Hold Bitcoin or Bitcoin Cash ?

[Sherlock]

Long term the future of cryptos will not be decided by how large the fanbase is, but by trust weighted by real money.

I did not sell BTC for 0.05, but I have some orders between 0.15-0.20 and I sold a bit more at that range. There are few people jumping on BCH bandwagon, but apart of Calvin Ayre, who I fully respect for not cheating me over years, all the others are scammers/weirdos/fachidiots.

Once BTC brings L2 solution, BCH is done. IF BCH does not do something quickly it will follow ETC. And the cards are not good for BCH, there will be big dump from coinbase and more and more people retrieving BCH coins from their wallets, so the effective supply goes up.

This is not an anti-BCH post, just how I see it after the impressive attack from early November.

[eaton2003]

Fellow Bitcoin Holders (or Hodlers if you are).

The split has occured and BitcoinCash is alive (just) - taking around 6 hours to mine a block.
This will be sorted over time as the algo will detect the long delay and make it easier to mine BCH (Bitcoin Case).

But for those of us who have picked up new BCH tokens the question is now what to do with them?
Currently BCH are around 245 and BTC are 2750 - so 1 BTD is approximately 11 BCH

So I see four choices.
1/ Keep BCH in parallel with BTC. (hold both)
2/ Sell the BCH to BTC. (Maximise BTC while BCH price is holding some value)
3/ Sell the BCH for cash (Take the money as a dividend)
4/ Sell some BTC for BCH (Hey - maybe you think the BCH is the future).

What are you going to do?
Will you sell BCH quickly, hold and wait, or buy more?

I'll probably take the middle ground this week - hold and wait - how about you ?

I still hold some BTC but did change a lot of my BTC to BCH at 19 BCH to 1 BTC and I am happy I did as I sold at 2k and brought back my BTC and had some nice chunk change. Still waiting for a crystal ball to see should I hold, sell or do what in the future as the market is super volatile to predict.

[BestBonusBets]

It cost 0.001btc for a trasnaction today.. would have loved that BCH fee's..

[TheGooner]

It cost 0.001btc for a trasnaction today.. would have loved that BCH fee's..

Except of course no-one wants BCH. No-one is transacting in it.

BCH blocks are small and empty - which is funny because they're positioned as "big blockers".
Nothing more than 200 transactions per block - frquenlty below 100 transactions.
https://blockchair.com/bitcoin-cash/blocks

[Sherlock]

And most of the transactions are payments to exchanges I bet, where the coins are being sold from reclaimed coldwallets.

There is few millions of funded addresses of BCH.

[Breakfastman]

I've sold all my BCH a while ago and I'm not planning on buying back. No faith in the people/tech behind it. I'm now 60/30/10% in BTC/ETH/alts, doing very little trading and just hodling for the longer term.

[yeahfree]

i'm curious how many bch are actually in use. not everybody claimed them.

[Breakout Affiliates]

Except of course no-one wants BCH. No-one is transacting in it.

BCH blocks are small and empty - which is funny because they're positioned as "big blockers".
Nothing more than 200 transactions per block - frquenlty below 100 transactions.
https://blockchair.com/bitcoin-cash/blocks

Please explain to me why we didn't move to BCH after Segwitx2 was cancelled

[Sherlock]

Because people trust BTC more so it keeps #1 coin?

Btw. Segwit2x was not cancelled. Some blocks were mined. It was buggy. BTC was quite close to disaster.

[Voids]

Well $10,000 was broken through rather soundly.

[safecasinosm]

Waiting for the big boom... 10K for just a bitcoin isn't normal, its a bubble. We will see the "correction" soon.

[TheGooner]

Please explain to me why we didn't move to BCH after Segwitx2 was cancelled

Who would move to Bcash (BCH)?

While Satoshi's whitepaper may not have envisaged segwit, the segwit technology gives options of some pretty exciting developments in the future for BTC. And BTC retains 80% of the mining power and 95% of the development effort.

Compare that to BCH - which is a project run by a megalamanic who considers it "my project", and is primarily backed by a few centralised miners who want nothing more than to keep their ASIC advantage in mining blocks.

BCH is centralised money - a rich mans plaything - it's nothing like Satoshi's vision. BCash has little appeal as a basis for future endeavors.

It's appeal right now for low value users is cheap fees because NO-ONE is using it. But politically it's already a dead movement.

[Sherlock]

I just hope for one more BCH pump to get rid of it after this amazing bitcoin performance. I feel another altcoin bubble, so let everyone picks up his favourite shitcoin and let's cheer for it

Bitcoin and cryptos really killing my will to do anything, especially with the scam affiliates everywhere.

The surge just today made me approx. the same money I made as affiliate during whole my life. And I was almost offline whole day trying to shop at Ginza, because my prepaid card expired.

Funny story: I went to some expensive jewelry shop with my gf to buy her some platinum set or what she saw there to celebrate the 10K mark. They refused to even show it to us. Probably because I did not shave myself for month+ and I wear my bit aging favourite tracksuit that survived trips in deep woods in the north. ****. They do not know they missed the deal of the day.

[TheSpry]

Crypto's are crazy.

It's nice to have been 'forced' into this by the pain in the ass of getting paid easily via banks and governments.

Thanks for forcing my hand into bitcoin. It's been the ride of a lifetime and **** I still think it all has a nice long way to go. But who knows.

[Muppet]

Who would move to Bcash (BCH)?

While Satoshi's whitepaper may not have envisaged segwit, the segwit technology gives options of some pretty exciting developments in the future for BTC. And BTC retains 80% of the mining power and 95% of the development effort.

Compare that to BCH - which is a project run by a megalamanic who considers it "my project", and is primarily backed by a few centralised miners who want nothing more than to keep their ASIC advantage in mining blocks.

BCH is centralised money - a rich mans plaything - it's nothing like Satoshi's vision. BCash has little appeal as a basis for future endeavors.

It's appeal right now for low value users is cheap fees because NO-ONE is using it. But politically it's already a dead movement.

This is my assessment exactly. And it sounds like you've been watching Ver's hilarious recent interview exploits...

BCH is needless. If you want low fees and quick transactions Litecoin is already a better option... 2.5 minutes between blocks / confirmations and fees are near zero.

[TheGooner]

If you want low fees and quick transactions Litecoin is already a better option... 2.5 minutes between blocks / confirmations and fees are near zero.

Agreed - or Ether (ETH) with blocks every 15 seconds or so.

I think in time people are going to realise that there is more than BTC in the crypto eco-system.
That there are several good top 10 coins that offer viable transaction options to replace bank accounts and credit cards online.

----------------------------

This is why I think that "bitcoin casino" as a phrase is already out of date - bitcoins will not be used this way.

Coin Casino, Token Casino, Blockchain Casino or Crypto Casino ??
Not so sure any of those stick really ...

But eventually a good phrase that means all of these things will come into common usage (not just BTC specific)
THOSE will be the phrases to dominate and the domains to have I think.

[Muppet]

I'm wary of Ethereum as I believe it has fundamental security issues. Allowing Turing complete programs on a blockchain that also serves as a store of wealth is a recipe for disaster as has been exhibited several times already, most recently a few weeks ago where someone from the Parity wallet accidentally locked up $300m in funds. These sort of things are going to happen again and again. And the fork imposed a few years ago after the DAO hack shows that there is a risk that you can have your funds lost at the whim of a person or centralised group with power.

But you are right, there are plenty of other alts that do a better job than Bitcoin for transacting in small amounts, many in all of speed, privacy, and cost. Whereas all BCH has is short term lower costs and that is because no-one uses it. The alts will really come to the fore should the lightning network and atomic swaps be successful as you will be able to pay in one coin and have it automatically converted to the other. What will the point of BCH be then?

[Sherlock]

All recent top 10 blockchains combined can not compete even as sum by orders of magnitude with VISA. And they will not be able if the security has to be maintained it seeems (there are tests with blockchains 100-1000x bigger than bitcoin, BCH camp is happy with it, but nobody tested how robust such a network is).

So either the solution will be layer2 (or layer2+3) or it the solution will be 1 crypto out of blockchain that will be used by everyone.

And no, there will not be 10 coins used by real people. Normal people are not able to do much easier things about finances. To think that they somehow hold X cryptos from Y and they do not **** it up in big scale (they see which blockchain is not congested; they do not send money to address of different blockchain, they are able to count the exchange rates etc etc.) is absolutely out of my imagination. Not even nice multicurrency wallets like Coinomi will solve it.

Yes we are able to do this with 1% of our brain capacity. But people like my mother I can assure you... no way. This will not copy the market with mobile phones.

Now it is just one important question:

Will bitcoin scale through LN or other way (even more centralised)?
I think it is historical necessity that it will. But you can bet that people will b1tch about it much more than until now.

[-Shay-]

Sounds like a certain government organization is trying to get their hands on certain info from Coinbase.

[universal4]

Thanks shay,

Time period covered by the summons
the period January 1, 2013 through December 31, 2015

It requested nine categories of documents including: complete user profiles, know-your-customer due diligence, documents regarding third-party access, transaction logs, records of payments processed, correspondence between Coinbase and Coinbase users, account or invoice statements, records of payments, and exception records produced by Coinbase’s AML system.

I think it is only a matter of time until the IRS re-files a new petition, likely expanding the scope as well as the time frame.

Their lawyers will improve each subsequent filing getting closer to getting it to pass the objections the earlier filings failed on.

Rick
Universal4

side note: I suggested a few years ago that the IRS would work toward trying to force exchanges to follow KYC rules and regs, as well as suggesting that any that co-operated with them would be given more leeway in doing business in the US. That filing shay linked to shows it to be a correct assumption.