11–20 of 241 posts
So I had some bitcoins at time of the fork. Do I have the other new coins as well? How can I spend, sell or buy them? Is there a multibit for bitcoin cash?
Earlier quoted context omitted.
This line of argument makes little sense. In the markets that do offer a way to buy and sell it, there's still a market setting the price. This idea that there will be totally different market forces at work once more people have access to the market is silly. I would not buy a $400 BCH today if I wasn't also willing to buy a $400 BCH when transaction volume is 1000x what it is now. If anything the fact that there's…
People who want to buy BCH have relatively unrestricted access to the market since most of the exchanges have reopened BTC deposits. (Of course, whether they can withdraw that BCH is another story entirely.) Most people who want to sell do not have access since BCH deposits are either not available or require multiple days worth of confirmations. Can you see the problem here?
There is no need for anyone to have BCH in hand today, no reason for someone to value a BCH today more than a BCH in a week. If they thought that thousands of people selling BCH once they are able will lead to a drop in price, they would just buy at the lower price.
So I had some bitcoins at time of the fork. Do I have the other new coins as well? How can I spend, sell or buy them? Is there a multibit for bitcoin cash?
So I had some bitcoins at time of the fork. Do I have the other new coins as well? How can I spend, sell or buy them? Is there a multibit for bitcoin cash?
Earlier quoted context omitted.
This line of argument makes little sense. In the markets that do offer a way to buy and sell it, there's still a market setting the price. This idea that there will be totally different market forces at work once more people have access to the market is silly. I would not buy a $400 BCH today if I wasn't also willing to buy a $400 BCH when transaction volume is 1000x what it is now. If anything the fact that there's…
So I'm not a bitcoin nor market expert but jandrese laid down his opinion, which sounded like it made sense to me. I was hoping for a well informed response but your comment just reads like you wanted to call names versus explain your reasoning why you think jandrese's argument doesn't make sense. Perhaps's that's not what you intended but if you had an explanation for why parent's response doesn't work I'd love to r…
Because there is greatly reduced liquidity of BCH (most exchanges don't support, hard/slow to deposit into exchanges that do), supply of BCH is artificially limited at the moment. Proponents of BCH can trade their BTC for BCH at a rate greater than they believe it is worth to easily pump the value and 'market cap' (most market cap stats have no measure of this 'locked supply') to make BCH appear more popular than it is at a fraction of the price that would be necessary if selling was easy. This could sway more miners to choose to mine BCH over BTC, and in doing so, actually increase the real value of BCH.
From: https://www.reddit.com/r/btc/comments/6ooorn/small_blockers_...
I really don't see how this fork is going to go down as anything other than a boondoggle. Right now the value of BCC is being propped up by having almost no way to actually sell it, but once an actual market opens I fully expect its price to crash hard.
This line of argument makes little sense. In the markets that do offer a way to buy and sell it, there's still a market setting the price. This idea that there will be totally different market forces at work once more people have access to the market is silly. I would not buy a $400 BCH today if I wasn't also willing to buy a $400 BCH when transaction volume is 1000x what it is now. If anything the fact that there's…
Not trying to minimize BCH, but if you don't see that, look at what happened when people had trouble withdrawing from Gox, or when BitFinex had issues with USD withdrawals. It leads to pressure on the price.
Earlier quoted context omitted.
So I'm not a bitcoin nor market expert but jandrese laid down his opinion, which sounded like it made sense to me. I was hoping for a well informed response but your comment just reads like you wanted to call names versus explain your reasoning why you think jandrese's argument doesn't make sense. Perhaps's that's not what you intended but if you had an explanation for why parent's response doesn't work I'd love to r…
My point is that there is no driver for the price to crash. There will not suddenly be a surprise supply of BCH found that will flood the market. Everyone knows that there is 1 BCH for every BTC out there, and that almost none of that is currently able to be exchanged on a market. That includes every single person who is driving up the price of BCH by purchasing it in the limited markets where it is available.
Earlier quoted context omitted.
People who want to buy BCH have relatively unrestricted access to the market since most of the exchanges have reopened BTC deposits. (Of course, whether they can withdraw that BCH is another story entirely.) Most people who want to sell do not have access since BCH deposits are either not available or require multiple days worth of confirmations. Can you see the problem here?
You're saying that people buying BCH right now aren't aware that there's a huge glut of supply waiting to flood the market, and aren't taking this into account in their buying decisions? There is no need for anyone to have BCH in hand today, no reason for someone to value a BCH today more than a BCH in a week. If they thought that thousands of people selling BCH once they are able will lead to a drop in price, they w…
Earlier quoted context omitted.
People who want to buy BCH have relatively unrestricted access to the market since most of the exchanges have reopened BTC deposits. (Of course, whether they can withdraw that BCH is another story entirely.) Most people who want to sell do not have access since BCH deposits are either not available or require multiple days worth of confirmations. Can you see the problem here?
You're saying that people buying BCH right now aren't aware that there's a huge glut of supply waiting to flood the market, and aren't taking this into account in their buying decisions? There is no need for anyone to have BCH in hand today, no reason for someone to value a BCH today more than a BCH in a week. If they thought that thousands of people selling BCH once they are able will lead to a drop in price, they w…
There are hundreds of rubes who see "Bitcoin Cash" and think that because it suddenly jumped to the 3rd largest cryptocurrency by market cap, lots of people are talking about it, and its cheaper than Bitcoin, this could be their chance to get the elusive short-term 3x+ crypto ROI. Many of these people have no concept of the locked supply.
I'd estimate that roughly 1/4 of buyers are informed BCH proponents, the other 3/4 are low-information get-rich-quick hopeful speculators.