Re: [ANN] Bitcoin Cash - Fork 1:1 of Bitcoin - Pro on-chain scaling
SCARY TRUTH INCOMING!
Total coins for sale on Bittrex HASN'T CHANGE MUCH AT ALL!!!!!
It was just under 9K listed BCC post fork... it is now only 9200ish listed. No deposits or withdrawals. Enjoy your bubble because the moment deposits open you will all be dumped on.
If hashrate does not return, because no one can exchange their minted BCC, miners will turn elsewhere. Without a significant portion of the total ASIC hashrate, there is no reason for this coin to keep its inflated value.
Total coins for sale on Bittrex HASN'T CHANGE MUCH AT ALL!!!!!
It was just under 9K listed BCC post fork... it is now only 9200ish listed. No deposits or withdrawals. Enjoy your bubble because the moment deposits open you will all be dumped on.
If hashrate does not return, because no one can exchange their minted BCC, miners will turn elsewhere. Without a significant portion of the total ASIC hashrate, there is no reason for this coin to keep its inflated value.
That is speculation. Nobody knows the "value" of this coin or any other crypto-coin. Just because you got it for "free" doesn't make it have no value. Those who think that way already sold between .05 and .20. Those might end up being good trades a few hours/days/weeks from now. Nobody knows. I would not have guessed the value would be over $1,000 USD day two.
Everyone is right about volume being low because we can't deposit our BCC/BCH and trade/sell. But any good trader will also tell you that if they want to accumulate this coin they will wait for the REAL volume to sell. I suspect the price will dip once we can deposit coins on the exchange. The dip may be permanent or it may just be shaking all the weak hands who "want their free money". I don't know how anyone calls this "free money". I worked real hard to accumulate the BTC I now hold, so the BCC is not free money to me. It has a value and the market is trying to figure that out.
Does any exchange allow margin trading / shorting of BCC/BCH? I am on Poloniex and am able to short other coins.
No.
It's reality.
These are blockchain based assets. They NEED the blockchain to move around. If they have no blockchain, it is a DEAD asset. Regardless of the current price on any exchange. If you can never move it off the exchange, it is effectively worthless.
I'm also starting to think enabling trading before establishing if it would be a meaningful network going forward was a mistake. Yeah, some people are gonna make a pile of cash of it (I got my fifty bucks last night. Whoop!), but if the network does die off, a lot of people are also gonna get burned. And being so closely linked to Bitcoin main chain, it will pick up undeserved bad publicity in the fallout.
