Bcash Pump.
Leads to Bcash dump.Take care out there.Don't be the one to get fucked over...
Posted Oct 29, 2017, 11:03 AM UTC
320
BCH has risen around 50% in the last 24 hours, driven largely by insane levels of buying in Korea, where it commanded around 75% of crypto purchases today. What gives?
1
It's part of the combined B2X/BCH attack plan against Bitcoin. Read this: https://www.reddit.com/r/Bitcoin/comments/797ush/a_proposal_about_how_2x_attack_btc/?st=j9csun5d&sh=6b8f2e27
1
they figured they own enough it's gone so low that they can't allow it to drop further and are putting in their weight. Just let them bleed it, sell if you still have left, while they're trying to get it up toward 0.2 BTC/BCH again. They can maintain it at a high price, but nobody want's this centralised shit coin.
1
nobody want's this centralised shit coin.
That clearly isn't true. A lot of people want this centralized shit coin. People want it for trading.
If I take BTC at my hotel, at $50 a night for a room, I'm paying 10% transaction fees. Why not take BCH and when I get $1,000 or $5,000 in BCH and then convert to BTC and pay one transaction fee?
Some people are Americans and can't keep a "regular" account at Bitfinex. So, they lie and open a non-American account. So long as you don't trade in dollars, they don't care. You have to fund your account with something. BTC is too expensive so, they use ETH or Lightcoin. Well, why not BCH?
-1
Well, why not BCH?
Because BCH sometimes does not mine blocks for hours. Even 200% or 2000% in fees won't get you 6 confirmation in 12 hours.
If you could use ETH, LTC or DASH, why bother with BCH? What is the advantage?
2
I have a feeling that BTC is going to have this problem after the fork. Oh wait, it does already ;-)
0
Well, why not BCH?
Because it’s a centrally mined Via/Antminer coin, designed by dishonest miners. They are preparing a double attack against Bitcoin, using BCH and B2X to weaken and take over Bitcoin.
0
Do you know this as a fact or are you just parroting what you've read at r/bitcoin?
The "facts" on either side are quite confusing - both sides really make "good" points.
0
A few reasons for the rise in BCH:
-
Most of the selling from exchanges (people received the airdrop) have finished. We can expect to see more downward pressure in Jan when Coinbase finally releases theirs.
-
It is getting used for commerce. More and more businesses are taking it. So many hodlers are proclaimed that BTC is a store of value, not for folks making >$2 a day. And so, people are now using BCH to buy coffee. When you use it back and forth and then you want to buy some Iota or Monero, why convert your BCH to BTC. Just buy with BCH. And so, more people holding it incidentally and accumulating it in business sales. All it takes is a slight rise in price and people will hold it to spend next week. The cycle continues.
-
Some folks are nervous about the next hard fork and are looking for other places to take some profits offline. BCH has shown a very strong support at $300 (the "break even" point for many miners and backers). And so, if your low point is $300 and high point is > $300, why not use it to trade Alts and to sell coffee?
-
Gains beget gains. Price goes up, more people are convinced and jump on the wagon. Not unlike BTC.
1
So all those folks on $2 dollars a day are heading to the local coffee shop and paying with bcash? Presumably from the wallet on their new iphone....😅
3
Cheeky: I'm saying it has a place in the western world and in the third world.
Your average Ameircan/Aus/Canadian/European who wants to buy this and that ($5 - $50 - $100) purchases doesn't want to pay $3-5 per transaction. They're going to use ETH or BCH.
For a migrant to, say EU, who has family in, say in India, how do they send $50 a month back home? They aren't going to pay a $5 BTC tax to send it that's for sure.
0
Well as an average American/Canadian/European myself, I can assure you that my brethren and I will be using $/ GBP/Euro for the forseeable, future to purchase this that and possibly the other.. Crypto is still a nascent technology and scares/confuses the shit out of anyone but us torch bearers.Likewise economic migrants, by whom I am currently surrounded. The appropriate services for mass adoption are germinating.Don't fool yourself into believing everyone has the technical aptitude, desire to be, or simply the time, to be their own bank.
1
If you run a company that sends money from the US to Mexico or UK to India on behalf of workers, you have to send that money, via a bank wire, and pay fees.
If you can cut those fees by 20% or more, by trading outside of the bank wire process, and pass savings along to the worker, why not?
I can move $ from the US to Europe EUR for .5% in fees versus 1-1.5% for a broker or 4% for a bank.
1
For a migrant to, say EU, who has family in, say in India, how do they send $50 a month back home? They aren't going to pay a $5 BTC tax to send it that's for sure.
That's FUD and/or misinformation. BTC txs can be sent for <$1, especially with SegWit.
1
So says you, my last was $3.5 and I've read a LOT of posts people complaining about $4 and $5
Sorry, but because you think you know something and it doesn't match with other folks' ACTUAL experiences doesn't make it FUD.
And by the way, all this screaming of FUD reminds me so many millennials needing a safe space. You can have a discussion and criticism without it being FUD.
1
Last attempt is before 2x fork, then it serves no puposes becoming another shiuiit coin
1
Pump & Dump
1 down - 10,000 to go.And that's just in LA..