Bitcoin Cash. (BCC)

pro_gnostic_8 · 05-10-2017 12:03pm #1

Is this BCC in a death spiral?
The price seems to be in steady decline -- from a high of 0.22 against BTC to a current 0.08 against. And nobody seems to be using it for any purpose.

I don't know what to do -- whether to get out of it altogether or hold in the hope of a turnaround.
I know it was "free coin" that we got air-dropped ....... but I don't want to hold it all the way down to zero.
Is it "dead" or is there any hope for it, do you think?

SkySter · 05-10-2017 6:36pm

pro_gnostic_8 wrote: »

Is this BCC in a death spiral?
The price seems to be in steady decline -- from a high of 0.22 against BTC to a current 0.08 against. And nobody seems to be using it for any purpose.

I don't know what to do -- whether to get out of it altogether or hold in the hope of a turnaround.
I know it was "free coin" that we got air-dropped ....... but I don't want to hold it all the way down to zero.
Is it "dead" or is there any hope for it, do you think?

I only had some because it was free. It had a good run at the start so I held. But really I think its future is bleak. I bailed out a week ago and converted what I had (not much) back to BTC.

annie.t · 05-10-2017 6:38pm

Sold mine during the pump at $860. Time will tell if this was good decision.

pro_gnostic_8 · 05-10-2017 8:49pm

It certainly was the right decision ! Wish I had done similarly. I'm gonna press the Sell button now at $354.

I honestly don't believe that BCC has any future either price-wise or in functionality. I'm unhappy at selling at this low price, but I'm satisfied to wash my hands of it.

If the price did drop further to, say, around $100, would either of you two guys be tempted to buy back in ........... or are you firmly done with it?

SkySter · 05-10-2017 10:15pm

pro_gnostic_8 wrote: »

It certainly was the right decision ! Wish I had done similarly. I'm gonna press the Sell button now at $354.
I honestly don't believe that BCC has any future either price-wise or in functionality. I'm unhappy at selling at this low price, but I'm satisfied to wash my hands of it.

If the price did drop further to, say, around $100, would either of you two guys be tempted to buy back in ........... or are you firmly done with it?

No. I'm failing to see the value proposition. If you want Bitcoin based technology but with innovation and growth potential I'd go with Litecoin. Currently trading around $50.

pro_gnostic_8 · 05-10-2017 11:46pm

Nothing against Litecoin; I like Litecoin, I hold some Litecoin from the early days -- never sold t.
But it's Bitcoin I want to convert this BCC into.

Just to illustrate how dysfuntional and impractical this BCC is -- this afternoon I tried to covert BCC to BTC at shapeshift.io but the tx timed out before the BCC was confirmed on the blckchain. (Shapeshift has a time-window of ten minutes for a conversion, but it takes two hours to get a confirmation on the BCC network. Then deposited to Poloniex -- still waiting for a confirmation 90 minutes later). :mad:

Shauny2010 · 06-10-2017 4:50am

I think bitcoin cash is an unknown at the moment, I got them for free so I will continue to hold if only because it has a next to zero transaction fee, and if bitcoin upgrades don't work out for whatever reason bitcoin cash could get an influx of development and funds.

pro_gnostic_8 · 07-10-2017 9:19am

Yes, I think you may be correct.
If Seqwit2X does not succeed in being implemented in mid-November, then, Bitcoin Cash should experience a spike upwards.
If Seqwit2X does succeed and becomes the main chain, Bitcoin Cash is dead.
It's all a gamble, tho', nobody currently knows for certain what the outcome will be.

Another scenario is that if both Bitcoin Core and Seqwit2X exist as two separate blockchains engaged in a major civil war, Litecoin might be the beneficiary. Who knows, everything is up in the air.

Shauny2010 · 07-10-2017 8:22pm

pro_gnostic_8 wrote: »

If Seqwit2X does succeed and becomes the main chain, Bitcoin Cash is dead.

Lots of obituaries for Bitcoin over the years too. If anything Seqwit will make Bitcoin-cash an even bigger store of wealth. That may be the only use case it would have but is that a bad thing? I would think not.
As an aside the supply of Bitcoin cash is less than Bitcoin, I`m a buyer at the current price of $350 just like when Bitcoin was $350

pro_gnostic_8 · 08-10-2017 10:45am

Shauny2010 wrote: »

Lots of obituaries for Bitcoin over the years too.

Two entirely different beasts, tho -- Bitcoin and Bitcoin Cash. I never wrte an obituary for Bitcoin itself, fact is I've been a believer in Bitcoin since 2013, and have backed up that belief with hard cash.

If anything Seqwit will make Bitcoin-cash an even bigger store of wealth.

But Bitcoin-Cash has not and will not implement Segwit, no? It was that issue of seqwit implementation that instigated the Bitcoin-Cash crowd to fork-off into a new chain that by its code disables Segwit from the protocol.

All I am saying is that if mid-Novembers Segwit2X hard-fork succeeds and the new resultant chain (call it B2X) achieves dominance, then, Bitcoin-Cash must fade into obscurity. If it does not succeed and if the Legacy Bitcoin chain comes out on top, then, Bitcoin-Cash could have some kind of a future.
The chance of B2X succeeding, however, might be low. Looking at the futures market on Bitfinex, "Advance B2X" tokens are trading at only 25% of BTC tokens. And this 25% price is probably being propped up by pro-B2X whale supporters like Silbert and Ver.

SkySter · 08-10-2017 1:26pm

What did one Bitcoin say to the other Bitcoin?

Go fork yourself!

pro_gnostic_8 · 09-10-2017 8:25am

SkySter wrote: »

What did one Bitcoin say to the other Bitcoin?

Go fork yourself!

Bitcoin Cash. (BCC)

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