The Bitcoin Cash Flippening

Pretty simple really the community has been clamoring for a block size increase for years now and the devs have been actively fighting it. They managed to create enough division in the community to scuttle the last compromise (Segwit2x) and now people are rotating en-mass to Bitcoin Cash which has the larger blocks they want and doesn't have the divisive developers.

Very little surprising about this at all except for maybe the speed with which it is happening.

Re: The Bitcoin Cash Flippening

#7

Post by sillysaurus3 » Sun, Nov 12, 2017, 5:21 AM UTC

57 days ago, I said that it would be a good time to buy Bitcoin. If you'd listened to me, you could have made some serious cash since then. https://news.ycombinator.com/item?id=15259134

Back then, the price dropped to around $3k. One of the questions was "What makes now a good time to buy?" And the answer was simply "Bitcoin has been crashing."

The counterintuitive thing is, if you want to get into bitcoin, you need to wait for a crash and then buy.

Bitcoin is crashing. Again, it's a good time to buy.

Re: The Bitcoin Cash Flippening

#8

Post by pmorici » Sun, Nov 12, 2017, 5:25 AM UTC

sillysaurus3 wrote: post #7

57 days ago, I said that it would be a good time to buy Bitcoin. If you'd listened to me, you could have made some serious cash since then. https://news.ycombinator.com/item?id=15259134 Back then, the price dropped to around $3k. One of the questions was "What makes now a good time to buy?" And the answer was simply "Bitcoin has been crashing." The counterintuitive thing is, if you want to get into bitcoin, you need…

I don't think that is good advice this time. The combined market cap of Bitcoin Core + Bitcoin Cash is actually right at 7600 virtually unmoved. What is happening though is that the Core development team has used underhanded tactics to go against the wishes of the larger community for almost 4 years now and the Segwit2X cancellation was the final straw Everyone that believes large blocks are necessary are fleeing to Bitcoin cash.

If you were paying attention to the s2x cancellation and were a first mover into BCH and out of BTC you are making a killing right now.

Re: The Bitcoin Cash Flippening

#9

Post by sillysaurus3 » Sun, Nov 12, 2017, 5:28 AM UTC

pmorici wrote: post #8

sillysaurus3 wrote: post #7

57 days ago, I said that it would be a good time to buy Bitcoin. If you'd listened to me, you could have made some serious cash since then. https://news.ycombinator.com/item?id=15259134 Back then, the price dropped to around $3k. One of the questions was "What makes now a good time to buy?" And the answer was simply "Bitcoin has been crashing." The counterintuitive thing is, if you want to get into bitcoin, you need…

I don't think that is good advice this time. The combined market cap of Bitcoin Core + Bitcoin Cash is actually right at 7600 virtually unmoved. What is happening though is that the Core development team has used underhanded tactics to go against the wishes of the larger community for almost 4 years now and the Segwit2X cancellation was the final straw Everyone that believes large blocks are necessary are fleeing to…

We'll see. This is tea leaf reading. My record speaks for itself. I said two months ago to buy in at $3k. I'm going on record now: $5,800 is a pretty good buy-in price. Check back in two months.

It's simply hard to assign logical motives to overall movements in the market. As scientific minded individuals, we would love to believe there must be a motive. But sometimes there isn't one.

I think what's been happening is that the price has been going up and up, and it's been looking for an excuse to unwind. We're seeing it unwind now. That means the time to get in is now.

You should be equally suspicious of my words too, though. That's the tough part about trying to call the market. I'm just admitting it's hard.

Re: The Bitcoin Cash Flippening

#10

Post by laichzeit0 » Sun, Nov 12, 2017, 5:31 AM UTC

sillysaurus3 wrote: post #7

57 days ago, I said that it would be a good time to buy Bitcoin. If you'd listened to me, you could have made some serious cash since then. https://news.ycombinator.com/item?id=15259134 Back then, the price dropped to around $3k. One of the questions was "What makes now a good time to buy?" And the answer was simply "Bitcoin has been crashing." The counterintuitive thing is, if you want to get into bitcoin, you need…

Right now is as stupid time to consider getting rich off Bitcoin. Even if the price doubles or triples, you'll only make 100 or 200%. That might seem like a really good investment. Maybe if you put down $100,000. Otherwise, it doesn't mean much. The risk is too high.

Back when it was $10 or $40, it was a great speculation. The ship has long since sailed.