If you're thinking about investing into the new bitcoin fork coin, Bitcoin Cash. DO NOT DO IT.
I did some research into it, briefly. And it's titanic.
Here's why:
Hash rate dropped because miners stopped mining it after the pump at 800, they all left with grins.
It's legit so new that they only bought their website barely a week before the actual fkn coin was created (last week of july).
The price is high now because NO ONE can sell their BCH. Why? Because most exchanges don't accept deposits or withdrawals because they're too scared the coin is scammy. You either had your BTC at one of these exchanges or you're on an island. For example, I had my btc at kraken, so I was able to successfully sell my BCH. If you join kraken, you can only buy BCH but not sell it or move it out -- so basically why are you buying it? Why would anyone buy it?
The price will surely plummet because exchanges are now swearing to add BCH in the near future (like next 2 weeks). That means people with so much jiz built up will drop their BCH loads all over the place and investors will swoop up the coins -- but again, why would they buy it? It has a decreasing amount of miners.
The BCH technology is so new they're still working out the kinks :/. Literally this group of people who forced a BTC fork but bought their website at midnight and didn't even perfect their tech. They're trolling hard.
Bad press -- I'm not the only one saying BCH sucks. It's the whole crypto world screaming it. You're going to invest in something that everyone thinks is bad?
Finally, BTC will overtake BCH after segwit happens and also in November. No one can USE BCH because THERE ARE NO MINERS. Also, BCH group is relying on fiverr-bought videos to explain their shit. . . come onnnnnnnnn
tl;dr: If you had btc and got bch, sell it as soon as you can. Don't buy any more. I'm pretty sure the whole BCH group is just using BCH as a way to get free money, then they're dropping the project altogether and ruining cryptocurrency's reputation as a whole. Cuz they're cool like that.
I did some research into it, briefly. And it's titanic.
Here's why:
Hash rate dropped because miners stopped mining it after the pump at 800, they all left with grins.
It's legit so new that they only bought their website barely a week before the actual fkn coin was created (last week of july).
The price is high now because NO ONE can sell their BCH. Why? Because most exchanges don't accept deposits or withdrawals because they're too scared the coin is scammy. You either had your BTC at one of these exchanges or you're on an island. For example, I had my btc at kraken, so I was able to successfully sell my BCH. If you join kraken, you can only buy BCH but not sell it or move it out -- so basically why are you buying it? Why would anyone buy it?
The price will surely plummet because exchanges are now swearing to add BCH in the near future (like next 2 weeks). That means people with so much jiz built up will drop their BCH loads all over the place and investors will swoop up the coins -- but again, why would they buy it? It has a decreasing amount of miners.
The BCH technology is so new they're still working out the kinks :/. Literally this group of people who forced a BTC fork but bought their website at midnight and didn't even perfect their tech. They're trolling hard.
Bad press -- I'm not the only one saying BCH sucks. It's the whole crypto world screaming it. You're going to invest in something that everyone thinks is bad?
Finally, BTC will overtake BCH after segwit happens and also in November. No one can USE BCH because THERE ARE NO MINERS. Also, BCH group is relying on fiverr-bought videos to explain their shit. . . come onnnnnnnnn
tl;dr: If you had btc and got bch, sell it as soon as you can. Don't buy any more. I'm pretty sure the whole BCH group is just using BCH as a way to get free money, then they're dropping the project altogether and ruining cryptocurrency's reputation as a whole. Cuz they're cool like that.
