BTC hodler with a question
I’m looking at the market cap for BCH. Does that include all the dormant coins from the split? Not trolling honest question
Posted Nov 21, 2020, 4:21 PM UTC
817
Yes. BCH and BTC split in Aug 1st, 2017. They share the same blockchain before that date. For example Satoshi have the same amount of coins on both chains.
https://bitinfocharts.com/top-100-dormant_3y-bitcoin%20cash-addresses.html
3
So if I forked bitcoin now my new coin would have a 200B market cap?
1
If you can convince someone to buy coins from your chain for $18k, yes.
8
Fork bitcoin to your new chain, 'sell' a satoshi to yourself for $1 and you have a bazillion marketcap.
marketcap metric is pointless on cryptocurrencies.
6
No. There is no airdrop but instead simply value split so the total market cap remains intact at the time of split. Also, the number market cap is only meaningful when the market is liquid, otherwise washing trades can fake a price.
1
Every fork does not create new coins, that's a mental model people use to describe what happens.
What happens is the chain gets fractured 1 Bitcoin consists of all its active forks.
Bitcoin = BTC + BCH + BSV + Shit Splits.
You can for the chain now, the market cap would be whatever people were willing to pay for the forked coin. see BTG or Bitcoin Diamond.
0
That's absurd, not all coins exist on all chains. More total blocks have been mined on one chain than another, and those extra coins have no counterpart on the other chain. Even when the shorter chain catches up in block height, the coins from the same-height block have no address history in common. They are simply different coins.
1
You can validate it. Just take any address that existed on the block chain before the fork and you will see it existed and while it may have moved it still exists from that origin.
What has happened is the chain has forked and some forks are being extended. so 92% of all bitcoins exist on all chains obviously not the new coins, those carry a higher risk and an even grater risk if you swapped one for another.
and those extra coins have no counterpart on the other chain.
correct and I'm saying these coins the last remaining 20% to be issued are insignificant. So until you know which chain is the winner you should treat the chain as fractured.
Bitcoin is whatever you think it is, I tend to think of it as the idea described in the white paper that started with the genesis block. It has forked and the forks although not comparable are still unresolved.
You seem smarter than me so you can pick it before I have all the information necessary to see which rules allow the chains to scale.
1
I don't think that adding zero to anything makes sense. Who cares about that dead coin
3
Other coins are on different chains now.
1
Yea but if I had bitcoin before how am I able to move the BCH?
There has to be people who don’t even know they have BCH. Do those coins count towards the market cap?
1
Yes al coins even those who are long lost count to marketcap. Thats one of the reasons its pointless metric. To use your bch coming from split in 2017 just load your btc wallet into electron cash.
4
For all the BTC you had on august 1st 2017, you also have BCH (and BSV and BCHA). Just import your private keys where you stored your BTC on at that time in a bch wallet like electron cash and you'll have access to your BCH. You can do the same for BSV with a BSV wallet. I would recommend moving the BTC to another wallet before you import it into various wallets for the forks so you don't have the risk of losing your BTC.
All these chains have an 8.5 years shared history, so yes, every Bitcoin mined before any of the splits counts towards the market cap for all these coins. Doesn't matter if people haven't moved them in years. This includes satoshi's coins that haven't been moved on any of the chains since 2009.
3
With a BCH wallet.
1
Do those coins count
Yes.
1
yes.
1
All issued coins are used to calculate 'marketcap'. Even coins sent to black holes.