Beware Bitcoin and Bitcoin Cash Pump and Dumps; There is a War Going on
If you aren’t aware, Bitcoin and Bitcoin Cash are in a war of sorts, both on the exchanges and on social media. That makes it a risky time for both assets.
Bitcoin is the most commonly known cryptocurrency. It’s a decentralized digital currency that is secure and private and can be used in transactions worldwide. It carries with it a number of pros and cons and is currently rather volatile.
In this section we discuss everything Bitcoin including how it works, what it’s worth, how you can “mine Bitcoin”, and more.
If you aren’t aware, Bitcoin and Bitcoin Cash are in a war of sorts, both on the exchanges and on social media. That makes it a risky time for both assets.
Bitcoin is a value store, Bitcoin Cash is a payment system. A payment system needs to be fast… and have a stable price. A value store should rise in value steadily.
The entire crypto market (with the sole exception of Bitcoin Cash) entered a correction period today. This is was spurred on by claims Bitcoin Cash is the new Bitcoin.
Bitcoin’s price dropped a bit, meanwhile Bitcoin Cash’s price rose. Bitcoin.com (just a great domain, not an official site) even said it was going all in on Bitcoin Cash.
Goldman Sachs has been on-point predicting Bitcoin’s price. Yet again they got it right. Bitcoin went to $7,900 for a moment today Nov. 8, 2017 like Goldman projected. Nice!
Despite being somewhat unclear on other forks, there was a press release from Greyscale that discussed Bitcoin Cash distributions for GBTC shareholders.
GBTC could cause major problems by being unclear on what it plans to do with the Bitcoin forks. There is only one answer, HOLD all coins in the trust.
At block 494,784 (estimated to occur Nov. 16) Bitcoin will fork in two. Bitcoin holders will get 1 Bitcoin Segwit2x for every Bitcoin they own. That is a big reward, but there are risks.
On Oct. 31st it was announced that the CME group plans to offer Bitcoin futures trading.
Bitcoin Cash (BCH) is a cryptocurrency created from a hard fork of Bitcoin. It is meant to have quicker transactions than Bitcoin.
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