Post
Topic
Board Altcoin Discussion
Re: Bitcoin Cash fork and its effects on Bitcoin
by
bellamae
on 13/11/2017, 07:35:38 UTC
Charles Hayter, co-founder of crypto exchange service CryptoCompare, for example, noted that he believes consumers may be misled by the option to choose between two competing coins – and he wasn't alone.
"In the long term, these two variants will cause confusion with their similar naming which no doubt will cause some problems," he said. Because of issues like these, and others perhaps unforeseen, Van der Chijs said he expects the combined price of bitcoin and Bitcoin Cash to fall below $2,700, the average recent price of bitcoin as observed on the CoinDesk Bitcoin Price Index (BPI). Kevin Zhou, operator of crypto hedge fund Galois Capital, responded similarly, arguing that he believes the fork will be "lopsided" in how it allocates the underlying network effect between the two competing technologies.