Bitcoin : This is not the END
It doesn’t matter who is behind the currently unfolding events but I want to talk about them:
– Ayre dumping BCH for BSV,
– pro-BSV Tether pump (Huobi, Binance),
– pro-BSV pump from Blockstream fans,
– fake news about a lawsuit against Ver and Bitmain,
– fake BCH developer leaving the project and buying BSV,
– major pro-BSV astroturfing on r/btc.
Main goal is to decrease BCH value in order to trigger a massive BCH selling therefore crashing the BCH market.
Second goal is to force/manipulate Roger Ver and Bitmain to sell their BSV holdings in order to prop-up BCH value.
There is no doubt that BCH value and community will take another hit on short term because there are huge amounts of money used to manipulate the price. There isn’t much we can do right now about it.
However, the real situation is not as dire as it sounds:
1. BCH never claimed to be a store of value. Basically the price of BCH is very important for hodlers and speculators however it’s not so important for real adoption as the purpose of BCH is to be bought and spent. This hurts me personally (financially) but it’s the truth.
2. BTC miners are invested in BCH as they proved when they defend it against BSV. One overlooked fact is that the POW difference between BCH and BSV did no changed in the last weeks. Basically BSV cannot overtake BCH in absolute POW terms therefore BSV mining is doomed on long term.
3. Roger Ver and Bitmain and others have huge amounts of BSV which are equivalent to a kill-switch for the BSV price value. They can crash BSV’s value at any time and honestly, while BSV side just wasted this card, I wish the big BCH players don’t sell their BSV coins. This represents a huge weakness for the BSV camp and it will make their life a living hell.
4. BCH adoption is rising each month: there are more vendors, there are more BCH clients, there are more miners, there are more wallets. This is the main reason why someone is trying to kill BCH right now because in a few more months BCH will be unstoppable.
Because we are talking about cryptocurrencies, nobody can be sure what the future holds but the most likely scenario is that BCH will survive and that’s all that matters. The market can be irrational or manipulated for long periods of time but at some point it will come to its senses and at that moment it’s very important for BCH to be available as a solution.
PS. Sorry for my English.
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