did what I mentioned before with the phone systems to stop criminals, fraudsters, perverts and bullies, not to harm any ordinary people. This was more successful than a #metoo hashtag, where also innocent people's life can be unproven destroyed by anonymous accusators due to revenge or something else. Also the real victims of sexual harassment will suffer under this fact in the long run, latest before the Midterm Elections, when we will see again a flood of anonymous or also fabricated accusations.

A guy, who obviously believes, Nazi Germany still exists and started here with a disgusting fisting quote as signature - what a wonderful signal to the reading women here - such a guy must live with facts and also when he tries to discredit on the lowest level his opponents, who are simply fighting criminals.

To be clear: You are using here a complete anonymous account and promoting a dangerous pseudo-currency, that is in major part only used by criminals, as the latest facts proof in my latest post here in this thread from today, but people like you obviously don't care about crime, and it is easy at all for you, because you have not to fear any consequences, if people will lose money due to blind promotion like from a multi level marketing propaganda machine.

Thank Goodness, a regulation will come, and then everything is transparent and can be monitored not only by Homeland, and if the 70%-80% criminal part of Bitcoin is wiped of the map, then everyone can start again with a 3.000 or 1,000 Bitcoin, the real value and can still make money but knows, that he does not support child killer, monsters, that cannot make their live stream tortures without Bitcoin, because they don't accept cash or other things, only Bitcoin!

Leopold

[Sherlock]

When there are no more arguments against facts

Dares to say someone, who says btc crashed to 11K, when it is at 13K, never went down to 11K and is significantly higher than 1,2,3,4,5,6,7,8,9,10,11,12... infinite amounts of months ago.

Or the hack of Youbit exchange that is absolutely insignificant (it just has a confusing name, Yobit is a big exchange; youbit.co.kr vs. yobit.net). The exchange had only 4K coins and only 17% of it was stolen from hotwallet. Which is after all why hot wallets exist and why people who are not idiots try to keep money off exchanges.


Keep on FUDing or educate yourself finally.

[DanHorvat]

Did anyone actually made a profit from ICO's so far ? .. during this year..

I invested some small money and the tokens are now worth 80% more. But I can't actually sell my tokens until the ICO is completed, until mid February.

[safecasinosm]

A lot of fluctuations the last month. I think its better wait till end of first quarter and then decide to buy or not. Perhaps we will see bitcoin price around 5K again.

[ocreditor]

I invested some small money and the tokens are now worth 80% more. But I can't actually sell my tokens until the ICO is completed, until mid February.

That's a nice profit, from what I see 90% of the ICO's are total crap, but good to hear that some are worth investment.

[PlayHunter]

Looking in retrospective of 6 months, as of now, those who by then sold their airdropped BCH for BTC did better.
But not better than those who sold BCH when Coinbase listed it !

I would say, for the long term ideally is to keep both BTC and BCH in a 1:3 ratio. If you have 2 BTC, strive to hold 6 BCH as well.

[ocreditor]

Looking in retrospective of 6 months, as of now, those who by then sold their airdropped BCH for BTC did better.
But not better than those who sold BCH when Coinbase listed it !

I would say, for the long term ideally is to keep both BTC and BCH in a 1:3 ratio. If you have 2 BTC, strive to hold 6 BCH as well.

Interesting, so from the investor perspective you believe that BCH in the long term will be worth more than BTC ? or you recommend this ration based of current value of both coins ?

[Sherlock]

Looking in retrospective of 6 months, as of now, those who by then sold their airdropped BCH for BTC did better.
But not better than those who sold BCH when Coinbase listed it !

Yes.

I would say, for the long term ideally is to keep both BTC and BCH in a 1:3 ratio. If you have 2 BTC, strive to hold 6 BCH as well.

No.

That is just a pure numerology. There is no magic formula what to hold or not and even less based on past performance. Buy and hold the coins you think are perspective and relatively cheap.

The only reason why to buy some coin (or anything) is if you think market is evaluating it below the potential.

For example I dislike BCH less and less, but no way I would keep 3x more BCH than BTC.

[PlayHunter]

Interesting, so from the investor perspective you believe that BCH in the long term will be worth more than BTC ? or you recommend this ration based of current value of both coins ?

Perspective, not based on current valuations. It all depends on how soon and how well BTC will deliver with implementing its lightning network.