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by thefalcon 3237 days ago
My point is that there is no driver for the price to crash. There will not suddenly be a surprise supply of BCH found that will flood the market. Everyone knows that there is 1 BCH for every BTC out there, and that almost none of that is currently able to be exchanged on a market. That includes every single person who is driving up the price of BCH by purchasing it in the limited markets where it is available.
4 comments
vkou 3237 days ago
People trading BTC for USD seem to think otherwise. The BCH fork had no serious impact on the value of BTC. Holders of BTC are not confident that BCH will be successful.

Yet, if we were to take BCH's $400/coin at face value, then splitting BTC into BCH just created $340 of value, per coin in existence.

If I gave everyone who currently had a US dollar a 'Vkou-dollar', would I have created even a penny of value? What if there was one exchange, where Vkou-dollars were trading at 20 cents (With no liquidity)? Would you accept that valuation uncritically?

If so, I'm looking for a co-founder.

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thefalcon 3237 days ago
Having Big Blockers off on their own chain instead of causing headaches for the Bitcoin legacy chain is probably increases the value of BTC by about 15%, so the math works out. (I'm being a little flippant here, but on a serious note we have no idea how the value of BTC was affected because 15% daily swings aren't something anyone even bats an eye at anymore.)
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mhluongo 3237 days ago
Multiple large holders have publicly said they'll dump their BCH. Grayscale, plenty of others have made their trading preference public. Of course that's not the same as hearing the market and putting your money where you mouth is- but right now the market is being restricted due to deposit issues.
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elif 3237 days ago
Grayscale also seems to have chosen Ethereum Classic. Interesting tastes.
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BinaryIdiot 3237 days ago
Interesting. I don't understand how all of the BCH and BTC stuff works so I guess I should read up on it but thanks for further explaining your position :)
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homero 3237 days ago
There's thousands of people like me checking every minute if we can deposit bch to sell. There's millions waiting and I'm hoping to be the first..
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