QUOTE(wengherng @ Jul 31 2017, 01:29 PM)
The article is insightful, but is not entirely accurate either.
First of all, Bitcoin Cash is not BCC......BCC is BitConnect, and it is a totally different coin altogether (and one that has quite a significant market cap too, by the way).
The particular sentence "The value for BCC has to come from somewhere, and deducting it from the regular Bitcoin price would seem the most logical course of action'" is actually rather misleading.
The "value" of any coin has no physical ties to any other coin......its value is simply what the general public sees in this particular coin. The value of a coin does not need to "come from somewhere".
The price, though, may have a slightly more correlation to another coin, namely bitcoin, but also not much, since one single trade on a single exchange will determine the "price" of Bitcoin Cash.
A more accurate description would be to say that the market capitalisation of Bitcoin Cash would have to "come from somewhere", which would be true. In this case, when it hits the exchanges, the amount of money flowing into (or out of) Bitcoin Cash would determine its price.
But then again, this is not exclusive to bitcoin only......the public can just as easily sell their other assets/coins to buy Bitcoin Cash if they want, in which case, the market capilatisation of Bitcoin Cash would be coming from another token, or even fresh money from outside of the cryptocurrency sphere.
In fact, if I were to be so bold as to make a prediction, I'd even say that once it hits the exchanges, the price will spike for a while and then be dumped, since people are calling it "free money", it makes sense that many people will immediately sell it off to buy more "conventional" tokens, like bitcoin, ripple, monero or ethereum, especially since ETH is selling at quite a discount off of its all time high from a few weeks back.
But then again, I make terrible predictions......which is why I am not a trader.
Bitcoin Cash might even go up to USD 2800 and bitcoin might go down to USD 8. (I'd be an extremely unhappy man for the next few years if that happens)
Who knows......this is the wild west of Cryptoland.
A very fair assessment of the situation I must say.First of all, Bitcoin Cash is not BCC......BCC is BitConnect, and it is a totally different coin altogether (and one that has quite a significant market cap too, by the way).
The particular sentence "The value for BCC has to come from somewhere, and deducting it from the regular Bitcoin price would seem the most logical course of action'" is actually rather misleading.
The "value" of any coin has no physical ties to any other coin......its value is simply what the general public sees in this particular coin. The value of a coin does not need to "come from somewhere".
The price, though, may have a slightly more correlation to another coin, namely bitcoin, but also not much, since one single trade on a single exchange will determine the "price" of Bitcoin Cash.
A more accurate description would be to say that the market capitalisation of Bitcoin Cash would have to "come from somewhere", which would be true. In this case, when it hits the exchanges, the amount of money flowing into (or out of) Bitcoin Cash would determine its price.
But then again, this is not exclusive to bitcoin only......the public can just as easily sell their other assets/coins to buy Bitcoin Cash if they want, in which case, the market capilatisation of Bitcoin Cash would be coming from another token, or even fresh money from outside of the cryptocurrency sphere.
In fact, if I were to be so bold as to make a prediction, I'd even say that once it hits the exchanges, the price will spike for a while and then be dumped, since people are calling it "free money", it makes sense that many people will immediately sell it off to buy more "conventional" tokens, like bitcoin, ripple, monero or ethereum, especially since ETH is selling at quite a discount off of its all time high from a few weeks back.
But then again, I make terrible predictions......which is why I am not a trader.
Bitcoin Cash might even go up to USD 2800 and bitcoin might go down to USD 8. (I'd be an extremely unhappy man for the next few years if that happens)
Who knows......this is the wild west of Cryptoland.
I believe BCH will survive and am hodling it for long term appreciation just like BTC. The incentive to keep this Blockchain alive is tremendous and with ready users but to manage it with different set of guidelines, merchants, miners etc (a complete ready made ecosystem) will give it some kind of value.
Even at USD50 per BCH, it will easily make the top 10 in market cap.
HODL! LOL
Jul 31 2017, 02:18 PM

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