While researching the chit chat about the current explosion in Bitcoin Cash Prices (Which hit a high of $2500 a few hours ago - which is a figure of many hundreds of percent growth over it's price since the fork months ago).. I came across an intrgueing warning from July...
I really don't have much to add to all of this since I am not 'behind the scenes' of Bitcoin enough to know which is the better fork of the coin - except to say that without some kind of upgrade it is certain that Bitcoin can never be a form of real cash and may get replaced in the near future by something like Steem.
Here's the warning:
Traders, certain information has come to my attention that is causing me grave concerns and i feel it is my duty to warn each and every one of you.
We all know the scaling drama has caused a huge rift, resulting in bitcoin forking into the soon to be "Bitcoin Cash".
I know many have large holdings and savings in bitcoin, and are 'hodlers' and will never sell, so when the selling starts, you may lose everything if you don't also sell.
Gentlemen, this is certaintly not going to be gentlemen.
Certain information has come to light from back room channels, sources i cannot disclose ~ even writing this post will probably reveal my source - but i feel by gods will, I must warn you all.
Selling is coming. Selling the likes of which hasn't been seen since MtGox era.
Already as i type this, battleships of bitcoin are being shorted on all major exchanges.
Gentlemen, The enemy, the big blockers, have colluded and joined forces. The chinese, Jihan & co have put together a plan to replace bitcoin with bitcoin cash.
The plan goes like this:
Chinese miners (f2pool, antpool etc etc) have organised with major exchanges (via/huobi/okcoin etc) to support and launch bitcoin cash.
Initially they will let everyone who wants to sell, sell.
Once the coin has bottomed out, and everyone who wanted to sell has sold, they [chinese miners/jihad/chinese exchanges] will begin accumulating lots and lots of bitcoin cash.
They will then begin to pump the price to around 0.1 BCC/BTC - 10%
The big pools won't mine it ~ they will let the smaller pools see the returns from mining this expensive, but low difficulty coin and start mining it.
Later, the larger pools will join, and as we know, jihad has ALOT of hashing power, their plan is for bitcoin cash to have more hashing power than bitcoin ~ and lets be honest, once t he chinese move over, that is pretty much it.
Around this time, the 'hard fork' section of segwit 2x is not going to happen ~ it never was - Bitcoin cash will then be seen as the original NYA coin..
At that point in time, Bitcoin cash will be on all major chinese exchanges, possibly some western exchanges aswell, and have majority hashing power. Western companies & other merchant providers (BitPay - @Spair) etc - paid off by bitmain etc will go along with the new bitcoin cash narrative and will push for the 'bitcoin cash' to be called 'bitcoin' on all their platforms, leaving only coinbase et all which will then be the odd ones out..
Now comes the scary part, The old bitcoin, the bitcoin we know and love, is going to get DESTROYED.
What determines a coins success ? It's market cap.
Big old school blockers and miners are going to dump bitcoin back to the bottom, they will take literally billions and billions of dollars out of bitcoin. They will use the money to fund the marketing, and development, or 'bitcoin cash' - Think, Bitcoin core - FIRED. Think - forbes article, "why bitcoin miners and companies are moving to bitcoin cash" - think - "Why the market is chosing bitcoin cash as bitcoin not bitcoin core" - They wil lsay the market has spoken, that people have voted with their money.
Right now, massive huge shorts are being built, already on finex, shorts are at 32k - not seen since $200 these kinds of numbers of shorts, and its climbing, all the t ime, consistently, they have ALOT of coins to short.
The most painful kind of selling, is where it never bounces and if you remember MtGox from $1000 to $70, you'll remember what no bounces feels like ~ and I can tell you. This won't be any better.
Good luck all, remember - fair warning.
Below is I grabbed, i also have some slack and telegram logs, I will sort them out later when i get back, i just want to confirm what I can safely disclose first for my own protection.
Source: Pastebin (July 30th, 2017)
Wishing you well,
Ura Soul
Buy My T-Shirts, Gifts & Other Clothing Here.
View My Witness Application Here
Thanks for this info which confirms what I have been saying for some time... even going as far as to advise my mother to move her BTC to BCH two weeks ago. Shame I don't have spare doe myself, but at least my mum is smiling!
ah, great insight! i notice your mention barefoot sungazing, that's enough for me to upvote and follow you ;)
Good man! Thank you. Yes, I've not worn shoes for 4 years now. And when the mornings are clear you will always find me outside the house lapping up that energy.
Have to admit I cannot take the credit for this insight. The man I met in the jungle 15 months ago who taught me crypto and introduced me to steemit calls me from time to time with info. And this guy really knows his shit. Everyone needs a man in the jungle!
Have resteemed you for some extra exposure and will vote for you as witness now.
hehe - :)
i actually intend to relocate to the jungle as soon as possible - i'm glad to know there's at least one other steemian out there :))
oh, thanks for the witness vote too! I've had a couple of big unvotes recently and have no idea why yet.
Done. My vote isn't worth as much as it used to be after living off steem for 7 months, but there you have it. Great to hear about the big upvotes.
And if you ever make to the jungle... hope to see you there!
oh - haha - well, it was big UNvotes - rather than UPvotes.. bit it's all a learning curve.
Any particular jungle? I was thinking of central america ;)
So Bitmain is now accepting only BCH.
That confirms that this is a serious effort, as the above warning asserts.
Aha, I just checked and yes, you are right - great find!
Not to discount the post/comment in anyway, but the move is also in part due to the heavy congestion the BTC network is currently experiencing.
Holy moly, crypto drama is back in full power. This will be interesting.
Strap on your crypto helmet! :)
Imagine all the new people who have just bought btc within few months. Welcome to the wild ride.
I kind of figured a well orchestrated attack, by some of the biggest players in the field could easily wipe out Bitcoin if they so chose to do so, but sadly... no one new may ever join the investment ranks after this little stunt.
Roger Ver is said to have 100k bitcoins and he has now moved 25k of it to Bitfinex for whatever reason. Whales are making their moves.
Roger and his cronies are going to trade all of their Bitcoins in for BTrash, so the market is going to get a little bit more crazy before it gets better, but... Satoshi probably kept all of his Bitcoin all these years just in case this happened, and is going to sell all of his BTrash to get back at them.
Why would you call it BTrash? Isn't Bitcoin cash what Satoshi himself visioned in the whitepaper - aka increasing block limit as needed and not artificially limiting it to 1mb?
Exactly!I'm one from the Dash side of things. But I've had lots of respect for Roger. He seems a genuine good guy who is sensible unlike the Bitcoin devs and fanboys who are toxic bunch of egomaniacs.
I've extensively expressed my opinion here:https://steemit.com/cryptocurrency/@vimukthi/bitcoin-fees-triple-under-a-week-while-dash-makes-itself-10-times-cheaper-my-discovery-of-a-secret-device-to-store-the-entire
I've supported BCH from the beginning on the basis that it's the real Bitcoin. I love Dash because it's already planning for 400MB blocks and it's without any such drama.
400mb sounds huge. What are the current sizes of the blocks over there?
Thank you so much for all the work and effort you put into this informative post. It is amazing how many people with brains, use them for dastardly and nefarious schemes. What a world. Who needs soap opera! Thanks again and stay safe.
Oh yes, intelligence is not the same as wisdom. We need the heart's balance for that!
That is some scary apocalyptic stuff right there. It goes back to the old investment saying, "never put all your eggs in one basket". While I will probably hold some BTC for a long time, I am far more interested in the potential of alts
A system is only as reliable as it's operators! ;)
Very interesting. I sort of wish I had sold my bitcoin now at 7K as we may never see that day again. Some great movie plots will be written about these early Bitcoin days and we are living it.
I sold what little I had when I first saw BCC increase and bought BCC instead. If I had been awake when ti peaked, I would have made 250% profit.. but I wasn't .. lol
Thanks sounds like a shame. I transferred some into Bitcash the other day but not nearly enough, not that I have loads. Wish I had done more though. Was just about to invest in mining bitcoin. Not sure what to do now ?
I think it's unlikely that bitcoin cash will explode upwards in the immediate future.. I think people are figuring out exactly what is going on and almost all commenters I have read called it out as a 'pump and dump' move right away.
i used a 'trailing stop' in an exchange to time my sale of bitcoin cash so that i made about 35% profit.. I can do without the stress of watching my money going up and down at that rate! lol
I was more worried about the bitcoin losing value. I dont have a lot in bitcoin cash but enough to make a small profit over the last couple of days :). Trailing stop? Bit complex for me, don't know a lot really quite small scale.
i was using bitfinex to trade , which has some options i don't remember seeing anywhere else. a trailing stop is not complicated.. it's just a different way of making a bid. you choose how much you will trade and then set a value for how much you are willing to allow the price to drop before you sell. so if you start when the price is £100 and set a drop of £10, the price can go up and up to any value, but as soon as it drops by £10 you will automatically sell. if you time it right it's a great way to be safe.
Umm i'll have to look into it. Find some videos to get me started or posts. I just about to invest in BitClub so not investing in much else at the mo until my funds build up again.
Amazing, world class post
very useful , like good crime planing , thanks
I made a post about this yesterday as I came across a video discussing this. I'm learning so I didn't/don't know what to make of it. There was also a link to what I think was supposed to be text from one of the emails.
Yes, I saw that too, but since there are no useful names that can be tracked in the email I figured it wasn't of a huge amount of use.
You’re probably right,but I figured you never know if it might mean something to someone else by chance