Community post
Bitcoin Cash - Good or Bad?
This is going to have serious implications for Bitcoin and I want to hear your thoughts and opinions.
Here's what I know so far:
- A mining company that has about 30% of total hash power wants to hard fork and create Bitcoin Cash.
- Futures for this are trading on a few Asian exchanges at a current price of $422 USD.
- They want to implement an 8mb block size.
- There are going to be trading and service disruptions.
- Many are advising not to transfer (send/receive) Bitcoin on August 1st or for about a week afterwards.
I have read comments on prominent YouTube channels which specialize in Cryptocurrency.
Some are saying they will dump Bitcoin Cash as soon as they can.
https://media.giphy.com/media/s3y2GKa8PcGFq/giphy.gif
Some are saying this will be a benefit by providing cheap and fast transactions.
https://media.giphy.com/media/3oriNYQX2lC6dfW2Ji/giphy.gif
Then there's the speculators who say they will buy Bitcoin Cash after the price drops.
https://media.giphy.com/media/wyRWUuZcnAYgw/giphy.gif
Are you taking a firm position or a particular side?
Sources:
Image: My custom creation
GIF(s): giphy.com
Disclaimer:
I am not sponsored, endorsed, or otherwise compensated in any fashion by these sources, however I am a humble Steemian who wishes to bring forth quality content in order to add value to our community.
STEEM ON
https://media.giphy.com/media/ZsQ5ZDdKvXYRy/giphy.gif
~prep4shtf
Replies (9)
This post received a 3.5% upvote from @randowhale thanks to @prep4shtf! For more information, click here!
https://steemit.com/bitcoin/@hotsauceislethal/bitcoin-price-forecast-7-26-2017
Check my BTC forecast for valuable information about price movements. Bitcoin Cash (Grab) is just a stunt to drop BTC price and allow them to make a few million in the meantime with some new crap coin that will only trade at $20 per token after all is said and done.
That's an interesting point of view. I will check out your price forecast. Thanks for your input.
This is an important topic and thanks for posting this. I'm taking a wait and see approach on this until I have more information to make an intelligent decision going forward. My BTC is parked in cold storage to keep me from making a hasty decision. :)
You are welcome :) and great idea on the cold storage. Better safe than sorry!
You Received an UpVote from @worldclassplayer. To Learn More, See DetailsHere
BTC-e exchange associated with arrest in Greece - in the case of money laundering through bitcoin
https://steemit.com/news/@niceviewsua/btc-e-exchange-associated-with-arrest-in-greece-in-the-case-of-money-laundering-through-bitcoin
https://steemitimages.com/0x0/https://pbs.twimg.com/media/DFrOxOqXoAEi7P4.jpg
Thank you @prep4shtf for joining the Steemit Preppers community with this badge!
If anyone would like a badge (Homesteading, Gardening, Beekeepers, Woodworkers, Dads, Moms, Food Preservers, Preppers) please submit $1SBD to @daddykirbs with a memo stating what it is for :)
Thanks for sharing. All I can say is wow, that's a lot of bitcoin.