I think it is crucial to take a few step back and realize what has just happened.
People who already own huge amounts of BTC, steer the wheel towards forking the chain and reward themselves with the same number of BCC.
BCC does not begin trading at 0, it had already a market value of around $200. So these people made a $200 profit per coin at the time of the fork. Yeah! free money right?
And then the pumping begun, the same people started selling these BCC to the market, feeding the hungry dogs who wanted some of that BCC goodness, selling always higher, as the market consumed all of it driving the prices up. At around $800 they started unloading all of their free BCC, driving the prices back down again.
This generated more interest at the markets who decided to buy again. But the sellers also became buyers once again. To them it is still free, and for the past whole day they keep on doing the same process. Driving the price up and then unloading again, making free millions in the process.
If this was to happen at any FIAT exchange there would be riots, and people would go to jail. In the real world this is a crime. Right now, I am standing speechless watching this happen...
I think this story is much bigger than a quarrel between the miners and the developers, it really looks like a plan well designed.
It was an easy prediction that the "stupid money" as the small time investors are known as, would buy BCC, since it has the potential to go up. Who would they buy it from? From the people who already owned some. And who are these people? The people who already possessed bitcoin at certain exchanges at the time of the fork.
Is this a great con job, or what?
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I completely agree with you, Bitcoin Cash is a perfectly orchestrated scam at a large scale. Hopefully people will learn their lessons and we don't see any similar "projects" in the future.
You're right, but I think the same thing can be said for ICOs ... Here in the States, it's getting a lot of regulation attention. But it seems that ICOs are only being looked at because of the name being so closely sounding to "IPO". Nobody is ever going to investigate BCC/BCH, because that's just crazy. (Read this last sentence with large amounts of sarcasm :-) )
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