The guy behind Bitcoin Cash

[roman375]

I wonder if the owner had any input with the recent pump, or if he was oblivious and just made (bil?)millions from it.

Considering something like 70% of the volume came from a single Korean exchange with evidence of wash trading from just a handful of accounts, it would be naive to assume the latter considering the amount of money and vested interest he has at stake.

 

[Deleted member 969102]

Considering something like 70% of the volume came from a single Korean exchange with evidence of wash trading from just a handful of accounts, it would be naive to assume the latter considering the amount of money and vested interest he has at stake.

Yes, but saying that, the pump just made the coin look like a scam and damage its long-run potential.

It doesn't make sense for the Chinese miners to inform the owner they are about to jump his coin.

 

[roman375]

Yes, but saying that, the pump just made the coin look like a scam and damage its long-run potential.

It doesn't make sense for the Chinese miners to inform the owner they are about to jump his coin.

The dump made the coin look like a scam, which was due to said Korean exchange going temporarily offline and triggering panic sells as well as their underestimation of the amount of money some other big players were willing to inject during the tip. There was an interview with a hedge fund billionaire that invested a modest 8 digits during that dip, preventing the price from going lower.

Had they otherwise been successful in reaching price parity with Bitcoin, it could have triggered mass FOMO with people jumping onto BCH for the "flippening", resulting in Bitcoin bleeding huge amounts of hashing power. Fortunately, BCH's new difficulty adjustment algorithm, which went live a few days after this pump and dump will no longer allow for massive hashing power swings, thereby minimizing the likelihood of them trying this again.

 

[Deleted member 969102]

The dump made the coin look like a scam, which was due to said Korean exchange going temporarily offline and triggering panic sells as well as their underestimation of the amount of money some other big players were willing to inject during the tip. There was an interview with a hedge fund billionaire that invested a modest 8 digits during that dip, preventing the price from going lower.

Had they otherwise been successful in reaching price parity with Bitcoin, it could have triggered mass FOMO with people jumping onto BCH for the "flippening", resulting in Bitcoin bleeding huge amounts of hashing power. Fortunately, BCH's new difficulty adjustment algorithm, which went live a few days after this pump and dump will no longer allow for massive hashing power swings, thereby minimizing the likelihood of them trying this again.

No. It was obvious the price was being manipulated five minutes after the first increase. Especially when it was all the Koreans like you said.

I was watching a live stream the whole time talking about a conspiracy post dated well before the increase documenting it.

 

[roman375]

No. It was obvious the price was being manipulated five minutes after the first increase. Especially when it was all the Koreans like you said.

I was watching a live stream the whole time talking about a conspiracy post dated well before the increase documenting it.

I am not disagreeing with what you are saying. It was obvious to people closely following the scene. For others it only became obvious after the massive dump. They were trying to sell the idea that BCH passing BTC was imminent (hoping the market will react accordingly and swing in their favour), but failed in spectacular fashion, with as a result making it obvious to everyone what actually happened.