Altcoin "Bitcoin Cash" (BCH) outperformed the rest of the crypto market today, closing +23% higher with no fundamental news. The timing of the rally coincides with the latest difficulty adjustment in Bitcoin, meaning that the next one will not occur for about two weeks. The implication of this is that the higher BCH price might make mining BCH more profitable. If this occurs then we will see a movement of hashpower from BTC to BCH. With less hashpower the speed of BTC blocks will decrease and there will be congestion on the blockchain and likely an increase in fees. Bitcoin has a built in difficulty adjustment mechanism to fix this, however as mentioned above this won't happen for another two weeks. This type of attack occured back in November and was used by BCH proponent Roger Ver as marketing material to attract more users to BCH. Below are some charts from November where the BTC difficulty was "1,364,422,081,125" from November 10th until November 24th, during which time BCH/BTC price spiked above 0.35 (hitting as high as 0.50 in intraday trading) and the hashpower of BCH overtook BTC for a brief moment.
And finally, Roger Ver took an interview today to promote BCH on The Alex Jones Show. It was convenient that BCH had rallied before he appeared on the show. However he didn't plan for someone to phone up and call him out for his agenda. Video extract below.
It is obviously not impossible that the Bcash price is manipulated:
Yesterday I wrote an article too:
https://steemit.com/bitcoincash/@michiel/be-careful-with-bitcoin-cash-all-the-value-is-created-by-manipulation-and-it-is-not-bitcoin
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Thanks for sharing!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
You are definitely right on this one
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I saw Roger Ver on the Alex Jones Show today. I have Bitcoin. I am concerned. And some said Roger was scamming or something.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Do you have Bitcoin or Bitcoin Cash? If you are holding Bitcoin then you shouldn't be concerned. Roger is referring to an alternative currency called Bitcoin Cash.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Yeah, I have Bitcoin, BTC, and Bittrex game me some Bitcoin Cash by default during the fork in 2017 and so I have a small bit of that. But it still seems that Bitcoin Cash could be better than BTC according to some people and I still wonder about that.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I'm pretty sure BCH is being manipulated.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Congratulations! This post has been upvoted from the communal account, @minnowsupport, by Cryptsheets from the Minnow Support Project. It's a witness project run by aggroed, ausbitbank, teamsteem, theprophet0, someguy123, neoxian, followbtcnews, and netuoso. The goal is to help Steemit grow by supporting Minnows. Please find us at the Peace, Abundance, and Liberty Network (PALnet) Discord Channel. It's a completely public and open space to all members of the Steemit community who voluntarily choose to be there.
If you would like to delegate to the Minnow Support Project you can do so by clicking on the following links: 50SP, 100SP, 250SP, 500SP, 1000SP, 5000SP.
Be sure to leave at least 50SP undelegated on your account.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit