The Bitcoin Cash Hard Fork Was so Smooth that the Volatility Barely Showed Up.
After weeks of worrying about what would happen after the Bitcoin Cash Hard Fork it seems that it was much ado about nothing. Sure we could see some more volatility in the markets this week but I hope this turns out as non eventful as Y2K as @Stackin has mentioned.
Even though I was not able to make a killing on a short position I am happy that the market stayed strong. Maybe the Bitcoin Core community decided that they would heavily support Bitcoin and not let the Bitcoin Cash FUD take the price down. No one will ever know for sure but this is what I suspect.
Bitcoin Cash futures on ViaBTC has it at .11 BTC with a high of .15 this morning. Do you think people will dump Bitcoin Cash as soon as they are able to be traded? I have a little and will probably just hold onto mine.
Look at the Buy Support on Bitfinex!
Lots of sound and fury on BTC FUD, signifying nothing.
Fork? What fork? Seems it's all been fear based positioning... the crypto y2k moment. But I guess we need a little longer before we celebrate?
Trading started on Kraken and there are lots of buy orders filled, which is weird as the block wasn't mined yet. Also it's not a future anymore on coinmarketcap, being listed as BCH.
Block has mined and trading has begun on Bittrex.
According to https://blockchair.com/bitcoin-cash/blocks, the last block time is 18:52 :(
It seems the bitcoin HF has passed unnoticed, nothing terrible has happened. On the contrary, it has one pleasant consequence - all other cryptocurrencies became green🙂
The chain hasnt launched yet because the first forked block hasnt been mined. Everything being traded now is futures and the same as it was yesterday. Once difficulty lowers or the first few blocks get mined, we will see coins actually go on the markets and see what happens. We most likely wont see any action until later today or tomorrow.
It did about an hour ago.
So smooth !
Don Draper always makes me feel better
"BITCOIN is unstoppable" - Bill Gates
He is right damn ...
hahha ok hey hold on, dont you think bill gates wasnt just talking about "bitcoin" he was more or less talking about all crypto currency, i have a feeling bill gates doesnt even give a fuck about technology anymore, he doesnt keep up because he doesnt have to!
or maybe youre right and he WAS talking about bitcoin specifically in relation to other crypto currencies
Im gonna grab my popcorn and sit back and watch for the next few weeks, actually it will be interesting to see how this affects things 1 month and then 3 months down the line.
Im expecting hashing power to be the driver for which version reigns supreme, but safe bets are on the original.
i keep looking at that guy behind michael, he was just some extrain a micahel jackson music vieo and now he is forever immortalized in a meme, isnt that crazy?!?!
This appears to be all good news on this fork, proving that this industry is robust and is the future for sure. Good luck to all!
That gif make me move too :D
I will probably hold everything, more forks plz :D
Whoa !!! It is the wait and see drama. Somehow we all benefit for the greed unless you don't understand what is going on.
Positive attitude.
Crypto market sentiment.
Keep on steemit!!
Maybe it's too early to see the volatility? Or perhaps its delayed until real trading of Bitcoin Cash starts?
Possibly but all looks good so far.
How about Bitfinex? Is it started listing Bitcoin Cash/BCH.
Nothing there yet
It was just a hype...
Bitcoin is down 5%. though. I wonder why?
Bitcoin isn't down as much as Bitcoin Cash increased your value... so, all in all, bitcoin holders are up today.
Jeff for the clarification :)
We were expecting much more than that.
When will they be able for trading exactly? And why would people dump it as soon as they are able to be traded? Are they that bad(untrustworthy)? I thought they're gonna be as good as Bitcoin!
No idea, they have to start mining them successfully first. I already have mine in my Bittrex wallet but they won't open it for trading until they are stable.
Hello @hilarski
The past few days have been a huge ride for cryptocurrency, there were fears from some quaters that this will ruin bitcoin but the price of bitcoin still remained storng.
I was not really overwhelmed with the nature of Bitcoin cash because Steem Dollars went a long way in giving me a comparism of what it looks like, I am not someone who is really good with cryptocurrency but steemit have given me a chance to broaden my knowledge.
Thanks for Sharing.
@ogochukwu
It actually looks more stable in this side of it.
Smooth sailing, the winds are favorable.
Fortune is merry, and in this mood, will give us anything :)
I think the fireworks may be delayed but could come out of Coinbase, unless they've changed their stance that they're ignoring BCC while probably collecting it on the back end for any accounts with BTC in them.
Yup, and pad their own pockets.
We haven't seen any massive price plummets.
When the blocks go through for BCC we may see a huge drop in value for BCC.
It seems like most people are supporting BTC as I would've expected.
All altcoins seem to be going up rapidly except for steem but it will tag along sooner or later haha
Didn't expect it to be this smooth
Same with me, I was looking for a $300-$500 price drop to profit with a short. It never happened.
The bitcoin cash is going down :)))
I believe people will want to take out the free money, so they will probably dump BCC.
I am actually going to buy some.
Here's why I believe we didn't see crazy volatility overnight:
In my humble opinion, Bitcoin is too established and trusted for it to fall like a rock as so many people were "predicting" with their magic 8 balls, simply because of Bitcoin Cash.
source
Bitcoin Cash doesn't have a use case yet (or a "value proposition" for some of the more financially savvy), so even if people wanted to flood out of Bitcoin, today is not yet the time.
It very well may turn out that Bitcoin Cash causes a giant fissure in the BTC community, but the Hard Fork overnight was just a small pinhole in the bedrock of BTC. It's going to take a bunch more pounding into that pinhole before I get concerned about the future of Bitcoin.
Additionally, there are so many crypto n00bs who invested in BTC at high prices (and will likely continue to buy on the dips), that I think it will take a much bigger event where the BTC community loses faith in BTC for a significant drop to occur.
I'm looking forward to how the BTC Community feels in the coming weeks about the aftermath of all of this:
source: https://coin.dance/blocks
Looks like we are in the clear. Some of those youtubers were panicking and had me a little worried
Yes indeed it took off very smooth with a glitch ,, the future look bright again for crytocurrency , thanks for sharing
6% down and under 2700. Let's see what happen by the end of the day.
Good to see that the world is still spinning, now we may go back to create great content. Have a nice relaxed day!
Yeah, that was such a smooth hard fork. I miss musical genius -MJ ,that smooth criminal song was awesome :) Soon bitcoin will be back to its bullish ways :)
I was itching for this day some time now. I celebrated with Todd the Axeman Beer! I did a review and liked this post of yours. I hope it draws some people to you! I also used your picture, if you want it edited, do say!
Also 100% upvote here ;)
Cheers!
It's quite rarely as bad as the rumour as far as BTC goes Randy, right? Great article, 100% upvote. @hilarski
The rumor sure made it sound like the end of BTC as we know it.
Great post of quality information bro, indeed helpful. Kudos
That used to be the cut! But I was lucky enough to be too busy to even know what bitcoin cash was until today lol
Great post!
wow, a good news indeed..lets hope for the best and a great success for steem by year end.
I actually took out time and watched the whole smooth criminal video you uploaded..awesome MJ
Upped. Keep it up buddy.
I don't think there has been a block of bitcoin cash actually mined yet. There hasn't been any actual trading just tiny orders of people manipulating price.
Nope, but that is not my worry. Bitcoin is fine.
Habla, blah blah blah blah blah, Español for my bunghole...
I'm going to hold my Bitcoin Cash, but I think Bitcoin will drop in the next few days as people move back into alt coins after getting free Bitcoin Cash.
I don't have any but if I did, I'd most likely dump them as soon as possible and buy STEEM! :P
It shows how stable a currency Bitcoin has became. Market took it so gently as if nothing have happened. Bitcoin should be steadily on increase over whole August.
Exactly, the futures market was much more volatile than the actual markets.
Was there a fork? haha
Sure, did not do much.
I think it did per my posted reply here. I'd love to get yours, @stackin, and @jeffberwick 's feedback too.
I still don't understand that fork thing lol
See my comment below for clarification. Good coins replace bad coins. Reinvent yourself to avoid some other coin replacing you. That seems like a decent strategy, right? It's similar to a HF on Steemit to improve its features.
I have a little too and I too would hold on to them and see what happens :)
We Love you Forever Michael!
Oh...
And Go BTC!
It will be pretty good if it grows to 0.3 BTC hehe.
Just checked the webpage that you mentioned a few days ago, to see what's going on with accounts: https://steem.makerwannabe.com/
I was surprised by the results, to say the least.
That's a great site! Kudos and thanks to the people behind it.
While it went smooth as butter, I'm sure many had heightened anxiety and fear it wouldn't
giphy.com
Can we hear a AMEN BRUTHA ? It would be justied
I'm so glad this was a non-event. I want to keep both but may flip Bitcoin Cash depending on the price. Do you think the price will hold out for a while or really dip...even if it's around for the long term?
Anyone has any idea how i can claim my bitcoin cash?